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Dominion Energy has raised its capital spending plan to $64.7 billion for 2026-2030, driven by increasing electricity demand from data centers in Virginia. The 2026 earnings forecast is $3.45 to $3.69 per share, slightly below the $3.60 Wall Street estimate, affecting stock performance.

The company has contracted nearly 48.5 gigawatts of data center capacity and will invest $16 billion in electric transmission and $13 billion in electric distribution. The $11.5 billion Coastal Virginia Offshore Wind project is also part of the strategy, with initial electricity expected in early 2026. The plan aims for 5-7% annual earnings growth through 2030.