RICHMOND, Va. (AP) - Dominion Energy has bowed to pressure from Virginia Gov. Ralph Northam and others and has agreed to spend $870 million on energy efficiency programs over the next decade.
CEO Tom Farrell told Northam of the company's plans in a letter sent Tuesday. Dominion had recently argued before state regulators that its energy efficiency spending should be significantly less.
The $870 million figure was agreed to last year by Dominion and others as part of a part of a major overhaul of energy regulations.
But Dominion recently argued the costs should include any lost revenue related to decreased electric usage. That would effectively reduce energy efficiency spending by hundreds of millions of dollars.
Northam and others pressed Dominion to spend the full $870 million, saying that was the deal they made.
