Trump tariffs could drive up Dominion Energy bills in Virginia
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President Trump's tariffs are making it more expensive for Dominion Energy to build its offshore wind farm in Virginia Beach, which could result in more expensive electric bills.
Why it matters: This would be on top of a separate proposed hike that would raise a ratepayer's average monthly bill by over $20 in the next two years.
State of play: In an investors call last week, Dominion CEO Bob Blue said if tariffs remain in effect, the utility company plans to add a 4-cent increase to monthly bills to offset the $120 million in additional tariff costs expected by the end of June.
- Since last year, Dominion customers have already seen about a $4 monthly jump to help pay for the offshore wind farm.
- And with Virginia's ongoing data center boom, the cost of keeping up with the electricity they demand will likely be passed on to locals, too, per a recent state report.
- Dominion has previously estimated that the average bill could go up by 50% in the next 15 years to keep up with that increased need.
Between the lines: The proposed rate increases — which require approval from state regulators — are mostly due to inflation and rising costs of labor, materials, equipment and fuel, says Dominion Energy spokesperson Aaron Ruby.
- Ruby added the increases would help cover investments needed to meet growing customer demand.
Meanwhile, Richmonders face a nearly $13 rise in monthly gas, water and wastewater bills starting this summer — and more expensive services and fees.
What's next: If Dominion's proposed base rate increases go through, you'd pay:
- About $11 more per month to cover mostly fuel costs, starting this July.
- An $8.51 increase starting January 2026.
- An additional $2 in January 2027.