Dominion Energy Inc Stock Price, News & Analysis

Dominion Energy Virginia has launched a rebate program aimed at accelerating electric vehicle adoption in Virginia, offering rebates from $2,000 to over $50,000 for charging infrastructure. An upcoming residential rebate program will start in early 2021. This initiative is part of Dominion's Grid Transformation Plan, which focuses on reducing carbon emissions and enhancing renewable energy access. Additional efforts include deploying electric school buses and installing fast-charging stations, contributing to environmental sustainability and customer savings.

The Dominion Energy Christmas Parade will be a televised-only event on December 5, 2020, from 10 a.m. to noon, due to COVID-19 concerns. Viewers can watch on WTVR CBS6 or via a Christmas Day rebroadcast. Parade Director Beth Karrer emphasized the importance of safety, stating this format allows families to celebrate at home. The broadcast will feature new performances, community stories, and a competition for homemade floats, alongside highlights from past parades. The Dominion Energy Charitable Foundation has sponsored this parade for 11 years, contributing over $48 million to community causes in 2019.

Dominion Energy (NYSE: D) has submitted a license renewal application to the Nuclear Regulatory Commission for the North Anna Power Station, extending operations by 20 years. This makes North Anna the second nuclear facility in Virginia to pursue a second renewal. The two nuclear units provide enough clean electricity for 473,000 homes and account for 31% of the company's electricity supply. The renewal supports Dominion's goal of zero-carbon electricity by 2045 and net-zero emissions by 2050, enhancing local economic growth and sustaining over 900 jobs.

Dominion Energy (NYSE: D) has acquired the 62.5-megawatt Madison Solar generating facility in Orange County, Virginia, from Cypress Creek Renewables. The facility is set to become operational in Q2 2022 and will provide renewable energy to Northrop Grumman under long-term agreements, covering 100% of its Virginia operations' electricity needs. This acquisition is part of Dominion's strategy to add 16,000 megawatts of solar capacity in Virginia by 2045, aligning with the Virginia Clean Economy Act. The company aims for net-zero carbon emissions by 2050.

Dominion Energy is enhancing its EnergyShare program with an additional $1 million in funding to support small business and residential customers affected by financial hardship due to the coronavirus pandemic. This includes $500,000 for small businesses and $500,000 for residential customers. A new Small Business Relief Program will provide one-time assistance of up to $1,000 for unpaid electric bills. The program will be administered in partnership with the Virginia Chamber of Commerce Foundation, with applications available starting Sept. 1.

Dominion Energy has made significant progress in restoring power to customers affected by Tropical Storm Isaias, with over 97% of the 508,000 customers in Virginia and North Carolina regaining service as of Thursday morning. The company deployed more than 7,000 workers for restoration efforts, including crews from across the nation. Most service is expected to be restored by the end of the day, although some hardest-hit areas may take longer. Dominion Energy emphasizes safety around downed power lines and encourages customers to report outages through its mobile app or contact number.

Dominion Energy has made significant strides in restoring power to over 80% of the 508,000 customers affected by Tropical Storm Isaias in Virginia and North Carolina. With more than 7,000 workers on the ground, the company aims to restore power to the majority of impacted customers by Thursday and resolve severe outages by Friday. Eastern North Carolina and Hampton Roads, Virginia, were the hardest-hit areas, facing downed lines and significant damage. The company emphasizes safety and encourages customers to report outages via their app or hotline.

Dominion Energy has initiated restoration efforts after Tropical Storm Isaias caused outages for over 500,000 customers in Virginia and North Carolina. This storm is ranked as the 10th largest in terms of customer impact. Restoration crews are working continuously, with power restored to more than 40% of affected customers as of midday Tuesday. However, significant delays are expected, especially in North Carolina, with the restoration process anticipated to last several days. Dominion is dedicated to prioritizing essential services during this recovery period.

Dominion Energy (NYSE: D) reported a net loss of $1.2 billion ($1.41 per share) for Q2 2020, a significant decline from a net gain of $54 million ($0.05 per share) in Q2 2019. However, operating earnings rose to $706 million ($0.82 per share), up from $619 million ($0.77 per share) in the previous year. The company's results were negatively affected by weather conditions, impacting earnings by $0.03 per share. Dominion maintains its 2020 full-year operating earnings guidance of $3.37 to $3.63 per share and anticipates Q3 earnings between $0.85 and $1.05 per share.