Dominion Energy, Inc. - D STOCK NEWS

The 39th annual Dominion Energy Christmas Parade in Richmond, VA, is set to take place on December 3, 2022, starting at 10 a.m. Grand Marshals Nutzy and Nutasha will lead a festive procession featuring themed floats, dance troupes, and marching bands along a 2.2-mile route. This year’s theme is "A Very RVA Christmas", celebrating Richmond's holiday spirit. Sponsored by the Dominion Energy Charitable Foundation, the parade showcases regional talent and is free for all spectators. For details, visit www.richmondparade.org.

On Utility Scam Awareness Day, Dominion Energy emphasizes customer vigilance against utility scams. The company highlights key warning signs, such as threats of immediate payment and service disconnection, which are not typical of their practices. Customers are reminded that Dominion Energy never demands payment via credit/debit cards or wire transfers. The advisory also notes that scammers often target small businesses, instilling urgency during peak hours. Dominion Energy encourages customers to hang up on suspicious calls, verify account information, and seek assistance for financial concerns.

Dominion Energy Virginia announces assistance programs to support customers facing high winter heating bills. President Ed Baine highlights the rise in fuel costs, indicating increased need for help. Key programs include EnergyShare, offering up to $600 for bill payments without income restrictions, and free energy efficiency upgrades for eligible families. Additional assistance options available through Virginia Department of Social Services and extended payment plans for overdue bills. The company aims to provide reliable, affordable energy to its 7 million customers across 15 states.

Dominion Energy (NYSE: D) has promoted Steven D. Ridge to the role of senior vice president and chief financial officer, succeeding James R. Chapman, who is leaving for a new finance position outside the utility sector. Ridge, with extensive experience in energy investment banking and prior roles in mergers and acquisitions, corporate strategy, and investor relations at Dominion, will commence his duties this month. Under Chapman's leadership, the company has transitioned towards state-regulated utility operations, aligning with decarbonization goals and a commitment to achieving Net Zero emissions by 2050.

Dominion Energy reported a third-quarter 2022 GAAP net income of $778 million ($0.91 per share) compared to $654 million ($0.79 per share) in Q3 2021. Operating earnings for the same period remained steady at $944 million ($1.11 per share). The company has narrowed its full-year 2022 operating earnings guidance to $4.03 to $4.18 per share and expects Q4 earnings between $0.98 and $1.13 per share. A comprehensive review is underway to enhance shareholder value and address economic challenges, including inflation and higher fuel prices.

Dominion Energy has declared a quarterly dividend of 66.75 cents per share, scheduled for payment on Dec. 20, 2022, to shareholders of record by Dec. 2, 2022.

This marks the 379th consecutive dividend payment by Dominion or its predecessor. The last quarterly dividend was announced on Aug. 3, 2022.

Dominion Energy Virginia, along with key stakeholders, has filed a settlement agreement regarding the 2.6-gigawatt Coastal Virginia Offshore Wind (CVOW) project, aimed at balancing costs and stakeholder interests. If approved by the State Corporation Commission, the agreement would protect customers from unforeseen construction cost increases and enhance performance reviews. The project, with an estimated investment of $9.8 billion, is projected to generate clean energy for 660,000 homes by late 2026 and could save Virginia customers up to $6 billion over its first decade of operation.

Dominion Energy Virginia has proposed nearly two dozen solar and energy storage projects in its annual clean energy filing, aiming to generate over 800 megawatts (MW) of power, enough for 200,000 homes. The initiative is expected to create approximately 4,800 jobs and generate over $920 million in economic benefits. The projects aim to enhance renewable energy use, leading to reduced fuel costs for Virginia customers. The projects require state and local approvals and are projected to be completed between 2023 and 2025, adding an estimated $0.38 to residential bills.