General Assembly deal sets Dominion profits for two years while overhauling regulatory system
FEBRUARY 25, 2023
The decision came down to the wire, but on Saturday afternoon Gov. Glenn Youngkin’s office and the General Assembly reached a deal on sweeping legislation to adjust Dominion Energy’s profit margin and reform the state’s system of electric utility regulation.
The final language of the bill, which has been under negotiation all session, will set Dominion’s profit margin at 9.7% for two years. After that, the State Corporation Commission, which in Virginia oversees electric utilities, will have the authority to set the profit margin at its discretion.