RICHMOND, Va. — Most Dominion Energy customers in Virginia will receive a $33 bill credit to return savings from federal corporate income tax reform.
Dominion Energy residential customers can expect the one-time bill credit in June 2019.
Officials say the typical residential customer using 1,000 kilowatt-hours per month will see a credit of $33.27. Officials noted that individual credits will depend on each customer’s historical energy usage.
Over the last three years, Dominion Energy customers have received three credits totaling nearly $71. The latest bill credit is one of the largest in Dominion Energy Virginia’s history, according to a spokesperson.
The federal corporate income tax rate was reduced from 35% to 21% effective January 1, 2018. This reduction was followed by the SCC ordering companies to preserve the savings from this tax cut to benefit customers.
Dominion says the typical residential customer also saw more than $3.78 in rate cuts related to the tax reform in the past year.
BY VERNON FREEMAN JR.