Dominion Energy Inc (NYSE: D) is a regulated electric and natural gas utility company that generates, transmits, and distributes electricity and natural gas to residential, commercial, and industrial customers. It makes money primarily through regulated rate structures approved by state utility commissions, collecting tariff-based revenues tied to its rate base of generation, transmission, and distribution assets. Virginia Electric and Power Company, a wholly owned subsidiary also known as Virginia Power, is a core operating entity filing alongside the parent under the same 10-K (filed 2026-02-23, accession 000119312526063120). Virginia Power's earned returns on base rate generation and distribution services are subject to review by the Virginia State Corporation Commission on a biennial cycle, with the next review covering the two 12-month test periods beginning January 1, 2025 and ending December 31, 2026. The company is headquartered in Virginia and lists its common stock on the New York Stock Exchange. Dominion Energy also holds interests in renewable natural gas through Align RNG, LLC, a joint venture with Smithfield Foods Inc.

Revenue model

Regulated utility tariff revenues collected from electricity and natural gas customers under rate structures approved by state commissions, with returns on rate base set through periodic regulatory proceedings.

Products and services

Regulated electricity generation, transmission, and distribution; regulated natural gas distribution; renewable natural gas through the Align RNG joint venture with Smithfield Foods.

Customers and end markets

Residential, commercial, and industrial electricity and natural gas customers in Virginia and other service territories; rate base returns regulated by the Virginia State Corporation Commission.

Value-chain role

Vertically integrated regulated utility: electricity generation, high-voltage transmission, and last-mile distribution to end customers; also natural gas distribution.

Geographic exposure

Primary operations in Virginia through Virginia Electric and Power Company; broader multi-state utility footprint per parent company structure.

Competitors

American Electric Power Company Inc, The AES Corporation, Duke Energy

Source: SEC 10-K, filed 2026-02-23

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