Client: Consumers Union (CU)
Liz Stanton, PhD, Rachel Wilson, and Bryndis Woods
The Applied Economics Clinic has prepared a report that investigates the impact of various levels of energy efficiency on electric rates and bills of Dominion Energy Virginia (Dominion) customers. Dominion is asking state utility regulators to approve billions of dollars in new spending to increase nuclear and natural gas capacity over the next 10 years in order meet its forecast for future energy demand. These costs would be passed on to consumers in the form of substantially higher utility bills. We find that by investing in energy efficiency, Dominion customers would enjoy lower rates and bills while future energy demand would be met with fewer than half of the new power plants currently proposed by Dominion.