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Dominion Energy SWOT & PESTLE Analysis

ID : 52318153| Jul 2019| 15 pages

COMPANY PROFILE -Dominion Energy

Business Sector :Electric Utility

Operating Geography :United States, North America

About Dominion Energy :

Dominion Energy is one of America's largest producer and transporter of energy, with a portfolio of approximately 26,200 megawatts of generation, 15,000 miles of natural gas transmission, gather and storage pipelines, and 6,600 miles of electric transmission lines. Founded in 1909, Dominion currently operates as one of the nation's largest natural gas storage systems with 1 trillion cubic feet of storage capacity and serves more than 6 million utility and retail energy customers (all numbers true as of Feb 2018). This American power and energy company, headquartered in Richmond, Virginia, supplies electricity in parts of Virginia and North Carolina and supplies natural gas to parts of West Virginia, Ohio, Pennsylvania, and eastern North Carolina. With over $78 billion of assets providing electric generation, transmission and distribution, as well as natural gas storage, transmission, distribution, and import/export services, Dominion Energy powers the residences and commercial set for over six million consumers spread across 19 states. With an employee strength of 16,200 as of 2018, Dominion Energy is the 4th largest gas and electric utility company in the U.S based on market value. It ranked 283 in the list of World’s Biggest Public Companies, 2017 Dominion Energy’s mission statement reads “to serve our customers safely and reliably; strengthen our communities; reward our shareholders; minimize environmental impacts, and live our values.”

Dominion Energy Revenue :

$12,586 million – FY ending 31st Dec 2017 (y-o-y growth 7.2%) $11,737 million – FY ending 31st Dec 2016

Competitive Analysis of Dominion Energy

SWOT
PESTLE
The SWOT Analysis of Dominion Energy, Inc. is presented below:
Strengths
Weaknesses
1. Energy reliability
2. Improved resilience
3. Strong and abundant workforce
4. Strong customer service
1. Investment in Clean energy
2. Geographic Reach
Opportunities
Threats
1. New Infrastructure
2. Environmental Commitment
1. Increased Competition
2. Presence in non- traditional businesses
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Detailed SWOT Analysis of Dominion Energy

Strength

1. Energy Reliability: Since 2007, Dominion has spent nearly$27 billion to improve production, storage and delivery systems, increasing the loyalty of the energy flowing to the customers. The company’s safe, affordable and dependable energy makes it reliable among its competitors.

2. Improved Resilience: Over 119 years, evolution in the energy sector has made the company more resilient. It serves the customers, employees, communities and owners 24/7. Clean, safe, reliable and affordable solutions are adopted which has made the company successful in its energy delivering.

3. Strong and abundant workforce: The Company recorded nearly 30 million working hours with a workforce of 16,200 employees as of 2016. The injuries suffered by the employees were very low which aided in achieving the results. The abundance of workforce has played a great role for the company in achieving its goals. The company’s expansion plans included people from local region which provided them job opportunities and a strong workforce.

4. Strong Customer service: Dominion Virginia Power reduced the average time for the customers to be without power by 20%. Excluding the major storms in the year from the year 2004-2006, the average customer had power for 99.97% of 2016. The average call wait time was reduced to 42 seconds and enrolled more than 1 million customers in eBill. Electronic payments account for 69% of Dominion Virginia Power customers.

Weakness

1. Investment in Clean energy: The Company needs to invest in clean generating fleet. The greenhouse gases emitted by the power plants are destructive to the environment. Since 2013, the company has spent $2.6 billion on power generation fuelled by the sun but the company needs to take aggressive measures to implement this throughout the new facilities. Since the world is moving towards clean energy sources, this should be leveraged and the business strategies should be based considering the clean energy sources.

2. Geographic Reach: There is a scope for improvement in the geographic reach, by developing infrastructure. The company has strong competitors and hence it needs to invest in clean and reliable energy sources and outreach the competitors. The company may also think of expansion in feasible areas where they can deliver the power effectively and efficiently.

Opportunity

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Threat

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References

1. Dominion ResourcesAnnual Report 2016:https://www.dominionenergy.com/investors/sec-filings-and-reports/summary-annual-report

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SWOT & PESTLE.com (2020). Dominion Energy SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/dominion-energy/ [Accessed 11 Jul, 2020].

In-text: (SWOT & PESTLE.com, 2020)

Copyrights and Disclaimer

Dominion Resources, Inc. SWOT and PESTLE analysis has been conducted by Dhammapriya Kamble and reviewed by senior analysts from Barakaat Consulting.

Copyright of Dominion Resources, Inc. SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

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