Dominion Energy gets green light for $650 M grid transformation plan
Categories: News - 2022-01-12 14:58:04
USA, Virginia: US utility Dominion Energy has secured approval from the Virginia regulator to implement phase 2 of the grid transformation plan (GT Plan).
The green light from the Virginia State Corporation Commission enables the utility to invest $650 M to modernize, expand, digitalize and decarbonize its grid network over a period of ten years.
The plan will enable Dominion Energy to integrate more distributed energy resources such as electric vehicles, energy storage, and renewable energy for grid reliability, resilience, decarbonization, and flexibility.
The plan also includes the installation of smart metering and intelligent grid devices and technologies for distributed intelligence, grid automation, and various smart grid capabilities.
The programs will enable the utility to access grid operation data in real-time for optimal grid management, operation, and maintenance, according to a statement.
The $650 M investment will be made in 2022 and 2023 and recovered by Dominion Energy through customer tariffs.
The utility claims the upgrades will enable consumer bills to be lower than national and regional levels as well accelerate the energy transition and adoption of smart mobility across Virginia.
“This is another major step forward in building a clean energy economy in Virginia. This includes the largest offshore wind project in the nation, re-licensure of our nuclear units, energy storage, and solar energy, all of which create jobs and economic opportunity here in the Commonwealth. As we bring more renewable energy onto our grid to build a cleaner future, and focus on increasing resiliency, we must modernize the way the system works,” said Charlene Whitfield, senior vice president of power delivery at Dominion Energy.
This text is taken from https://transformers-magazine.com/tm-news/dominion-energy-gets-green-light-for-650-m-grid-transformation-plan/