At Dominion Energy, we're eager to achieve our vision of building a clean and sustainable energy future. We are focused on doing so in several responsible and thoughtful ways. Ways like taking care of our customers, protecting our environment and delivering on our fundamental mission of delivering clean, reliable, affordable energy.

Let’s start with fundamentals.

We cannot lose sight of our day-to-day mission: Delivering clean, reliable, affordable energy; protecting the environment; serving our customers and communities; empowering our people; creating shareholder value. We have customers in eight states, not just Virginia, from the East Coast to the western slopes of the Rocky Mountains. You depend on us. Serving you is critical in the best of times but took on special importance during the pandemic.

We understand that we need to achieve our clean energy objectives in way that provides good value for our customers, keeping rates low and manageable.

Even after the substantial investments we’ve already made in clean energy, our all-in rates for customers in Virginia are well below the national average, the East Coast average, and the average for states participating in the Regional Greenhouse Gas Initiative, which Virginia recently joined.

Keeping rates low is part of our broader plan, as we build a clean energy future. We are already seeing results. We have cut our carbon emissions 57 percent — well ahead of the average for our industry. We have cut methane emissions sharply as well. We celebrate progress. But we can do more. We know you want us to do more. That’s why we committed at the start of 2020 to achieve net zero carbon and methane emissions companywide from our electric and gas operations. And that’s why we are enthusiastic about the newly enacted Virginia Clean Economy Act. The law lays the foundation for a carbon-free future in Virginia, with clear milestones for progress.

With the path clear, we are embracing solar, wind, energy storage, and renewable natural gas, as well as initiatives extending the licenses of our carbon-free nuclear plants, promoting electric transportation and encouraging adoption of energy efficiency measures that help residential customers and small businesses reduce usage and lower bills.

We are developing the largest offshore wind farm in the Americas, and we are already producing electricity from the first wind turbines installed in U.S. federal waters. We have the third-largest solar portfolio across the nation among our peers, and we are working to meet the 16 gigawatts of solar and onshore wind envisioned by the new law over the next 15 years.

The proposed solar projects, if approved, will add less than 20-cents a month to the typical residential customer's bill and will be offset in part by fuel savings.

None of this will be easy. Maintaining reliable service and continuing to provide good value to our customers as we transform Virginia’s energy grid will take thoughtful planning. We are mindful of our role as stewards of the resources entrusted to us. That means taking care of our environment. It also means taking care of our customers. We know you depend on us for affordable, not just reliable, service.

As we deploy and rely on new technologies, savings will help keep rates down, even as we are delivering clean energy.

By our estimate, over 10 years, a typical residential customer in Virginia will see yearly increases of approximately 3 percent, under current plans. Even modest rate increases are not something we take lightly. We believe ensuring Virginia is an international leader in clean energy is a worthy goal for our children and grandchildren.

With many of our customers facing hardship, we expanded EnergyShare, which provides weatherization and bill assistance. We provided more generous and flexible repayment plans. And we worked with the Virginia General Assembly to forgive overdue bills and extend the moratorium on disconnections. For our employees, we put in place safety measures to guard against the virus. We expanded benefits, including additional paid leave. And we created an assistance fund for those facing difficulties.

We know the service we provide is essential. We appreciate the opportunity to serve so many families and businesses across Virginia. We are moving forward thoughtfully. And we will always be mindful of our day-to-day mission: to safely deliver the reliable and affordable energy that you expect and deserve.

Thank you.