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RICHMOND, Va., Oct. 3, 2011 /PRNewswire/ -- Dominion Virginia Power customers who drive electric vehicles can now take advantage of special rates to charge their vehicles overnight, thanks to the company's pilot program that begins today.
The program is designed to test whether electric-vehicle owners will choose to charge their vehicles during off-peak hours — typically overnight — in exchange for lower electricity prices.
"This pilot program provides electric-vehicle users an option to help them manage their vehicle charging costs," said Kenneth D. Barker, vice president-Customer Solutions and Energy Conservation. "Knowing that customers will charge their vehicles at night when power demand is at its lowest will enable us to plan accordingly."
Industry experts say that based on the state's relatively large amount of first-generation hybrid vehicles, Virginia could be one of the hottest markets for plug-in electric vehicles. Dominion believes that by 2020 there could be 86,000 electric vehicles in Virginia — equal to 5 percent of all vehicle sales. If charged on-peak, these vehicles could lead to an increase in the amount of peak-demand electricity the company must supply that year by about 270 megawatts, which is the equivalent of powering 67,500 homes.
Customers have two rate options from which to choose:
By contrast, it would cost about $1.10 to charge an electric vehicle using Dominion Virginia Power's standard residential rate of about 11 cents per kilowatt-hour.
Each pilot rate option is limited to 750 participants. Each participant will have to stay enrolled in the pilot for at least one year. The pilot ends Nov. 30, 2014. Each year the pilot is in effect, the company will submit an annual report to the Virginia State Corporation Commission (SCC) that details the number of program participants, an assessment of the feasibility and implications on the public interest of continuing the program, and any other relevant information.
Additional information is available on the Dominion website. The SCC gave its approval for the pilot program on July 11. Click here for the SCC Order.
Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 28,200 megawatts of generation, 11,000 miles of natural gas transmission, gathering and storage pipeline and 6,300 miles of electric transmission lines. Dominion operates the nation's largest natural gas storage system with 947 billion cubic feet of storage capacity and serves retail energy customers in 15 states. For more information about Dominion, visit the company's website at www.dom.com
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SOURCE Dominion Virginia Power
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