Dominion Energy Selected as Top Utility by Business Facilities Magazine
Dominion Energy: Dealmaking Power Player in Virginia
Dominion Energy played an active role in luring some of the largest economic development deals in the country to Virginia in 2018 and is positioned to build on that success in 2019. The key to the company’s impressive track record is a philosophy rooted in responsiveness and customer service.
The company had a hand in helping Virginia win Business Facilities 2018 State of the Year award, as well as in two of its 2018 Deal of the Year winners: the Amazon HQ2 project in Northern Virginia (Gold Award) and Facebook’s data center project in Henrico County (Honorable Mention). The efforts are paying off with billions of dollars in investments and tens of thousands of new, high-paying jobs in its electric service territory.
In 2018, Amazon, Micron, Aligned Energy, and EdgeCore Internet Real Estate announced significant investments within the Dominion Energy service territory.
- The Amazon HQ2 announcement was one of the most sought-after economic development projects in history. Virginia will benefit from its share of the company’s new headquarters project, which includes a $2.5 billion investment and the promise of 25,000 new jobs.
- Micron announced one the largest manufacturing investments in the history of Virginia with the expansion of its existing facility in Manassas. The expansion will include an investment of $3 billion and 1,100 new jobs.
- Aligned Energy solidified its presence in the largest data center market in the world with the announcement of a 180 MW facility in Ashburn.
- EdgeCore Internet Real Estate also announced a new presence in the Northern Virginia data center market with its new 144 MW facility.
“Dominion Energy strives to be more than an energy provider. We actively partner with customers to help define and advance their electrical needs and sustainability goals,” said Kent Hill, Manager of Strategic Economic Development. “We have strong relationships with stakeholders at local and state levels that help drive these investments. Plus, we can leverage our competitive rates, reliable power, key locations, renewable energy options, and the expertise afforded by a team of experienced energy and site selection experts.”
Dominion Energy continues to be one of the most affordable providers of electricity in the country in terms of both residential and industrial rates, a crucial component for economic development and job creation. Dominion Energy rates are consistently around 30% below the national average. The largest data center market in the word is located in Northern Virginia and is continuing to grow at a record pace, due in large part, to electric rates that are among the lowest of any major data center market. Sales and use tax credits and other state and local incentives encourage more data centers and energy intensive companies to locate in Virginia and stay in the Commonwealth moving forward.
The strategic location of the Dominion Energy territory in the Mid-Atlantic region and adjacent to Washington, DC offers world-class transportation and logistics infrastructure and provides easy access to major U.S. and international markets.
Dominion Energy encourages the growth of renewable energy and is committed to providing its customers with program options to support their renewable energy goals. Renewable energy solutions range from an individual Green Power purchasing program to dedicated facilities for large commercial and industrial customers. Dominion Energy’s partnership with companies such as Amazon Web Services, Microsoft, and Facebook has allowed those companies and many others, to meet their renewable energy goals as they grow their businesses in Virginia.
The Dominion Energy economic development team realizes time to market and a streamlined connection plan are critical aspects of the site selection process. The economic development team can help companies navigate the challenges of site selection, siting and permitting, construction design, and service agreements. The team also can help establish crucial business relationships to get facilities up and running quickly and efficiently.
Several key developments promise to enhance the company’s position in 2019. Dominion Energy completed a merger with SCANA Corporation in January, which will extend its territory and the commitment to provide reliable and affordable energy to customers in Georgia, North Carolina, and South Carolina.
Dominion Energy now serves 3.3 million electric utility customer accounts in North Carolina, South Carolina, and Virginia; 3.3 million natural gas utility customer accounts in Idaho, North Carolina, Ohio, South Carolina, Utah, West Virginia, and Wyoming; and 800,000 competitive and regulated natural gas customers in states with competitive markets.
Its operations now include: 93,600 miles of electric transmission and distribution lines; 106,400 miles of natural gas gathering, storage, transmission and distribution pipeline; About 31,000 megawatts of diverse electric generation capacity in 10 states; and more than one trillion cubic feet of natural gas storage.
Dominion Energy is investing in key clean energy infrastructure to better position Virginia’s energy future for decades to come. The company is rapidly growing its renewable energy sources, including solar and wind power, as well as zero-carbon nuclear energy and clean burning natural gas. Today, Dominion Energy has more than 30 facilities totaling 824 MW of solar generation operational or under development in the Commonwealth. These units are capable of providing power to more than 206,000 homes at peak solar output.
Additionally, the company has committed to having 3,000 MW of solar and wind energy in operation or under development in the next three years. The company has contracted with a global wind energy leader—Ørsted Energy of Denmark—to build two 6-megawatt turbines 27 miles off the coast of Virginia Beach. This project is the first off-shore wind project in the mid-Atlantic region.
The growth of renewables is complimented by investments in low-cost, clean-burning natural gas and zero-carbon nuclear energy. Dominion Energy is a partner in the proposed Atlantic Coast Pipeline (ACP), which will ensure a low-cost, reliable supply of natural gas. The ACP is the largest single economic development project currently underway in the Commonwealth and is crucial to future economic development and job creation in the Commonwealth. An economic impact study found that the lower energy prices the project will bring to the region will create up to 2,200 new full-time jobs in North Carolina and Virginia. Additionally, the operation of this pipeline is projected to produce energy cost savings averaging $243 million annually for electric and natural gas consumers in Virginia over the next 20 years.
Similarly, power from Dominion Energy’s four nuclear units in Virginia provides safe, reliable, affordable, and clean electricity. The company has filed to renew the licenses of the two units at the Surry Power Station to keep them in operation through 2053. Renewal will help the Commonwealth remain a leader in the production of clean energy and supports more than 900 high-paying jobs at the station. Dominion Energy anticipates filing for extensions of the licenses at the North Anna Power Station next year, as well, which would allow them to run through 2060.
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