Dominion Energy

Dominion Energy delivers electricity and natural gas to millions of homes and businesses. It operates large power plants and maintains thousands of miles of wires and pipes. The company helps people keep their lights on and heat their buildings across several states.

What Dominion Energy Does

• Dominion Energy Virginia: Provides regulated electricity to 2.8 million customers in Virginia and North Carolina through a mix of power plants and power lines.
• Dominion Energy South Carolina: Supplies electricity to 800,000 customers and natural gas to 500,000 customers in South Carolina.
• Contracted Energy: Operates the Millstone nuclear plant in Connecticut and various solar projects that sell power under long-term contracts.
• Gas Distribution: Managed regulated natural gas sales and storage in several states before selling most of these operations in 2024.

Recent Changes and Growth

• Sold regulated gas operations in Ohio, Utah, and North Carolina to Enbridge during 2024 for cash and debt assumption.
• Completed the sale of a 50% noncontrolling interest in the Cove Point liquefied natural gas facility to BHE in September 2023.
• Partnered with Stonepeak in October 2024 by selling a 50% stake in a major offshore wind project off the coast of Virginia.
• Formed a joint venture called Valley Link with AEP and FirstEnergy in February 2025 to develop new high-voltage transmission lines.
• Acquired a new offshore wind lease area off the coast of North Carolina in October 2024 to expand renewable energy options.

A Focus on Reliability

The company maintains a massive network of 10,800 miles of transmission lines and 30.7 gigawatts of power capacity to ensure steady service. It is currently shifting its fleet toward zero-carbon sources like solar and offshore wind while extending the life of its nuclear stations.

The Recent Numbers

• Revenue rose to $4.1 billion in Q4 2025, a 20.4% increase from the same period in 2024.
• Operating income reached $756 million in Q4 2025, up 93.4% year-over-year.
• Net income hit $586 million in Q4 2025, compared to a $76 million loss in Q4 2024.
• Operating cash flow grew to $987 million in Q4 2025, up 54% from $641 million in Q4 2024.
• Market capitalization increased to $50 billion by the end of 2025, representing 9.1% growth over the previous year.

Bottom Line

Dominion Energy has transitioned into a simplified, state-regulated utility by selling its natural gas distribution and storage assets. This shift focuses the business on meeting rising electricity demand through massive investments in the power grid and renewable energy projects.