Full-Year 2025 Earnings Above Guidance
Delivered full-year 2025 operating earnings of $3.42 per share and operating EPS excluding RNG 45Z credits of $3.33, both above the midpoint of guidance; GAAP EPS was $3.45.
2026 EPS Guidance and Growth
Issued 2026 operating EPS guidance (excluding RNG 45Z) of $3.40–$3.60 with a midpoint of $3.50, representing a 6.1% increase versus the comparable 2025 guidance midpoint of $3.30; total operating earnings midpoint (including 45Z) is $3.57.
Strong Credit Metrics
Estimated Moody's full-year CFO pre-working-capital to debt is nearly 100 basis points above downgrade threshold and the highest reported for this metric since 2012, reflecting robust balance sheet strength.
Major Capital Program and Growth Outlook
Updated five-year capital estimate raised from $50 billion to approximately $65 billion, a 30% increase; projected compounded annual growth rate of the investment base ~10%; nearly two-thirds of the updated spend eligible for recovery subject to rider mechanisms.
Coastal Virginia Offshore Wind (CVOW) Progress
CVOW is >70% complete, on track for first power delivery by March, project budget stated at $11.5 billion (including $155 million unused contingency); turbine fabrication ~70% towers & nacelles and ~30% blades fabricated.
Data Center Pipeline Growth
Data center pipeline increased to over 48 GW as of Dec 2025 from ~47 GW in Sept 2025, a ~3% (1.4 GW) increase; majority of forecasted demand through 2045 covered by existing signed ESAs and CLOAs.
Sales and Peak Demand Strength
Weather-normalized sales in Dominion Energy Virginia LSE increased 5.4% in 2025; all top-20 peak demand days in the Dominion Zone occurred in the last 14 months, signaling strong load growth.
Record Safety Performance
Achieved record OSHA recordable rate of 0.26 in 2025 and the company's lowest lost day restricted duty rate, reflecting improved safety outcomes.
Operational Performance at Millstone
Millstone nuclear achieved a 2025 capacity factor of over 91%, provided >90% of Connecticut's carbon-free electricity, with 55% of output under fixed-price contract through late 2029.
Competitive Customer Rates and Economic Development
DEV and DESC residential rates remain below national average by 4% and 12% respectively; residential rate CAGR projected ~2.6%–2.8%; supported projects creating >3,600 jobs and attracting $7.4 billion in new capital investment.