Customers of Virginia’s largest utility will see their bills lowered by $33 on average in June, thanks to Federal and state legislation.
Dominion Energy customers will get a credit on their June bills, according to the company, as the utility passes on tax savings from the Tax Cuts and Jobs Act, the Republican-sponsored tax cut bill that took effect in 2018.
The utility saw its Federal income tax rate drop by 14 points last year, saving the company $118 million. All of that money must be returned to customers, thanks to a piece of state legislation, Grid Transformation and Security Act of 2018.
Customers who use an average of 1,000 kilowatt-hours of energy a month will see a credit of about $33 on their bills, with those using more getting larger credits.
“The June bill credit will help provide relief to our customers as we enter the hot summer months,” said Corynne Arnett, vice president of customer service for Dominion Energy.