Dominion sees no slow down in Northern Virginia data center demand, proposes new electricity rates for large load customers
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Data center demand across Northern Virginia remains high, according to Dominion Energy, the main utility serving the state.
Duringtheutility’sQ1earningscall,DominionCFOStevenRidgetoldanalysts:“Wehavenotobservedanyevidenceofslowingdemandfromdatacentercustomersacrossourservicearea.
“We’vegotarealfocusinourserviceterritoryonsortoftraditionalcloudandinferencedemandfromdatacenters,andthere’snoletupintheirinterest.”
InitsQ42024earningsreport,Dominionreportedahugeincreaseindatacentercapacityundercontract.Theutilitysaidithadapproximately40GWinvariousstagesofcontractingasofDecember2024.Thiscomparesto21GWinJuly2024,an88percentincrease.
Asaresult,theutilitysaiditexpectstospend$50.1billionfrom2025to2029,anincreasefromitspreviousestimateof$43.2bn.Thenewcapitalforecastis16percenthigherthanitspriorguidance.
Lastyear,Dominionconnected15newdatacenters,addingnearly1GWofcapacity.Theut
