About the Company
Dominion Energy, Inc., commonly known as Dominion, is a power and energy (P&E) company in the United States. Founded and headquartered in Virginia, US, its corporate roots originate in the Colonial era of the 1700s. Dominion was incorporated by a reorganisation of its corporate ancestor named Virginia Electric and Power Company, or VEPCO, in 1983. VEPCO is now a subsidiary of Dominion, alongside numerous others, such as PSNC Energy, Dominion Transmission, SCANA Corporation, Hope Gas, Inc., BrightSuite, and Dominion Retail, Inc., to name a few. Dominion Energy shares trade on the New York Stock Exchange under its ticker symbol of “D”. D share is included as a component on the S&P 500 index as well as DJIA index.
As of 2020, Dominion Energy remained a market leader and one of the largest energy companies of the US. It supplied natural gas as well as electricity across the country, serving 7 million customers in 20 states including Idaho, Utah, Ohio, Wyoming, Georgia, California, and Virginia. It also owns one of the largest natural gas storage facilities in the country with a capacity of approximately 1 trillion cubic feet. Dominion also holds the third-largest solar portfolio amongst the other utility holding companies in its industry.
Dominion has entered into multiple key mergers over the years. It acquired the Questar Corporation in 2014 for $4.4 billion, thereby forming one of the largest combined electric and natural gas companies in the country. In 2018, it invested $500 million with its partner Smithfield Foods in their joint venture named Align RNG, in its endeavour to become the largest supplier of renewable natural gas in the US. Another acquisition followed in 2019 when Dominion bought-off SCANA Corp., for a purchase price of about $14 billion.
In July 2020, Dominion Energy, Inc. announced that it would sell its natural gas assets to Warren Buffet’s Berkshire Hathaway, for about $10 billion. As of 2020, Dominion ranked 238th on the list of Fortune 500 companies and 276th on Forbes’ Global 2000.;
|Organisation||Dominion Resources Inc|