U.S. Utility That Overcharged $380 Million Wants to Spend It
- Dominion proposes to use some money it overcollected on grid
- Utility would also deploy smart meters and a customer platform
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Dominion Energy Inc., the U.S. utility giant that came under fire for overcharging its customers by almost $380 million, wants to keep the money and spend it on grid upgrades.
The Virginia power company proposed using some of the extra cash to help install almost a million smart meters, create an online “customer information platform” and add more devices to the grid that could help prevent blackouts. It’s part of a plan that the state rejected in January, calling it too costly. The utility on Monday came back with a more modest proposal and a smaller price tag of $594 million, down from more than $1 billion.