Dominion Energy agreed to a settlement to reduce its request for $178 million more to raise electric rates on average 7.75%.

If the SC Public Service Commission approves, the increase will be $35.6 million, an average rate increase of only 1.42%.

Small business faired even better. The rate increase for them will only be 1.08%, a 85% drop from the original rate hike.

The credit for this agreement goes to the negotiation leadership of the Office of Regulatory Staff and its collaboration with the other intervenors who provided quality input to represent their constituents.

As CEO of the SC Small Business Chamber of Commerce, my appreciation also goes to Dominion Energy for agreeing to a 6-month pause in the PSC hearing to allow a negotiated settlement.

Frank Knapp, Columbia