Dominion Energy raised its five-year capital expenditure plan on Wednesday as electricity demand from data centers in its Virginia market continues to accelerate.

The amount of contracted capacity at Dominion from data center operators climbed 88% in the second half of 2024.

The US Energy Information Administration predicts record power demand in 2025 and 2026, driven by data centres.

Dominion Energy raised its five-year capital expenditure plan on Wednesday as the utility firm sought to cash in on the potential growth in power demand from a rise in data centers across the U.S. The Richmond,

Dominion reports mixed Q4 results while raising its five-year capital spending plan as it anticipates a potential surge in power demand from a rise in datacenters across the U.S.