Thousands Of Dominion Energy Customers In Virginia Remain Without Power After Storms

The majority of outages were reported in the Richmond, Virginia Beach, Chesterfield, and Hanover regions.

Thousands of Dominion Energy (D) customers lost power on Sunday in Virginia after severe storms caused damage to power lines.

According to PowerOutage.US data, more than 57,000 customers remain without power in the state in the early hours of Monday. The affected count reached over 100,000 on Sunday evening.

The bulk of the outages were reported in Richmond, Virginia Beach, Chesterfield, and Hanover regions. The outages occurred after a heatwave warning was issued for large parts of the state over the weekend.  

Retail sentiment on Stocktwits about Dominion was in the ‘bearish’ territory at the time of writing.

U.S. utilities are rapidly upgrading their infrastructure to reduce power outages caused by weather-related events. According to a Deloitte report, U.S. power firms could spend up to $1.4 trillion on infrastructure between 2025 and 2030, amid a surge in power demand driven by artificial intelligence data centers and population growth.

Richmond-based Dominion, which provides electricity to 3.6 million homes in Virginia, North Carolina, and South Carolina, is expected to post its second-quarter earnings on Aug. 1.

The stock has 8.2% riding the AI wave; however, issues at its large wind power segment have capped gains.

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