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Dominion Energy to buy N.C. offshore wind lease for $160M
A Dominion Energy subsidiary has agreed to acquire a 40,000-acre offshore wind lease off North Carolina’s Outer Banks for $160 million, the Fortune 500 utility announced Monday. Virginia Electric and Power Company, which does business as Dominion Energy Virginia, will purchase the Kitty Hawk North Wind lease from Avangrid, a Connecticut-based sustainable energy company, and […]
Dominion closes sale of Utah gas utility for $4.3B
Richmond-based Fortune 500 utility Dominion Energy has closed on its $4.3 billion sale of subsidiaries Questar Gas and Wexpro to Canadian pipeline and energy company Enbridge, Dominion announced Monday. Salt Lake City, Utah-based natural gas utility Questar serves more than 1.2 million customers in Utah, Wyoming and Idaho. Wexpro supplies natural gas under a cost-of-service […]
Which way the Venn blows
It feels like one of those logic puzzles high school students grapple with on the SAT: If Delegate Sally passes a law to require utilities in her state to generate all their electricity from renewable, carbon-free energy sources like wind and solar by 2045, what is the latest year CEO Tom’s power plant can stop […]
Natural selection
Natural gas as a source of energy for Virginia power plants is set to reach its final days by the middle of the century — or is it? The Virginia General Assembly set that deadline in 2020 when it passed the Virginia Clean Economy Act, which requires the state’s two major electric utilities to shift […]
Dominion to sell 50% interest in offshore wind farm
Dominion Energy announced Feb. 22 it had reached an agreement with investment firm Stonepeak to sell a 50% noncontrolling stake in the utility‘s Coastal Virginia Offshore Wind project for nearly $3 billion. The deal is expected to close by the end of 2024, if approved by the Virginia State Corporation Commission and the North Carolina […]
Dominion closes sale of East Ohio Gas for $6.6B
Richmond-based Fortune 500 utility Dominion Energy closed on its sale of East Ohio Gas to Canadian pipeline and energy company Enbridge in a $6.6 billion deal, the utility announced Thursday. The sale was first announced in September 2023 as part of a deal for Dominion to sell its three natural gas distribution companies. The Public […]
ODEC keeps interim president and CEO permanently
John C. Lee Jr. will stay on as Old Dominion Electric Cooperative’s permanent president and CEO after serving in an interim capacity since Sept. 8, 2023, the Glen Allen-based not-for-profit power cooperative announced Monday. In October 2023, ODEC began its search for a new president and CEO after Marcus Harris resigned in September. He’s now […]
Dominion offshore wind farm moves closer to final approval
Dominion Energy has passed another critical federal hurdle on its way to gaining approval to begin construction on its $9.8 billion, 176-turbine offshore wind farm 27 miles off the coast of Virginia Beach. The Bureau of Ocean Energy Management granted a favorable record of decision for the Richmond-based Fortune 500 electric utility‘s 2.6-gigawatt Coastal Virginia […]
Massive foundation posts arrive for Dominion’s offshore wind farm
The first eight monopiles, the wind-turbine foundation posts for Dominion Energy‘s $9.8 billion offshore wind farm, arrived at Portsmouth Marine Terminal on Oct. 19, and state officials and Dominion executives celebrated their arrival from Germany Friday. In a ceremony Friday, Gov. Glenn Youngkin, Dominion Chair, President and CEO Bob Blue and state and local dignitaries […]
Dominion pitches new solar projects to SCC
Dominion Energy is pitching the State Corporation Commission on several solar projects that could generate enough carbon-free electricity to power nearly 200,000 homes. The projects, presented in the Fortune 500 utility‘s fourth annual clean energy filing with the state, include six solar projects totaling 337 megawatts and 13 power purchase agreements totaling 435 megawatts with […]
Reid retiring as Dominion Energy Services president
Carter Reid, executive vice president, chief of staff and corporate secretary of Dominion Energy, as well as president of Dominion Energy Services, will retire Jan. 1, 2024, the Richmond-based utility announced Monday. Carlos Brown, Dominion’s senior vice president, chief legal officer and general counsel, will be promoted to president of Dominion Energy Services and Dominion […]
Dominion Energy shareholders receive mini-tender offer
Dominion Energy is urging its shareholders to reject a “mini-tender” offer from TRC Capital Investment, the Richmond-based Fortune 500 utility announced Monday. Toronto-based investment firm TRC Capital offered to purchase up to 2 million shares of Dominion Energy’s common stock for $44 per share in cash, approximately 4.47% below the closing price of Dominion common […]
