Virginia Electric & Power Co, also known as Dominion Energy, is a leading electric utility company in the United States. The company operates in the Electric Transmission & Distribution sector and is headquartered in Richmond, Virginia. Dominion Energy is one of the largest producers and transporters of energy in the country, serving over 7 million customers in 18 states.
The company was founded in 1909 by Frank Jay Gould, a wealthy financier, and his partner, Frederick Ayer. Originally named Virginia Railway and Power Company, the company was created to provide electric power to the Richmond area. Over the years, the company expanded its operations to other parts of Virginia and eventually became a major player in the energy industry.
Dominion Energy's primary business is the generation, transmission, and distribution of electricity and natural gas. The company operates a diverse mix of power plants, including nuclear, coal, natural gas, and renewable energy sources such as wind and solar. Dominion Energy's power generation facilities have a combined capacity of over 31,000 megawatts, making it one of the largest energy producers in the United States.
In addition to its traditional energy generation and distribution business, Dominion Energy has also become a leader in renewable energy development. The company has invested heavily in wind and solar projects, with a goal of having 3,000 megawatts of renewable energy in operation or under development by 2022. Dominion Energy's renewable energy portfolio includes the 12-megawatt Coastal Virginia Offshore Wind (CVOW) pilot project, which is the first offshore wind project in U.S. federal waters.
Dominion Energy's commitment to renewable energy is part of its broader sustainability strategy. The company has set a goal of reducing its carbon emissions by 55% by 2030 and achieving net-zero emissions by 2050. To achieve these goals, Dominion Energy is investing in energy efficiency, electrification, and renewable energy, while also retiring older, less efficient power plants.
In addition to its focus on sustainability, Dominion Energy is also committed to safety and reliability. The company has a robust safety program that includes regular training and inspections, as well as a focus on preventing accidents and incidents. Dominion Energy also invests heavily in its infrastructure to ensure that its customers have access to reliable and affordable energy.
Dominion Energy's commitment to sustainability, safety, and reliability has earned it numerous awards and recognitions. The company has been named to the Dow Jones Sustainability Index for 14 consecutive years and has been recognized by the Edison Electric Institute for its safety and reliability performance.
Dominion Energy is also committed to giving back to the communities it serves. The company has a strong philanthropic program that focuses on education, environmental stewardship, and community vitality. Dominion Energy has donated over $400 million to charitable organizations since 1990 and has a goal of donating $1 billion by 2025.
Overall, Dominion Energy is a leading energy company that is committed to sustainability, safety, reliability, and community engagement. The company's focus on renewable energy development and carbon reduction is an important step towards a more sustainable future, and its commitment to safety and reliability ensures that its customers have access to the energy they need to power their lives.