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Dominion Energy

Dominion Energy is a publicly listed company headquartered in Virginia, USA. In 2019, its revenue was US$16.57 billion and installed capacity was 27.1 GW. As a vertically integrated, regulated utility with a renewable merchant generation portfolio, Dominion Energy’s low-carbon transition planning focuses on how current and anticipated regulation options can be met with minimum cost to consumers.

Ranking position
#14/50
Performance score
11.1 /20
Narrative Score
D
Trend Score
  • Trend line is up
  • Trend line is equal
  • Trend line is down
Performance module name Performance module score Rank (0-50)

Targets

1.4 / 4.0 #25

Material Investment

5.1 / 7.0 #6

Intangible Investment

0.8 / 2.0 #5

Management

2.5 / 4.0 #13

Policy Engagement

0.2 / 1.0 #39

Business Model

1.1 / 2.0 #28
Total 11.1 / 20 #14

Leading practices

No leading practices were identified for this company.

Risks and opportunities

Trend

Dominion Energy is awarded a trend score of -. If the company were reassessed in the near future, its score would likely worsen. Dominion Energy is not currently on track to meet its own 2030 emissions reduction target unless it takes additional action. It needs to ramp up efforts to better align with the pathway required for well below 2-degree alignment. The emissions reductions expected from the company’s lower fossil fuel generation (particularly coal) will gain significance throughout the 2020s. However, between 2018 and 2023, the emissions intensity trend is not expected to keep up with the reductions required under the company’s well-below 2-degree pathway. As a regulated public utility (albeit with some merchant power generation), Dominion Energy’s low-carbon transition planning is influenced by external factors. Current strategic choices, for example to replace coal power with gas, do, in the short term, leave Dominion Energy on an emissions pathway within the cumulative emissions budget traced by its decarbonisation pathway. However, additional decarbonisation actions are needed for the company to remain within this budget longer term.

Progress towards the Paris Agreement

More about the company

Headquarters
Richmond, Virginia, USA
Ownership structure
Publicly listed
Group revenue
US$16.57 billion (2019)
Ownership structure
27.1 GW (2019)
Website
https://www.dominionenergy.com/