What Dominion Energy, Inc. told the SEC could break it.

Dominion's CVOW offshore wind project includes ~$0.6B of tariffs on equipment from Mexico/Canada/EU and steel-containing components (delivery 2025–2027), ~$0.2B of which was subject to a Feb 20, 2026 U.S. Supreme Court ruling — the ultimate amount is uncertain.

“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. Such amount is inclusive of approximately $0.2 billion associated with 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 that were the subject of a U.S. Supreme Court's ruling on February 20, 2026.”

Work on the Coastal Virginia Offshore Wind project was halted by a December 2025 federal order until a January 2026 preliminary injunction from the Eastern District of Virginia allowed construction to resume — federal permitting/legal risk to the multibillion-dollar project.

“issued in December 2025 until a preliminary injunction was granted by the U.S District Court for the Eastern District of Virginia in January 2026, which allowed work to resume.”

Data centers accounted for 28% of Virginia Power's electricity sales in 2025 (26% in 2024), a fast-growing customer concentration that prompted new 14-year contract / collateral / demand-minimum requirements for high-load customers.

“Data centers represent 28% and 26% of Virginia Power's electricity sales for the years ended December 31, 2025 and 2024, respectively.”

Approximately 80% of Dominion's regulated electric revenue comes from serving Virginia jurisdictional customers, and ~95% of earnings come from VA/NC/SC regulated utilities, concentrating exposure to Virginia regulatory outcomes.

“Revenue provided by electric distribution and generation operations is based primarily on rates established by the Virginia and North Carolina Commissions. Approximately 80% of revenue comes from serving Virginia jurisdictional customers.”

DESC's generation depends on natural gas (42% of system output) and coal (23%); coal is sourced under contracts with eastern Kentucky/Tennessee/Virginia/West Virginia suppliers that expire at various times through 2026.

“Fossil Fuel — DESC purchases natural gas under contracts with producers and marketers on both a short-term and long-term basis at market-based prices. The gas is delivered to DESC through firm transportation agreements with various counterparties, through 2084 . DESC primarily obtains coal through short-term and long-term contracts with suppliers located in eastern Kentucky, Tennessee, Virginia and West Virginia that will expire at various times through 2026.”