Summary
Dominion Energy has regulated electric and natural gas utility operations in 13 states. The company generates, transmits and distributes electricity, retail and wholesale operations. Dominion’s portfolio consists of 30,200 megawatts of generation capacity, 85,600 miles of electric distribution lines, and 10,600 miles of electric transmission lines. Dominion serves 4.5 million customers. Its electric service region is primarily Virginia, North Carolina, and South Carolina. In 2023, DEV accounted for about 67% of total revenue and DESC accounted for about 24%.
The company operates five nuclear generation sites and Dominion’s fuel mix is 42% nuclear, though generation still comes from gas, coal, and oil. To change this mix, Dominion is developing offshore wind farms and increasing its use of solar power. However, it does not expect to achieve net-zero emissions until 2050, in line with peers heavily reliant on coal.
The company has undergone a business review that ended in March 2024. As a result, it has increased its asset disposals. In 2023 and 2024, the company its LNG operation
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