Dominion Energy is working to collect millions of dollars in tariff fees and return it to ratepayers. The effort comes after Radio IQ reported the company said President Donald Trump’s tariff scheme added nearly $800 million to its offshore wind project.
In a statement, a Dominion spokesperson said the company has quote “sought, and have begun receiving,” tariffs paid on the construction of the Coastal Virginia Offshore Wind, or CVOW project. Citing quote “[federal agency] processing [and] the outcome of ongoing legal proceedings,” among other variables, the spokesperson said it's unclear how much and when- and how those funds could land in ratepayers' pockets.
But state lawmakers have some ideas.
“Those costs should aver back to ratepayers, if possible," said Virginia’s Speaker of the House Don Scott. "I think Dominion has a responsibility and an obligation to do everything they can to drive down costs.”
Senate President Louise Lucas said she'd "absolutely!" like to see Dominion get the refund it can. But she said that refund should go to the general fund, with a hearty laugh.
Lucas said her response was a bit tongue and cheek, but Senator Mamie Locke, chair of the powerful rules committee, argued the general fund wasn’t a bad place for them.
“Because in that way you can make the determination as to where you want the money to be spent in terms of prioritizing the needs of the Commonwealth," she said. "We can redistribute to ratepayers if that’s the goal.”
Alfredo Carrillo Obregon studies the impact of Trump’s tariffs for the CATO institute. He said up to $20 million in tariffs collected under a regime struck by the U.S. Supreme Court in February could be on the table. But the $800 million in tariffs on steel and aluminum, the largest share of tariff duties, will remain in federal coffers… and will continue to burden ratepayers.
“Any future projects that use steel or aluminum, and let's face it, public utility companies have a bunch of those, they're still going to be on the hook for those duties,” he told Radio IQ.
