*
Receiving bigger power requests from data center
developers
*
Moving forward with Virginia offshore wind despite lawsuit
*
Net income 78 cents per share in Q1, down from year ago
$1.15
*
Sticks with 2024 operating eps forecast range of $2.62 to
$2.87.
(Refocuses story on data centers, adds offshore wind details)
May 2 (Reuters) - Dominion Energy ( D ) expects to
service 15 more data centers through the end of 2024 as the
utility receives bigger power requests from computer warehouse
developers, company executives said on Thursday.
Electric utility Dominion's service territory includes
northern Virginia, which holds the world's largest concentration
of data centers, which are computer warehouses that are
increasingly used for generative artificial intelligence.
After historically requesting electricity capacity demand of
about 30 megawatts, data center developers are now requesting
two to three times that amount, Dominion executives said on a
call following first quarter earnings.
Projects with multiple data centers can require several
gigawatts of capacity. A single gigawatt can power about 750,000
homes.
Dominion also said it is moving forward with its Virginia
offshore windfarm despite a recent lawsuit over environmental
concerns, including the threat the project may have to whales
and other marine wildlife.
The company reported an unfavorable weather impact of 6
cents per share on its utility earnings for the quarter ended
March 31. It also said its interest and related charges rose
nearly 20% to $574 million in the quarter, from $479 million a
year earlier.
Interest rates in the U.S. have been at multi-decade highs
since hikes began in 2023, leading to a higher cost of
borrowing.
Dominion, which has about 6 million customers in 15 states,
reported a net income of $674 million, or 78 cents per share,
from $981 million, or $1.15 per share in the first quarter a
year earlier.
Its operating revenue also fell to $3.63 billion, compared
with $3.88 billion a year earlier.
The Richmond, Virginia-based company reaffirmed its 2024
operating earnings per share forecast in the range of $2.62 to
$2.87.
