New Legislation Aiming to Inject Competition Into Virginia’s Offshore Wind Market Could Spark a Reexamination of Dominion’s Monopoly Power

As Virginia seeks to acquire at least 2.6 gigawatts of offshore wind energy to fulfill legally binding decarbonization targets, the bill would require the state to consider a range of bids from offshore wind developers other than Dominion.

After a 2023 legislative session that saw Virginia lawmakers claw back oversight over Dominion Energy’s previously unchecked profits, Virginia’s monopoly utility is once again facing scrutiny over its balance sheet and commitment to clean energy.