This document contains the combined reports (“Report") of the Virginia State Corporation Commission (“Commission") pursuant to Chapter 1193 of the 2020 Virginia Acts of Assembly.(*1)

The key highlights of this Report include:

• In its fifth DSM application pursuant to the VCEA, Dominion filed for one new energy efficiency program, one pilot program, five redesigned programs, and modifications to a measure and one demand response program. All Company proposals were approved by the Commission except for Dominion’s proposed Residential Battery Storage Pilot. In its application, Dominion also presented its progress towards achieving the energy efficiency savings goals of the VCEA and the required proposed investment levels of the Grid Transformation and Security Act (“GTSA").(*2)

• In calendar year 2024, APCo did not make any energy efficiency program filing. In 2021, APCo filed for, and received approval of, permission to move to a biennial filing cadence for its energy efficiency program activities. An APCo energy efficiency filing is expected in the fall of 2025.

• In Dominion’s 2024 DSM proceeding, the Commission evaluated the Company’s performance in meeting the 2023 energy savings target pursuant to Code § 56-596.2. Dominion had total combined net savings of 968,884 megawatt-hour (“MWh") in 2023, which represents 1.42% of 2019 total annual sales(*3) and is less than Dominion’s 2023 total annual savings target of 2.5%, or 1,705,783 MWh.

• APCo had a total combined net savings of 241,375 MWh in 2022, which represents 2.41% of 2019 total annual sales,(*4) and is more than APCo’s 2022 total annual energy savings target of 1.0%, or 100,155 MWh. As APCo is now on a biennial filing schedule for DSM applications, the Commission will evaluate APCo’s 2023 and 2024 savings as part of APCo’s 2025 DSM application.

• Calendar year 2024 was the third year in which the VCEA’s energy efficiency targets were in effect pursuant to Code § 56-596.2. The Commission received data related to Dominion’s achievement of such targets in Dominion’s DSM application, as noted above, and in both Dominion and APCo’s evaluation, measurement, and verification (“EM&V") reports.(*5)

• According to its 2025 EM&V Report, Dominion anticipated falling short of the 2024 energy savings target (1.6% achieved compared to the 3.75% target) as measured on a “net"(*6) basis.(*7)

• APCo estimates that it will have exceeded the 2024 energy savings target (2.63% achieved compared to 1.5% target) as measured on a net basis.(*8)

• The Companies’ 2024 EM&V results have not yet been subject to Commission review. The Commission will review these EM&V results as a part of each utility’s upcoming energy efficiency proceedings and will provide additional data related to the feasibility of achieving these energy efficiency goals in future reports.

• The Commission has approved new energy efficiency targets for both Dominion and APCo for calendar years 2026-2028 as part of Case Nos. PUR-2023-00227 and PUR-2024-00134. Dominion’s targets are 3%, 4%, and 5% for 2026-2028 respectively, and APCo’s targets are 3%, 3.5%, and 4% for 2026-2028 respectively.

A glossary of terms is provided in Appendix 3.
_________________________________________________
(*1) Virginia Clean Economy Act (“VCEA"), 2020 Va. Acts chs. 1193, 1194. The VCEA explicitly references Phase I and Phase II utilities. For purposes of this report, the Commission will focus on Appalachian Power Company (“APCo") as a Phase I utility and Dominion Energy Virginia (“DEV" or “Dominion") as a Phase II utility. The Commission further notes that in 2023, Kentucky Utilities d/b/a Old Dominion Power Company (“KU/ODP") filed a comprehensive Demand-Side Management (“DSM") plan targeting at least a 0.02% decrease in total jurisdictional sales. The Commission, having not reached a majority decision in the matter, did not issue an order approving or rejecting KU/ODP’s application. Application of Kentucky Utilities Company d/b/a Old Dominion Power Company for Implementation of a Demand-Side Management Program and Cost-Recovery Adjustment Clause, Case No. PUR2023-00096, 2024 S.C.C. Ann. Rept. 173, Order Closing Case (March 12, 2024).
(*2) Application of Virginia Electric and Power Company For approval of its 2024 DSM Update pursuant to § 56-585.1 A 5 of the Code of Virginia, Case No. PUR-2024-00222, Doc. Con. Cen No. 250830077, Final Order (Aug 13, 2025) (“Dominion 2024 DSM Final Order").
(*3) Dominion’s 2019 Retail Sales were approximately 68,231,332 MWh.
(*4) APCo’s 2019 Retail Sales were approximately 14,452,000 MWh.
(*5) APCo filed its most recent EM&V Report on May 1, 2025, in Case No. PUE-2014-00039 (“APCo 2025 EM&V Report"). Dominion filed its most recent EM&V Report (“Dominion 2025 EM&V Report") on May 30, 2025, in Case No. PUR-2023-00217. Please note that both the 2025 Dominion EM&V and the APCo 2025 EM&V report contain data on the 2024 program year. The public version of documents filed with the Commission may be located on the Commission's website, scc.virginia.gov/case-information, by clicking “Docket Search," then clicking “Search by Case Information," and entering the appropriate case number in the appropriate box.
(*6) “Net" generally refers to changes in energy use that are induced by a particular energy efficiency program, i.e., exclusive of free riders. A “free rider" is someone who would have installed an energy-efficiency measure absent any program incentive but receives the incentive anyway.
(*7) Dominion 2025 EM&V Report at (*1).
(*8) At the time of this report’s publication, APCo has not yet filed its most recent energy efficiency application. See APCo 2025 EM&V Report – Volume I (Commercial and Industrial) at 6, and APCo 2025 EM&V Report – Volume II (Residential) at 8. Dominion’s DSM filing is expected at the end of 2025.