Dominion Energy, Inc. · NYSE:D
Dominion Energy — Q2 2025 Earnings Presentation
25 slides from Dominion Energy's earnings presentation, Aug 1, 2025
Slide 1: Q2 2025 earnings call
Q2 2025 earnings call August 1, 2025
Slide 2: Important note for investors
Important note for investors This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Dominion Energy. The statements relate to, among other things, expectations, estimates and projections concerning the busine
Slide 3: Financial results and guidance
Dominion Energy Financial results and guidance Operating earnings per share (non-GAAP) and long-term financial guidance Metric Amount Commentary Reflects $0.02 of RNG 45Z income and $0.01 Q2 2025: Actual ($ per share)¹ $0.75 of favorable weather impact $3.40 2025 guidance midpoint ($ per share) No c
Slide 4: Capital raising activities (updated)
Dominion Energy Capital raising activities (updated) 2025 expected fixed income activities ($B)¹ Guidance (no change) Issued YTD (updated) Remaining Dominion Energy Virginia $2.0—$2.5 $1.3 $0.7—$1.2 Dominion Energy South Carolina 0.5 0.5 — Contracted Energy — — — DEI hybrid 1.0—2.0 — 1.0—2.0 DEI oth
Slide 5: Employee safety
Dominion Energy Employee safety OSHA recordable incident rate¹ 84% 1.70 below average 0.96 0.52 0.45 0.42 0.28 2006-2021 average 2022 2023 2024 2025 YTD² Industry average³ ¹ Number of recordables per 100 employees each work year; data is pro forma for SCANA ² 2025 YTD through June ³ Average per Bure
Slide 6: Coastal Virginia Offshore Wind (CVOW)
Coastal Virginia Offshore Wind (CVOW) CVOW well-aligned with focus on American energy dominance ▪ The Coastal Virginia Offshore Wind project: ✓ Is now ~60% complete, months away from first delivery of electricity to customers (early 2026) and remains on schedule for full completion at the end of 202
Slide 7: Project remains on schedule, end of 2026 completion
Coastal Virginia Offshore Wind (CVOW) Project remains on schedule, end of 2026 completion Significant progress reduces project risk: ~60% complete % installed Project scope: % installed % installed or 176 WTG awaiting installation % fabricated Towers: 58 fabricated, 12 received at PMT 100% % complet
Slide 8: Achieving major construction milestones
Coastal Virginia Offshore Wind (CVOW) Achieving major construction milestones Component staging at Portsmouth Marine Terminal (July 2025) 8
Slide 9: Charybdis (Jones Act compliant installation vessel)
Charybdis (Jones Act compliant installation vessel) Final commissioning underway, on schedule for turbine installation Charybdis with completed sea fasteners for transporting turbines (July 2025) 9
Slide 10: Charybdis status and next steps detail (updated)
Charybdis (Jones Act compliant installation vessel) Status and next steps detail (updated) Testing completed: ✓ Leg jack-up testing: Complete ✓ Crane load testing: Complete ✓ Thrusters at 100% testing: Complete Commissioning ✓ All engines and generators including emergency generators testing: Comple
Slide 11: Tariff impacts (updated)
Coastal Virginia Offshore Wind (CVOW) Tariff impacts (updated) Overview ▪ Current tariff rates (as of July 31, 2025) = Updated project cost ― Mexico and Canada: 25% (no stacking of tariff if already subject to steel or aluminum tariff) included in SCC filing ― Steel: 50% (material value only) = Illu
Slide 12: Project cost (updated)
Coastal Virginia Offshore Wind (CVOW) Project cost (updated) ▪ Current capital budget: $10.9B (includes $193M of est. tariffs) including contingency (updated) ▪ Project-to-date investment (as of 6/30/2025): ~$7.5B ▪ Remaining project costs: ~$3.4B ▪ % to be funded by Stonepeak via non-controlling eq
Slide 13: Selected business updates
Dominion Energy Selected business updates ✓ CPCN for LNG production/storage at Brunswick + Greensville power stations approved in February ✓ RPS development plan and CE-5 rider approved in April ✓ Rider SNA (nuclear subsequent license renewal) phase II approved on July 1st ✓ 2024 VA integrated resou
Slide 14: Summary
Dominion Energy Summary ✓ Ongoing emphasis on key priorities ✓ Consistently achieving our financial commitments; strong first half of 2025 ✓ Continued on-time achievement of major construction milestones for the Coastal Virginia Offshore Wind project ✓ Achieving constructive regulatory outcomes that
Slide 15: Appendix
Appendix 15
Slide 16: Consolidated guidance
Consolidated guidance 2025 operating earnings per share (excluding RNG 45Z) Q3 drivers (YoY) Q4 drivers (YoY) ▲ Regulated investment¹ ▲ Regulated investment¹ ▲ Contracted Energy margins ▲ Millstone absence of planned outage³ ▲ Electric rate cases² ▲ Contracted Energy margins ▲ Sales ▲ Sales ▼ DD&A ▼
Slide 17: Project remains on schedule, end of 2026 completion
Coastal Virginia Offshore Wind (CVOW) Project remains on schedule, end of 2026 completion Last turbine First delivery installed / 100% ~60% of electricity project COD (early 2026) complete Last transition 75% piece installed Last monopile First installed 50% turbine installed 25% 0% Dec-22 Dec-23 De
Slide 18: Regulated electric sales growth
Regulated electric sales growth DEV and DESC combined LTM¹ Q2 ’25 YoY weather normal sales growth² Regulated electric sales trends Residential Commercial Industrial Govt/Other Total ✓ Robust commercial load growth driven by Data Centers 5.6% ✓ Attractive customer growth across our Virginia and 2.5%
Slide 19: Customers
Customers State-regulated utilities Segment summary Q2 2025 State summary Three months ended Average customers June 30 Q2 2025 (M) DE ‘23-’25 CAGR South Carolina 1.3M DE Virginia 1.1% 2.8 32% DE South Carolina 2.4% 1.3 Electric 1.9% 0.8 4.1M State utility Gas 3.3% 0.5 customers Total utility custome
Slide 20: Weather
Weather Degree days Quarter ended 6/30 Six months ended 6/30 2025 2024 2025 2024 Actual 176 179 2,118 1,838 Heating Normal 248 260 2,143 2,200 Dominion Energy Virginia Actual 612 648 632 652 Cooling Electric Normal 570 546 575 550 Actual 10 20 853 640 Heating Dominion Energy South Normal 24 25 767 7
Slide 21: Weather after-tax impacts
Weather After-tax impacts ($M) Q1 Q2 Q3 Q4 2025 YTD Dominion Energy Virginia2 $13 $4 — — $17 Versus normal¹ Dominion Energy South 15 6 — — 21 Carolina3 Total $28 $10 — — $38 Q1 Q2 Q3 Q4 2025 YTD $54 ($12) — — $42 Versus prior year¹ Dominion Energy Virginia2 Dominion Energy South 20 (3) — — 17 Caroli
Slide 22: Fixed income: credit ratings
Fixed income Credit ratings as of June 30, 2025 Dominion Energy, Inc. Moody’s S&P Fitch Corporate/Issuer Baa2 BBB+ BBB+ Senior Unsecured Debt Securities Baa2 BBB BBB+ Junior Subordinated Notes Baa3 BBB- BBB- Preferred Stock Ba1 BBB- BBB- Short-Term/Commercial Paper P-2 A-2 F2 Outlook Negative Stable
Slide 23: Fixed income: schedule of long-term debt
Fixed income Preliminary and unaudited schedule of long-term debt as of June 30, 2025 ($M) Segment Financing Entity Description Maturity Weighted Avg. Coupon Current portion Long-term DE Virginia VEPCO Unsecured Senior Notes, fixed rates 2026-2055 4.47% $750 $18,935 DE Virginia VEPCO Tax-Exempt Fina
Slide 24: Fixed income: schedule of debt maturities
Fixed income Schedule of debt maturities as of June 30, 2025 ($M) Financing Segment Due Date Entity DE Virginia DE SC Con Energy Corp & Other Total 2025 3.90% 2015 Series B Senior Notes 10/01/25 DEI - - - 750 750 5.088% Senior Secured Deferred Fuel Cost Bonds 11/01/25 VPFS 82 - - - 82 2025 Total 82
Slide 25: Fixed income: schedule of debt maturities
Fixed income Schedule of debt maturities as of June 30, 2025 ($M) Financing Segment Due Date Entity DE Virginia DE SC Con Energy Corp & Other Total 2027 3.60% 2020 Series B Senior Notes 03/15/27 DEI - - - 350 350 3.50% 2017 Series A Senior Notes 03/15/27 VEPCO 750 - - - 750 5.088% Senior Secured Def