Dominion Energy has experienced significant growth in electricity demand over the past year, particularly through its Virginia utility. Dominion Energy Virginia reported a solid 5.4% increase in weather-normalized sales, reflecting a continuing trend of rising demand.
Experts from Dominion and PJM Interconnection, the regional grid operator, suggest this growth will persist. While PJM lowered its immediate load growth forecast, it revised its long-term outlook upwards, expecting a 3.6% annual growth rate until 2036. In Dominion’s service area, the expectation is even higher, with projected growth rates of 5.4% annually for the next decade and 4.9% over the next 15 years.
Key Figures for Dominion Energy (Q4 2025)
- 4.5%: Weather-normalized sales growth.
- ~48.5 GW: Contracted data center capacity, as of December 2025.
- $65B: Planned capital investment through 2030.
- 45%: Portion of five-year spending dedicated to transmission and distribution.
As a key electricity supplier in Northern Virginia’s tech hub—often referred to as “Data Center Alley”—Dominion Virginia has consistently reported about 20% annual growth in demand from data centers for the past decade. With 48.5 GW of data center capacity in various stages of development, the company anticipates sustained expansion.
To meet this growing demand, Dominion Energy Virginia and its South Carolina counterpart plan to invest approximately $65 billion by 2030. This investment is expected to support a 10.2% annual growth in their combined rate base, with 45% earmarked for infrastructure improvements, 18% for new gas generation, and 13% aimed at solar and energy storage initiatives, benefitting from Virginia’s clean energy policies.
During a recent earnings call, Dominion’s CFO, Steven Ridge, suggested that further investments may be on the horizon after 2030, citing ongoing demand across the value chain.
Dominion is also making strides in renewable energy initiatives, including the 2.6-GW Coastal Virginia Offshore Wind project, which is poised to be the largest offshore wind facility in the U.S. Currently, construction is proceeding ahead of schedule with significant progress on the project’s foundations and substations. The company is on track to deliver initial power by March, marking an important milestone, with plans for full commissioning by early 2027.
Despite challenges, including a $228 million charge related to a temporary stop-work order from the U.S. Bureau of Ocean Energy Management, Dominion maintains that the overall impact on their capital budget remains manageable.
In summary, Dominion Energy is not only expanding its infrastructure to meet increasing electricity demands but also actively investing in renewable energy projects, demonstrating a commitment to growth and sustainability in the coming years.