Dominion Energy (D) official guidance

The company expects to be in the top half of the 2026 operating earnings guidance range of $3.45 to $3.69 per share and reaffirms existing operating earnings, credit, dividend, and long-term growth guidance.

The facility's existing PPA has delivered tremendous value to customers, lower costs, and significantly dampened volatility. Despite being priced at the time in 2019 above prevailing price outlooks, the contract is expected to save customers over $300 million this year, including $190 million year to date, in addition to the $200 million in savings to customers last year.

The way I would summarize it is this way, the final turbine date has moved, but the project has been substantially de-risked. CVOW is already producing power, it's already benefiting customers, it's already supporting regulatory recovery. We don't have to wait until the last turbine is installed at the end of 2027 to see the value of this project. We can see it now.

We're increasing our project cost estimate by approximately 2% to $11.65 billion, which continues to include $123 million of unused contingency.

We anticipate that approximately one-third of the most recent cost increase will be shared with our financing partner.

We expect approximately half of project investment adjusted for network upgrade costs to be in service by the end of the year.

We expect the third and final offshore substation to be energized by year-end, which is especially meaningful because it will signify that approximately half of project investment, adjusted for network upgrade costs, has achieved in-service status.

We're increasing our 5-year total capital estimate from $50 billion to approximately $65 billion, representing a 30% increase.

We are reaffirming our existing long-term operating earnings per share guidance of 5%-7% annually off of the original 2025 guidance midpoint of $3.30 per share.

We continue to be on track for the delivery of first power to the grid by the end of March.

Third, we've updated the compounded annual growth rate of our investment base to approximately 10%.

On November 25th, the Virginia SEC approved the Certificate of Public Convenience and Necessity and Rider for the Chesterfield Energy Reliability Center, an approximately 1 GW gas-fired electric generating facility expected to cost approximately $1.5 billion and be placed in service in 2029.

On November 25th, the Virginia SEC approved the Certificate of Public Convenience and Necessity and Rider for the Chesterfield Energy Reliability Center, an approximately 1 GW gas-fired electric generating facility expected to cost approximately $1.5 billion and be placed in service in 2029.

As a general rule of thumb, if the project extends beyond that for some reason, and we don't expect it will, we estimate that each additional quarter to complete turbine installation would add between $150 million and $200 million to the project cost, a portion of which would be allocated to our financing partner.

Going forward, we expect to see typical residential rates increasing by a compound annual growth rate of around 2.6% and 2.8% at DEV and DESC, respectively.

Going forward, we expect to see typical residential rates increasing by a compound annual growth rate of around 2.6% and 2.8% at DEV and DESC, respectively.

With nine months of 2025 financial results reported, we're narrowing our full-year guidance range to $3.33-$3.48 per share, inclusive of RNG 45Z earnings, while preserving the original guidance midpoint of $3.40.

Turning to timing on Slide 10, we now expect first turbine installation to occur late next month and continue to expect first power to be delivered to our customers in late first quarter of next year, approximately five months from now.

Turning to timing on Slide 10, we now expect first turbine installation to occur late next month and continue to expect first power to be delivered to our customers in late first quarter of next year, approximately five months from now.

No change to our current expectation of project completion by the end of 2026, but given delays with Charybdis, we have significantly reduced the schedule's weather and vessel maintenance contingency, which could push a few of the final turbines into early 2027.