Regulated Electric Utility

Dominion Energy

Richmond, Virginia-based regulated electric and gas utility serving approximately 7 million customers across multiple states. Dominion Energy Virginia is the primary grid operator for Northern Virginia, the largest data center market in the world, and has connected over 4 GW of data center capacity since 2019.

D Ticker (NYSE)

~$55B Market Cap (Mar 2026)

15,200 Employees (Dec 2025)

Richmond, VA Headquarters

4+ GW connected DC Load (since 2019)

Data Center Load and Grid Capacity

Dominion Virginia disclosed in February 2026 that data center demand nearly tripled since January 2025:

70,000 MW in interconnection queue — only 25,000 MW have set connection dates
10 new large-load requests per month (2,000-3,000 MW each)
Data centers = 26% of Dominion Virginia total electricity sales
GS-5 rate class (Nov 2025): data centers fund their own infrastructure

Dominion Energy Virginia's 2024 load forecast projects data center metered load reaching 13,353 MW by 2038, a 3.5x increase from current levels. To support this growth, Dominion completed two 500 kV transmission lines in Data Center Alley, adding 6 GW of available capacity to the Northern Virginia grid.

Data Center Alley, Ashburn / Loudoun County, VA 94 data centers connected since 2019 · 4+ GW
500 kV Transmission Upgrades, Northern Virginia +6 GW available capacity · completed
Queue Pipeline, Statewide 40,000 MW in queue · 25,000 MW by 2031

Energy Strategy

Dominion Energy is executing a generation buildout to meet data center load growth in Virginia. The company's integrated resource plan calls for a mix of solar, offshore wind, natural gas, and nuclear to serve projected demand. Virginia law requires Dominion to achieve 100% carbon-free electricity by 2045 for most customers.

The scale of incoming data center load is forcing Dominion to accelerate transmission and generation investments. The company is also working through Virginia's State Corporation Commission on rate structures and cost allocation questions as data center load growth raises questions about who funds grid expansion. Individual facilities now requesting several gigawatts represent a structural shift in how Dominion plans capacity.

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