Virginia should not abandon the current structure entirely. The pure competitive supplier model has plenty of downsides (See Texas). It is only attractive to so many in Virginians at this time because Dominion Energy Virginia has corrupted the market to unfairly enrich its stockholders. If all these other steps are taken and electricity costs in Virginia stabilize, the desire to bolt from the monopoly service will wane.
When Richmond City Council indicates an intention to eliminate the Richmond Gas Works, as it did with a resolution on Sept. 13, that decision does not stop at the city line. Tens of thousands of Henrico and Chesterfield residents and businesses also are served by and depend on that municipal public service utility.
Benchmark U.S. natural-gas prices edged above $5 per million British thermal units this month, near their highest since 2014, but they are fairly tame compared with levels in Europe and Asia. The inventory situation seems less dire at home too as underground natural-gas storage grows. The problem is that seasonal stockpiling isn’t happening quickly enough, with inventories 7.1% below their five-year average and less margin for error.
Using open-source consumer data, CEA developed a cost calculator to provide an estimate of what a typical household in Richmond could expect to pay as a result of policies to ban natural gas service and use, depending on home configuration, appliances used and other factors.
Spanning approximately 303 miles across West Virginia and Virginia, Mountain Valley Pipeline (MVP) was designed to provide cost-effective access to natural gas for use by local distribution companies, industrial users, and power generation facilities in the growing demand markets of the mid-Atlantic and Southeast regions of the United States.
Proponents of phasing out natural gas say their aim is to reduce planet-warming emissions over time by fully electrifying new homes and buildings as wind and solar farms proliferate throughout the country, making the power grid cleaner.
Bills for an average residential customer of Appalachian Power Co. will go up by about $11 a month, effective July 1. The State Corporation Commission on Tuesday approved a request by Appalachian to raise the rate it charges to cover transmission costs for the electricity it delivers to about 500,000 customers in Virginia.
A new Energy Analysis from the American Gas Association (AGA) demonstrates just how crucial natural gas was during the February cold snap in Texas to keeping homes in the Lone Star State provided with electricity and heat at a time of record consumption.
Consumer Energy Alliance’s latest report has calculated a $25,600 price tag per New York City household if the city continues to follow short sighted goals of banning natural gas use in buildings. The cost to residents will be felt each winter and poses significant challenges to businesses recovering from the COVID pandemic in the short term.