Dominion Energy Virginia

Dominion Energy Virginia, formerly Virginia Electric and Power Company (VEPCO), is the largest electric utility in the Commonwealth of Virginia and the primary operating utility subsidiary of Dominion Energy, Inc. (NYSE: D) — one of the nation's largest producers and distributors of energy. Serving approximately 2.7 million electric customers and 1.3 million natural gas customers across Virginia and North Carolina, Dominion Energy Virginia provides electricity to the vast majority of the state's population from the suburbs of Washington D.C. through Richmond, Hampton Roads, and across Virginia's rural and coastal communities. According to its website at dominionenergy.com, the utility is one of the most ambitious clean energy transition utilities in the nation, with Virginia's Clean Economy Act requiring the company to achieve 100% carbon-free electricity by 2045 and zero carbon from the electric grid by 2045 — one of the most ambitious state-mandated clean energy requirements in the United States.

Dominion Energy Virginia's clean energy transition, described at dominionenergy.com, encompasses the retirement of coal and natural gas generation and replacement with massive investment in offshore wind — including the Coastal Virginia Offshore Wind project, slated to be one of the largest offshore wind farms in the United States — alongside utility-scale solar, battery storage, and grid modernization infrastructure. The Coastal Virginia Offshore Wind project, located off the Virginia Beach coast in federal waters, represents a multi-billion dollar investment that would provide thousands of megawatts of offshore wind generation, transforming Virginia's electricity sector from fossil fuel dependence to renewable energy leadership. Dominion Energy Virginia's clean energy investment program is supported by the Virginia State Corporation Commission's regulatory framework under the Clean Economy Act, which establishes a regulated return mechanism for qualified clean energy investments.

Dominion Energy Virginia's scale — as the largest electric utility serving Virginia — and its massive clean energy transition program make it one of the most strategically significant utilities in the Mid-Atlantic and one of the most active capital-deploying utilities in the U.S. clean energy transition. According to dominionenergy.com, the company's offshore wind, solar, battery storage, and grid modernization investments represent one of the largest utility capital expenditure programs in the nation, creating significant utility investment opportunity in Virginia's energy infrastructure as the Clean Economy Act mandates reshape the state's entire power generation system. Dominion Energy Virginia's combination of largest Virginia utility status, historic offshore wind leadership, Clean Economy Act mandate, 100% carbon-free electricity commitment, and critical role in Virginia's clean energy transformation establishes it as one of the most consequential electric utilities participating in the U.S. energy transition.