VIRGINIA ELECTRIC & POWER CO 8-K

What Happened Virginia Electric & Power Company (a Dominion Energy, Inc. subsidiary) filed an 8-K on January 30, 2026 reporting an update to the Coastal Virginia Offshore Wind (CVOW) project. Dominion Energy posted a presentation the same day detailing a rise in estimated total project costs and a revised completion timeline after work was temporarily suspended following a December 2025 Bureau of Ocean Energy Management (BOEM) Director’s Order; a preliminary injunction was issued in January 2026.

Key Details

• Estimated total project cost (inclusive of contingency, excluding financing): increased from approximately $11.2 billion to approximately $11.5 billion.
• Schedule: project is now expected to be completed in early 2027 (updated from prior guidance).
• Cause of change: temporary suspension of work from the Dec 2025 BOEM Director’s Order until a preliminary injunction in Jan 2026, plus additional estimated costs related to tariffs.
• Disclosure: Dominion Energy’s January 30, 2026 presentation was furnished as Exhibit 99.1 to the 8-K.

Why It Matters This update affects investor expectations for the CVOW offshore wind project’s cost and timing. The roughly $300 million increase (before financing) and the push to early 2027 may influence project economics, near-term capital needs, and the timing of any associated revenue or regulatory recovery. Investors should note the described causes—regulatory suspension and tariffs—are non-operational events that affected schedule and costs and were disclosed by the company rather than reflecting operational performance metrics like revenue or earnings.