S&P 500 · Electric utility · Datacenter load (Northern Virginia)
Dominion Energy
Dominion Energy is a regulated utility serving about 2.8 million electricity customers across Virginia and South Carolina. It covers North Virginia (Loudoun County), the world's largest data-center hub, where data centers reached 28% of Virginia Power electricity sales in 2025 and contracted data-center connection capacity grew to roughly 48.5 GW by end-2025. A ~$65 billion 2026-2030 capital plan expands generation and delivery, and the company is building the 2.6 GW CVOW offshore wind project.
D Updated Jul 12, 2026 2 AI consumers· 1 recurring
Annual return · 2026-07-10'21+8.1%'22-19.1%'23-19.1%'24+20.4%'25+14%YTD+22.1%
Money in ▸Data centers (North Virginia / Loudoun County hyperscalers)●Regulated retail electricity customers (Virginia & South Carolina)●
Dominion Energy$16.5B
▸ Money outGeneration fuel & purchased power (natural gas, nuclear)●Capex & offshore-wind construction (CVOW 2.6 GW)●
Financials & Segments
- Total revenue · $16.5B (FY2025)
- Segments · Dominion Energy Virginia · Dominion Energy South Carolina · Contracted Energy
Revenue from
- Data centers (North Virginia / Loudoun County hyperscalers) High confidence
Dominion serves North Virginia, the world's largest data-center hub. Data centers made up 28% of Virginia Power electricity sales in 2025 (26% in 2024); contracted data-center connection capacity swelled to ~48.5 GW by end-2025, roughly 3x the ~16.5 GW of July 2023. Customers include Amazon, Microsoft, Alphabet and Meta.Confirms EN TIKR Published Feb 24, 2026: Dominion Energy in 2026: 48 GW Contracted, $65B Committed, CVOW 70% Done - Regulated retail electricity customers (Virginia & South Carolina) High confidence
Supplies regulated electricity to ~2.8 million customers across Virginia and North Carolina. Dominion Energy Virginia segment external revenue was $11,843M and South Carolina $3,568M in FY2025, of $16,506M consolidated revenue.
Pays to
- Generation fuel & purchased power (natural gas, nuclear) High confidence
Electric fuel and other energy-related purchases were $4,489M in 2025 (Virginia $3,591M, South Carolina $795M). By fuel cost, Virginia Power generation was 39% natural gas, 25% nuclear, 24% net purchased power, 7% coal, 5% renewable/hydro. - Capex & offshore-wind construction (CVOW 2.6 GW) High confidence
Roughly $65 billion 2026-2030 capital plan (raised ~30% in February), of which Dominion Energy Virginia is ~$55 billion net of Stonepeak reimbursements. The CVOW Commercial Project under construction is 2.6 GW of offshore wind 27 miles off Virginia Beach, with an estimated total project cost of ~$11.5 billion excluding financing, targeted for completion by end-2026 to early 2027.Confirms KO Investing.com (KR) Published Feb 23, 2026: Dominion Energy plans KRW 71tn investment targeting data-center boom
Investors
- Stonepeak (50% stake in CVOW) High confidence
Infrastructure investor Stonepeak acquired a 50% noncontrolling interest in the CVOW Commercial Project via the OSWP joint venture in October 2024. Virginia Power received $2.6 billion at closing (50% of construction costs incurred to date), with the two parties funding remaining construction 50/50.Confirms EN TS2 Space Published Mar 1, 2026: Dominion Energy Stock Forecast 2025-2026: AI Data Centers, Offshore Wind and Rate Hikes