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About Dominion Energy, Inc.

Dominion Energy dominates the American energy market as one of its top producers and transporters of electricity and natural gas. It serves some 6 million utility and retail energy customers across 12 US states, with a special concentration in Ohio, Virginia, West Virginia and Pennsylvania. The company boasts an impressive energy portfolio with approximately 26,000 MW of generating capacity, as well as one of the largest underground natural gas storage systems with 1 trillion cu. ft. capacity. Formerly Dominion Resources, the company changed its name to Dominion Energy in 2017.

Change in Company Type

In November 2018, Dominion Energy Midstream announced its merger plan with Dominion Energy. However, the proposed merger might be investigated by authorties for final approval. 


Dominion operates through three segments: Power Generation, Gas Infrastructure, and Power Delivery.

Power Generation (55% of revenue) includes Virginia Power's regulated utility and its related energy supply operations. Under Dominion Energy, it also includes Virginia power's utility generation operation, as well as Dominion's merchant fleet, energy marketing and risk management services.

Gas Infrastructure (20% of revenue) consists of both Dominion Energy businesses and well as Dominion Energy Gas businesses. As a result, this umbrella segment includes LNG operations, Questar (a subsidiary) operations, as well as natural gas marketing.

Power Delivery, which brings in a further 20% of sales, includes Virginia Power's regulated electric transmission and distribution operations, which serve more than 2.5 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina.

In electricity, it has some 6,600 miles of transmission and 58,000 distribution lines. In the natural gas business, the company operates 14,800 miles of transmission, gathering and storage pipelines, and 52,000 miles distribution pipelines.

Geographic Reach

In addition to distributing power to customers in North Carolina, West Virginia, and Virginia through Dominion Virginia Power, Dominion serves retail energy customers in 12 US states.

The company's merchant non-renewable generation facilities are located in Connecticut, Pennsylvania and Rhode Island, with a majority of that capacity concentrated in New England.

Dominion's merchant renewable generation facilities include a fuel cell generation facility in Connecticut, solar generation facilities in Indiana, Georgia, California, North & South Carolina, Tennessee, Utah, and Connecticut, and wind generation facilities in Indiana and West Virginia.

Sales and Marketing

Dominion sells electricity to the wholesale market, local distribution companies, utilities, distribution network, and end-users. The company serves 6 million utility and retail energy customers.

Virginia Power sells electricity and provides distribution and transmission services to customers in Virginia and northeastern North Carolina. Virginia Power has 6,600 miles of electric transmission lines of 69 kV or more.

Dominion's ten largest gas customers provides approximately 40% of the company's total storage and transportation revenue, and the thirty largest, nearly 70%.

Financial Performance

In the past decade (2008-17), Dominion Energy has seen revenue shrink by some $3.3 billion dollars, with an average yearly revenue around $13 billion. During the same period, net income fluctuated between $300 million (2012) and $3 billion (2017).

In 2017, revenue rose about 10% to $9.6 billion. Majority of that increase came from the Quester acquisition ($663 million), but was aided by higher electricity capacity benefits in non-utility generators, and volume increases in the solar projects and electric utility sectors.

Net Income in 2017 increased more than 40% to $3 billion, mostly due to the favorable corporate tax rate introduced for the year, an absence of 2016 landfill closure charges ($197 million), and $115 million decrease in electric transmission expenses.

Dominion’s 2017 cash holdings reduced more than half year-over-year to $120 million, the lowest since 2012. In contrast, cash from operations was the highest in a decade, at $4.5 billion, while financing activities contributed $1.3 billion. Investment used some $6 billion. Property, plant and equipment has averaged $5.5 billion in the 2012-17 period.


Dominion is following a five-year investment plan that outlines more than $8 billion during the 2018-22 period for new energy generation capacity and upgrading facilities—from electric lines to gas storage lines and aging nuclear facilities. A $1 billion-plus construction project in Greensville County is also nearing completion.

Solar projects have emerged as a main source of investment at Dominion. This strengthens the company’s already impressive diversified portfolio of fuel sources, that includes nuclear, coal, oil, solar and other renewables.

In 2014-17 period, the company has added almost 850 MW capacity from solar generation alone, most of it through acquisition and new developments. However, the reduction in solar investment tax credits may hamper growth of these projects.

Dominion is banking on normal weather to increase growth in its electric utility operations and additional revenue stemming from new projects coming online. A lower effective tax rate due to the tax reform should also benefit the company.

However, Dominion’s working capital deficit ($5.2 billion in 2017) raises serious concerns about its short-term obligations as the company’s current liabilities increased approach $10 billion. The company has tried to boost inorganic growth through major acquisitions in the last three years.

Mergers and Acquisitions

After no acquisitions during the 2008-13 period, Dominion has pursued several costly acquisitions since.

In 2018 Dominion agreed to acquire Scana Corporation, the parent company of South Carolina Electric & Gas Company for $7.9 billion, adding a million customers to Dominion's already massive base.

Betting on stable revenues from natural gas distribution at a time when power demand is in decline, in 2016 Dominion bought Questar Corp. for $4.4 billion. The combined companies have 2.5 million electric utility customer accounts in Virginia and North Carolina; 2.3 million natural gas utility customer accounts in Idaho, Ohio, Utah, West Virginia and Wyoming; and 1.3 million retail energy and related services customer accounts in 13 states.

In 2017, Dominion Energy also completed several acquisitions of wholly-owned merchant solar projects in California, North Carolina and Virginia for $356 million. The same year, Virginia Power also entered into agreements to acquire two solar development projects in North Carolina. The projects are slated to complete in 2019 with a total expected cost of $280 million once constructed, including the initial acquisition cost, and will generate approximately 155 MW combined.

Dominion Energy, Inc.

Richmond, VA 23219-4306
Phone: 1 (804) 819-2000

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: D
Stock Exchange: , NYSE
Chairman, President and CEO: Thomas F. Farrell
SVP Operations, Engineering and Construction: Scot C. Hathaway
EVP and CFO: Mark F. McGettrick
Employees (This Location): 1,446
Employees (All Locations): 21,300

Major Office Locations

Richmond, VA

Other Locations

Denver, CO
Rifle, CO
Southington, CT
Waterford, CT
Chicago, IL
Milford, IN
Salem, MA
Middletown, MD
Roanoke Rapids, NC
Ithaca, NY
New Hartford, NY
Schenectady, NY
Silver Springs, NY
Akron, OH
Ashtabula, OH
Byesville, OH
Canton, OH
Carrollton, OH
Cleveland, OH
Doylestown, OH
Lebanon, OH
New Franklin, OH
Port Washington, OH
Saint Clairsville, OH
Warren, OH
Wickliffe, OH
Wooster, OH
Youngstown, OH
Beaver Falls, PA
Benezett, PA
Big Run, PA
Coudersport, PA
Elizabeth, PA
Gibsonia, PA
Greensburg, PA
Harrison Valley, PA
Hopwood, PA
Lawrenceville, PA
Murrysville, PA
Renovo, PA
Shelocta, PA
Westfield, PA
Providence, RI
Cedar City, UT
Ephraim, UT
Logan, UT
Moab, UT
Ogden, UT
Park City, UT
Price, UT
Richfield, UT
Salt Lake City, UT
Sandy, UT
Springville, UT
St George, UT
Vernal, UT
Alexandria, VA
Ashland, VA
Centreville, VA
Chesapeake, VA
Chester, VA
Dumfries, VA
Franklin, VA
Fredericksburg, VA
Glen Allen, VA
Herndon, VA
Hopewell, VA
Leesburg, VA
Midlothian, VA
Mineral, VA
New Canton, VA
Norfolk, VA
Petersburg, VA
Remington, VA
Richmond, VA
South Boston, VA
South Hill, VA
Staunton, VA
Suffolk, VA
Surry, VA
Virginia Beach, VA
Williamsburg, VA
Woodford, VA
Yorktown, VA
Auburn, WV
Brenton, WV
Camden, WV
Clarksburg, WV
Clendenin, WV
Grantsville, WV
Jane Lew, WV
Kopperston, WV
Lockney, WV
Morgantown, WV
Mount Storm, WV
Parkersburg, WV
Pine Grove, WV
Weston, WV
Evanston, WY
Rock Springs, WY