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Dominion Energy ( (D) ) has provided an announcement.
On February 3, 2025, Dominion Energy announced updates to its Coastal Virginia Offshore Wind (CVOW) project, including a cost increase from $9.8 billion to $10.7 billion due to revised network upgrade costs by PJM. Despite the increase, the project remains on schedule for completion by the end of 2026, with significant construction milestones achieved and robust cost-sharing mechanisms in place to mitigate customer impact. The updated project cost is expected to slightly impact residential customer bills by 43 cents per month. Dominion Energy completed a non-controlling equity financing with Stonepeak Partners, which will fund 50% of project costs up to $11.3 billion, reducing financial risk for shareholders.
More about Dominion Energy
Dominion Energy, headquartered in Richmond, Virginia, is a leading provider of regulated electricity and natural gas services in the southeastern United States. The company is a prominent developer and operator of offshore wind and solar power projects, and it is the largest producer of carbon-free electricity in New England.
YTD Price Performance: 2.19%
Average Trading Volume: 4,572,839
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $46.7B
For a thorough assessment of D stock, go to TipRanks’ Stock Analysis page.
