Latest news with #DominionEnergy
Business Wire
a day ago
- Business
- Business Wire
Buried power lines are reducing storm-related outages for Dominion Energy Virginia customers
RICHMOND, Va.--(BUSINESS WIRE)--As the Atlantic hurricane season begins, Dominion Energy has finished burying more than 2,500 miles of the most outage-prone power lines in Virginia. Burying these lines significantly reduces power outages and restoration time during storms. The work is part of the company's Strategic Underground Program, which was launched in 2014. The program targets areas with the most outages from fallen trees, the leading cause of power outages in Virginia. The company plans to bury thousands more miles in the coming years. The results so far are very positive. The average outage time for customers with buried lines has fallen from 11 hours to just 2 minutes. With fewer outages in these areas, crews can more quickly restore power for other customers. In many areas, average restoration time for all customers has been cut in half during major storms such as tropical storms and hurricanes. 'We're focused on delivering more value for our customers every day,' said Ed Baine, President of Utility Operations and Dominion Energy Virginia. 'It's personal for us because we know power is important for everything in our customers' daily lives. We've made a lot of progress in the most outage-prone areas, and our customers are seeing real results. They're experiencing fewer storm-related outages, and their power is being restored sooner. The results will continue getting better as we make more progress in the years to come.' The company's Mainfeeder Hardening program is further reducing storm-related power outages by replacing thousands of older utility poles and cross arms across the company's system. Average outage time for customers served by hardened mainfeeder lines has fallen by 30%. Since 2019, the program has replaced more than 8,000 utility poles and 9,500 cross arms along more than 265 miles of mainfeeder lines, with the goal of reaching 1,000 miles by 2030. The Atlantic hurricane season runs from June 1 through November 30 and is expected to be active. Dominion Energy encourages customers to prepare with the following tips: Download the Dominion Energy mobile app to report outages and track restoration during storms. Stay at least 30 feet away from downed power lines and report them by calling 866-DOM-HELP. Fully charge electronic devices before storms and consider portable battery packs. Get generators serviced before storm season and ensure proper ventilation. Stock up on essentials like water, non-perishable food, flashlights, and medications. More preparedness tips are available here. Spanish-language versions of Dominion Energy press releases are available here.
Yahoo
a day ago
- Business
- Yahoo
Buried power lines are reducing storm-related outages for Dominion Energy Virginia customers
The company finished burying 2,500 miles of the most outage-prone power lines ahead of the hurricane season Average outage time for customers served by buried power lines has fallen from 11 hours to 2 minutes Customers are reminded how to prepare for hurricane season RICHMOND, Va., June 02, 2025--(BUSINESS WIRE)--As the Atlantic hurricane season begins, Dominion Energy has finished burying more than 2,500 miles of the most outage-prone power lines in Virginia. Burying these lines significantly reduces power outages and restoration time during storms. The work is part of the company's Strategic Underground Program, which was launched in 2014. The program targets areas with the most outages from fallen trees, the leading cause of power outages in Virginia. The company plans to bury thousands more miles in the coming years. The results so far are very positive. The average outage time for customers with buried lines has fallen from 11 hours to just 2 minutes. With fewer outages in these areas, crews can more quickly restore power for other customers. In many areas, average restoration time for all customers has been cut in half during major storms such as tropical storms and hurricanes. "We're focused on delivering more value for our customers every day," said Ed Baine, President of Utility Operations and Dominion Energy Virginia. "It's personal for us because we know power is important for everything in our customers' daily lives. We've made a lot of progress in the most outage-prone areas, and our customers are seeing real results. They're experiencing fewer storm-related outages, and their power is being restored sooner. The results will continue getting better as we make more progress in the years to come." The company's Mainfeeder Hardening program is further reducing storm-related power outages by replacing thousands of older utility poles and cross arms across the company's system. Average outage time for customers served by hardened mainfeeder lines has fallen by 30%. Since 2019, the program has replaced more than 8,000 utility poles and 9,500 cross arms along more than 265 miles of mainfeeder lines, with the goal of reaching 1,000 miles by 2030. The Atlantic hurricane season runs from June 1 through November 30 and is expected to be active. Dominion Energy encourages customers to prepare with the following tips: Download the Dominion Energy mobile app to report outages and track restoration during storms. Stay at least 30 feet away from downed power lines and report them by calling 866-DOM-HELP. Fully charge electronic devices before storms and consider portable battery packs. Get generators serviced before storm season and ensure proper ventilation. Stock up on essentials like water, non-perishable food, flashlights, and medications. More preparedness tips are available here. Spanish-language versions of Dominion Energy press releases are available here. About Dominion Energy Dominion Energy (NYSE: D), headquartered in Richmond, Va., provides regulated electricity service to 3.6 million homes and businesses in Virginia, North Carolina, and South Carolina, and regulated natural gas service to 500,000 customers in South Carolina. The company is one of the nation's leading developers and operators of regulated offshore wind and solar power and the largest producer of carbon-free electricity in New England. The company's mission is to provide the reliable, affordable, and increasingly clean energy that powers its customers every day. Please visit to learn more. News Category: Virginia & North Carolina View source version on Contacts Media Contacts: Northern Virginia: Aisha Khan, 703-397-4429, Central Virginia: Craig Carper, 804-219-8314, Eastern Virginia & Northeast North Carolina: Cherise Newsome, 757-840-0100, Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Is Dominion Energy, Inc.'s (NYSE:D) 7.3% ROE Strong Compared To Its Industry?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. To keep the lesson grounded in practicality, we'll use ROE to better understand Dominion Energy, Inc. (NYSE:D). ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In simpler terms, it measures the profitability of a company in relation to shareholder's equity. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. ROE can be calculated by using the formula: Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity So, based on the above formula, the ROE for Dominion Energy is: 7.3% = US$2.2b ÷ US$31b (Based on the trailing twelve months to March 2025). The 'return' refers to a company's earnings over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.07 in profit. See our latest analysis for Dominion Energy By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. The image below shows that Dominion Energy has an ROE that is roughly in line with the Integrated Utilities industry average (8.9%). So while the ROE is not exceptional, at least its acceptable. Although the ROE is similar to the industry, we should still perform further checks to see if the company's ROE is being boosted by high debt levels. If so, this increases its exposure to financial risk. To know the 2 risks we have identified for Dominion Energy visit our risks dashboard for free. Companies usually need to invest money to grow their profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. In the first and second cases, the ROE will reflect this use of cash for investment in the business. In the latter case, the debt used for growth will improve returns, but won't affect the total equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same. Dominion Energy clearly uses a high amount of debt to boost returns, as it has a debt to equity ratio of 1.45. With a fairly low ROE, and significant use of debt, it's hard to get excited about this business at the moment. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it. Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. In our books, the highest quality companies have high return on equity, despite low debt. If two companies have the same ROE, then I would generally prefer the one with less debt. But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. So you might want to check this FREE visualization of analyst forecasts for the company. But note: Dominion Energy may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
2 days ago
- Business
- Yahoo
Is Dominion Energy, Inc.'s (NYSE:D) 7.3% ROE Strong Compared To Its Industry?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. To keep the lesson grounded in practicality, we'll use ROE to better understand Dominion Energy, Inc. (NYSE:D). ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In simpler terms, it measures the profitability of a company in relation to shareholder's equity. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. ROE can be calculated by using the formula: Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity So, based on the above formula, the ROE for Dominion Energy is: 7.3% = US$2.2b ÷ US$31b (Based on the trailing twelve months to March 2025). The 'return' refers to a company's earnings over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.07 in profit. See our latest analysis for Dominion Energy By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. The image below shows that Dominion Energy has an ROE that is roughly in line with the Integrated Utilities industry average (8.9%). So while the ROE is not exceptional, at least its acceptable. Although the ROE is similar to the industry, we should still perform further checks to see if the company's ROE is being boosted by high debt levels. If so, this increases its exposure to financial risk. To know the 2 risks we have identified for Dominion Energy visit our risks dashboard for free. Companies usually need to invest money to grow their profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. In the first and second cases, the ROE will reflect this use of cash for investment in the business. In the latter case, the debt used for growth will improve returns, but won't affect the total equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same. Dominion Energy clearly uses a high amount of debt to boost returns, as it has a debt to equity ratio of 1.45. With a fairly low ROE, and significant use of debt, it's hard to get excited about this business at the moment. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it. Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. In our books, the highest quality companies have high return on equity, despite low debt. If two companies have the same ROE, then I would generally prefer the one with less debt. But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. So you might want to check this FREE visualization of analyst forecasts for the company. But note: Dominion Energy may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Climate
- Yahoo
Power outages reported across DC, Maryland, Virginia following storms
WASHINGTON () — Thousands of people were without power across the region early Saturday after storms blew through the area Friday night. Friday evening, and officials had issued a severe thunderstorm warning for Anne Arundel, Charles, Howard, Montgomery and Prince George's counties until 7:30 p.m. , with many areas seeing severe thunderstorms and tornado warnings. Following the storms, power outages began popping up in areas across Washington, D.C., Maryland and Virginia, with the most outages reported in Virginia. As of 10:30 a.m., 4,846 customers were without power across Virginia, with many of the outages concentrated in , according to from Dominion Energy. FORECAST: A refreshing shift in the weather this week An indicated that 685 customers, largely in the Baltimore area, were without power as of 10:42 a.m. The lowest number of outages were reported by Pepco, with 37 customers experiencing outages closer to D.C. during the same time frame. DC News Now reached out to Dominion Energy for more information regarding the outages and restoration efforts, including if they are largely believed to have been caused by the storms. Residents can report power outages to their respective utility companies, listed below: Baltimore Gas and Electric (BGE) 1-877-778-2222 First Energy (Potomac Edison) 1-888-544-4877 Pepco 1-877-737-2662 Dominion Energy 1-888-333-4465 Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
