(The Center Square) – While thousands of Virginians struggled to afford their energy bills last year, Dominion Energy awarded its CEO a $6.1 million raise—bringing total compensation to more than $17.5 million, according to federal Securities and Exchange Commission filings.
According to federal disclosures, Dominion reported Chairman and CEO, Robert M. Blue’s total 2024 compensation as $17.5 million in its latest proxy filing.
The raise came during a period when state funding for utility assistance dropped by nearly $40 million, and fewer than a quarter of eligible low-income households received help with heating or cooling costs, according to Virginia Department of Social Services records.
Dominion customers are still paying for the Virginia City Hybrid Energy Center, a $1.8 billion coal plant that state regulators have repeatedly said is losing money.
In 2022, filings with the State Corporation Commission showed Dominion planned to collect about $191 million from customers that year to cover the plant’s costs. Regulators also required Dominion to study whether it made sense to keep the plant running long-term and report back within nine months.
At the General Assembly, Dominion backed several energy-related bills that could affect how much it can charge ratepayers moving forward. Senate Bill 1040 amended renewable energy standards while extending cost recovery eligibility for some projects until 2032. Another measure, Senate Bill 1100, authorized pilot programs for “virtual power plants” that help manage electric demand.
The shift comes as Virginia exits the Regional Greenhouse Gas Initiative, a carbon market that once projected up to $1.65 billion for energy efficiency programs through 2030. A 2024 court ruling blocked the state’s administrative repeal, but the program remains on hold pending further legislative action.
With that funding uncertain, Dominion’s future investment strategy is expected to rely more heavily on residential rates and infrastructure riders.
A court ruling in November 2024 found Virginia’s administrative withdrawal from RGGI unlawful, but the state has remained out of the program while it appeals the decision. Without a clear funding source to replace RGGI’s projected $1.65 billion for energy efficiency, Dominion and state agencies face renewed pressure to fund energy initiatives through other means.
“This may be a long battle, but we are ready for it,” said SELC Senior Attorney Nate Benforado in a statement. “Virginia should get back in RGGI. The state’s unlawful removal is already harming its clean energy transition and putting the most vulnerable communities at even more risk.”
Planning documents from 2025 also forecast rising energy costs for consumers. A recent analysis by the Joint Legislative Audit and Review Commission estimated that average household bills could increase by $14 to $37 per month by 2040, driven partly by growing electricity demand from data centers.
In an email to The Center Square, Dominion spokesperson Jeremy Slayton said the company benchmarks executive compensation “to pay fairly and attract and retain the best talent” and that rates are reviewed by state regulators. Slayton also said the Virginia City Hybrid Energy Center is “critically important for reliability during periods of high demand.”
Dominion pointed to programs that help eligible customers with utility costs, including payment plans, virtual energy audits and weatherization assistance through its EnergyShare program.
