VIRGINIA ELECTRIC & POWER CO 8-K

What Happened
Virginia Electric & Power Company filed an 8-K (Item 3.02) disclosing an unregistered sale of equity securities on June 30, 2026. The Company issued 6,046 shares of its common stock to Dominion Energy, Inc. (the sole holder of the Company’s common stock) for an aggregate purchase price of approximately $450 million. The sale was made in a transaction exempt from registration under Section 4(a)(2) of the Securities Act of 1933.

Key Details

• Issuance date: June 30, 2026.
• Shares issued: 6,046 common shares.
• Purchase price: approximately $450 million (aggregate).
• Use of proceeds: to reduce the aggregate amount outstanding under the Company’s intercompany credit facility with Dominion Energy.
• Authorization: issued pursuant to a Virginia State Corporation Commission order allowing up to $3.6 billion of common stock to be issued to Dominion Energy through the end of 2029.

Why It Matters
This was an insider, unregistered capital transaction between the Company and its parent (Dominion Energy) that immediately reduced the Company’s intercompany borrowing. For investors, the filing documents a material related-party equity issuance and confirms regulatory authorization for further issuances to the parent through 2029, which could affect the Company’s capital structure and intercompany financing going forward.