You should have already noticed a reduction in your electric bill.
That was the message from Jason Waters. He’s the interstate marketing manager for Dominion Energy Carolina Gas Transmission. Dominion serves much of Richand and Lexington counties. Waters was the featured speaker at the Greater Cayce-West Columbia Chamber of Commerce Breakfast. It was at Mt. Tabor Lutheran Church in West Columbia, Tuesday.
“In January 2018 the typical residential electric bill was $147,” said Waters. In January 2019, after SCE&G merged with Dominion Energy, the typical residential electric bill was $125.
Waters also reviewed some of the other details of Dominion’s $13.4 billion purchase of SCE&G. He said Dominion will keep the energy company’s headquarters in Cayce and aggressively support the retention and recruitment of new business, for the purpose of economic development, via lower energy rates.
As a part of the deal, initially Dominion committed $2.5 billion to rate reduction for utility customers. Overall, the company said it will spend 4.5 billion for rate cuts. That’s a reduction of 15 percent from SCE&G rates. Dominion also agreed not to consider a rate increase before the year 2021, said Waters.
Waters said the Public Service Commission also approved at least $115 million in additional rate cut money from SCE&G assets. Dominion operates in 32 of South Carolina’s 46 counties.
Other facts about Dominion Waters imparted are that: Dominion has 21,300 employees and 30,000 megawatts of energy generating capacity. He also said Dominion has diverse generating services.
“We are not tied to one particular power source,” said Waters. He identified nuclear, natural gas, coal, solar and wind are power sources for the company.
He said Dominion, in a pilot program, is placing two wind turbans 27 miles off the coast of Virginia, in federal waters. And that project could be expanded if it is productive. Dominion also has a 1,000-acre plot with solar panel for power production.