Dominion Energy’s subsidiary, Virginia Electric and Power Co., failed to meet a 1.25% energy savings target in 2022, according to the State Corporation Commission (SCC). This means it cannot receive a $6 million performance bonus it applied for and must meet additional criteria to proceed with 1 GW of new gas-fired peaking generation. The Virginia Clean Economy Act, passed in 2020, set energy savings targets for a four-year period and requires state regulators to update them annually for three years. The failure to meet the savings target could narrow the approval pathway for the proposed Chesterfield turbines. Looking ahead, Dominion’s cumulative energy savings goals are set at 2.5% in 2023, 3.75% in 2024 and 5% in 2025.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
