Dominion makes its case to SCC for $9.65 billion from customers to build wind farm
- May 20, 2022 2:50 pm GMT
Acknowledging the risk of cost overruns but saying it doesn't anticipate any,
Dominion representatives touted the project's job creation and reduction in carbon emissions. They promised in a hearing before the
The attorney general's office, the advocacy group Clean Virginia and others told commissioners they're concerned about the potential for even higher costs on such a large construction project and in an economy with supply chain disruption and inflation.
No party in the case, in which the SCC is considering approval of the 176-turbine project and its costs, asked the commission to reject the request. A 2020 state law essentially directs the commission to approve the project if Dominion meets certain parameters, which the company said it had.
"There is overwhelming evidence that the project is entitled to the statutory presumption of reasonable and prudent costs,"
Lawyers for the attorney general's
He also reminded commissioners that Dominion's project is different from other offshore wind projects in America in that Dominion will own the equity, putting 100 percent of the risk on ratepayers of the investor-owned utility.
State law calls for offshore wind power beyond the 176-turbine project now on the table, which is expected to be finished around 2027. Clean
"There are many challenges facing mega projects such as this, even more so now with ... severe supply chain disruptions and high inflation," he said. "Simply put, we want the commission to do everything that it can to guard against the problems we have seen in
Browder read from and introduced as evidence a
Reuters reported that
Dominion sought to reassure the two SCC commissioners,
"We would agree that there is no blank check for this project," said
Cost overruns "are not anticipated at this time," he said. And by approving the project with a stipulation that parties have agreed to, Reid said, the commission reserves its authority to review any cost amounts above
The company would have to demonstrate that any amounts above that are reasonable, he said.
Tuesday's daylong hearing included opening arguments and then
The law puts
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