Dominion Energy, Inc. D

Competitive advantage analysis · utilities

Regulated Utilities
Overall moat score
52/100
Moderate

Ranked against 46 peers in Utilities - Regulated Electric

About Dominion Energy, Inc.

Dominion Energy, Inc. provides regulated electricity and natural gas services in the United States. It operates through Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy segments. The Dominion Energy Virginia segment engages in the generation, distribution, and transmission of electricity to approximately 2.8 million residential, commercial, industrial, and governmental customers in Virginia and North Carolina. The Dominion Energy … Full D analysis →

Key strengths

  • Strong Regulated Margins Regulated margin level is strong (score 0.81), indicating favourable rate-case outcomes.
  • Best-in-Class Cost Discipline Operational cost discipline is strong (score 0.82), supporting margin quality.

Key risks

  • Unstable Regulated Margins Margin stability is low (score 0.27), raising questions about rate-case predictability.
  • Leverage Above Peer Norms Leverage is elevated vs peers (score 0.14), constraining financial flexibility.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Regulatory Franchise

Moderate
54
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Signals, strengths and risks for Regulatory Franchise

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Signals, strengths and risks for Rate-Base Return Quality

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Signals, strengths and risks for Dividend Sustainability

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Signals, strengths and risks for Capital Structure Discipline

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Signals, strengths and risks for Operational Efficiency

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Signals, strengths and risks for Essential Service Resilience

Where D ranks in Utilities - Regulated Electric

Dominion Energy, Inc. ranks #21 of 40 scored companies in Utilities - Regulated Electric by moat score — the top 52%. The widest moat in the group is MGE Energy Inc. (MGEE) at 73/100.

# Company Moat score Rating
17 OGE Energy Corp OGE 55/100 Moderate
18 Southern Company (The) SO 55/100 Moderate
19 Entergy Corporation ETR 55/100 Moderate
20 Pinnacle West Capital Corporati PNW 54/100 Moderate
21 Dominion Energy, Inc. D 52/100 Moderate
22 Portland General Electric Co POR 50/100 Developing
23 Via Renewables, Inc. - 8.75% Se VIASP 50/100 Developing
24 Eversource Energy (D/B/A) ES 49/100 Developing
25 Consolidated Edison, Inc. ED 48/100 Developing

See every Regulated Utilities company ranked by moat score →

How D scores on the Regulated Utilities defenses

Regulatory Franchise

Score 54 · 25% of the moat score

The franchise is the moat, granted rather than earned: an exclusive right to serve a territory in exchange for regulated prices and an obligation to supply.

Rate-Base Return Quality

Score 47 · 20% of the moat score

A utility earns an allowed return on the capital invested in its network, the rate base.

Dividend Sustainability

Score 54 · 18% of the moat score

Utilities are owned largely for income, and the dividend is only as safe as the operating cash flow behind it.

Capital Structure Discipline

Score 41 · 17% of the moat score

Regulated utilities carry more debt than almost any other sector, which suits how predictable their revenue is but makes credit quality a core competitive asset.

Operational Efficiency

Score 84 · 12% of the moat score

Efficiency is unusually consequential under regulation.

Essential Service Resilience

Score 31 · 8% of the moat score

Electricity, gas and water are bought in a recession at close to the volume bought in an expansion, which is why utility revenue barely tracks the economic cycle.

How each Regulated Utilities defense is measured, in full →

Understanding D's moat

What is Dominion Energy, Inc.'s moat score?

Dominion Energy, Inc. (D) scores 52 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #21 of 40 scored companies in Utilities - Regulated Electric, the top 52%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 46 companies in Utilities - Regulated Electric. Its strongest defense is Operational Efficiency (84/100) and its weakest is Essential Service Resilience (31/100).

How does Dominion Energy, Inc. compare with other Utilities - Regulated Electric companies?

Dominion Energy, Inc. ranks #21 of 40 scored companies in Utilities - Regulated Electric by moat score. The widest moat in Utilities - Regulated Electric is MGE Energy Inc. (MGEE) at 73/100. The companies ranked closest are Pinnacle West Capital Corporati (PNW) at 54 just above it and Portland General Electric Co (POR) at 50 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Regulated Utilities in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 46 companies in Utilities - Regulated Electric. The defenses are then weighted to produce the overall score out of 100.

Why is Dominion Energy, Inc. scored with the Regulated Utilities template?

A regulated utility is a legal monopoly whose prices are set by a regulator rather than by a market. It cannot raise prices at will and it cannot be undercut, so most of the usual questions about competitive advantage barely apply. What matters is the quality of the regulatory bargain: whether the company earns the return it is allowed, funds its capital programme cheaply, and sustains the dividend investors own it for.

Which competitive defenses are measured for Dominion Energy, Inc.?

The Regulated Utilities template measures 6 defenses, and D scores: Regulatory Franchise (54), Rate-Base Return Quality (47), Dividend Sustainability (54), Capital Structure Discipline (41), Operational Efficiency (84), Essential Service Resilience (31). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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