NORFOLK, Va. — With growing inflation, Dominion Energy is proposing price hikes that could go into effect this year. The utility company says they must raise their base prices to keep up with the rising costs of supplies and equipment.
Customers say they are not pleased to hear this.
"It’s insane," Maureen Scott, a customer said.
"Things are already more expensive than they should be. Electricity shouldn’t be one of them," Wayne Lee, a customer said.
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Dominion Energy filed the proposal with a fuel rate increase of $10.92 with the Virginia State Corporation Commission this week.
It's possible the proposal could go into effect on July 1, 2025.
A Dominion Energy spokesperson says fuel is needed to generate the company's power plants.
The price hike would also include a base rate increase of $8.51 per month in 2026 and $2.00 per month in 2027 for a residential customer.
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"We’re experiencing inflation like most other companies. The cost of labor has gone up. The cost of most of the equipment we need to produce and deliver electricity has gone up," Aaron Ruby, a Dominion Energy spokesperson said.
Ruby with Dominion Energy says rising equipment costs means it costs more to produce electricity.
"We’re having to pay more for wires and cables, utility poles, transformers, and a lot of equipment in our power generating stations," Ruby said.
Inflation has impacted nearly every aspect in life from rising food costs to rising supply costs.
"The cost of living is already too much," Lee said.
Ruby says the price hikes have to be approved by the Virginia State Corporation Commission, the regulatory authority that oversees utilities in Virginia.
He says the approval process could take about 9 months.
