DOMINION ENERGY, INC 8-K

What Happened

• On January 30, 2026, Dominion Energy filed an 8-K and posted a presentation updating the Coastal Virginia Offshore Wind (CVOW) project. The company said estimated total project costs (inclusive of contingency, excluding financing) increased from about $11.2 billion to about $11.5 billion. Dominion also said the project is now expected to be completed in early 2027.
• Dominion attributed the change to the temporary suspension of work following a U.S. Department of the Interior, Bureau of Ocean Energy Management (BOEM) Director’s Order in December 2025 (work paused until a preliminary injunction was issued in January 2026), and to additional estimated costs associated with tariffs.

Key Details

• Estimated total project cost: increased from ~$11.2 billion to ~$11.5 billion (inclusive of contingency; financing costs excluded).
• Timeline change: completion now expected in early 2027.
• Cause cited: temporary work suspension tied to BOEM Director’s Order (Dec 2025) until a preliminary injunction in Jan 2026, plus tariff-related cost estimates.
• Disclosure: presentation posted to Dominion’s investor relations site and furnished as Exhibit 99.1 with the 8-K filed Jan 30, 2026.

Why It Matters

• The cost increase is modest relative to the overall project (roughly a $300 million rise on an ~$11.2 billion baseline), but it represents higher capital needs and potential pressure on project economics and cash deployment.
• The delay to early 2027 shifts expected timing for project completion, which can affect when related power generation, revenue, and any contract or regulatory milestones are realized.
• Investors should note the update is factual and tied to regulatory/legal developments and tariffs; the filing does not provide new financing or earnings guidance tied to this change.