Dominion Energy, the U.S. electric utility covering the world’s biggest data center territory, reported better-than-expected second-quarter profit and revenue on Friday as demand from server warehouses grew beyond 50 gigawatts and offset rising operating expenses.
Financial Performance
Adjusted operating earnings from Dominion’s Virginia segment rose 22% to $670 million during the quarter, while overall operating expenses surged to $4.15 billion from $2.71 billion last year, as utilities continued to spend more on fuel, grid upgrades and maintenance to support growing electricity demand.
Dominion said its Virginia segment had contracted nearly 53.8 gigawatts (GW) of data center capacity as of July, up 5.3 GW from December. The company supplies electricity to 3.6 million customers across Virginia, North Carolina and South Carolina, and natural gas to 500,000 customers in South Carolina.
In May, Dominion and NextEra Energy announced a $66.8 billion merger deal that will form one of the world’s largest electric utilities. The companies will now face a series of regulatory hurdles to close the deal.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
