Episode 84: What’s the future of energy in Virginia?

Here on the podcast, we like to keep tabs on Dominion Energy. As the largest of only 2 publicly regulated utilities in the state, Dominion is a monopoly. The caveat is that it’s a state regulated monopoly, meaning its rates and profits are monitored by a regulatory agency called the State Corporation Commission. But the SCC’s power has eroded the past few decades, thanks to a variety of bills that have been pretty soft on Dominion.

This year’s General Assembly changed that trend. In the final days of the session, the General Assembly passed sweeping legislation on Dominion, the Virginia Electric Utility Regulation Act. Among other things, it changes how profit margins are set and strengthens SCC oversight. That can mean pretty big things for both Dominion, and for ratepayers like us. To step us through the new legislation and its impact, we talk to Charlie Paullin, energy and environment reporter for the Virginia Mercury. 

But, that’s just the latest news — and energy policy is measured more in decades than in years. One big inflection point happened back in 2020, with the Virginia Clean Economy Act. The law set a variety of energy standards, including that our energy providers be 100% renewable by 2050. But setting the standards and meeting them are two different things. So we talked to Kim Jemaine, policy director at Advanced Energy United, about the opportunities and challenges of the Clean Economy Act. 

This episode is special in other ways as well. This marks the last episode of Nathan Moore as the host of Bold Dominion. Today, Nathan hands off the baton to a new host, Aaryan Balu. You’ve heard his voice before… he was Bold Dominion’s first Assistant Producer, going back more than three years. Welcome back, Aaryan!

For an in-depth breakdown on the Electric Utility Regulation Act, read Charlie Paullin’s article here.