Commercial electricity and gas rates, energy market structure, regulations, and utility providers for property managers operating in Virginia.
Virginia has a hybrid electricity market. While technically deregulated since 2007, limited retail choice means most commercial customers are served by Dominion Energy Virginia or Appalachian Power (AEP subsidiary). Large commercial accounts (over 5 MW) can access competitive supply. The Virginia State Corporation Commission regulates utility operations.
What this means for property managers:
Virginia's hybrid market offers limited retail choice for qualifying commercial accounts. Depending on your load size and location, you may be able to access competitive supply. Work with your utility or an energy broker to determine your eligibility and evaluate whether competitive supply makes sense for your portfolio.
Limited retail choice available for qualifying commercial accounts.
Rising
Dominion Energy rates rising 8-10% due to the Virginia Clean Economy Act mandates requiring massive offshore wind, solar, and battery storage investments recovered from ratepayers.
Virginia has no statewide energy benchmarking mandate, but the Virginia Clean Economy Act (VCEA) of 2020 is one of the most ambitious state-level clean energy laws, requiring Dominion Energy to achieve 100% clean energy by 2045 and Appalachian Power by 2050. Arlington County has adopted benchmarking for commercial buildings. The VCEA mandates significant investment in energy efficiency programs for commercial customers.
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