Dominion requests 2nd rate increase in 2 years...how to stop it

City of Charleston · Committee on Community Development
Affordable Housing Charrette Nears Completion; Federal Support DiscussedThe city is finalizing designs and site plans for Project 3500, an affordable housing initiative, with a public presentation scheduled at Dock Street Theater. All related lectures and meetings were recorded for public access, and 500 comment cards will be distributed to gather feedback. Mayor and staff recently met with HUD in Washington, D.C., to discuss funding, with HUD officials open to adjusting requirements to expedite the project. A recent Presidential Executive Order promoting affordable housing is expected to further support these efforts. *Should have much more on this in next week’s newsletter

Charleston County · Council Committee
Highway 41 Corridor Eminent Domain and Community Protections
The committee addressed public concerns about property acquisitions for Highway 41 improvements, clarifying that the county offers fair market value and has minimized permanent right-of-way takings, especially in the Philips Settlement Community. Of 172 impacted properties, most require only temporary construction easements, and special legal processes are in place for heirs’ properties. The discussion included concerns about eminent domain in Laurel Hill Park and confirmed the project remains within budget and on track for completion by June.

City of North Charleston · City Council
Watershed Master Plan: Flood Modeling and Risk Mitigation
The city developed a 2D model to simulate rainfall and flow patterns, validating it against historical flooding complaints—most notably the 2015 flood, where predicted flood zones matched actual complaint locations. The plan uses future projections anticipating more intense coastal rainstorms and incorporates high-end sea-level rise estimates (1.8 feet by 2060, 5.1 feet by 2100). While many future flood-prone areas are marshes, six neighborhoods with homes and businesses at risk were identified for targeted engineering studies. The plan also recommends annual letters to residents in floodplains, especially those without mortgages, to increase awareness about flood risk and insurance needs.

City of North Charleston · City Council
Unified Development Ordinance (UDO): Zoning Rewrite and Public Engagement
The city has hired consultants to rewrite zoning districts based on public input. Current efforts focus on launching a public engagement plan and a dedicated website to gather resident feedback before the project begins in earnest. This approach aims to ensure that zoning changes reflect community priorities and concerns from the outset.

City of Charleston · Committee on Recreation
WL Stevens Pool Project Advances Toward Construction
The committee received an update on the WL Stevens Pool, which is currently undergoing floor plan revisions based on feedback from the recreation department. The project is set to be submitted for Technical Review Committee (TRC) review in two weeks, with construction anticipated to begin in June. The facility will feature a 25-meter by 25-yard pool, a therapy pool for joint and mobility needs, and a multi-purpose room. The site will also include tennis and basketball courts, a new playground, and renovations to the Miracle League field, combining the pool and park house into one comprehensive facility. Construction is expected to take approximately 18 months.

City of Charleston · Committee on Recreation
John’s Island Recreation Center Set to Become City’s Largest Facility
The committee was briefed on the progress of the John’s Island Recreation Center, which is undergoing floor plan revisions and is scheduled for Technical Review Committee (TRC) review in two weeks. Construction is expected to begin a few months after the WL Stevens Pool project, with an estimated duration of 18 to 24 months, depending on soil surcharging. The 57,000 square foot center will be the largest recreation facility the city has ever built, featuring two full-size indoor basketball courts (also usable for pickleball and volleyball), a fitness center, movement room, and a separate aquatics area with a 25-meter by 25-yard pool and a therapy pool. Additional amenities include administrative offices, multi-purpose rooms, community rental spaces, and outdoor pickleball and basketball courts.

Dominion Energy has filed an application with the South Carolina Public Service Commission requesting a 12.73% rate increase. If approved, the new rates could take effect as early as July 2025. This would be the second rate increase Dominion has received in under two years.

In 2024, Dominion was approved for an 11%+ rate increase after originally requesting 14%. That increase was partially reduced due to public opposition during the regulatory process. The current filing was submitted in January 2025.

According to their official filing, Dominion cites several reasons for the request. They project a 25% increase in electric demand by 2044 driven by economic and residential growth. They also report $1.4 billion in system investments since 2023, $120 million in Hurricane Helene repair costs, and $32 million in rising tax obligations.

Beyond covering costs, Dominion is also requesting a higher return on equity of 10.5%. That's up from the 9.94% regulators approved in 2024, and higher than the 2025 national utility average of 9.66%. They aren't just asking to break even on expenses. They're asking to grow their profits on top of it.

According to Dominion's official SEC filings, CEO Robert Blue's total compensation nearly doubled in a single year, reaching $12.1 million in 2024. In February 2025, he also received over 47,000 restricted shares of company stock at no cost, valued at more than $2 million. These are public disclosures, not allegations. They are simply worth knowing when evaluating this rate request.

Dominion Energy is a state-sanctioned legal monopoly. In exchange for that privilege, South Carolina law requires them to get approval from the Public Service Commission before raising rates. The process involves financial audits, expert testimony, public hearings, and a written order from the Commission.

Because this is a formal legal proceeding, every public comment becomes part of the official record that commissioners must consider before voting. The 2024 rate increase was originally filed at 14% and was reduced in part because of public opposition. Protests don't always stop increases, but history shows they influence the outcome.

🔗 STEP 1: Open the Letter of Protest form (linked below)

✍️ STEP 2: Fill it out
You only need to fill in 3 things:

Docket Number: 2025-325-E

Your connection to the case: "I am a residential customer of Dominion Energy South Carolina."

Your protest statement (use the bullet points below)

📧 STEP 3: Submit it
Email the completed form to: [email protected]

📝 INFO TO INCLUDE IN YOUR PROTEST (copy of put in your own words):

• I oppose the 12.73% rate increase requested in Docket 2025-325-E. This is the second major rate increase in under 2 years. The last increase took effect in September 2024.

• Since May 2020, residential electric bills have already increased 29% before this new request is even decided. This additional increase places an unreasonable financial burden on households.

• Dominion Energy reported $2.44 per share in net income for full-year 2024. This is a profitable company, not one that requires emergency rate relief.

• According to Dominion Energy's own SEC proxy filing, CEO Robert Blue's total compensation nearly doubled in 2024 to $12.1 million. Customers should not be asked to subsidize above-market executive pay through rate increases.

• Dominion is requesting a 10.5% return on equity, which is above the 2025 national utility average of 9.66%. As a state-sanctioned monopoly with a guaranteed customer base and no competition, this above-average profit margin is not justified.

• I urge the Commission to reject or significantly reduce this request and to conduct thorough scrutiny of the company's executive compensation and spending priorities before approving any costs to be passed on to ratepayers.

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354 residential properties went under contract in the Charleston area this past week, including 274 single-family homes. That's a solid number, and buying activity is trending in a positive direction heading into spring.

On the macro side, inflation has ticked up slightly, which means the Fed's next move, if they make one, would more likely be a rate increase than a cut. That said, I don't see that happening anytime soon. The labor market is still soft enough that the Fed will likely stay put for now, which means mortgage rates aren't going anywhere dramatic in the near term.

What that means for buyers: Rates staying relatively stable is a window worth using. You're not racing a clock right now, but you're also not alone out there. Buyer activity is picking back up, and well-priced homes are moving. The median list price for single family homes that went under contract this week was $449k with a median of 31 days on market, which tells you correctly priced homes aren't sitting long.

What that means for sellers: More buyers are actively making decisions, which is encouraging. But pricing still matters more than ever. Homes are going under contract, not just sitting and collecting showings. If you're priced right, this market will reward you.

A few local highlights worth noting: Mount Pleasant had 24 homes go under contract with a median of $1.2M and zero under $600k. The Peninsula also hit a $1.2M median with 8 of 13 homes over $1M. Johns Island and James Island both saw strong activity as well, with medians of $655k and $799k respectively.

Spring is here. The market is moving.

Click below to see more or select a different area. 👇

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Until Next Week,

-Bill Olson

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