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June 16, 2020

Covid-19 impact on Dominion Energy

By Miranda Mclaren

Due to the Covid-19 pandemic, Dominion announced that it has suspended all service disconnections for nonpayment. Also, it has announced $1m towards Covid-19 relief efforts across the US through the Dominion Energy Charitable Foundation.

The company announced net loss of $270m ($0.34 per share) for Q1 2020 compared with a net loss of $680m ($0.86 per share) for the same period in 2019 and the operating earnings for Q1 2020 were $931m ($1.09 per share), compared with operating earnings of $873m ($1.10 per share) for the same period in 2019.

Meanwhile, on 1 May, Dominion issued a request for proposals for up to 1GW of solar and onshore wind generation and up to 250MW of energy storage in the US. The call came as the Virginia utility quadrupled the amount of solar and wind generation in its 15-year, long-term integrated resource plan (IRP).

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