RICHMOND, Va. — Dominion Energy is proposing hikes for base and fuel rates that, if approved, would add more than $21 to the monthly bills of residential customers by 2027.
In a press release Tuesday, the Richmond-based company said it's proposing a fuel rate increase of $10.92 in July 2025, and more than $10 in base rate increases over the next two years.
The base rate would increase $8.51 monthly in 2026, and again by $2 in 2027. Dominion said this is the first increase in base rates since 1992.
Watch related: Croatan residents concerned of noise of Dominion Energy wind turbine project
A Dominion spokesperson shared this explanation of the increases based on a resident bill of $140.
- Current monthly bill: $140
- After fuel rate increase on July 1, 2025: $150.92 (140 + 10.92)
- After base rate increase on Jan 1, 2026: $159.43 (140 + 10.92 + 8.51)
- After base rate increase on Jan 1, 2027: $161.43 (140 + 10.92 + 8.51 + 2.00)
The increases will help to keep at pace with inflation due to rising costs of labor, materials, equipment, fuel, and grid upgrades, Dominion said.
Watch: Dominion offers up-close look at offshore wind farm project
“We’re focused on providing exceptional value for our customers every single day,” said Ed Baine, president of Utility Operations and Dominion Energy Virginia. “Outside of major storms, we deliver uninterrupted power 99.9% of the time, and we’re significantly reducing storm-related outages as well. This proposal allows us to continue investing in reliability and to serve our customers’ growing needs.”
New rates are also proposed for high energy users, Dominion said, who would be required to commit to a 14-year agreement for the power they think they'll need.
