D · 8-K · 20261030PR439883

Renewable Generation Transition

DOMINION ENERGY, INC · 2026-10-30 · Importance 58 · Surprise 42 · In source text

Dominion Energy recorded $719 million of year-to-date 2026 nonregulated asset impairments and other charges, primarily including an $820 million charge for nonregulated renewable natural gas facilities and a $79 million charge for certain nonregulated solar generation facilities. These charges were partly offset by a $195 million benefit from revising asset retirement obligations at Millstone nuclear power station. The release also reports a $43 million third-quarter reduction in Contracted Energy earnings from renewable energy investment tax credits, partly offset by $36 million of renewable energy production tax credits.

Key facts

• For the first nine months of 2026, Dominion Energy reported $719 million of nonregulated asset impairments and other charges, including an $820 million charge associated with nonregulated renewable natural gas facilities and a $79 million charge associated with certain nonregulated solar generation facilities, offset by a $195 million benefit from revised Millstone nuclear power station asset retirement obligations. source
• Dominion Energy disclosed that its 50% noncontrolling interest in the Coastal Virginia Offshore Wind commercial project carries risks including lack of sole decision-making authority, participant disputes, and difficulties exiting the arrangement. source
• Dominion Energy disclosed that CVOW construction may not meet the currently proposed timeline or current cost estimates, and that cost recovery from customers is uncertain. source
• Dominion Energy disclosed risks concerning timely receipt of future, including optional, capital contributions from the noncontrolling financing partner for construction of the CVOW commercial project. source
• For the first nine months of 2026, Dominion Energy reported a $95 million net charge from regulated asset retirements and other charges, primarily related to Virginia Power's share of CVOW commercial project costs not expected to be recovered from customers. source
• Dominion Energy's third-quarter 2026 operating earnings included a $43 million reduction from renewable energy investment tax credits and a $36 million increase from renewable energy production tax credits. source

Impact estimates