Statement From Dominion Energy Regarding Upcoming South Carolina Public Service Commission Hearings

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Oct 31, 2018, 18:11 ET

RICHMOND, Va., Oct. 31, 2018 /PRNewswire/ -- Dominion Energy (NYSE: D) today issued the following statement regarding the South Carolina Public Service Commission (PSC) evidentiary hearings that will begin Nov. 1, 2018:

"Dominion Energy looks forward to the South Carolina PSC hearing process that begins tomorrow, and is pleased to put forth our proposals to stabilize and improve South Carolina's energy future.

"We continue to prefer and advocate for our original plan that would provide the average SCE&G electric customer cash payments and immediate and ongoing bill reductions and include Dominion Energy and its shareholders absorbing a large slice of the capital financing obligation associated with the now-abandoned nuclear project in Jenkinsville. There is no question that residential customer support for our refund plan is very strong.

"In response to requests from several stakeholders – including large customers and state officials – we produced an alternate plan that would double immediate and ongoing bill reductions in lieu of cash payments and increase what the company and its shareholders pay to reduce V.C. Summer's financing obligations.

"Both plans result in lower, stable electric rates and give the commissioners more flexibility and an additional choice to consider that will benefit SCE&G customers in the long-term without inflicting severe financial harm to the state's largest provider of essential energy services.

"We look forward to making our case in front of the Public Service Commission, and believe we offer the best path forward to provide a solution benefiting customers and the state's economic development efforts."

Nearly 6 million customers in 19 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable, and safe energy and is one of the nation's largest producers and transporters of energy with over $78 billion of assets providing electric generation, transmission and distribution, as well as natural gas storage, transmission, distribution, and import/export services. As one of the nation's leading solar operators, the company intends to reduce its carbon intensity 50 percent by 2030. Through its Dominion Energy Charitable Foundation, as well as EnergyShare and other programs, Dominion Energy plans to contribute more than $30 million in 2018 to community causes throughout its footprint and beyond. Please visit www.DominionEnergy.com, Facebook or Twitter to learn more.

SOURCE Dominion Energy