Huge Cost Overruns Adding Up In Connection With Wind Energy Project

Dominion Energy is now blaming cost overruns from an off-shore wind project for an upcoming increase in Virginia electric bills. The utility told stockholders on Monday that the price of the Coastal Virginia Offshore Wind project has increased by 900-million dollars. Dominion and investment partner Stonepeak will absorb some of the cost, but Dominion customers will be forced to pay the rest. The utility estimates the overruns will add about 43 cents a month to the average customer bill.