Delivering Clean, Reliable, Affordable Energy

Carbon Emissions Reductions

The power sector is leading the way in cutting carbon emissions, and Dominion Energy has cut carbon faster than the industry average.

We are retiring coal-fired generation, investing in renewables, and tracking our progress closely to hold ourselves accountable. We will continue until we reach our goal of net zero.

Strategy

Our environmental strategy focuses heavily on achieving net zero carbon and methane emissions from our electric and natural gas operations by 2050. We are pursuing a diverse mix of cleaner, more efficient, and lower-emitting methods of generating and delivering energy, while advancing aggressive voluntary measures to continue reducing emissions from traditional generation and delivery and maintaining reliable service and affordability.

Changing Generation Mix

Dominion Energy has slashed carbon emissions, primarily by switching fuels for electricity generation. Over the past decade we have retired more than 3,000 megawatts of fossil-fired generation in Virginia and 375 megawatts of fossil-fired generation in South Carolina. We have announced plans to retire Chesterfield Units 5 and 6 (both coal) and Yorktown Unit 3 (oil) in Virginia.

Pursuant to the VCEA, we anticipate shutting down most coal-fired generation in Virginia by 2024, and retiring biomass generation at Altavista, Hopewell, and Southampton by 2028. In South Carolina, we expect to retire or convert all coal-fired generation by 2030.

Since 2013, we have invested more than $4.5 billion in renewables. From 2021 through 2025, we anticipate investing up to $17 billion in zero-carbon generation and storage. Between 2020 and 2035, investment opportunities in zero-carbon generation and energy storage total as much as $48 billion.

2005 & 2020 Combined Net Generation for the Data Year (MWH)

Carbon Emissions Performance Over Time

Since 2005, carbon dioxide emissions from the U.S. power sector have fallen about 33%, and the power industry has been responsible for more than 90% of total cuts in CO2e emissions. Dominion Energy’s CO2e reductions have far outpaced the industry average: From 2005 to 2020, we have cut carbon emissions by approximately 43% from our electric generation business. Dominion Energy Virginia and our Contracted Assets business have cut carbon emissions 38% from 2005 to 2020. Dominion Energy South Carolina’s electric generation total carbon emissions reductions from 2005 through 2020 stand at 50%.

In 2020, our Scope 1 direct emissions rose from 2019, driven primarily by market conditions, including the lowest natural gas prices in a decade. Under these conditions, it was more cost-effective for our customers to meet their needs with power generated from the company’s own generation units rather than market purchases. For the same reason, PJM’s economic dispatch model favored and called on Dominion Energy’s natural gas units more often. Because we used more of our own generating capacity, our Scope 3 emissions from purchased power were lower than they otherwise might have been. On an overall basis, 2020 Scope 1 emissions from self-generation coupled with Scope 3 emissions from purchased power were lower than in 2019.

Dominion Energy - Electric Generation Carbon Emissions 2005-2020

Carbon Emissions Benchmarking - M.J. Bradley Report

Note: Ratings based on 2019 emissions and generation (by ownership)
Source: https://www.mjbradley.com/content/emissions-benchmarking-emissions-charts