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Tag: dominion energy

Dominion Energy Closes on Sale to Berkshire Hathaway Energy
Business

Dominion Energy Closes on Sale to Berkshire Hathaway Energy

Dominion Energy Closes on Sale of Majority of Gas Transmission & Storage Assets to Berkshire Hathaway Energy Total enterprise value of approximately $8 billion representing more than 80% of total transaction value Remaining assets expected to close in early 2021 following Hart-Scott-Rodino clearance RICHMOND, VA (STL.News) Dominion Energy (NYSE: D) announced today that it has closed on the sale of the majority of its gas transmission and storage assets to Berkshire Hathaway Energy, an affiliate of Berkshire Hathaway Inc. (NYSE: BRK.A), for approximately $2.7 billion in cash and the transfer of approximately $5.3 billion of related indebtedness.  These operations include more than 5,500 miles of interstate gas transmission pipelines, about 775 billion cubic feet (Bcf) of gas storage tha...
Dominion Energy Schedules Third-Quarter Earnings Conference Call
Business

Dominion Energy Schedules Third-Quarter Earnings Conference Call

RICHMOND, VA (STL.News) Dominion Energy, Inc. (NYSE: D) will host its third-quarter earnings conference call at 11 a.m. ET on Thursday, Nov. 5, 2020.  Management will discuss third-quarter financial results and other matters of interest to the financial community. Domestic callers should dial (800) 341-6228.  International callers should dial 1-334-777-6993.  The passcode for the conference call is 63771662#.  Participants should dial in 10 to 15 minutes prior to the scheduled start time. A live webcast of the conference call, including accompanying slides and other financial information, will be available on the investor information pages at investors.dominionenergy.com. A replay of the conference call will be available beginning at about 3 p.m. ET Nov. 5 and lasting until 11 p.m. ET N...
Dominion Energy Announces Second-Quarter Earnings
Business

Dominion Energy Announces Second-Quarter Earnings

RICHMOND, VA (STL.News) Dominion Energy (NYSE: D) today announced an unaudited net loss determined in accordance with Generally Accepted Accounting Principles (reported earnings) for the three months ended June 30, 2020 of $1.2 billion ($1.41 per share) compared with a net gain of $54 million ($0.05 per share) for the same period in 2019. Operating earnings for the three months ended June 30, 2020, were $706 million ($0.82 per share), compared with operating earnings of $619 million ($0.77 per share) for the same period in 2019.  The company estimates that its second-quarter 2020 operating earnings were negatively impacted by $0.03 per share due to worse than normal weather in its utility service territories. The difference between GAAP and operating earnings for the three months ended J...
Dominion Energy Declares Quarterly Dividend of 94 Cents
Business

Dominion Energy Declares Quarterly Dividend of 94 Cents

RICHMOND, VA (STL.News) The board of directors of Dominion Energy (NYSE: D) has declared a quarterly dividend of 94 cents per share of common stock. Dividends are payable on June 20, 2020, to shareholders of record at the close of business June 5, 2020. This is the 369th consecutive dividend that Dominion Energy or its predecessor company has paid holders of common stock.  The company's last quarterly dividend was declared Jan. 24, 2020.
Dominion Energy (NYSE: D) Announces First-Quarter Earnings
Business

Dominion Energy (NYSE: D) Announces First-Quarter Earnings

- First-quarter 2020 GAAP net loss of $0.34 per share; operating earnings of $1.09 per share - Company initiates second-quarter 2020 operating earnings guidance of $0.75 to $0.85 per share - Company affirms full-year 2020 operating earnings guidance of $4.25 to $4.60 per share RICHMOND, VA (STL.News) Dominion Energy (NYSE: D) today announced an un-audited net loss determined in accordance with Generally Accepted Accounting Principles (reported earnings) for the three months ended March 31, 2020 of $270 million ($0.34 per share) compared with a net loss of $680 million ($0.86 per share) for the same period in 2019. Operating earnings for the three months ended March 31, 2020, were $931 million ($1.09 per share), compared with operating earnings of $873 million ($1.10 per share) for the sam...
Dominion Energy Remains on Schedule to Build Largest Offshore Wind Project in United States
Business

Dominion Energy Remains on Schedule to Build Largest Offshore Wind Project in United States

- Survey vessels in April started studies of the 112,800-acre Coastal Virginia Offshore Wind lease area - Virginia Beach fishermen will be employed to 'scout' operational areas during survey activities - Dominion Energy focused on working to develop a U.S.-based offshore wind supply chain anchored in Hampton Roads RICHMOND, VA (STL.News) Dominion Energy and its contractors remain on track to ensure the Coastal Virginia Offshore Wind (CVOW) project remains on schedule to become an economic driver in Hampton Roads.  The project team and vessel crews have implemented processes to navigate the impact of the worldwide coronavirus pandemic. Two vessels – the M/V Sarah Bordelon and M/V Marcelle Bordelon contracted through TerraSond – earlier this month started geophysical studies in the 112,800-...
Dominion Energy Nears Construction on First-Ever Offshore Wind Turbines in U.S. Federal Waters
Business

Dominion Energy Nears Construction on First-Ever Offshore Wind Turbines in U.S. Federal Waters

- Coastal Virginia Offshore Wind (CVOW) project remains on track for installation and operations - Monopiles and turbine loadout in Germany and Denmark completed and en route to project - Project will enter service later this year and produce enough power for 3,000 homes RICHMOND, VA (STL.News) Dominion Energy and Ørsted announced today the turbine components and monopiles for the Coastal Virginia Offshore Wind (CVOW) pilot project have started their journey to North America. The project team and vessel crews have been successful in navigating the impact of the worldwide coronavirus pandemic to keep the team safe and the project on schedule. The foundations, consisting of the turbines' monopiles, transition pieces and anode cages fabricated by EEW SPC, have been loaded onto the Bigroll Be...
Dominion Energy Selects Ramboll to Provide Support for United States’ Largest Offshore Wind Project
Business

Dominion Energy Selects Ramboll to Provide Support for United States’ Largest Offshore Wind Project

- Ramboll is a globally renowned consultant in the offshore wind industry - Ramboll will support development, engineering aspects of Dominion Energy’s Coastal Virginia Offshore Wind (CVOW) project - CVOW is expected to begin construction in 2024, with a total of 2,600 megawatts of renewable energy in service by end of 2026 RICHMOND, VA (STL.News) Dominion Energy continues to use the expertise of global leaders in the offshore wind industry for its proposed Coastal Virginia Offshore Wind (CVOW) project with the selection of Ramboll as Owner’s Engineer, to provide project development and engineering support on the project, which will produce enough zero-carbon electricity to power 650,000 Virginia homes. Denmark-based Ramboll, one of the world’s leading consultants in offshore wind, was sel...
Dominion Energy Completes Equity Recapitalization of Cove Point
Business

Dominion Energy Completes Equity Recapitalization of Cove Point

RICHMOND, VA (STL.News) Dominion Energy, Inc. (NYSE: D), today announced that it has completed the transfer of a 25 percent non-controlling equity interest in Cove Point to Brookfield Super-Core Infrastructure Partners, an infrastructure fund managed by Brookfield Asset Management Inc., in exchange for cash consideration of approximately $2.1 billion – as previously announced on Oct. 21, 2019. Dominion Energy Cove Point LNG, LP (Cove Point) owns a liquefied natural gas (LNG) import, export and storage facility located on the western shore of the Chesapeake Bay in Lusby, Md., including a 136-mile pipeline that interconnects the facility with the interstate pipeline system. Nearly 7.5 million customers in 18 states energize their homes and businesses with electricity or natural gas from Do...
Dominion Energy Ohio Issues Scammer Alert to Customers
Business

Dominion Energy Ohio Issues Scammer Alert to Customers

CLEVELAND, OH (STL.News) Dominion Energy Ohio warns customers not to provide banking or other personal information to scammers who claim such data is required to receive a new federal tax cut credit.  The company reminds customers they will begin receiving those credits automatically, beginning in April 2020, in their monthly bills. On December 4, the Public Utilities Commission of Ohio approved a settlement negotiated among Dominion Energy, the Commission and the Ohio Consumers' Counsel, which, among other elements, will pass through a $50.9 million credit to customers over a 12-month period. Dominion Energy has received reports this week of people purporting to work for the company telephoning customers and demanding they provide banking account and other personal information in order ...
Dominion Energy Christmas Parade Announces 2019 Grand Marshal
Business

Dominion Energy Christmas Parade Announces 2019 Grand Marshal

(STL.News) – Commander Paul Galanti, one of Richmond’s most notable living veterans, will serve as the 2019 Grand Marshal for the Dominion Energy Christmas Parade.  The parade celebrates its 36th anniversary on Saturday, Dec. 7, at 10 a.m. starting in front of the Science Museum of Virginia. Commander Galanti was held as a prisoner of war in North Vietnam from 1966 to 1973.  While serving his 97th combat mission, Galanti’s A-4 Skyhawk was shot down.  He was captured and resided at the Hanoi Hilton, enduring torture, deprivation, solitary confinement, and the threat of death.  And yet, Galanti’s faith and positive spirit saw him through such horrors. “We’re excited to announce that Commander Paul Galanti will serve as this year’s grand marshal at the Dominion Energy Christmas Parade.  Thi...
­­­­Dominion Energy Ohio Payment Plans, Energy Assistance Programs Can Help Customers Stay Warm This Winter
Business

­­­­Dominion Energy Ohio Payment Plans, Energy Assistance Programs Can Help Customers Stay Warm This Winter

(STL.News) – Dominion Energy Ohio reminds customers that various company payment plans and government energy assistance programs can help them stay warm this winter.  Customers who may not be able to afford their heating bills are urged to contact Dominion Energy Ohio immediately to inquire about payment plans and energy assistance programs.  For additional information, customers can call Dominion Energy Ohio at 1-800-362-7557.  Hearing-impaired customers with Telecommunications Devices for the Deaf can call 711. Natural gas is a clean, affordable and reliable home heating source.  For more information about Dominion Energy payment plans and government energy assistance programs, visit https://www.dominionenergy.com/community/energy-assistance and change the state to Ohio. Company Paymen...
Support for Veterans Makes Dominion Energy a Top Military-Friendly Employer
Business

Support for Veterans Makes Dominion Energy a Top Military-Friendly Employer

(STL.News) – Dominion Energy's commitment to veterans and their families was recognized once again by G.I. Jobs.  The company was named a "Top Military-Friendly Employer" for 2020 for the 11th consecutive year. "This recognition wouldn't be possible without the hard work of our colleagues who are military veterans and service members, as well as their families," said Thomas F.  Farrell II, chairman, president and chief executive officer of Dominion Energy.  "We are committed to giving back to those who have sacrificed so much to protect us." We take pride in our efforts to recruit, hire, train and support military service members, their spouses, and their families.  Those efforts include: Hiring troops for civilian jobs.  One in five new hires at Dominion Energy is a veteran.  The compa...
Dominion Energy Declares Quarterly Dividend of 91.75 Cents
Business

Dominion Energy Declares Quarterly Dividend of 91.75 Cents

(STL.News) – The board of directors of Dominion Energy (NYSE: D) has declared a quarterly dividend of 91.75 cents per share of common stock. Dividends are payable on Dec. 20, 2019, to shareholders of record at the close of business Dec. 6, 2019. This is the 367th consecutive dividend that Dominion Energy or its predecessor company has paid holders of common stock.  The company's last quarterly dividend was declared July 31, 2019. SOURCE Dominion Energy For further information: Media:Ryan Frazier, (804) 819-2521 or C.Ryan. Frazier@dominionenergy.com; Financial analysts: Steven Ridge, (804) 929-6865 or Steven.D.Ridge@dominionenergy.com. CLICK to VIEW SOURCE
Dominion Energy Acquires Solar Project That Will Provide Power to Dominion Energy South Carolina
Business

Dominion Energy Acquires Solar Project That Will Provide Power to Dominion Energy South Carolina

(STL.News) – Dominion EnergyDominion Energy, Inc. (NYSE: D), announced today that it has acquired a solar generating project from First Solar.  The facility, owned by the company's contracted generation arm, is expected to enter service later this year and provide power and renewable energy attributes under a Dominion Energy South Carolina contract that was previously filed and accepted in South Carolina. Construction on the 72-megawatt solar facility has already begun on about 630 acres of land in Beaufort County, S.C.  When it is completed, Seabrook Solar will be one of the largest solar arrays in the Palmetto State.  The company's contracted generation business also owns and operates two facilities powered by the sun in Jasper County, S.C. "South Carolina, through the General Assembly...
Dominion Energy Announces Equity Recapitalization of Cove Point
Business

Dominion Energy Announces Equity Recapitalization of Cove Point

(STL.News) – Dominion Energy, Inc. (NYSE: D), today announced that it has entered into an agreement with Brookfield Super-Core Infrastructure Partners, an infrastructure fund managed by Brookfield Asset Management Inc. (Brookfield), in which the company will transfer a 25 percent non-controlling equity interest in Cove Point to Brookfield in exchange for cash consideration of just over $2 billion, excluding working capital.  The announcement is part of Dominion Energy's previously communicated intention to establish a permanent capital structure for Cove Point. Thomas F. Farrell, II, chairman, president and chief executive officer, said: "The agreement highlights the compelling intrinsic value of Cove Point and allows us to efficiently redeploy capital toward our robust regulated growth ...
Commonwealth of Virginia, Dominion Energy Partner on Historic Renewable Energy Agreement
Business

Commonwealth of Virginia, Dominion Energy Partner on Historic Renewable Energy Agreement

(STL.News) – State-owned buildings and facilities in Virginia will soon be powered with solar and wind energy under a new agreement between the Commonwealth and Dominion Energy. The agreement represents the largest procurement of renewable energy by a state to meet its own renewable energy needs, a significant step in accepting Governor Ralph Northam's challenge to power state government with clean energy sources. Under the partnership, Dominion Energy will supply the Commonwealth with 420 megawatts of renewable energy.  When combined with previously announced solar projects, the power produced is enough to meet the equivalent of 45 percent of the state government's annual energy use. The clean energy package consists of a 75-megawatt wind project and four proposed solar projects totali...
Dominion Energy receives key approvals for Coastal Virginia Offshore Wind project
Business

Dominion Energy receives key approvals for Coastal Virginia Offshore Wind project

(STL.News) – Dominion Energy has received two key determinations from the Bureau of Ocean Energy Management (BOEM) regarding the design, fabrication and installation of the Coastal Virginia Offshore Wind (CVOW) project. “This is a significant milestone as we move forward on building the first-ever fully permitted offshore wind project in federal waters,” said Mark D. Mitchell, Dominion Energy’s vice president of generation construction.”  This process will provide key learnings we can apply to our commercial-scale offshore wind project.” Dominion submitted its Facility Design Report (FDR) and Fabrication and Installation Report (FIR) in partnership with Ørsted, a global leader in offshore wind development contracted for CVOW, and Siemens Gamesa Renewable Energy, the company manufacturing...