Operating Revenue

12 Months Ended

Dec. 31, 2022

NOTE 4. OPERATING REVENUE

The Companies’ operating revenue consists of the following:


	Dominion Energy								Virginia Power
Year Ended December 31,	2022			2021			2020		2022			2021		2020
(millions)
Regulated electric sales:
Residential	$	5,261		$	4,509		$	4,833	$	4,039		$	3,366	$	3,677
Commercial		4,480			3,194			3,102		3,647			2,417		2,342
Industrial		901			748			730		472			367		380
Government and other retail		1,235			921			868		1,172			862		804
Wholesale		234			175			128		132			107		90
Nonregulated electric sales		1,249			1,005			823		68			44		19
Regulated gas sales:
Residential		1,816			1,455			1,283
Commercial		714			527			457
Other		208			135			88
Nonregulated gas sales		25			96			174
Regulated gas transportation and storage		1,047			945			801
Other regulated revenues		313			265			327		277			234		299
Other nonregulated revenues(1)(2)		242			195			138		61			73		50
Total operating revenue from contracts with customers		17,725			14,170			13,752		9,868			7,470		7,661
Other revenues(1)(3)(4)		(551	)		(206	)		420		(214	)		—		102
Total operating revenue	$	17,174		$	13,964		$	14,172	$	9,654		$	7,470	$	7,763

(1)

See Note 25 for amounts attributable to related parties and affiliates.

(2)

Includes sales which are considered to be goods transferred at a point in time of $45 million, $34 million and $22 million for the years ended December 31, 2022, 2021 and 2020, respectively, at Dominion Energy, primarily consisting of sales of commodities related to nonregulated extraction activities and other miscellaneous products. Additionally, sales of renewable energy credits were $42 million, $33 million and $20 million for the years ended December 31, 2022, 2021 and 2020, respectively, at Dominion Energy and $18 million, $21 million and $11 million for the years ended December 31, 2022, 2021 and 2020, respectively, at Virginia Power.

(3)

Includes alternative revenue of $95 million, $56 million and $119 million at Dominion Energy and $72 million, $44 million and $82 million at Virginia Power for years ended December 31, 2022, 2021 and 2020, respectively.

(4)

Includes revenue associated with services provided to discontinued operations of $5 million and $4 million for the years ended December 31, 2021 and 2020, respectively, at Dominion Energy.

The table below discloses the aggregate amount of the transaction price allocated to fixed-price performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period and when Dominion Energy expects to recognize this revenue. These revenues relate to contracts containing fixed prices where Dominion Energy will earn the associated revenue over time as it stands ready to perform services provided. This disclosure does not include revenue related to performance obligations that are part of a contract with original durations of one year or less. In addition, this disclosure does not include expected consideration related to performance obligations for which Dominion Energy elects to recognize revenue in the amount it has a right to invoice.


Revenue expected to be recognized on multi-year contracts in place at December 31, 2022	2023		2024		2025		2026		2027		Thereafter		Total
(millions)
Dominion Energy(1)	$	68	$	61	$	54	$	48	$	46	$	402	$	679

(1)

Includes no amounts for Virginia Power.

Contract liabilities represent an entity’s obligation to transfer goods or services to a customer for which the entity has received consideration, or the amount that is due, from the customer. At December 31, 2022 and 2021, Dominion Energy’s contract liability balances were $150 million and $124 million, respectively. At December 31, 2022 and 2021, Virginia Power’s contract liability balances were $39 million and $33 million, respectively. The Companies’ contract liabilities are recorded in other current liabilities and other deferred credits and other liabilities in the Consolidated Balance Sheets. The Companies recognize revenue as they fulfill their obligations to provide service to their customers. During the years ended December 31, 2022 and 2021, Dominion Energy recognized revenue of $118 million and $124 million from the beginning contract liability balance. During the years ended December 31, 2022 and 2021, Virginia Power recognized revenue of $33 million and $36 million, respectively, from the beginning contract liability balance.