Dominion Energy

As a regulated utility, Dominion’s pricing power is mediated by regulators rather than market dynamics. The company secured an authorized ROE of 9.8% in Virginia for the 2026–2027 period and 9.94% in South Carolina under a 2024 settlement.

Base rates and riders provide cost recovery, and the proposed data center rate class with 14-year commitments is designed to reduce cross-subsidy risk. Still, requested increases can be trimmed by commissions, as seen in the SCC’s reduction of Dominion’s proposed 2026–2027 increases.

Offshore wind risk-sharing with Stonepeak further limits exposure to unforeseen cost inflation. Overall, pricing power is moderate and predictable within the regulatory paradigm, but not discretionary.