2024 Development Asset Acquisition RFP

15 states energize their homes and businesses with electricity or natural gas from Dominion Energy, headquartered in Richmond, VA. The company is committed to providing reliable, affordable and increasingly clean energy every day and to achieving net zero emissions by 2050. Please visit Dominion Energy.com to learn more. Virginia Electric and Power Company (the “Company” or “Dominion Energy Virginia”) is a wholly owned subsidiary of Dominion Energy and is a regulated public utility that generates, transmits, and distributes electricity for sale in Virginia and portions of northeast North Carolina. The Company is a member of the PJM Interconnection, L.L.C. (“PJM”) Regional Transmission Organization, which operates the wholesale electric grid in the Mid-Atlantic region of the United States. As a result, the Company has transferred operational control of its transmission assets to PJM. The Company has a diverse mix of generating resources consisting of Company-owned nuclear, fossil,

hydro, energy storage, biomass, offshore wind, and solar facilities. Additionally, the Company purchases capacity and energy from non-utility generators and the PJM market. B. Purpose Dominion Energy Virginia is soliciting proposal(s) for the acquisition of development project assets (“Proposals”) for the benefit of Virginia customers from interested parties (“Bidders”). The Company is interested in Proposals for: • new photovoltaic (“PV”) solar nameplate capacity • new PV solar generation co-located with energy storage nameplate capacity • new onshore wind nameplate capacity • new onshore wind co-located with energy storage nameplate capacity • new stand-alone energy storage nameplate capacity https://www.dominionenergy.com/ https://www.dominionenergy.com/ 3 Acquisition of the projects will benefit Virginia customers by supporting their future energy needs as outlined in the Company’s most recent Integrated Resource Plan (IRP). The IRP is the Company’s long-term planning document for developing plausible pathways for meeting future customer needs at the lowest reasonable cost while maintaining reliability and flexibility. New renewable generation resources and energy storage are also needed to achieve Dominion Energy’s commitment of net zero carbon emissions across its enterprise-wide power generation fleet by 2050 and to meet targets as set forth in the Code of Virginia (“Va Code”), which became effective in 2020 through the Virginia Clean Economy Act (“VCEA”). Specifically, the Company must seek the necessary approvals to construct or purchase 16,100 MW of solar or onshore wind generation and 2,700 MW of energy storage capacity in the Commonwealth by 2035, with interim targets and specific resource sub- targets. Renewable Energy Certificates (“RECs”) from eligible resources are intended to be used for purposes of compliance with a mandatory renewable energy portfolio standard program (“RPS Program”), which was also established through the VCEA. The VCEA requires the Company to submit its plan for and progress made toward meeting these statutory development targets annually to the State Corporation Commission (“the Commission”). The Company refers to this filing as its “RPS Development Plan.” The Company’s 2023 RPS Development Plan, approved by the Commission on March 29, 2024, includes specific annual targets for the development of solar, onshore wind, and energy storage.1 This competitive solicitation is consistent with and supports the trajectory shown in the 2023 RPS Development Plan. The Company accepts Proposals on a continuous basis throughout the year for resources that meet the stated scope and requirements within the RFP. This annual rolling approach to the RFP is an effort to provide flexibility for and transparency to the development community and to maximize optionality in our efforts to procure the best clean energy res