[D] Dominion Energy: Q3 2026 Earnings Test Virginia Rates Against Capacity Costs

Dominion Energy is a US utility built mainly on state-regulated electric businesses in Virginia, North Carolina and South Carolina, and the company expects about 95% of its earnings to come from those regulated operations[1]. According to the Drillr earnings calendar, Dominion Energy Q3 2026 earnings are scheduled for 2026-10-30, when the company will report Q3 2026 (three months ended September 30, 2026) and hold its earnings call[2]. In the latest disclosed quarter, the second quarter of 2026, consolidated operating revenue was $4.48 billion, up about 18% from $3.81 billion a year earlier[3], but net income attributable to Dominion fell 55% to $340 million and GAAP earnings per share were only $0.37, mainly because the company recorded an $820 million impairment on its nonregulated renewable natural gas (RNG) facilities[4][5][6]. Operating earnings, which exclude specific items, were $0.79 per share, including $0.03 of RNG 45Z clean-fuel credits[7]. The 2026 operating earnings guidance the company gave in February is $3.40 to $3.60 per share excluding 45Z credits, with a total midpoint of $3.57 including them[8], and management reaffirmed all guidance on the July call[7]. The Drillr earnings calendar shows a third-quarter consensus of $1.209 in operating earnings per share and about $4.925 billion in operating revenue, against actual results of $1.06 and $4.527 billion in the same quarter last year[2].

Three things matter most in these third-quarter results, and each tests a different part of the business: the profit quality of the largest segment, execution on the largest single project and the recovery of returns at the second-largest regulated utility. The first is whether Dominion Energy Virginia (DEV) can keep its profit increase above the contribution of the new base rates alone in the peak-load quarter: in the second quarter the segment earned $670 million, up $121 million, with the biennial rate review contributing $105 million while purchased capacity costs subtracted $34 million[4][9]. The second is whether the Coastal Virginia Offshore Wind (CVOW) project can hold its revised schedule and budget: at the second-quarter call it was 81% complete with 31 turbines operating, but final turbine installation had slipped to the end of 2027 and the cost estimate had risen about 2% to $11.65 billion[10]. The third is whether Dominion Energy South Carolina (DESC) can return to growth under new base rates worth $219 million a year that took effect in July, because the segment earned $231 million in the first half, $30 million less than a year earlier[4][11]. Regulatory review of the NextEra merger sits behind all three and will shape how each result is read.

Company Background and Business Structure

Dominion Energy is a vertically integrated utility group centered on regulated electricity. Headquartered in Richmond and incorporated in Virginia in 1983, it served about 4.1 million mainly electric customers in Virginia, North Carolina and South Carolina at the end of 2025 and owned about 30.7 GW of generating capacity, 10,800 miles of transmission lines and 80,400 miles of distribution lines[1]. In the business review concluded in March 2024, the company sold all of its regulated gas distribution operations other than DESC's to Enbridge, and in 2023 it sold its remaining 50% interest in Cove Point; it now expects about 95% of earnings to come from state-regulated electric operations[1].

DEV is the core of both earnings and investment. Through Virginia Power, the segment generates, transmits and distributes electricity in Virginia and North Carolina, and it averaged about 2.829 million distribution customers in the second quarter of 2026[12]; its external revenue was $3.41 billion, about 76% of consolidated operating revenue, and segment net income was $670 million[3]. Data centers are its most distinctive customer group, accounting for 28% of Virginia Power's electricity sales in 2025 (26% in 2024) and concentrated mainly in Loudoun County[13]. Base rates are set by the Virginia State Corporation Commission (SCC) in biennial reviews, specific investments are recovered through riders, and fuel and purchased energy costs pass through to customers via the fuel clause[14].

DESC and Contracted Energy are two smaller businesses of a different nature. DESC serves about 833,000 electric and 484,000 gas customers in South Carolina[15], and in the second quarter it had $876 million of external revenue and $105 million of segment net income; Contracted Energy mainly comprises the Millstone nuclear station in Connecticut plus nonregulated solar and RNG facilities, with $256 million of external revenue and $31 million of segment net income in the quarter[3]. Millstone makes the company the largest producer of carbon-free electricity in New England, and the company intends to apply for license extensions for it[1].

Several structural relationships in the consolidated accounts also matter. Stonepeak holds a 50% noncontrolling interest in CVOW[16], so $112 million of DEV's second-quarter profit was attributed to noncontrolling interests[3], and the two partners each fund half of the project while total cost stays below $11.3 billion[17]. The Corporate and Other segment carries parent-company interest and collects specific items excluded from operating earnings, such as storm losses, unrecoverable CVOW costs, impairments and nuclear decommissioning trust results; it lost $466 million in the second quarter[4][18]. On May 15, 2026, the company signed a merger agreement with NextEra Energy under which each Dominion share converts into 0.8138 NextEra shares and Dominion holders would own about 25.5% of the combined company, and shareholders approved the merger at a special meeting on September 3[19][20].

Financial History and Current Position

Revenue and profit were both clearly higher in 2025 than in 2024. Consolidated operating revenue rose from $14.459 billion in 2024 to $16.506 billion in 2025, and net income attributable to Dominion rose from $2.034 billion to $2.998 billion, with quarterly amounts in 2025 of $665 million, $760 million, $1.006 billion and $567 million[21]. The third quarter is usually the most profitable: in the third quarter of 2025, operating revenue of $4.527 billion and diluted EPS of $1.16 were both the highest of the year[21]. DEV's net income rose $314 million for the year, driven mainly by a $507 million increase in rider equity returns and partly offset by a $275 million reduction from the sale of a noncontrolling interest[22].

Capital spending far exceeds operating cash flow, which is why the company keeps raising funds. Virginia Power generated $3.856 billion of operating cash flow in 2025 while spending $10.333 billion on plant construction and other property additions[23]. The company's capital plan for 2026 through 2030 totals about $65 billion[1], of which DEV accounts for $55.8 billion over five years and $9.6 billion in 2026[16]. The common dividend was $0.6675 per quarter throughout 2024 and 2025[21].

In the first half of 2026, regulated profits grew but nonregulated impairments pulled GAAP earnings sharply lower. A large share of the second-quarter revenue increase was fuel revenue passed through with costs, as DEV's electric fuel and energy purchases rose from $729 million to $1.077 billion[3], while net income attributable to Dominion fell from $760 million to $340 million[4]. Operating earnings were $0.95 per share in the first quarter and $0.79 in the second, and first-quarter GAAP EPS was $0.69[24][7]. First-half DEV segment net income was $1.34 billion, up about 21%, DESC earned $231 million, down about 11%, Contracted Energy earned $150 million and Corporate and Other lost $760 million[4].

The first-half cash gap was again filled with debt and equity. Consolidated operating cash flow was $2.457 billion, with deferred fuel absorbing $804 million; spending on plant construction and other property additions was $5.799 billion, while the company issued $4.475 billion of long-term debt and borrowed $1.25 billion under a 364-day term loan[25]. The company said its 2026 common equity program has been fully completed and it maintained its 2026 operating earnings, credit metric and dividend guidance[7].

Operating Model

Dominion's revenue splits into non-fuel revenue, which grows with rates and invested capital, and pass-through fuel revenue, which moves with commodity prices. Non-fuel revenue is roughly the approved base rate multiplied by electricity sales, plus riders that recover costs and returns on specific capital; Virginia's 2025 biennial review approved a $566 million annual base rate increase from January 2026 and another $210 million from January 2027 at an authorized ROE of 9.80%[14], while the South Carolina settlement adds $219 million a year from July 2026 at an authorized ROE of 9.99%[11]. Fuel revenue passes fuel and purchased energy costs through to customers via the fuel clause, so it can push operating revenue up or down significantly while having little to do with profit[3]. Electricity sales depend on data center connections, customer growth and weather; DEV delivered 24.7 million MWh in the second quarter, up 4%, even though cooling degree days fell 3%[12].

Regulated profit is essentially the authorized ROE multiplied by equity capital, and the lag comes from the timing of rate reviews and rider updates. The more capital the company invests and the more promptly rates or riders are updated, the higher profit becomes, while depreciation, interest and labor costs that rise before the next review depress the earned return first; in the test period for the 2025 review, Virginia Power earned an ROE of only 7.77%, below the 9.70% then authorized[14]. Purchased capacity is a distinctive negative driver: the SCC did not approve moving it into the fuel clause, so higher PJM capacity prices are absorbed by the company, and DEV's purchased capacity expense rose from $17 million to $78 million in the second quarter[14][3].

DEV's second-quarter earnings bridge shows the direction and timing of these drivers clearly. The biennial review added $105 million, rider equity returns $79 million and customer usage $23 million, while purchased capacity subtracted $34 million, nuclear production tax credits $15 million, labor and administrative costs $14 million and depreciation $11 million, for a net segment increase of $121 million[9]. New rates and riders enter non-fuel revenue in the same quarter and capacity prices enter expenses in the same quarter, while depreciation and interest accumulate quarter by quarter with investment, and the next base rate step does not take effect until January 2027[14].

The key to the cash model is that investment far exceeds operating cash flow, with the gap covered by debt, equity and partner funding. Operating cash flow is roughly net income plus depreciation and deferred taxes, adjusted for working capital such as deferred fuel; because fuel costs are incurred before they are recovered through the fuel clause, deferred fuel alone absorbed $804 million in the first half[25]. Besides new long-term debt and the completed equity issuance, Stonepeak's contributions to CVOW under the partnership agreement are another source of funding[25][17]. Any change in CVOW's cost or schedule therefore affects capital spending, financing needs and the point at which invested capital starts earning a return all at once.

Industry and Competitive Position

Dominion's most important structural feature is that it sits in the world's largest data center cluster. PJM projects 5.4% average annual peak load growth over the next ten years for its DOM Zone, which includes DEV's service territory, and the concentration of data centers in Loudoun County requires heavy investment in transmission and generation[13]. On the second-quarter call, the company said about 12 GW of data center capacity was under signed electric service agreements (ESAs) and more than 53 GW was in various stages of contracting, compared with about 10.4 GW and more than 50 GW at the first-quarter call[26][24]; nine of the company's ten highest peak-demand days on record have occurred in 2026 so far[7].

As a vertically integrated utility, the company faces no direct retail competition in its territory, and its real constraints are regulatory. Biennial reviews set base rates and the 9.80% authorized ROE[14], and from January 2027 the SCC requires new high-load customers to sign 14-year contracts at connection, post collateral over that period and commit to minimum demand for distribution, transmission and generation revenue in order to limit cross-subsidies and stranded costs[13]. In South Carolina, the company's electric and gas businesses have now completed four consecutive rate cases by settlement[26].

Compared with peers, the company's capital plan is heavily concentrated in one state and one large offshore wind project, which makes it both a growth source and a point of concentrated risk. DEV accounts for $55.8 billion of the 2026-2030 capital plan, with new generation such as CVOW among its main projects[16][13]. The proposed NextEra merger would place it in the same group as Florida Power & Light (FPL), whose typical residential bills the two companies say are more than 37% below the national average[27]. The public record lacks directly comparable peer financials, so the relative level of costs and returns still cannot be quantified.

Core Debates

Dominion Energy Virginia grew second-quarter net income 22%, mainly on new base rates effective in 2026 and rider returns on capital, while PJM capacity costs ate into the gain. In the peak-load third quarter, can the segment's profit increase still exceed what the new rates alone contribute?

This question determines whether the foundation of the company's long-term growth target is sound. DEV contributes about three-quarters of revenue[3] and receives most of the roughly $65 billion capital plan[1]; the company targets 5% to 7% annual growth in operating EPS off the 2025 guidance midpoint of $3.30 and sees itself in the upper half of that range starting in 2028[8]. That target depends on the new base rates converting fully into profit rather than being offset by capacity, interest and labor costs before the next review.

First-half evidence shows the rate reset is lifting profit, but costs are absorbing part of it at the same time. DEV segment net income was $670 million in each of the first two quarters of 2026, up $109 million and $121 million respectively, for a first-half total of $1.34 billion, up $230 million[4]. In the first half, the biennial review contributed $210 million and rider equity returns $163 million, while purchased capacity subtracted $76 million[9]. Second-quarter sales of 24.7 million MWh rose 4% while cooling degree days fell 3%, which indicates that usage growth did not come from weather[12].

In financial terms, new rates and riders raise non-fuel revenue, capacity prices raise purchased capacity expense, and depreciation, labor and interest rise with investment; the net of the three sets DEV segment net income. The alternative reading is that first-half growth came mainly from a one-time rate reset, and that profit growth will slow in the second half as capacity costs flow through in full while the next rate step waits until January 2027[14]. In addition, the 2025 biennial review was appealed to the Supreme Court of Virginia in March 2026 and remains undecided[28].

The most direct third-quarter test is whether DEV's year-over-year profit increase is at least $105 million, whether it reaches the second quarter's $121 million, and whether the purchased capacity drag exceeds twice the second-quarter figure[9]. Whether sales growth holds near 4% when set against cooling degree days, and whether contracted ESA capacity disclosed on the call stays above 12 GW, will also show whether load growth is durable[12][26]. If DEV's increase is below $105 million, the rate increase has been offset by costs; if the Supreme Court overturns or remands the 2025 review, the base rate increase itself may have to be adjusted.

Dominion's 2.6-gigawatt Coastal Virginia Offshore Wind project is 81% complete, but in the second quarter the final turbine installation slipped six months to the end of 2027 and the cost estimate rose to $11.65 billion. Can third-quarter installation pace and costs hold to the revised plan?

CVOW is the company's largest single project, and its schedule and cost affect earnings, cash and regulatory relationships at once. The cost of this 2.6 GW project is recovered from Virginia customers through an SCC-approved rider[29], so delays push back the point at which invested capital starts earning a return; above $11.3 billion of total cost, if Stonepeak elects to keep contributing, Virginia Power must fund 67% to 83% of the incremental capital[17], and any portion that cannot be recovered from customers is charged as a specific item that directly reduces GAAP net income[18].

The project made substantial progress in the first half, but the second quarter brought a schedule delay and a cost increase. At the first-quarter call, it was more than 75% complete, had achieved first power in March, had installed all 176 transition pieces and all three offshore substations, was averaging about two days per installation for the last four turbines and carried a budget of $11.4 billion[24]. At the second-quarter call, it was 81% complete with 31 turbines operating and delivering more than 450 MW to the grid; citing slower loadout at Portsmouth Marine Terminal, longer jacking operations at geotechnically difficult locations and added contingency for weather and vessel maintenance, the company moved final turbine installation six months later to the end of 2027 and raised total cost about 2% to $11.65 billion, retaining $123 million of unused contingency, with the financing partner absorbing one-third of the increase[10]. On the 10-Q basis, total cost is about $11.7 billion including $0.1 billion of contingency, and the projected levelized cost of energy is about $83/MWh[29].

Financially, phased turbine commissioning adds in-service capital and rider returns that lift DEV segment net income, while cost overruns increase capital spending, financing needs and unrecoverable charges. Virginia Power's share of unrecoverable cost charges was $65 million pre-tax ($48 million after tax) in the first half, compared with $48 million pre-tax a year earlier[18]. The alternative reading is that the revised schedule already contains enough margin, that third-quarter weather windows are better and installation could run faster than a straight-line pace, and that the remaining cost risk lies mainly in still-unsettled network upgrade costs and tariffs[29][30]. The third and final offshore substation is expected to be energized by the end of 2026, at which point about 50% of the adjusted project investment will be in service[10].

On the October 30 call, the points to watch are whether at least 57 turbines are installed, whether the total cost estimate holds at about $11.7 billion, whether the plan to energize the third offshore substation by year-end is unchanged, and whether any new unrecoverable cost charge appears in the third quarter[10][29]. Another delay or cost increase would show that schedule and cost risk has not yet peaked; fewer than 57 installed turbines would show that installation is still short of the required pace even in a better weather window.

Dominion Energy South Carolina's profit fell in the first half, and new base rates worth $219 million a year took effect in July. As the first full quarter under those rates, can the third quarter return the South Carolina business to growth?

DESC is the largest regulated business outside Virginia, and the effect of its new rates tests the company's ability to earn a return on investment in South Carolina. The segment had $876 million of external revenue in the second quarter, about one-fifth of consolidated operating revenue[3]. Its electric and gas businesses have completed four consecutive settled rate cases[26], and South Carolina Commission approval is also one of the required conditions for the NextEra merger[31], so whether the new rates offset rising depreciation, interest and other costs will also bear on how rates and returns are judged in the merger review.

DESC's profit declined in the first half, and the rate contribution under the old rates was small. First-quarter segment net income was $126 million, down $26 million, and second-quarter income was $105 million, down $4 million[4]. In the second quarter, base rates contributed only $7 million and customer usage $14 million, while depreciation subtracted $7 million and "other" items $5 million; for the first half, "other" items subtracted $38 million in total[32]. DESC averaged 833,000 electric customers in the second quarter, up 2%, and electricity sales rose 2% even as cooling degree days fell 6%[15].

The new rates are the biggest change this quarter, but views differ on how much cost they can cover. DESC filed in January for a $331 million non-fuel base rate increase at a 10.50% ROE, reached a settlement in May with the South Carolina Office of Regulatory Staff and other parties for $219 million a year at a 9.99% ROE effective from the first July billing cycle, and agreed to a one-time residential refund whose $5 million after-tax cost was recorded in the second quarter[11]. The transmission runs from new rates raising non-fuel revenue, through roughly 2% customer growth and usage lifting sales, to depreciation and interest rising with investment and offsetting part of the gain. If the first-half decline came mainly from one-time "other" costs, the third quarter should rebound clearly; if it came from persistent cost growth, the $219 million annual increase can only partly make up for it.

In the third quarter, the points to watch are whether DESC segment net income grows year over year, whether the base rate case alone contributes about $40 million, and whether electric customers and sales keep growing at about 2%[32][15]. A year-over-year decline in segment income would mean costs are rising faster than rates; a base rate contribution below $20 million would mean the new rates are landing well short of what the settlement amount implies.

Risks and Falsifiers

The first risk is that the NextEra merger is conditioned or delayed in Virginia. In October, SCC staff recommended denying the merger as proposed unless the companies accept an independent DEV board, dividend restrictions, maintenance of Virginia employee levels for 10 years and another review seven to eight years after closing, and Governor Spanberger asked for a six-year freeze on residential base rates[33]. The financial exposure lies in the deal terms themselves: each Dominion share converts into 0.8138 NextEra shares plus a share of a $360 million cash payment at closing[19], the $2.25 billion of customer bill credits is funded by NextEra[31], NextEra must pay a $4.83 billion termination fee if the deal ends over regulatory conditions, and Dominion must pay NextEra $2.24 billion if it switches to a superior proposal[34]. The observation that would falsify this risk is SCC approval without burdensome conditions after hearings beginning November 17, together with a final South Carolina Commission order by January 29, 2027 as scheduled[26].

The second risk is that nonregulated impairments keep widening the gap between GAAP and operating earnings. The $820 million impairment on RNG facilities in the second quarter left GAAP EPS at only $0.37, far below operating EPS of $0.79[6][7], and in the first half the company also impaired certain nonregulated solar facilities[5]. The exposure is GAAP net income and the Contracted Energy and Corporate and Other segments, the latter of which lost $466 million in the second quarter[4]. If the third quarter brings no new nonregulated impairment and the gap between GAAP and operating results returns to routine specific items such as storm losses and nuclear decommissioning trust gains, this risk is largely resolved.

The third risk is that the Supreme Court of Virginia overturns or remands the 2025 biennial review. The appeal was filed in March 2026 and is still pending[28]; if the 9.80% authorized ROE were lowered, the $566 million base rate increase for 2026, the $210 million step for 2027 and rider returns calculated on that ROE could all be cut[14]. The exposure is the biennial review item in DEV segment net income ($210 million in the first half) and the rider equity return item ($163 million)[9]. The falsifier is a Supreme Court decision upholding the order, or a third-quarter 10-Q that still shows the matter pending with no reserve recorded.

The fourth risk is that CVOW turbine installation falls behind again or costs keep rising. Management itself cites unexpected weather, geotechnical problems at remaining locations and vessel maintenance[30], and the 10-Q notes that the effect of network upgrade costs and tariffs remains subject to change[29]. If total cost exceeds about $11.7 billion, the unrecoverable portion borne by Virginia Power would grow, exposing GAAP net income through unrecoverable charges ($65 million pre-tax in the first half) as well as DEV capital spending and financing needs[18]. A third quarter that keeps cost at about $11.7 billion and the end-2027 schedule, with no new charge, would falsify this concern.

The fifth risk is that DESC's "other" costs, depreciation and interest keep growing so that the new rates only partly offset them. The exposure is DESC segment net income, which was $231 million in the first half, down $30 million[4], with "other" items subtracting $38 million and depreciation $13 million[32]. If DESC segment net income grows year over year in the third quarter and the base rate case contributes at least $40 million, this risk is falsified.

What to Watch Next

• Virginia rates versus capacity costs: DEV segment net income was $670 million in the second quarter, up $121 million[4]; a third-quarter increase of at least $105 million would confirm the reading, while a smaller one would mean costs are absorbing the rate increase.
• Purchased capacity drag: it was $34 million in the second quarter[9]; a drag above $68 million would mean capacity costs are eroding profit faster.
• DEV sales and contracted data center load: 24.7 million MWh (up 4%) and about 12 GW under ESAs[12][26]; growth well below 4% against cooling degree days, or a lower ESA figure, would weaken the load-growth case.
• CVOW pace: 31 turbines were operating as of July 31, 2026[10]; at least 57 installed by the October 30 call would confirm the revised pace, and fewer would show it is falling short.
• CVOW cost and charges: $11.65 billion and $65 million of pre-tax first-half charges[10][18]; another increase or a new charge would show the risk has not peaked.
• South Carolina rates: DESC earned $105 million in the second quarter with a $7 million base rate contribution[4][32]; a year-over-year decline or a contribution below $20 million would falsify the recovery case.
• Merger review: Virginia hearings begin November 17 and a final South Carolina order is expected by January 29, 2027[26]; approval without burdensome conditions on schedule would falsify the merger risk.

Conclusion

Dominion's earnings are driven by the size of its regulated capital base, its authorized returns and the timing of rate updates, and the most important relationship right now is the net of Virginia's new rates against PJM capacity costs. DEV segment net income rose $230 million in the first half[4], driven mainly by the biennial review and rider returns while purchased capacity subtracted $76 million[9]; over the same period, consolidated operating cash flow of $2.457 billion fell far short of $5.799 billion of capital spending, with the gap covered by new debt[25]. CVOW's schedule and cost, and how fully South Carolina's new rates land, will determine whether that growth carries into the second half.

Since the latest results, only one independent interpretation directly relevant to the core debates can be checked against its original text: the written recommendation of Virginia SCC staff, as reported by Taylor Locke of WTKR[33]. Staff concluded that the companies have not shown the merger would protect reliable service at reasonable rates, citing financial risks from NextEra's unregulated businesses and doubts about whether the commitments go far enough, and so recommended denial as proposed, while saying they would not oppose approval if the companies accept conditions such as an independent DEV board, dividend restrictions, employment maintenance and a later review[33]. That stands in clear conflict with the Virginia package the companies offered in September, which doubled residential bill credits from two years to four, committed to maintaining Virginia headcount for five years and kept DEV's name, local leadership and accountability to the SCC[27], whereas staff want a 10-year employment commitment and limits on dividends. This outside view bears mainly on the cross-cutting risk of merger approval, because added conditions could restrict the Virginia subsidiary's dividends and capital arrangements and could also touch the burdensome-condition provisions of the merger agreement[34].

What would materially strengthen the current understanding is a combination of observations arriving together: a third-quarter DEV profit increase of at least $105 million with a contained capacity drag, at least 57 CVOW turbines installed with cost held near $11.7 billion and no new charge, DESC returning to year-over-year growth with a base rate contribution of about $40 million, and no new nonregulated impairment. Conversely, if DEV's gain is absorbed by capacity and interest costs, CVOW slips or rises in cost again, DESC keeps declining, or the SCC attaches conditions regarded as burdensome to the merger, the current understanding of the company's earnings path would need to be revisited.

Sources

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[20] D 8-K filed 2026-09-03 · special meeting vote results · 2026-09-03 · 8-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000715957&type=8-K&dateb=&owner=include&count=40

[21] D 10-K filed 2026-02-23 · quarterly financial data 2025 and 2024 · 2026-02-23 · 10-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000715957&type=10-K&dateb=&owner=include&count=40

[22] D 10-K filed 2026-02-23 · Dominion Energy Virginia 2025 vs 2024 earnings drivers · 2026-02-23 · 10-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000715957&type=10-K&dateb=&owner=include&count=40

[23] D 10-K filed 2026-02-23 · Virginia Power cash flows 2025 · 2026-02-23 · 10-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000715957&type=10-K&dateb=&owner=include&count=40

[24] D earnings call 2026-05-01 (1Q26) · results and CVOW progress · 2026-05-01 · earnings-call · https://investors.dominionenergy.com/news-and-events/events-and-presentations/default.aspx

[25] D 10-Q filed 2026-07-31 · consolidated cash flows six months 2026 · 2026-07-31 · 10-Q · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000715957&type=10-Q&dateb=&owner=include&count=40

[26] D earnings call 2026-07-31 (2Q26) · data centers, merger schedule and regulation · 2026-07-31 · earnings-call · https://investors.dominionenergy.com/news-and-events/events-and-presentations/default.aspx

[27] D 8-K filed 2026-09-14 · enhanced Virginia benefits package · 2026-09-14 · 8-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000715957&type=8-K&dateb=&owner=include&count=40

[28] D 10-Q filed 2026-07-31 · 2025 Biennial Review appeal · 2026-07-31 · 10-Q · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000715957&type=10-Q&dateb=&owner=include&count=40

[29] D 10-Q filed 2026-07-31 · CVOW estimated total project cost · 2026-07-31 · 10-Q · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000715957&type=10-Q&dateb=&owner=include&count=40

[30] D earnings call 2026-07-31 (2Q26) · management-stated risks · 2026-07-31 · earnings-call · https://investors.dominionenergy.com/news-and-events/events-and-presentations/default.aspx

[31] D 10-Q filed 2026-07-31 · NextEra merger conditions and customer credits · 2026-07-31 · 10-Q · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000715957&type=10-Q&dateb=&owner=include&count=40

[32] D 10-Q filed 2026-07-31 · Dominion Energy South Carolina quarterly earnings drivers · 2026-07-31 · 10-Q · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000715957&type=10-Q&dateb=&owner=include&count=40

[33] WTKR 2026-10-19 · SCC staff recommends denial of Dominion-NextEra merger as proposed · 2026-10-19 · Virginia State Corporation Commission staff(WTKR 报道) · https://www.wtkr.com/news/local-news/gov-spanberger-urges-rate-freeze-scc-staff-recommends-denial-of-dominion-nextera-merger

[34] D 8-K filed 2026-05-18 · merger termination rights and fees · 2026-05-18 · 8-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000715957&type=8-K&dateb=&owner=include&count=40