Welcome to our dedicated page for Dominion Energy news (Ticker: D), a resource for investors and traders seeking the latest updates and insights on Dominion Energy stock.
Dominion Energy, Inc. (NYSE: D), headquartered in Richmond, VA, is a leading provider of electricity and natural gas, servicing approximately 7 million customers across 13 states. The company's mission is to deliver sustainable, reliable, affordable, and safe energy.
Dominion Energy is committed to achieving net zero emissions of carbon dioxide and methane from its power generation and gas infrastructure operations by 2050. One of the company's most significant recent achievements includes the launch of Charybdis, the United States' first Jones Act-compliant offshore wind turbine installation vessel. This vessel marks a crucial step in the company's Coastal Virginia Offshore Wind (CVOW) project, the largest offshore wind farm under construction in the U.S., aimed to generate enough renewable energy to power 660,000 homes by 2026.
Financially, Dominion Energy recently reported a net income of $674 million for the first quarter of 2024. The company continues to provide robust financial guidance, affirming its full-year 2024 operating earnings range of $2.62 to $2.87 per share. Dominion Energy also conducted a tender offer for its 4.65% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, reflecting its strategic financial maneuvers to optimize its capital structure.
The company is actively involved in various partnerships and community engagements. It has more than 800 Virginia-based workers engaged in the CVOW project, creating significant local job opportunities and driving economic development.
For the latest updates and detailed information about Dominion Energy, please visit DominionEnergy.com.
The Nuclear Regulatory Commission (NRC) has approved Dominion Energy's (NYSE: D) application to renew Surry Power Station's operating licenses for an additional 20 years. Located in Virginia, the power station supplies clean electricity to 419,000 homes and significantly contributes to the state's carbon-free electricity generation. This extension aids in meeting the Virginia Clean Economy Act's zero-carbon requirements by 2045 and supports over 900 jobs. The renewed licenses allow Surry to operate until 2052 and 2053, ensuring reliable energy for Dominion's 2.7 million customers in Virginia and North Carolina.
Dominion Energy (NYSE: D) reported a net income of $1.0 billion ($1.23/share) for Q1 2021, a significant improvement from a $270 million loss in Q1 2020. Operating earnings rose to $893 million ($1.09/share) compared to $788 million ($0.92/share) in the prior year. The company maintains its Q2 2021 operating earnings guidance of $0.70 to $0.80/share and affirms its full-year guidance of $3.70 to $4.00/share. This positive trend reflects strong performance and effective economic hedging activities.
The Virginia State Corporation Commission approved nine new solar projects for Dominion Energy Virginia, totaling nearly 500 megawatts, enough to power 125,000 homes. This initiative supports the Virginia Clean Economy Act's goal of net zero emissions and the production of 16,100 megawatts of renewable energy by 2035. Six of the projects are based on power purchase agreements, while three are owned by Dominion. The projects are expected to create approximately 750 jobs and generate over $100 million in economic benefits for Virginia.
Dominion Energy Virginia is inviting proposals for solar, wind, and energy storage projects as part of its commitment to the Virginia Clean Economy Act (VCEA). This initiative aims to achieve net zero greenhouse gas emissions by 2050. The company is focusing on developing up to 1,000 megawatts of solar and wind energy, as well as 175 megawatts of small-scale solar projects. They emphasize environmental justice and community engagement in project development, with deadlines for submissions set for May 20, 2021. These projects could generate enough energy to power nearly 2 million homes.
Dominion Energy recognized six employees for their volunteer contributions during 2020, with a total donation of $30,000 from the Dominion Energy Charitable Foundation to each honoree's chosen charity. Noteworthy volunteers include Tara Brady, Armond Brown, and Jennifer Ford, among others. In 2020, Dominion employees dedicated 61,000 hours to charitable activities, adapting efforts to comply with COVID-19. The annual tribute ceremony will be virtual on April 21, 2021. Dominion Energy contributed over $58 million to community causes in 2020.
Dominion Energy is investing in hydrogen as part of its clean energy transformation, aiming for net zero greenhouse gas emissions. Hydrogen, produced with renewable sources, can replace natural gas while emitting fewer to zero emissions. The company is conducting pilot projects in Utah to blend hydrogen into its gas distribution systems. It is also a lead sponsor of the Low Carbon Resources Initiative, committing $100 million over five years to R&D in clean energy technologies. This innovation is expected to reshape the energy landscape over the next 5 to 10 years.
On April 8, 2021, Dominion Energy announced a significant 22-year, $47.9 million Utility Energy Service Contract (UESC) for Marine Corps Base Quantico. The project aims to enhance energy resiliency by installing new generators and refurbishing existing microturbines, which is expected to yield $1.6 million in annual energy savings through upgrades and improvements. The contract, awarded by NAVFAC Washington, is part of a broader initiative to improve energy infrastructure, with completion slated for February 28, 2023.
Dominion Energy (NYSE: D) will hold its first-quarter earnings call on May 4, 2021, at 10 a.m. ET. Management will present recent financial results and other significant topics for stakeholders. A live webcast will be accessible on the company's investor information pages. Domestic callers can join at 1-800-341-6228, while international participants should dial 1-334-777-6993 with a passcode of 46791738#. A recording of the call will also be available after the event.
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