Dominion Energy continues to focus on expanding and improving its regulated electric utilities and long-term contracted businesses while transitioning to a cleaner energy future. Its approximately $50 billion capital expenditure plan for 2025 through 2029 advances its “all-of-the-above” strategy.

In connection with the comprehensive business review concluded in March 2024, Dominion Energy entered into agreements in September 2023 to sell all of its regulated gas distribution operations, except for DESC's, to Enbridge.

Dominion Energy completed the sale in September 2023 of its remaining 50% noncontrolling partnership interest in Cove Point to BHE under an agreement entered into in July 2023.

Dominion Energy's CEO and executive operational leadership within each operating segment are responsible for compliance with the laws and regulations governing environmental matters, including GHG emissions, and Dominion Energy's Board of Directors receives periodic updates on these matters.

Dominion Energy works to recruit, retain and develop the careers of talented individuals regardless of background who reflect its core values; safety, ethics, excellence, embrace change and one Dominion Energy. These core values support Dominion Energy's employees in their efforts to optimize performance, collaborate within teams and across the organization and create a respectful, welcoming work environment.

Dominion Energy prioritizes employee engagement and routinely seeks feedback through surveys, focus groups and other means. Such feedback informs management decisions, enhances support for employees and improves customer service.

Each of the Companies' operating segments is subject to substantial laws, regulations and compliance costs with respect to environmental matters. In addition to imposing continuing compliance obligations, these laws and regulations authorize the imposition of significant penalties for noncompliance, including fines, injunctive relief and other sanctions.

The CVOW Commercial Project is a large-scale, complex project that will take several years to complete. Significant delays or cost increases, or an inability to recover certain project costs, could have an adverse effect on the Companies' financial condition, cash flows and results of operations.

A successful cyber attack through third-party or insider action on the systems that control the Companies' electric generation, electric transmission, electric distribution or gas distribution assets could severely disrupt business operations, preventing the Companies from serving customers or collecting revenues.

Additionally, there is some competition for Virginia Power's generation operations for Virginia jurisdictional electric utility customers that meet certain size requirements or that currently are purchasing energy from competitive suppliers deemed to be 100% renewable by the Virginia Commission.

However, competition from non-incumbent PJM transmission owners for development, construction and ownership of certain transmission facilities in Virginia Power's service territory is permitted pursuant to Order 1000, subject to state and local siting and permitting approvals.

Millstone is dependent on its ability to operate in a competitive environment and does not have a predetermined rate structure that provides for an ROIC. Millstone operates within a functioning RTO and primarily competes on the basis of price. Competitors include other generating assets bidding to operate within the RTO.

Electric operations continue to focus on improving service and experience levels while striving to reduce costs and link investments to operational results. SAIDI performance results, excluding major events, were 130 minutes for the three-year average ending 2024, consistent with the previous three-year average of 130 minutes.

Electric operations continue to focus on improving service and experience levels while striving to reduce costs and link investments to operational results. SAIDI performance results, excluding major events, were 83 minutes for the three-year average ending 2024, up from the previous three-year average of 82 minutes.

Virginia Power's coal supply is obtained through long-term contracts and short-term spot agreements from domestic suppliers.

Virginia Power also plans to continue making progress on its ten-year plan through 2028 to transform its electric grid into a smarter, stronger and greener grid. This plan addresses the structural limitations of Virginia Power's distribution grid in a systematic manner in order to recognize and accommodate fundamental changes and requirements in the energy industry.

Virginia Power plans to invest approximately $1.4 billion from 2025 through 2029 to develop battery-storage facilities to serve utility customers.

Dominion Energy will pursue solutions, including pilot programs, of technologies such as large-scale battery storage, carbon capture and storage, small modular reactors and hydrogen if and when they become technologically and economically feasible.

Its approximately $50 billion capital expenditure plan for 2025 through 2029 advances its “all-of-the-above” strategy through investments in zero-carbon and renewable generation, grid transformation, generation reliability and transmission and distribution resiliency to meet projected demand growth.

Virginia Power plans to invest approximately $4.0 billion from 2025 through 2029 to acquire or construct several solar facilities to serve utility customers.

Virginia Power anticipates filing for approval to construct and operate the Chesterfield Energy Reliability Center. The project, if approved, is expected to have a generating capacity of 1.0 GW and could be placed into service in 2029 to enhance reliability for utility customers.

Dominion Energy is committed to providing reliable, affordable and increasingly clean energy every day. Dominion Energy has set a goal to achieve net zero carbon and methane Scope 1 and Scope 2 emissions and material categories of Scope 3 emissions: electricity purchased to power the grid, fossil fuel purchased for its power stations and gas distribution systems and consumption of sales gas by natural gas customers by 2050.

Dominion Energy seeks to build partnerships and engage with local communities, stakeholders and customers on environmental issues important to them, including considerations such as fair treatment, representative involvement and effective communication.

As part of its broader commitment to transparency, Dominion Energy increased its disclosures around carbon and methane emissions. Dominion Energy discloses its environmental commitments, policies and initiatives in a Sustainability and Corporate Responsibility Report as well as a Climate Report in addition to other reports included on Dominion Energy's dedicated Sustainability website.

PJM has projected a 6.3% average peak annual load growth over the next ten years for the PJM DOM Zone, which includes Dominion Energy Virginia's service territory.

Approximately 78% of revenue comes from serving Virginia jurisdictional customers. Base rates for the Virginia jurisdiction are set using a modified cost-of-service rate model, and are generally designed to allow an opportunity to recover the cost of providing utility service and earn a reasonable return on investments used to provide that service.

Consistent with the increased authority given to NERC by EPACT, Virginia Power is committed to meeting NERC standards, modernizing its infrastructure and maintaining superior system reliability with respect to its electric transmission operations.