Dominion Energy, Inc. (D) SEC Filings & Earnings Calls

Merger still subject to regulatory approvals; enhanced package may mitigate but not eliminate risk.

“Package designed to address stakeholder feedback; regulatory approvals still required.”

Shareholder litigation risk: two lawsuits and demand letters allege proxy statement deficiencies; could delay or impose costs on merger.

“Scott v. Dominion Energy, Inc., et al., Index No. 654722/2026 (N.Y. Sup. Ct.) and Clark v. Dominion Energy, Inc., et al., Index No. 654742/2026 (N.Y. Sup. Ct.).” · word for word

Merger with NextEra Energy subject to regulatory approvals and shareholder votes; could be delayed or blocked.

“the proposed merger with NextEra Energy...remains subject to regulatory approval and the satisfaction of other customary closing conditions”

GAAP earnings significantly lower due to mark-to-market and decommissioning trust losses.

“Differences between GAAP and operating earnings for the period include gains and losses on nuclear decommissioning trust funds, mark-to-market impact of economic hedging activities” · word for word

Merger execution risk

“NextEra Energy Merger subject to regulatory approvals; termination fee $2.24 billion if Dominion fails”

Impairment risk

“Impairment of assets and other charges $894 million in Q2 2026, including $195 million benefit from Millstone ARO revision and $203 million increase for CCR remediation”

Regulatory risk

“Merger requires approvals from FERC, NRC, Virginia, North Carolina and South Carolina Commissions”

Merger may not close due to regulatory or shareholder approval risks, and failure could adversely affect Dominion's stock price and operations.

“The Merger is subject to the satisfaction or waiver of various conditions ... which may prevent or delay the Merger ... Failure to complete the Merger could adversely affect Dominion Energy’s stock price and/or future operations”

Regulatory approval risk; merger may face antitrust scrutiny

“risk that certain provisions in the merger agreement or the pendency of the transactions may impact either party's ability to pursue certain business opportunities” · word for word

Offshore wind project (CVOW) construction risks; cost overruns and regulatory approvals could impact returns.

“risks and uncertainties that may impact the ability to construct the CVOW commercial project within the currently proposed timeline, or at all, and consistent with current cost estimates” · word for word

Nuclear facility operational risks; unplanned outages could affect earnings.

“risks associated with the operation of nuclear facilities; unplanned outages at facilities” · word for word

Fuel cost volatility

“Electric fuel and other energy-related purchases $1,606 million for Q1 2026 vs $962 million for Q1 2025 (+67% YoY).” · word for word

Interest rate exposure

“Interest and related charges $561 million for Q1 2026 vs $481 million for Q1 2025 (+17% YoY).”

No material financial risk disclosed; credit facility amendments are routine.

“No adverse financial impact or covenant changes mentioned.”

Regulatory risk for cost recovery of large capex

“The company's operations are subject to extensive regulation throughout its multi-state service areas.”

Execution risk for offshore wind project

“~2.6 GW expected to be provided by the Coastal Virginia Offshore Wind (CVOW) commercial project under construction.” · word for word

Interest rate sensitivity

“The company's capital structure and financing flexibility are reviewed by the Finance Committee.” · word for word

CVOW Project Cost Overrun and Tariff Exposure

“The estimated total project costs also include $0.6 billion of tariffs on equipment expected to be delivered from March 2025 through March 2026 that originates from Mexico, Canada, a European Union member or other applicable countries and on equipment expected to be delivered from March 2025 through early 2027 that contains steel.” · word for word

Regulatory Disallowance Risk

“Dominion Energy recorded a net $258 million ($192 million after-tax) of charges for Virginia Power’s share of costs not expected to be recovered from customers on the CVOW 44 Commercial Project” · word for word

Nuclear Decommissioning ARO Sensitivity

“At December 31, 2025, a 0.25% increase in cost escalation rates would have resulted in an approximate $339 million increase in Dominion Energy’s nuclear decommissioning AROs.” · word for word

Offshore wind construction and regulatory risks for CVOW project

“risks and uncertainties that may impact the ability to construct the CVOW commercial project within the currently proposed timeline, or at all, and consistent with current cost estimates along with the ability to recover such costs from customers” · word for word

Weather and natural disaster exposure

“unusual weather conditions and their effect on energy sales ... extreme weather events and other natural disasters” · word for word

Regulatory and legislative changes

“federal, state and local legislative and regulatory developments; changes in or interpretations of federal and state tax laws and regulations; changes to regulated rates” · word for word

Project cost overrun and delay due to regulatory suspension and tariffs.

“Temporary suspension of work from the December 2025 U.S. Department of Interior’s Bureau of Ocean Energy Management Director’s Order until a preliminary injunction was issued in January 2026 as well as additional estimated costs associated with tariffs.” · word for word

Potential for further cost increases or delays.

“Risks and uncertainties that may impact the ability to construct the CVOW Commercial Project within the currently proposed timeline, or at all, and consistent with current cost estimates.” · word for word

Regulatory and legal risks remain; lawsuit against BOEM continues; project could face further delays.

“lawsuit challenging the agency's action proceeds; preliminary injunction granted but legal challenge ongoing.” · word for word

Regulatory suspension risk for offshore wind project, impacting revenue and grid reliability.

“BOEM Director’s Order for a 90-day suspension of work for the Coastal Virginia Offshore Wind (CVOW) project.” · word for word

Energy inflation and job loss risk due to project delay.

“It will also lead to energy inflation and threaten thousands of jobs.” · word for word

Nuclear decommissioning trust tax misstatement

“During the second quarter of 2025, the Companies identified misstatements in their previously issued consolidated financial statements related to income taxes associated with investments held within their qualified nuclear decommissioning trusts, primarily a net understatement of deferred income taxes associated with unrealized gains and losses” · word for word

Regulatory and tax credit uncertainty

“The ultimate nuclear and clean fuel production tax credits realized by the Companies could vary significantly based on pending final U.S. Treasury guidance.” · word for word