in News Departments > FYI
print the content item

Dominion Virginia Power plans to invest $7.6 billion over the next five years for new power stations and other electric infrastructure to meet growing demand.

The investments also cover reliability enhancements and new technology that will allow customers to save money on their energy bills. In addition to these investments, the company says it will continue its plan to spend more than $2 billion to improve the environmental performance of its fossil-fueled power stations and anticipates that additional investment may be necessary to meet pending federal regulations.

The company's strategy for meeting growing electricity demand, called Powering Virginia, emphasizes using a balanced mix of generation sources, including upgrades to existing units, clean-burning natural gas, a hybrid energy power station, renewable resources and conservation.

Of the $7.6 billion in projected capital spending, approximately $4 billion will be used for adding or upgrading new transmission and distribution lines, substations and other related facilities that bring power to customers. A circuit-reconditioning program will continue to target lines that experience higher levels of outages.

The company's investments will require some increases in rates. On Jan. 1, the company's rates will effectively go up by 4.6% as $268 million in customer credits are completed Dec. 31. Customers have been receiving these credits on their bills since April.

SOURCE: Dominion Virginia Power


Hse SandyHook
Latest Top Stories

Does Income Determine Who Benefits The Most From Smart Grids?

According to the Smart Grid Consumer Collaborative, low-income consumers may be at a disadvantage.


Accenture And Siemens Form Smart Grid Joint Venture

OMNETRIC Group will help utilities improve energy efficiency, grid operations and reliability.


Maine Public Utilities Commission: Smart Meters Are Safe

According to a report by the commission, there is no direct link between smart meters and health issues.


Report: Global Solar Deployment Topped Wind In 2013

Research firm Clean Edge finds that solar surpassed wind for the first time since it began tracking international markets in 2000.


HEM Is Key For Utilities To Maintain A Competitive Edge

According to a report by Lux Research, automated meters, electricity rates and renewable energy are crucial to the success of home energy management.

S&C Electric_id176
edf_id