Dominion Energy, Inc. (D): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how Dominion Energy Inc. (D), a major player in the energy sector, operates and generates revenue? Supplying electricity and natural gas to millions across the US, with a strong presence in Virginia, North Carolina, and South Carolina, the company reported a $2.44 per share net income in 2024. But how did this Richmond, Virginia-based giant, with a $46.9 billion market cap as of 2023, evolve into what it is today, and what's the secret behind its mission to deliver reliable, affordable, and increasingly clean energy?

With a history dating back to 1909 as Virginia Railway & Power Company, Dominion Energy has transformed through strategic mergers and a focus on regulated assets, now holding approximately 76.39% institutional ownership. Interested in learning more about the key figures steering this energy provider, its commitment to sustainability, and its plans for a clean energy future with a $43 billion capital investment plan focused on clean energy and service reliability beginning in 2025?

Continue reading to uncover the details of Dominion Energy's journey, its operational structure, and how it continues to power homes and businesses while striving for net-zero emissions by 2050, including the reduction of methane emissions by 65% by 2030 and 80% by 2040.

Dominion Energy, Inc. (D) History

Founding Timeline

Year established

The company was originally established in 1909.

Original location

The company was founded in Richmond, Virginia.

Founding team members

It was initially known as the Virginia Railway & Power Company.

Initial capital/funding

Details regarding the initial capital and funding during the company's founding are not readily available in the provided search results.

Evolution Milestones

Transformative Moments

• Shift to Nuclear Energy: A major transformative decision involved embracing nuclear energy. This move aimed to provide a stable and carbon-free energy source, aligning with growing environmental concerns and energy diversification goals.
• Acquisition of SCANA Corporation: In 2017, the acquisition of SCANA significantly expanded the company's operations in the Southeast, incorporating additional natural gas and nuclear assets. However, this acquisition also brought financial and regulatory challenges, particularly with the failed V.C. Summer nuclear project.
• Divestiture of Gas Transmission & Storage: In 2020, the sale of its Gas Transmission & Storage segment to Berkshire Hathaway marked a strategic pivot. This decision allowed the company to concentrate on its state-regulated utility operations and invest more heavily in clean energy initiatives, streamlining its business model. The deal was valued at approximately $9.7 billion, including the assumption of $5.7 billion in debt.
• Focus on Renewable Energy: The company has been increasingly focusing on renewable energy projects, including solar and wind power. This shift is driven by both environmental concerns and economic opportunities, as renewable energy sources become more cost-competitive. The development of offshore wind projects, such as the Coastal Virginia Offshore Wind (CVOW) project, represents a significant investment in sustainable energy infrastructure.

To gain more insights into the company's financial stability, consider reading: Breaking Down Dominion Energy, Inc. (D) Financial Health: Key Insights for Investors

Dominion Energy, Inc. (D) Ownership Structure

Dominion Energy is a publicly traded company, meaning its ownership is distributed among shareholders who buy and sell shares on the open market. This structure allows a wide range of investors, from individuals to institutions, to own a stake in the company.

Dominion Energy's Current Status

Dominion Energy is a public company. Its shares are traded on the New York Stock Exchange (NYSE) under the ticker symbol D. As a public entity, it is subject to regulatory oversight and reporting requirements, providing transparency to investors and the public.

Dominion Energy's Ownership Breakdown

Dominion Energy's ownership is distributed among various shareholders, including institutional investors, retail investors, and company insiders. The following table provides an overview of the company's ownership structure:

Dominion Energy's Leadership

Dominion Energy is led by a team of experienced executives and a board of directors who are responsible for setting the company's strategic direction and overseeing its operations. As of April 2025, key members of the leadership team include:

• Robert M. Blue: Chair, President and Chief Executive Officer
• Steven E. Ridge: Executive Vice President and Chief Financial Officer
• Carlos M. Brown: Senior Vice President and Chief Legal Officer

These individuals, along with other members of the leadership team, bring a wealth of experience and expertise to Dominion Energy, guiding the company in its mission to provide reliable and affordable energy to its customers. You might be also interested in this link: Exploring Dominion Energy, Inc. (D) Investor Profile: Who’s Buying and Why?

Dominion Energy, Inc. (D) Mission and Values

Dominion Energy aims to provide reliable, affordable, and sustainable energy while committed to safety, environmental stewardship, and community engagement, reflecting its dedication to integrity and service.

Dominion Energy's Core Purpose

Official mission statement

Dominion Energy's mission statement is: 'To provide essential energy safely, reliably, affordably and sustainably.' Mission Statement, Vision, & Core Values of Dominion Energy, Inc. (D).

• Focuses on delivering essential energy services.
• Prioritizes safety in all operations.
• Ensures reliable energy supply for customers.
• Maintains affordability for energy consumers.
• Promotes sustainable energy practices.

Vision statement

Dominion Energy's vision is to be a leader in the energy industry, committed to innovation, customer satisfaction, and environmental responsibility.

• Aims to lead the energy sector through forward-thinking strategies.
• Stresses the importance of innovation in energy solutions.
• Highlights customer satisfaction as a key objective.
• Demonstrates a commitment to environmental stewardship.

Company slogan/tagline

Dominion Energy does not have a widely publicized official slogan or tagline. However, they emphasize key themes in their communications:

• Focus on reliable energy: Highlighting their commitment to providing dependable service to customers.
• Commitment to safety: Reinforcing their priority of safe operations for employees and the public.
• Environmental stewardship: Showcasing efforts to promote sustainability and reduce environmental impact.

Dominion Energy, Inc. (D) How It Works

Dominion Energy operates as an energy company, providing electricity and natural gas to millions of customers. The company generates, transmits, and distributes electricity, and also stores and transports natural gas.

Dominion Energy's Product/Service Portfolio

Dominion Energy's Operational Framework

Dominion Energy manages its operations through several key segments:

• Power Generation: Operates a diverse portfolio of power plants, including nuclear, coal, natural gas, and renewables. Focuses on maintaining reliable and efficient electricity generation.
• Energy Transmission: Transports electricity and natural gas through an extensive network of transmission lines and pipelines. Invests in infrastructure upgrades to enhance reliability and capacity.
• Energy Distribution: Delivers electricity and natural gas to residential, commercial, and industrial customers. Focuses on providing safe and reliable service.
• Gas Storage: Operates natural gas storage facilities that are critical to providing reliable service during peak demand periods.

Dominion Energy's Strategic Advantages

Dominion Energy possesses several strategic advantages that contribute to its market success:

• Diversified Asset Portfolio: Operates a diverse mix of regulated and non-regulated businesses, providing a stable revenue stream and growth opportunities.
• Geographic Footprint: Has a significant presence in attractive energy markets, particularly in the Mid-Atlantic and Southeast regions of the United States.
• Commitment to Sustainability: Is investing heavily in renewable energy projects and reducing its carbon footprint, positioning itself for long-term growth in a clean energy economy.
• Regulatory Relationships: Maintains constructive relationships with regulators, which is essential for obtaining approvals for infrastructure projects and rate adjustments.

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Dominion Energy, Inc. (D) How It Makes Money

Dominion Energy primarily generates revenue through the production, transmission, and distribution of energy. This includes electricity and natural gas to residential, commercial, industrial, and governmental customers.

Dominion Energy's Revenue Breakdown

Dominion Energy's revenue is derived from several key business segments. These include:

Dominion Energy's Business Economics

Dominion Energy operates within a regulated utility framework, meaning its prices and operations are subject to government oversight. This provides a degree of stability but also limits potential profit margins. Key aspects of its business economics include:

• Regulated Rates: A significant portion of Dominion Energy’s revenue comes from regulated rates, which are designed to allow the company to recover its costs and earn a reasonable return on investment.
• Infrastructure Investments: Dominion Energy makes substantial investments in infrastructure, such as power plants, transmission lines, and pipelines, to ensure reliable service and meet growing demand. These investments are often factored into rate adjustments.
• Fuel Costs: The cost of fuel, such as natural gas and coal, is a major expense for Dominion Energy. Fluctuations in fuel prices can impact profitability, although these costs are often passed on to customers through fuel adjustment clauses.
• Economic Conditions: Economic conditions in Dominion Energy’s service territories influence energy demand. Strong economic growth typically leads to higher demand, while economic downturns can reduce demand.

Dominion Energy's Financial Performance

Dominion Energy’s financial performance can be assessed through various metrics that reflect its operational efficiency, profitability, and financial health. Here are some key indicators:

• Revenue Stability: As a regulated utility, Dominion Energy typically experiences relatively stable revenue streams.
• Profit Margins: Profit margins can vary depending on regulatory decisions, fuel costs, and operational efficiency.
• Earnings Per Share (EPS): EPS is a key metric for assessing profitability on a per-share basis. Investors monitor EPS to gauge Dominion Energy’s ability to generate profits for shareholders.
• Dividend Yield: Dominion Energy is known for its dividend payouts, making dividend yield an important consideration for investors. The company's ability to sustain and grow its dividend is closely watched.
• Debt Levels: Utilities often carry significant debt due to their capital-intensive nature. Monitoring debt levels and credit ratings is crucial for assessing Dominion Energy’s financial risk.

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Dominion Energy, Inc. (D) Market Position & Future Outlook

Dominion Energy is navigating a shifting energy landscape with a focus on expanding its renewable energy portfolio while maintaining reliable service for its customers. The company's future hinges on successfully executing its clean energy transition and managing regulatory and economic pressures.

Competitive Landscape

Opportunities & Challenges

Industry Position

Dominion Energy holds a significant position in the U.S. energy market, particularly in the Southeast and Mid-Atlantic regions. The company is a major player in:

• Regulated electricity and natural gas distribution.
• Power generation, with a growing emphasis on renewable sources.
• Energy infrastructure development, including pipelines and LNG facilities.

Dominion Energy's strategy focuses on transitioning to cleaner energy sources while ensuring grid reliability and affordability for its customers. This involves:

• Investing heavily in solar, wind, and energy storage projects.
• Retiring coal-fired power plants and reducing carbon emissions.
• Modernizing the electric grid to support the integration of renewable energy.

For more in-depth insights into Dominion Energy's investor profile, explore Exploring Dominion Energy, Inc. (D) Investor Profile: Who’s Buying and Why?.