Dominion Energy Inc Stock Price, News & Analysis

Dominion Energy is investing in hydrogen as part of its clean energy transformation, aiming for net zero greenhouse gas emissions. Hydrogen, produced with renewable sources, can replace natural gas while emitting fewer to zero emissions. The company is conducting pilot projects in Utah to blend hydrogen into its gas distribution systems. It is also a lead sponsor of the Low Carbon Resources Initiative, committing $100 million over five years to R&D in clean energy technologies. This innovation is expected to reshape the energy landscape over the next 5 to 10 years.

On April 8, 2021, Dominion Energy announced a significant 22-year, $47.9 million Utility Energy Service Contract (UESC) for Marine Corps Base Quantico. The project aims to enhance energy resiliency by installing new generators and refurbishing existing microturbines, which is expected to yield $1.6 million in annual energy savings through upgrades and improvements. The contract, awarded by NAVFAC Washington, is part of a broader initiative to improve energy infrastructure, with completion slated for February 28, 2023.

Dominion Energy (NYSE: D) will hold its first-quarter earnings call on May 4, 2021, at 10 a.m. ET. Management will present recent financial results and other significant topics for stakeholders. A live webcast will be accessible on the company's investor information pages. Domestic callers can join at 1-800-341-6228, while international participants should dial 1-334-777-6993 with a passcode of 46791738#. A recording of the call will also be available after the event.

Dominion Energy mourns the loss of former Chairman and CEO Thomas F. Farrell, II, who passed away at 66 after battling cancer. He led the company from 2007 to 2020, overseeing substantial growth, including a rise in operating earnings from $1.8 billion to $3 billion and a 175% increase in market capitalization. Under his leadership, Dominion became a leader in clean energy with the third-largest solar portfolio among U.S. utilities and achieved significant emission reductions. Farrell was also dedicated to community service, with Dominion employees contributing over 1.5 million volunteer hours.

Dominion Energy announced it is offering $1 million in grants of up to $25,000 each to nonprofit organizations across its service area to address critical community needs. This initiative, now in its sixth year, aims to assist with urgent needs such as housing, medical services, and food security. Eligible organizations in states including Virginia and North Carolina can apply until May 31, 2021. This program has previously supported over 200 nonprofits and highlights Dominion's ongoing commitment to community support amidst the pandemic.

Dominion Energy Virginia's recent filing with the Virginia State Corporation Commission outlines its performance from 2017 to 2020, emphasizing reliability and customer value amid a challenging environment, including the COVID-19 pandemic. Key points include a proposed reinvestment of $26 million in renewable generation, competitive customer rates remaining stable, and a significant forecast of $28 billion in investments over five years for clean energy initiatives. The company is seeking to increase its return on equity from 9.2% to 10.8% to support these investments.

On March 2, 2021, six major utilities, including Dominion Energy, announced the formation of the Electric Highway Coalition. This initiative aims to create a seamless network of DC fast chargers for electric vehicles (EVs) across significant U.S. regions. The coalition plans charging station installations to facilitate long-distance EV travel, addressing common concerns about charging access. The Edison Electric Institute forecasts 18 million EVs on U.S. roads by 2030, highlighting the growing demand for convenient charging solutions.

Dominion Energy and the Library of Virginia recently honored five African-American leaders at the ninth annual "Strong Men & Women in Virginia History" awards ceremony. The event celebrated individuals who have made significant contributions to society, highlighting their roles as community leaders. Awardees included political activists, educators, and a state senator, with one individual honored posthumously. The ceremony also recognized four high school students for their essays on social justice, each receiving a MacBook Air and $1,000 for their schools. Dominion Energy continues to support community initiatives.