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DDominion Energy

Utilities · Electric Utilities · NYSE
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The 10-K against last year's

152 changes: 11 added, 22 removed, 116 reworded, 3 quiet changes

10-K Feb 23, 2026 vs Feb 27, 2025
Risk FactorsRedline ↓
15.4%
of the text changed · 10,059 words now
23.3%
of the text changed · 15,756 words now
Legal ProceedingsRedline ↓
36.9%
of the text changed · 6,310 words now
Accounting PoliciesRedline ↓
18.9%
of the text changed · 10,224 words now

10-K 0001193125-26-063120 (2026-02-23) vs 10-K 0000950170-25-028387 (2025-02-27)

The redline

The paragraph that changed most in each section

Marked against last year's 10-K: cut words struck through, new words highlighted and underlined.

Legal Proceedings 471 words changed in this paragraph; it is 48% similar to last year's version.
Description and Location of Project Application Approval Type of Miles of Cost Estimate of Project Date Date Line Lines (millions)(1) Construct new Germanna substation, transmission November 2023 August 2024 230 kV 2 $55 line and related projects in Culpeper County, Virginia Construct Daves Store transmission line extension February 2024 October 2024 230 kV 3 70 in Prince William County, Virginia Construct new Aspen and Golden substations, March 2024 February 2025 500- 10 705 transmission lines and related March 2024 February 2025(2) 500- 10 705 projects in Loudoun County, Virginia 230 kV County, Virginia Partial rebuild Fredericksburg-Aquia Harbour Construct new Apollo-Twin Creeks transmission lines, new substations and March 2024 February 2025 230- 24 135 transmission lines and related projects in Stafford 115 kV County and the City of Fredericksburg, Virginia Construct new Apollo-Twin Creek transmission lines, March 2024 February 2025 2025(2) 230 kV 2 285 new substations and related projects in Loudoun County, Virginia Rebuild Dooms-Harrisonburg transmission lines April 2024 February 2025 230 kV 22 60 and related projects in the Counties of Augusta and Rockingham and the Town of Grottoes, Virginia Rebuild and construct new Fentress-Yadkin transmission lines and related June 2024 Pending February 2025 500 kV 14 205 transmission lines and related projects in the City of Chesapeake, Virginia Partial rebuild, reconductor and construct new Network Takeoff transmission July 2024 Pending March 2025 230 kV 6 170 Network Takeoff transmission lines and related projects in the Counties of Fairfax and Loudoun, Virginia Rebuild Aquia Harbor-Possum Point transmission August 2024 Pending 500- 32 210 lines and related projects August 2024 March 2025 500- 32 210 in the Counties of 230 kV Stafford and Prince William and the City of Fredericksburg, 230 kV Virginia Partial rebuild, reconductor and construct new New Post transmission lines August 2024 Pending May 2025 230 kV 38 120 New Post transmission lines and related projects in the Counties of Caroline and Spotsylvania, Virginia Construct new Centreport transmission line, September 2024 Pending 230 kV 3 55 substation and related projects in September 2024 June 2025 230 kV 3 55 Stafford County, Virginia Partial rebuild and construct new Meadowville transmission lines, substations October 2024 Pending June 2025 230 kV 11 190 transmission lines, substations and related projects in Chesterfield County, Virginia Construct new Carmel Church and Ruther Glen transmission lines, substations December 2024 Pending September 2025 230 kV 7 85 transmission lines, substations and related projects in Caroline County, Virginia Construct new Nebula transmission lines, January 2025 Pending 230 kV 15 130 substation and related projects in January 2025 October 2025 230 kV 15 130 Mecklenburg County, Virginia Construct new Culpeper Technology transmission lines, substations and February 2025 Pending 230 kV 13 255 lines, substations and related projects in the Counties of Culpeper, Orange and Fauquier and the Town of Culpeper, Virginia Construct new Technology Boulevard transmission lines, substation and March 2025 February 2026 230 kV 5 60 related projects in Henrico County, Virginia Construct new Hornbaker transmission lines, switching station and March 2025 December 2025 230 kV 5 95 related projects in Prince William County, Virginia Construct new Golden-Mars transmission lines and related projects in March 2025 Pending 500- 11 525 Loudoun County, Virginia 230 kV Construct Duval-Midlothian transmission lines, substation and related April 2025 February 2026 230 kV 7 125 projects in Chesterfield County, Virginia Rebuild Chickahominy-Elmont transmission line, new future transmission May 2025 January 2026 500- 28 190 line and related projects in the Counties of Charles City, Henrico and 230 kV Hanover, Virginia Rebuild Septa-Yadkin transmission line, partial rebuild of Suffolk-Thrasher June 2025 December 2025 500- 33 250 transmission line and related projects in Isle of Wight County and the Cities 230 kV of Chesapeake and Suffolk, Virginia Partial rebuild Chesterfield-Lanexa transmission lines in the Counties of September 2025 Pending 230- 58 150 Henrico, Charles City and New Kent, Virginia 115 kV Rebuild Charlottesville-Dooms transmission lines in the Counties of October 2025 Pending 230 kV 22 125 Albemarle and Augusta and the City of Charlottesville, Virginia Construct West Creek transmission line, substation and related projects January 2026 Pending 230 kV 7 100 in the County of Goochland, Virginia

Source: Item 3, via Note 13 – Regulatory Matters, 10-K 0001193125-26-063120 vs Item 3, via Note 13 – REGULATORY MATTERS, 10-K 0000950170-25-028387

Risk Factors 230 words changed in this paragraph; it is 42% similar to last year's version.
The Companies may be materially adversely affected by negative publicity or the inability of Dominion Energy to meet its stated commitments. From time to time, political and public sentiment may result in a significant amount of adverse press coverage and other adverse public statements affecting the Companies. Public sentiment may be affected by certain events outside of the Companies’ control, such as outages caused by severe weather events or increases in approved rates to recover higher than anticipated market rates for fuel used in electric generation. Any failure by Dominion Energy to realize its commitments to achieve net zero carbon and methane emissions by 2050, enhance the customer experience or other long-term goals could lead to adverse press coverage and other adverse public statements affecting the Companies. The ability to comply with some or all of Dominion Energy’s voluntary commitments may be outside of its control. For example, the ability to reduce emissions while meeting the Companies’ increasing demand growth is expected to be dependent on the technological and economic feasibility of large-scale battery storage, carbon capture and storage, small modular reactors, hydrogen and/or other clean energy technologies. Dominion Energy is also dependent on the actions of third parties to meet the expanded commitment regarding Scope 2 emissions and Scope 3 emissions. If downstream customers or upstream suppliers do not sufficiently reduce their GHG emissions, Dominion Energy may not achieve its net zero emissions goal. In addition, while the Atlantic Coast Pipeline Project was cancelled in July 2020 and the legal proceedings and governmental investigations relating to the abandonment of the NND Project have been resolved, there is a risk that lingering negative publicity may continue. Adverse press coverage and other adverse statements, whether or not driven by political or public sentiment, may also result in investigations by regulators, legislators and law enforcement officials or in legal claims as well as adverse outcomes.

Source: Item 1A, 10-K 0001193125-26-063120 vs Item 1A, 10-K 0000950170-25-028387

MD&A 155 words changed in this paragraph; it is 40% similar to last year's version.
Net cash from Dominion Energy’s financing activities decreased $2.4 increased $9.4 billion, primarily due to a $9.5 billion decrease due to the absence of net repayments on 364-day term loan facilities in 2024 versus ($4.8 billion), an increase in net issuances of long-term debt ($3.9 billion), a decrease in 2023, net repayments of short-term debt ($2.0 ($1.4 billion), an increase in capital contributions from Stonepeak to OSWP, net of distributions from OSWP to Stonepeak ($951 million), the absence of the repurchase and redemption of the Series B Preferred Stock ($801 million) and net repayment of supplemental credit facility borrowings ($450 million), partially offset by a $6.8 billion increase due to net issuances of long-term debt in 2024 versus net repayments in 2023, an increase from the sale of a noncontrolling interest in, as well as capital contributions from Stonepeak to, OSWP ($2.9 billion) and ($801 million), an increase in the issuance of common stock ($638 million). ($756 million) and the absence of supplemental credit facility repayments in 2024 ($450 million), partially offset by the impacts from the sale of a noncontrolling interest in OSWP to Stonepeak ($2.6 billion) and a decrease due to the issuance of securitization bonds in 2024 and higher repayments of such bonds in 2025 ($1.4 billion).

Source: Item 7, 10-K 0001193125-26-063120 vs Item 7, 10-K 0000950170-25-028387

Accounting Policies 80 words changed in this paragraph; it is 33% similar to last year's version.
Dominion Energy 2024 2023 Year Ended December 31, 2024 2023 2022 As Previously Reported Adjustments As Revised As Previously Reported Adjustments As Revised (millions) Cash paid during the year for: Interest Net income including noncontrolling interests $ 2,071 $ (90) $ 1,981 $ 2,031 $ (69) $ 1,962 Operating Activities Deferred income taxes (302) 67 (235) 1,474 53 1,527 Other operating assets and related charges, excluding capitalized amounts $ 1,900 $ 1,991 $ 1,408 Income taxes 840 286 139 Significant noncash investing and financing activities:(1)(2) Accrued capital expenditures 1,268 1,085 979 Leases(3) 233 255 144 liabilities (235) 23 (212) (564) 16 (548) Net cash provided by operating activities 5,018 — 5,018 6,572 — 6,572

Source: Item 8, Note 2 – Significant Accounting Policies, 10-K 0001193125-26-063120 vs Item 8, Note 2 – SIGNIFICANT ACCOUNTING POLICIES, 10-K 0000950170-25-028387

Every change, by type

Sentences and paragraphs added, removed or reworded

Sentences and paragraphs of D's Risk Factors and MD&A, 10-K 2026-02-23 against 10-K 2025-02-27. Each links to the text at sec.gov.

RemovedRisk Factors
such actions could render additional existing generation facilities uneconomical to operate, result in the impairment of assets, or otherwise adversely affect the Companies’ results of operations, financial performance or liquidity.

Read it in 10-K 2025-02-27 at sec.gov ↗

RemovedRisk Factors
objectives which may differ from those of the Companies and, accordingly, disputes may arise amongst the owners of such partnership arrangements that may result in delays, litigation or operational impasses.

Read it in 10-K 2025-02-27 at sec.gov ↗

RemovedRisk Factors
maintained against losses resulting from any such attack may not be sufficient to cover such losses or otherwise adequately compensate for any business disruptions that could result.

Read it in 10-K 2025-02-27 at sec.gov ↗

RemovedMD&A
Dominion Energy recognizes the assets and liabilities of a disposal group as held for sale in the period (i) it has approved and committed to a plan to sell the disposal group, (ii) the disposal group is available for immediate sale in its present condition, (iii) an active program to locate a buyer and other actions required to sell the disposal group have been initiated, (iv) the sale of the disposal group is probable, (v) the disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value and (vi) it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Dominion Energy initially measures a disposal group that is classified as held for sale at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in the period in which the held for sale criteria are met. Conversely, gains are not recognized on the sale of a disposal group until closing. Upon designation as held for sale, Dominion Energy stops recording depreciation expense and assesses the fair value of the disposal group less any costs to sell at each reporting period and until it is no longer classified as held for sale.

Read it in 10-K 2025-02-27 at sec.gov ↗

RemovedMD&A
The determination as to whether the sale of the disposal group is probable may include significant judgments from management related to the expectation of obtaining approvals from applicable regulatory agencies such as state utility regulatory commissions,

Read it in 10-K 2025-02-27 at sec.gov ↗

RemovedMD&A
FERC or the U.S. Federal Trade Commission. This analysis is generally based on orders issued by regulatory commissions, past experience and discussions with applicable regulatory authorities and legal counsel.

Read it in 10-K 2025-02-27 at sec.gov ↗

RemovedMD&A
5.87% for pension plans and 5.83% to 5.86% for other postretirement benefit plans for determining its December 31, 2024 projected benefit obligations.

Read it in 10-K 2025-02-27 at sec.gov ↗

RemovedMD&A
Net income attributable to Dominion Energy increased 71%, primarily due to the absences of a charge associated with the impairment of certain nonregulated solar generation facilities, a loss associated with the sale of Kewaunee, a charge for RGGI compliance costs deemed recovered through base rates and a charge in connection with a comprehensive settlement agreement for Virginia fuel

Read it in 10-K 2025-02-27 at sec.gov ↗

Show the other 7
RemovedMD&A
Dominion Energy maintains a $6.0 billion joint revolving credit facility which provides for a discount in the pricing of certain annual fees and amounts borrowed by Dominion Energy under the facility if Dominion Energy achieves certain annual renewable electric generation and diversity and inclusion objectives.

Read it in 10-K 2025-02-27 at sec.gov ↗

RemovedMD&A
In March 2024, Dominion Energy repaid the full $2.5 billion outstanding under its $2.5 billion 364-day term loan facility entered into in January 2023 as amended in January 2024, using after-tax proceeds received in connection with the East Ohio Transaction. The debt was scheduled to mature in July 2024.

Read it in 10-K 2025-02-27 at sec.gov ↗

RemovedMD&A
In March 2024, Dominion Energy repaid $1.8 billion of its $2.25 billion 364-day term loan facility entered into in October 2023, using after-tax proceeds received in connection with the East Ohio Transaction. Subsequently in March 2024, Dominion Energy requested and received a $500 million increase to the amount of the facility and concurrently borrowed $500 million with the proceeds used for general corporate purposes. In May 2024, Dominion Energy repaid the full $976 million outstanding under the facility, using after-tax proceeds received in connection with the Questar Gas Transaction. The debt was scheduled to mature in October 2024.

Read it in 10-K 2025-02-27 at sec.gov ↗

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