LOCATION/TYPE

NEWS HOME

[ exact phrase in "" • results by date ]

[ Google-powered • results by relevance ]


Archive
RSS

Add NWW headlines to your site (click here)

Get weekly updates

WHAT TO DO
when your community is targeted

RSS

RSS feeds and more

Keep Wind Watch online and independent!

Donate via Paypal

Donate via Stripe

Selected Documents

All Documents

Research Links

Alerts

Press Releases

FAQs

Campaign Material

Photos & Graphics

Videos

Allied Groups

Wind Watch is a registered educational charity, founded in 2005.

News Watch Home

State regulators approve Dominion’s nearly $10 billion wind farm off Virginia Beach coast 

Credit:  By Sarah Rankin | Associated Press | Aug 05, 2022 | www.pilotonline.com ~~

RICHMOND – State regulators on Friday approved an application from Dominion Energy Virginia to build an enormous offshore wind farm off the coast of Virginia Beach and recover the cost from ratepayers.

No parties to the monthslong proceeding had opposed the approval of the project, which will help the utility boost the proportion of its generation that comes from renewable resources. But many had raised concerns about affordability and possible risks to the utility’s captive ratepayers.

In its Friday order, the State Corporation Commission noted that the 176-turbine Coastal Virginia Offshore Wind Project will likely be the single largest project in Dominion’s history and said that because of its size, complexity and location, it faces an array of challenges. The commission included in its order three “consumer protections,” including a performance standard.

The commission’s order also approved facilities that will connect the wind farm to the existing transmission system.

Robert Blue, Dominion Energy’s president and CEO, said in a statement that the company was pleased with the approval but was reviewing the specifics of the order, “particularly the performance requirement.”

The project, which will be located about 27 miles off the coast, has an expected capital cost of $9.8 billion and has drawn broad support from local officials, policymakers, business groups and trade unions, who say it will help fight climate change and create jobs. Backers quickly celebrated the commission’s decision.

[ Previously: Dominion is seeking approval for a $10B wind farm off Virginia Beach. Advocates are seeking protections for customers. ]

“We applaud the SCC for greenlighting new offshore wind power in Virginia. As the largest offshore wind project in the country, this project is a critical piece of our clean energy transition because it complements solar by generating power at night when the sun isn’t shining,” Will Cleveland, a senior attorney for the Southern Environmental Law Center, said in a statement.

Regarding costs, the SCC order said that over the wind farm’s projected 35-year lifetime, including the construction and its 30-year projected useful life, a typical residential customer is expected to see an average monthly bill increase of $4.72, with a peak monthly bill increase of $14.22 in 2027.

“To be clear, total Project costs, including financing costs, less investment tax credits, are estimated to be approximately $21.5 billion on a Virginia-jurisdictional basis, assuming such costs are reasonable and prudent. And all of these costs … will find their way into ratepayers’ electric bills in some manner,” the order said.

Dominion said in a news release that because offshore wind turbines have no fuel costs, the project is expected to save Virginia customers more than $3 billion during its first 10 years of operation.

The consumer protections in the commission’s order include a requirement that Dominion file a notice within 30 calendar days if it finds that the total project costs are expected to exceed the current estimate or if the final turbine installation is expected to be delayed beyond Feb. 4, 2027. Annual filings will also have to address “any material changes” to the project and explain any cost overruns.

The SCC also ordered that beginning with the commercial operation and extending through the life of the project, customers will be “held harmless” for any shortfall in energy production below a certain threshold.

Source:  By Sarah Rankin | Associated Press | Aug 05, 2022 | www.pilotonline.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

Wind Watch relies entirely
on User Funding
   Donate via Paypal
(via Paypal)
Donate via Stripe
(via Stripe)

Share:

e-mail X FB LI TG TG Share


News Watch Home

Get the Facts
CONTACT DONATE PRIVACY ABOUT SEARCH
© National Wind Watch, Inc.
Use of copyrighted material adheres to Fair Use.
"Wind Watch" is a registered trademark.

 Follow:

Wind Watch on X Wind Watch on Facebook

Wind Watch on Linked In Wind Watch on Mastodon