Dominion Energy has filed the first set of plans under the Grid Transformation & Security Act (GTSA). This legislation, signed by Gov. Ralph Northam, became effective July 1 and provides a roadmap for Virginia's energy future. Dominion Energy is committing to having 3,000MW of new solar and wind under development or in operation by the beginning of 2022.
The law paves the way for expanded investments in renewable energy, smart grid technology, a stronger, more secure grid and energy efficiency programs, all while keeping rates affordable. The Grid Transformation & Security Act includes provisions for:
- US$200 million in bill credits to customers, and US$125 million in annual rate cuts due to tax relief
- Modernising the energy grid to improve reliability, resiliency and the ability to integrate more renewable energy and emerging technology
- Expanding the company's renewable energy fleet in Virginia
- Future testing of wind turbines off the coast of Virginia Beach
In the regulatory filing, the company asked the State Corporation Commission (SCC) to approve the programs, investments and costs included in the first three years of the 10-year grid transformation program. The company will update the plan and request approval of additional programs and spending in later filings with the SCC.
