Dominion Energy
Dominion Energy, Inc. (NYSE: D) is one of the largest producers and distributors of energy in the United States, headquartered in Richmond, Virginia, providing electricity and natural gas services to approximately 4.5 million customers across Virginia, North Carolina, South Carolina, Utah, Idaho, and Wyoming. The company is one of the nation's foremost regulated electric utilities, with a generation portfolio that includes a significant mix of nuclear, natural gas, renewable energy, and other resources, positioning it at the forefront of the energy transition. According to its website at dominionenergy.com, Dominion Energy is committed to providing reliable, affordable, and increasingly clean energy to its customers while pursuing an ambitious clean energy transformation that includes one of the nation's most significant offshore wind development programs.
Dominion Energy's strategic priorities, described at dominionenergy.com, include expanding its offshore wind generation through the Coastal Virginia Offshore Wind project — a 2,600 megawatt offshore wind installation in the Atlantic Ocean off the Virginia coast that represents one of the largest offshore wind projects in the United States. The company has also committed to major investments in solar generation, battery energy storage, grid modernization, and clean energy transmission infrastructure to support Virginia's ambitious clean energy legislation, which mandates 100% carbon-free electricity by 2045. Dominion Energy's regulated electric utilities in Virginia and the Carolinas serve as the financial foundation of the business, with the regulatory framework providing cost recovery and a regulated return on the company's substantial capital investments in clean energy and grid modernization.
Dominion Energy has undergone significant strategic transformation in recent years, including the sale of its natural gas transmission, storage, and distribution businesses to sharpen its focus on electric utility operations and offshore wind development. According to investor materials at investors.dominionenergy.com, this strategic streamlining has been designed to reduce business risk, improve earnings quality, and concentrate the company's capital allocation on its regulated electric utility businesses where Dominion has the strongest market position, most significant growth opportunities, and clearest regulatory framework for earning returns on investment. Dominion Energy's combination of large-scale regulated electric utility operations, industry-leading offshore wind development, and comprehensive clean energy transformation plan position it as one of the most strategically ambitious and consequential participants in the ongoing transformation of the U.S. electric power sector.