Second Quarter 2026 Financial Performance
Operating revenue increased 18% year-over-year to $4,480M in 2026-Q2, driven by a $312M net increase in fuel-related revenue and $217M in non-fuel rider cost recoveries. However, net income attributable to Dominion Energy decreased 55% to $340M ($0.37 diluted EPS) compared to $760M ($0.88 diluted EPS) in 2025-Q2.
Impact of Asset Impairments and Charges
Impairment of assets and other charges increased by $844M year-over-year to $894M in 2026-Q2. This was primarily driven by an $820M charge on nonregulated renewable natural gas facilities and $195M in unrecoverable costs on the CVOW Commercial Project, partially offset by a $195M benefit from Millstone Unit 1 ARO revisions.
Virginia Power Segment Results
Virginia Power generated $3,421M in operating revenue (up 26% year-over-year) and $597M in net income (up 12% year-over-year) during 2026-Q2, benefiting from higher rider equity returns on capital investments, fuel revenue recoveries, and the 2025 Biennial Review.