Summary
Dominion Energy, Inc. (D) reported strong financial performance for the fiscal year ending December 31, 2025, with net income attributable to Dominion Energy increasing by 47% to $2,998 million, or $3.45 per diluted share. This growth was driven by several factors including higher market-related impacts on pension and other postretirement plans, increased rider equity returns reflecting significant capital investments at Virginia Power, and favorable rate case settlements in South Carolina. The company continued its strategic focus on expanding and improving its regulated electric utilities and long-term contracted businesses while transitioning to cleaner energy. Key investments are being made in zero-carbon and renewable generation, grid transformation, and transmission and distribution resiliency, supported by an approximately $65 billion capital expenditure plan for 2026 through 2030. The significant progress on the CVOW Commercial Project, despite some cost impacts from tariffs and network upgrades, remains a cornerstone of their clean energy strategy. Divestitures of gas distribution operations were completed in 2024, aligning the company with its core regulated electric utility and long-term contracted businesses.
Key Highlights
- 1Net income attributable to Dominion Energy increased by 47% to $2,998 million ($3.45 per diluted share) in 2025, up from $2,034 million ($2.33 per diluted share) in 2024.
- 2Dominion Energy Virginia reported a 11% increase in net income to $2,101 million, driven by higher rider equity returns and increased sales.
- 3The company has a substantial capital expenditure plan of approximately $65 billion for 2026-2030, focusing on clean energy initiatives, grid modernization, and infrastructure resilience.
- 4The CVOW Commercial Project is progressing, with the majority of turbines expected in service by the end of 2026. The total project cost is estimated at approximately $11.5 billion, with certain cost overruns being shared with customers.
- 5Dominion Energy successfully completed the sale of its regulated gas distribution operations (excluding DESC) to Enbridge in 2024, streamlining its business focus.
- 6The company's safety performance continues to improve, with an OSHA Recordable Rate of 0.26 in 2025, significantly below the industry average.
- 7Shareholders received dividends totaling $2.67 per share for 2025, consistent with the previous year, indicating a stable return to investors.