8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 8, 2023

Commission File Number	Exact name of registrants as specified in their charters	I.R.S. Employer Identification Number
001-08489	DOMINION ENERGY, INC.	54-1229715
000-55337	Virginia ELECTRIC AND POWER COMPANY	54-0418825
	Virginia (State or other jurisdiction of incorporation or organization)
	120 TREDEGAR STREET RICHMOND, Virginia (Address of principal executive offices)	23219 (Zip Code)
	(804) 819-2284 (Registrants’ telephone number)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, no par value	D	The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

Dominion Energy, Inc. (Dominion Energy) and Virginia Electric and Power Company (collectively the Companies) are filing this Current Report on Form 8-K to recast the consolidated financial statements and other financial information previously included in their combined Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, filed with the Securities and Exchange Commission (the SEC) on August 4, 2023. As disclosed in the Companies' combined Quarterly Report on Form 10-Q for the three months ended September 30, 2023, in connection with the comprehensive business reviewed announced in November 2022, Dominion Energy entered into agreements in September 2023 to sell all of its regulated gas distribution operations, except for those of Dominion Energy South Carolina, Inc., to wholly-owned subsidiaries of Enbridge Inc. (Enbridge). In addition, Dominion Energy completed the sale in September 2023 of its remaining 50% noncontrolling partnership interest in Cove Point LNG, LP to a wholly-owned subsidiary of Berkshire Hathaway Energy Company under the agreement entered in July 2023. These operations are, effective September 2023, classified as discontinued operations and held for sale. Subsequently in September 2023, Dominion Energy revised its primary operating segments. Dominion Energy’s Consolidated Statements of Income for the three and six months ended June 30, 2023 and 2022, Consolidated Balance Sheets at June 30, 2023 and December 31, 2022 and accompanying notes have been recast to reflect these changes in presentation.

The following items of the combined Quarterly Report on Form 10-Q of the Companies for the quarter ended June 30, 2023 have been recast to reflect the previously described classification of certain regulated gas distribution operations and investments as discontinued operations and held for sale as well as the revision of operating segments and are filed as exhibits to this Current Report on Form 8-K and incorporated herein by reference:

• Exhibit 99.1

• Item 1. Financial Statements and Supplementary Data

• Exhibit 99.2

• Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

• Exhibit 101

• The following financial statements for the quarter ended June 30, 2023 from Dominion Energy, Inc.’s Current Report on Form 8-K, filed on November 8, 2023, formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) Consolidated Statements of Income, (ii) Consolidated Statements of Comprehensive Income (iii) Consolidated Balance Sheets, (iv) Consolidated Statements of Equity, (v) Consolidated Statements of Cash Flows, and (vi) the Notes to Consolidated Financial Statements. The following financial statements for the quarter ended June 30, 2023 from Virginia Electric and Power Company’s Current Report on Form 8-K, filed on November 8, 2023, formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) Consolidated Statements of Income, (ii) Consolidated Statements of Comprehensive Income, (iii) Consolidated Balance Sheets, (iv) Consolidated Statements of Common Shareholder’s Equity (v) Consolidated Statements of Cash Flows, and (vi) the Notes to Consolidated Financial Statements.

The recast items of the Form 10-Q described above have been updated only for the aforementioned classification of certain regulated gas distribution operations and investments as discontinued operations and held for sale as well as the revision of operating segments. The Companies have not otherwise updated for activities or events occurring after the date these items were originally presented. The information in this report should be read in conjunction with the other information included (but not replaced as described above) in the Companies’ combined Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 and the Companies’ other filings with the SEC.

Item 9.01 Financial Statements and Exhibits.

Exhibit No.	Description
99.1	Item 1. Financial Statements of Dominion Energy, Inc. and Virginia Electric and Power Company's combined Quarterly Report on Form 10-Q for quarterly period ended June 30, 2023.
99.2	Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations of Dominion Energy, Inc. and Virginia Electric and Power Company's combined Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2023.
101	The following financial statements for the quarter ended June 30, 2023 from Dominion Energy, Inc.’s Current Report on Form 8-K, filed on November 8, 2023, formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) Consolidated Statements of Income, (ii) Consolidated Statements of Comprehensive Income (iii) Consolidated Balance Sheets, (iv) Consolidated Statements of Equity, (v) Consolidated Statements of Cash Flows, and (vi) the Notes to Consolidated Financial Statements. The following financial statements for the quarter ended June 30, 2023 from Virginia Electric and Power Company’s Current Report on Form 8-K, filed on November 8, 2023, formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) Consolidated Statements of Income, (ii) Consolidated Statements of Comprehensive Income, (iii) Consolidated Balance Sheets, (iv) Consolidated Statements of Common Shareholder’s Equity (v) Consolidated Statements of Cash Flows, and (vi) the Notes to Consolidated Financial Statements.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		DOMINION ENERGY, INC.
		Registrant
		/s/ Michele L. Cardiff
	Name:	Michele L. Cardiff
	Title:	Senior Vice President, Controller and Chief Accounting Officer
Date: November 8, 2023
		VIRGINIA ELECTRIC AND POWER COMPANY
		Registrant
		/s/ Michele L. Cardiff
	Name:	Michele L. Cardiff
	Title:	Senior Vice President, Controller and Chief Accounting Officer
Date: November 8, 2023

EX-99.1

Exhibit 99.1

GLOSSARY OF TERMS

The following abbreviations or acronyms used in this Form 10-Q are defined below:

Abbreviation or Acronym	Definition
2017 Tax Reform Act	An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018 (previously known as The Tax Cuts and Jobs Act) enacted on December 22, 2017
2019 Equity Units	Dominion Energy’s 2019 Series A Equity Units issued in June 2019, initially in the form of 2019 Series A Corporate Units, which consisted of a stock purchase contract and a 1/10 interest in a share of the Series A Preferred Stock
2021 Triennial Review	Virginia Commission review of Virginia Power’s earned return on base rate generation and distribution services for the four successive 12-month test periods beginning January 1, 2017 and ending December 31, 2020
2023 Biennial Review	Virginia Commission review of Virginia Power’s earned return on base rate generation and distribution services for the two successive 12-month test periods beginning January 1, 2021 and ending December 31, 2022 and prospective rate base setting for the succeeding annual periods beginning January 1, 2024 and ending December 31, 2025
2025 Biennial Review	Future Virginia Commission review of Virginia Power’s earned return on base rate generation and distribution services for the two successive 12-month test periods beginning January 1, 2023 and ending December 31, 2024 and prospective rate base setting for the succeeding annual periods beginning January 1, 2026 and ending December 31, 2027
ACE Rule	Affordable Clean Energy Rule
AFUDC	Allowance for funds used during construction
AMI	Advanced Metering Infrastructure
AOCI	Accumulated other comprehensive income (loss)
ARO	Asset retirement obligation
Atlantic Coast Pipeline	Atlantic Coast Pipeline, LLC, a limited liability company owned by Dominion Energy and Duke Energy
Atlantic Coast Pipeline Project	A previously proposed approximately 600-mile natural gas pipeline running from West Virginia through Virginia to North Carolina which would have been owned by Dominion Energy and Duke Energy
bcf	Billion cubic feet
Bear Garden	A 622 MW combined-cycle, natural gas-fired power station in Buckingham County, Virginia
BHE	The legal entity, Berkshire Hathaway Energy Company, one or more of its consolidated subsidiaries (including Eastern Energy Gas Holdings, LLC, Northeast Midstream Partners, LP and Cove Point effective November 2020), or the entirety of Berkshire Hathaway Energy Company and its consolidated subsidiaries
CAA	Clean Air Act
CCR	Coal combustion residual
CCRO	Customer credit reinvestment offset
CEP	Capital Expenditure Program, as established by House Bill 95, Ohio legislation enacted in 2011, deployed by East Ohio to recover certain costs associated with capital investment
CERCLA	Comprehensive Environmental Response, Compensation and Liability Act of 1980, also known as Superfund
CFIUS	The Committee on Foreign Investment in the U.S.
CO2	Carbon dioxide
Colonial Trail West	A 142 MW utility-scale solar power station located in Surry County, Virginia
Companies	Dominion Energy and Virginia Power, collectively

Contracted Energy	Contracted Energy operating segment, formerly known as the Contracted Assets operating segment
Cove Point	Cove Point LNG, LP (formerly known as Dominion Energy Cove Point LNG, LP)
CPCN	Certificate of Public Convenience and Necessity
CVOW Commercial Project	A proposed 2.6 GW wind generation facility 27 miles off the coast of Virginia Beach, Virginia in federal waters adjacent to the CVOW Pilot Project and associated interconnection facilities in and around Virginia Beach, Virginia
CVOW Pilot Project	A 12 MW wind generation facility 27 miles off the coast of Virginia Beach, Virginia in federal waters
CWA	Clean Water Act
DECP Holdings	The legal entity DECP Holdings, Inc., which holds Dominion Energy's noncontrolling interest in Cove Point
DEQPS	MountainWest Pipeline Services, Inc. (formerly known as Dominion Energy Questar Pipeline Services, Inc.)
DES	Dominion Energy Services, Inc.
DESC	The legal entity, Dominion Energy South Carolina, Inc., one or more of its consolidated entities or operating segment, or the entirety of Dominion Energy South Carolina, Inc. and its consolidated entities
DGI	Dominion Generation, Inc.
DOE	U.S. Department of Energy
Dominion Energy	The legal entity, Dominion Energy, Inc., one or more of its consolidated subsidiaries (other than Virginia Power) or operating segments, or the entirety of Dominion Energy, Inc. and its consolidated subsidiaries
Dominion Energy Direct®	A dividend reinvestment and open enrollment direct stock purchase plan
Dominion Energy Questar Pipeline	The legal entity, MountainWest Pipeline, LLC (formerly known as Dominion Energy Questar Pipeline, LLC), one or more of its consolidated subsidiaries (including its 50% noncontrolling interest in White River Hub, LLC), or the entirety of Dominion Energy Questar Pipeline, LLC and its consolidated subsidiaries
Dominion Energy South Carolina	Dominion Energy South Carolina operating segment
Dominion Energy Virginia	Dominion Energy Virginia operating segment
Dominion Privatization	Dominion Utility Privatization, LLC, a joint venture between Dominion Energy and Patriot
DSM	Demand-side management
Dth	Dekatherm
Duke Energy	The legal entity, Duke Energy Corporation, one or more of its consolidated subsidiaries, or the entirety of Duke Energy Corporation and its consolidated subsidiaries
East Ohio	The East Ohio Gas Company, doing business as Dominion Energy Ohio
East Ohio Transaction	The proposed sale by Dominion Energy to Enbridge of all issued and outstanding capital stock in Dominion Energy Questar Corporation and its consolidated subsidiaries, which following a proposed reorganization will include East Ohio and Dominion Energy Gas Distribution, LLC, pursuant to a purchase and sale agreement entered into on September 5, 2023
Enbridge	The legal entity, Enbridge Inc., one or more of its consolidated subsidiaries (including Enbridge Elephant Holdings, LLC, Enbridge Parrot Holdings, LLC, and Enbridge Quail Holdings, LLC), or the entirety of Enbridge Inc. and its consolidated subsidiaries
EnergySolutions	EnergySolutions, LLC
EPA	U.S. Environmental Protection Agency
EPS	Earnings per common share

2

FCC	Federal Communications Commission
FERC	Federal Energy Regulatory Commission
GAAP	U.S. generally accepted accounting principles
Gas Distribution	Gas Distribution operating segment
GENCO	South Carolina Generating Company, Inc.
GHG	Greenhouse gas
Greensville County	A 1,629 MW combined-cycle, natural gas-fired power station in Greensville County, Virginia
GTSA	Virginia Grid Transformation and Security Act of 2018
GW	Gigawatt
Hope	Hope Gas, Inc., doing business as Dominion Energy West Virginia through August 2022
Jones Act	The Coastwise Merchandise Statute (commonly known as the Jones Act) 46 U.S.C. §55102 regulating U.S. maritime commerce
Kewaunee	Kewaunee nuclear power station
kV	Kilovolt
LNG	Liquefied natural gas
MGD	Million gallons per day
MW	Megawatt
MWh	Megawatt hour
NAV	Net asset value
NND Project	V.C. Summer Units 2 and 3 nuclear development project under which DESC and Santee Cooper undertook to construct two Westinghouse AP1000 Advanced Passive Safety nuclear units in Jenkinsville, South Carolina
North Anna	North Anna nuclear power station
North Carolina Commission	North Carolina Utilities Commission
NOX	Nitrogen oxide
NRC	U.S. Nuclear Regulatory Commission
Ohio Commission	Public Utilities Commission of Ohio
ozone season	The period May 1st through September 30th, as determined on a federal level
Patriot	Patriot Utility Privatizations, LLC, a joint venture between Foundation Infrastructure Partners, LLC and John Hancock Life Insurance Company (U.S.A.) and affiliates
PIPP	Percentage of Income Payment Plan deployed by East Ohio
PIR	Pipeline Infrastructure Replacement program deployed by East Ohio
PSD	Prevention of significant deterioration
PSNC	Public Service Company of North Carolina, Incorporated, doing business as Dominion Energy North Carolina
PSNC Transaction	The proposed sale by Dominion Energy to Enbridge of all of its membership interests in Fall North Carolina Holdco LLC and its consolidated subsidiaries, which following a proposed reorganization will include PSNC, pursuant to a purchase and sale agreement entered into on September 5, 2023
Q-Pipe Group	Collectively, Dominion Energy Questar Pipeline, DEQPS and MountainWest Energy Holding Company, LLC (formerly known as QPC Holding Company, LLC and its subsidiary MountainWest Southern Trails Pipeline Company (formerly known as Questar Southern Trails Pipeline Company))

3

Questar Gas	Questar Gas Company, doing business as Dominion Energy Utah, Dominion Energy Wyoming and Dominion Energy Idaho
Questar Gas Transaction	The proposed sale by Dominion Energy to Enbridge of all of its membership interests in Fall West Holdco LLC and its consolidated subsidiaries, which following a proposed reorganization will include Questar Gas, Wexpro, Wexpro II Company, Wexpro Development Company, Dominion Energy Wexpro Services Company, Questar InfoComm Inc. and Dominion Gas Projects Company, LLC, pursuant to a purchase and sale agreement entered into on September 5, 2023
Regulation Act	Legislation effective July 1, 2007, that amended the Virginia Electric Utility Restructuring Act and fuel factor statute, which legislation is also known as the Virginia Electric Utility Regulation Act, as amended in 2015, 2018 and 2023
RGGI	Regional Greenhouse Gas Initiative
Rider CCR	A rate adjustment clause associated with the recovery of costs related to the removal of CCR at certain power stations
Rider CE	A rate adjustment clause associated with the recovery of costs related to certain renewable generation, energy storage and related transmission facilities in Virginia as well as certain small-scale distributed generation projects and related transmission facilities
Rider D	A rate mechanism which allows PSNC to recover from customers all prudently incurred gas costs and the related portion of uncollectible expenses as well as losses on negotiated gas and transportation sales
Rider GT	A rate adjustment clause associated with the recovery of costs associated with electric distribution grid transformation projects that the Virginia Commission has approved as authorized by the GTSA
Rider GV	A rate adjustment clause associated with the recovery of costs related to Greensville County
Rider OSW	A rate adjustment clause associated with costs incurred to construct, own and operate the CVOW Commercial Project
Rider PPA	A rate adjustment clause associated with the recovery of costs associated with power purchase agreements for the energy, capacity, ancillary services and renewable energy credits owned by third parties
Rider R	A rate adjustment clause associated with the recovery of costs related to Bear Garden
Rider RGGI	A rate adjustment clause associated with the recovery of costs related to the purchase of allowances through the RGGI market-based trading program for CO2
Rider RPS	A rate adjustment clause associated with the recovery of costs related to the mandatory renewable portfolio standard program established by the VCEA
Rider S	A rate adjustment clause associated with the recovery of costs related to the Virginia City Hybrid Energy Center
Rider SNA	A rate adjustment clause associated with costs relating to the preparation of the applications for subsequent license renewal to the NRC to extend the operating licenses of Surry and North Anna and related projects
Rider T1	A rate adjustment clause to recover the difference between revenues produced from transmission rates included in base rates, and the new total revenue requirement developed annually for the rate years effective September 1
Rider U	A rate adjustment clause associated with the recovery of costs of new underground distribution facilities
Rider US-3	A rate adjustment clause associated with the recovery of costs related to Colonial Trail West and Spring Grove 1
Rider US-4	A rate adjustment clause associated with the recovery of costs related to Sadler Solar
Rider W	A rate adjustment clause associated with the recovery of costs related to Warren County
ROE	Return on equity
Sadler Solar	A 100 MW utility-scale solar power station located in Greensville County, Virginia

4

Santee Cooper	South Carolina Public Service Authority
SCANA	The legal entity, SCANA Corporation, one or more of its consolidated subsidiaries, or the entirety of SCANA Corporation and its consolidated subsidiaries
SCANA Combination	Dominion Energy’s acquisition of SCANA completed on January 1, 2019 pursuant to the terms of the agreement and plan of merger entered on January 2, 2018 between Dominion Energy and SCANA
SCANA Merger Approval Order	Final order issued by the South Carolina Commission on December 21, 2018 setting forth its approval of the SCANA Combination
SCDOR	South Carolina Department of Revenue
SEC	U.S. Securities and Exchange Commission
Series A Preferred Stock	Dominion Energy’s Series A Cumulative Perpetual Convertible Preferred Stock, without par value, with a liquidation preference of $1,000 per share (previously designated the 1.75% Series A Cumulative Perpetual Convertible Preferred Stock)
Series B Preferred Stock	Dominion Energy’s 4.65% Series B Fixed-Rate Cumulative Redeemable Perpetual Preferred Stock, without par value, with a liquidation preference of $1,000 per share
Series C Preferred Stock	Dominion Energy’s 4.35% Series C Fixed-Rate Cumulative Redeemable Perpetual Preferred Stock, without par value, with a liquidation preference of $1,000 per share
South Carolina Commission	Public Service Commission of South Carolina
Southwest Gas	The legal entity, Southwest Gas Holdings, Inc., one or more of its consolidated subsidiaries, or the entirety of Southwest Gas Holdings, Inc. and its consolidated subsidiaries
Spring Grove 1	A 98 MW utility-scale solar power station located in Surry County, Virginia
Summer	V.C. Summer nuclear power station
Surry	Surry nuclear power station
UEX	Uncollectible Expense Rider deployed by East Ohio
Utah Commission	Utah Public Service Commission
VCEA	Virginia Clean Economy Act of March 2020
VEBA	Voluntary Employees’ Beneficiary Association
VIE	Variable interest entity
Virginia City Hybrid Energy Center	A 610 MW baseload carbon-capture compatible, clean coal powered electric generation facility in Wise County, Virginia
Virginia Commission	Virginia State Corporation Commission
Virginia Power	The legal entity, Virginia Electric and Power Company, one or more of its consolidated subsidiaries or operating segment, or the entirety of Virginia Electric and Power Company and its consolidated subsidiaries
Warren County	A 1,349 MW combined-cycle, natural gas-fired power station in Warren County, Virginia
Wexpro	The legal entity, Wexpro Company, one or more of its consolidated subsidiaries, or the entirety of Wexpro Company and its consolidated subsidiaries
Wisconsin Commission	Public Service Commission of Wisconsin
WP&L	Wisconsin Power and Light Company, a subsidiary of Alliant Energy Corporation
WPSC	Wisconsin Public Service Corporation, a subsidiary of WEC Energy Group
Wrangler	Wrangler Retail Gas Holdings, LLC, a partnership between Dominion Energy (through March 2022) and Interstate Gas Supply, Inc.

5

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

DOMINION ENERGY, INC.

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
(millions, except per share amounts)
Operating Revenue	$	3,166		$	3,059		$	7,049		$	6,172
Operating Expenses
Electric fuel and other energy-related purchases		939			730			1,961			1,408
Purchased electric capacity		15			16			23			29
Purchased gas		49			95			172			240
Other operations and maintenance		775			850			1,517			1,740
Depreciation, depletion and amortization		603			600			1,221			1,202
Other taxes		164			177			355			359
Impairment of assets and other charges		44			416			142			405
Losses (gains) on sales of assets		(21	)		636			(23	)		608
Total operating expenses		2,568			3,520			5,368			5,991
Income (loss) from operations		598			(461	)		1,681			181
Other income (expense)		314			(285	)		590			(242	)
Interest and related charges		395			71			874			313
Income (loss) from continuing operations including noncontrolling      interests before income tax expense (benefit)		517			(817	)		1,397			(374	)
Income tax expense (benefit)		86			(152	)		250			(9	)
Net Income (Loss) From Continuing Operations		431			(665	)		1,147			(365	)
Net Income (Loss) From Discontinued Operations(1)		168			212			449			623
Net Income (Loss) Including Noncontrolling Interests		599			(453	)		1,596			258
Noncontrolling Interests		—			—			—			—
Net Income (Loss) Attributable to Dominion Energy	$	599		$	(453	)	$	1,596		$	258
Amounts attributable to Dominion Energy
Net income (loss) from continuing operations	$	431		$	(665	)	$	1,147		$	(365	)
Net income (loss) from discontinued operations		168			212			449			623
Net income (loss) attributable to Dominion Energy	$	599		$	(453	)	$	1,596		$	258
EPS - Basic
Net income (loss) from continuing operations	$	0.49		$	(0.84	)	$	1.32		$	(0.51	)
Net income (loss) from discontinued operations		0.20			0.26			0.54			0.76
Net income (loss) attributable to Dominion Energy	$	0.69		$	(0.58	)	$	1.86		$	0.25
EPS - Diluted
Net income (loss) from continuing operations	$	0.49		$	(0.84	)	$	1.32		$	(0.51	)
Net income (loss) from discontinued operations		0.20			0.26			0.54			0.76
Net income (loss) attributable to Dominion Energy	$	0.69		$	(0.58	)	$	1.86		$	0.25

(1)Includes income tax expense (benefit) of $38 million and $32 million for the three months ended June 30, 2023 and 2022, respectively, and $94 million and $132 million for the six months ended June 30, 2023 and 2022, respectively.

The accompanying notes are an integral part of Dominion Energy’s Consolidated Financial Statements.

6

DOMINION ENERGY, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
(millions)
Net income (loss) including noncontrolling interests	$	599		$	(453	)	$	1,596		$	258
Other comprehensive income (loss), net of taxes:
Net deferred gains (losses) on derivatives-hedging     activities(1)		6			29			(3	)		54
Changes in unrealized net gains (losses) on investment     securities(2)		(1	)		(27	)		16			(89	)
Changes in net unrecognized pension and other     postretirement benefit costs(3)		—			2			—			30
Amounts reclassified to net income (loss):
Net derivative (gains) losses-hedging activities(4)		8			11			16			21
Net realized (gains) losses on investment securities(5)		(2	)		9			(1	)		12
Net pension and other postretirement benefit costs     (credits) (6)		(12	)		16			(23	)		33
Changes in other comprehensive income from equity     method investees(7)		—			—			1			1
Total other comprehensive income (loss)		(1	)		40			6			62
Comprehensive income (loss) including noncontrolling interests		598			(413	)		1,602			320
Comprehensive income attributable to noncontrolling     interests		—			—			—			—
Comprehensive income (loss) attributable to Dominion Energy	$	598		$	(413	)	$	1,602		$	320

(1) Net of $(2) million and $(10) million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $1 million and $(18) million tax for the six months ended June 30, 2023 and 2022, respectively.

(2) Net of $3 million and $9 million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $(4) million and $28 million tax for the six months ended June 30, 2023 and 2022, respectively.

(3) Net of $— million and $2 million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $— million and $(8) million tax for the six months ended June 30, 2023 and 2022, respectively.

(4) Net of $(2) million and $(3) million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $(5) million and $(7) million tax for the six months ended June 30, 2023 and 2022, respectively.

(5) Net of $1 million and $(3) million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $— million and $(4) million tax for the six months ended June 30, 2023 and 2022, respectively.

(6) Net of $4 million and $(6) million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $8 million and $(12) million tax for the six months ended June 30, 2023 and 2022, respectively.

(7) Net of $— million and $— million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $— million and $— million tax for the six months ended June 30, 2023 and 2022, respectively.

The accompanying notes are an integral part of Dominion Energy’s Consolidated Financial Statements.

7

DOMINION ENERGY, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

	June 30, 2023			December 31, 2022(1)
(millions)
ASSETS
Current Assets
Cash and cash equivalents	$	108		$	120
Customer receivables (less allowance for doubtful accounts of $30 and $27)		2,093			2,157
Other receivables (less allowance for doubtful accounts of $1 and $2)		380			383
Inventories		1,627			1,528
Derivative assets		258			1,019
Margin deposit assets		169			480
Regulatory assets		1,294			1,883
Other		570			504
Current assets held for sale		1,478			1,776
Total current assets		7,977			9,850
Investments
Nuclear decommissioning trust funds		6,553			5,957
Investment in equity method affiliates		300			295
Other		323			325
Total investments		7,176			6,577
Property, Plant and Equipment
Property, plant and equipment		78,669			75,178
Accumulated depreciation, depletion and amortization		(24,053	)		(23,352	)
Total property, plant and equipment, net		54,616			51,826
Deferred Charges and Other Assets
Goodwill		4,143			4,143
Regulatory assets		8,065			8,265
Other		5,047			4,780
Total deferred charges and other assets		17,255			17,188
Noncurrent Assets Held for Sale		19,040			18,802
Total assets	$	106,064		$	104,243

(1) Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

The accompanying notes are an integral part of Dominion Energy’s Consolidated Financial Statements.

8

DOMINION ENERGY, INC.

CONSOLIDATED BALANCE SHEETS—(Continued)

(Unaudited)

	June 30, 2023			December 31, 2022(1)
(millions)
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Securities due within one year	$	4,346		$	3,337
Supplemental credit facility borrowings		450			—
Short-term debt		4,575			3,423
Accounts payable		826			1,165
Accrued interest, payroll and taxes		780			910
Derivative liabilities		319			772
Regulatory liabilities		437			748
Other(2)		1,542			1,697
Current liabilities held for sale		711			1,398
Total current liabilities		13,986			13,450
Long-Term Debt
Long-term debt		33,278			32,515
Junior subordinated notes		1,387			1,387
Supplemental credit facility borrowings		—			450
Other		229			232
Total long-term debt		34,894			34,584
Deferred Credits and Other Liabilities
Deferred income taxes and investment tax credits		5,710			5,397
Regulatory liabilities		8,576			8,417
Other		6,924			6,963
Total deferred credits and other liabilities		21,210			20,777
Noncurrent Liabilities Held for Sale		7,546			7,551
Total liabilities		77,636			76,362
Commitments and Contingencies (see Note 17)
Shareholders' Equity
Preferred stock (see Note 16)		1,783			1,783
Common stock – no par(3)		23,704			23,605
Retained earnings		4,507			4,065
Accumulated other comprehensive loss		(1,566	)		(1,572	)
Shareholders' equity		28,428			27,881
Noncontrolling interests		—			—
Total shareholders' equity		28,428			27,881
Total liabilities and shareholders' equity	$	106,064		$	104,243

(1) Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

(2) See Note 10 for amounts attributable to related parties.

(3) 1.8 billion shares authorized; 837 million and 835 million shares outstanding at June 30, 2023 and December 31, 2022, respectively.

The accompanying notes are an integral part of Dominion Energy’s Consolidated Financial Statements.

9

DOMINION ENERGY, INC.

CONSOLIDATED STATEMENTS OF EQUITY

(Unaudited)

QUARTER-TO-DATE

	Preferred Stock				Common Stock				Dominion Energy Shareholders
	Shares		Amount		Shares		Amount		Retained Earnings			AOCI			Total Shareholders' Equity			Noncontrolling Interests		Total Equity
(millions, except per share amounts)
March 31, 2022		2	$	1,783		811	$	21,657	$	5,516		$	(1,436	)	$	27,520		$	—	$	27,520
Net loss including noncontrolling    interests										(453	)					(453	)		—		(453	)
Issuance of stock						21		1,758								1,758					1,758
Stock awards (net of change in    unearned compensation)								12								12					12
Preferred stock dividends (see    Note 16)										(25	)					(25	)				(25	)
Common stock dividends ($0.6675     per share) and distributions										(555	)					(555	)		—		(555	)
Other comprehensive income, net of    tax													40			40					40
June 30, 2022		2	$	1,783		832	$	23,427	$	4,483		$	(1,396	)	$	28,297		$	—	$	28,297
March 31, 2023		2	$	1,783		836	$	23,652	$	4,486		$	(1,565	)	$	28,356		$	—	$	28,356
Net income including noncontrolling    interests										599						599			—		599
Issuance of stock						1		42								42					42
Stock awards (net of change in    unearned compensation)								10								10					10
Preferred stock dividends (see    Note 16)										(20	)					(20	)				(20	)
Common stock dividends ($0.6675     per share) and distributions										(558	)					(558	)		—		(558	)
Other comprehensive loss, net of    tax													(1	)		(1	)				(1	)
June 30, 2023		2	$	1,783		837	$	23,704	$	4,507		$	(1,566	)	$	28,428		$	—	$	28,428

The accompanying notes are an integral part of Dominion Energy’s Consolidated Financial Statements.

10

DOMINION ENERGY, INC.

CONSOLIDATED STATEMENTS OF EQUITY

(Unaudited)

YEAR-TO-DATE

	Preferred Stock				Common Stock				Dominion Energy Shareholders
	Shares		Amount		Shares		Amount		Retained Earnings			AOCI			Total Shareholders' Equity			Noncontrolling Interests		Total Equity
(millions, except per share amounts)
December 31, 2021		2	$	1,783		810	$	21,610	$	5,373		$	(1,458	)	$	27,308		$	—	$	27,308
Net income including noncontrolling    interests										258						258			—		258
Issuance of stock						22		1,803								1,803					1,803
Stock awards (net of change in    unearned compensation)								14								14					14
Preferred stock dividends (see    Note 16)										(52	)					(52	)				(52	)
Common stock dividends ($1.335     per common share) and    distributions										(1,096	)					(1,096	)		—		(1,096	)
Other comprehensive income, net of    tax													62			62					62
June 30, 2022		2	$	1,783		832	$	23,427	$	4,483		$	(1,396	)	$	28,297		$	—	$	28,297
December 31, 2022		2	$	1,783		835	$	23,605	$	4,065		$	(1,572	)	$	27,881		$	—	$	27,881
Net income including noncontrolling    interests										1,596						1,596			—		1,596
Issuance of stock						2		85								85					85
Stock awards (net of change in    unearned compensation)								14								14					14
Preferred stock dividends (see    Note 16)										(40	)					(40	)				(40	)
Common stock dividends ($1.335     per common share) and    distributions										(1,115	)					(1,115	)		—		(1,115	)
Other comprehensive income, net of    tax													6			6					6
Other										1						1					1
June 30, 2023		2	$	1,783		837	$	23,704	$	4,507		$	(1,566	)	$	28,428		$	—	$	28,428

The accompanying notes are an integral part of Dominion Energy’s Consolidated Financial Statements.

11

DOMINION ENERGY, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Six Months Ended June 30,	2023			2022
(millions)
Operating Activities
Net income including noncontrolling interests	$	1,596		$	258
Adjustments to reconcile net income including noncontrolling interests to net cash    provided by operating activities:
Depreciation, depletion and amortization (including nuclear fuel)		1,555			1,535
Deferred income taxes and investment tax credits		305			145
Impairment of assets and other charges		150			392
Losses (gains) on sales of assets and equity method investments		(31	)		601
Net (gains) losses on nuclear decommissioning trust funds and other investments		(308	)		556
Other adjustments		62			(56	)
Changes in:
Accounts receivable		590			(115	)
Inventories		(101	)		(12	)
Deferred fuel and purchased gas costs, net		416			(858	)
Prepayments		(35	)		(81	)
Accounts payable		(694	)		69
Accrued interest, payroll and taxes		(200	)		(155	)
Margin deposit assets and liabilities		311			(291	)
Net realized and unrealized changes related to derivative activities		176			(87	)
Pension and other postretirement benefits		(239	)		(231	)
Other operating assets and liabilities		(359	)		(309	)
Net cash provided by operating activities		3,194			1,361
Investing Activities
Plant construction and other property additions (including nuclear fuel)		(4,850	)		(3,219	)
Acquisition of solar development projects		(12	)		(121	)
Proceeds from sales of securities		1,138			2,081
Purchases of securities		(1,301	)		(1,851	)
Proceeds from sale of assets and equity method investments		11			146
Contributions to equity method affiliates		(48	)		(31	)
Short-term deposit		—			(2,000	)
Other		48			(153	)
Net cash used in investing activities		(5,014	)		(5,148	)
Financing Activities
Issuance of short-term debt, net		1,152			765
364-day term loan facility borrowings		2,500			—
Issuance and remarketing of long-term debt		1,660			2,338
Repayment and repurchase of long-term debt		(2,394	)		(221	)
Supplemental credit facility borrowings		450			900
Repayment of supplemental credit facility borrowings		(450	)		(450	)
Issuance of common stock		85			1,701
Common dividend payments		(1,115	)		(1,096	)
Other		(94	)		(151	)
Net cash provided by financing activities		1,794			3,786
Decrease in cash, restricted cash and equivalents		(26	)		(1	)
Cash, restricted cash and equivalents at beginning of period		341			408
Cash, restricted cash and equivalents at end of period	$	315		$	407

See Note 2 for disclosure of supplemental cash flow information.

The accompanying notes are an integral part of Dominion Energy’s Consolidated Financial Statements.

12

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three Months Ended June 30,					Six Months Ended June 30,
	2023		2022			2023		2022
(millions)
Operating Revenue(1)	$	2,251	$	2,175		$	4,635	$	4,342
Operating Expenses
Electric fuel and other energy-related purchases(1)		706		533			1,505		1,049
Purchased electric capacity		10		11			18		22
Other operations and maintenance:
Affiliated suppliers		99		84			192		175
Other		344		394			692		873
Depreciation and amortization		432		425			879		854
Other taxes		67		83			152		158
Impairment of assets and other charges		38		409			45		413
Total operating expenses		1,696		1,939			3,483		3,544
Income from operations		555		236			1,152		798
Other income (expense)		48		(44	)		84		(40	)
Interest and related charges(1)		182		145			363		293
Income before income tax expense		421		47			873		465
Income tax expense		89		—			188		61
Net Income	$	332	$	47		$	685	$	404

(1)See Note 19 for amounts attributable to affiliates.

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

13

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
(millions)
Net income	$	332		$	47		$	685		$	404
Other comprehensive income (loss), net of taxes:
Net deferred gains (losses) on derivatives-hedging     activities(1)		6			25			(3	)		44
Changes in unrealized net gains (losses) on investment     securities(2)		(1	)		(3	)		3			(10	)
Amounts reclassified to net income:
Net derivative (gains) losses-hedging activities(3)		—			—			—			1
Net realized (gains) losses on investment securities(4)		—			—			—			(1	)
Total other comprehensive income (loss)		5			22			—			34
Comprehensive income	$	337		$	69		$	685		$	438

(1)Net of $(2) million and $(8) million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $1 million and $(15) million tax for the six months ended June 30, 2023 and 2022, respectively.

(2)Net of $1 million and $2 million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $— million and $4 million tax for the six months ended June 30, 2023 and 2022, respectively.

(3)Net of $— million and $— million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $— million and $— million tax for the six months ended June 30, 2023 and 2022, respectively.

(4)Net of $— million and $— million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $— million and $— million tax for the six months ended June 30, 2023 and 2022, respectively.

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

14

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED BALANCE SHEETS

(Unaudited)

	June 30, 2023			December 31, 2022(1)
(millions)
ASSETS
Current Assets
Cash and cash equivalents	$	19		$	22
Customer receivables (less allowance for doubtful accounts of $24 and $21)		1,693			1,578
Other receivables (less allowance for doubtful accounts of $1 and $2)		201			204
Affiliated receivables		72			7
Inventories (average cost method)		1,009			924
Margin deposit assets		32			310
Derivative assets(2)		61			765
Regulatory assets		627			1,140
Other		48			52
Total current assets		3,762			5,002
Investments
Nuclear decommissioning trust funds		3,508			3,202
Other		4			3
Total investments		3,512			3,205
Property, Plant and Equipment
Property, plant and equipment		57,554			54,697
Accumulated depreciation and amortization		(16,760	)		(16,218	)
Total property, plant and equipment, net		40,794			38,479
Deferred Charges and Other Assets
Regulatory assets		4,151			4,247
Other(2)		2,485			2,261
Total deferred charges and other assets		6,636			6,508
Total assets	$	54,704		$	53,194

(1)Virginia Power’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date.

(2)See Note 19 for amounts attributable to affiliates.

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

15

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED BALANCE SHEETS—(Continued)

(Unaudited)

	June 30, 2023		December 31, 2022(1)
(millions)
LIABILITIES AND SHAREHOLDER’S EQUITY
Current Liabilities
Securities due within one year	$	379	$	1,164
Short-term debt		1,265		941
Accounts payable		540		600
Payables to affiliates		97		255
Affiliated current borrowings		2,330		2,024
Accrued interest, payroll and taxes		298		270
Regulatory liabilities		231		506
Derivative liabilities(2)		126		298
Other		1,103		1,176
Total current liabilities		6,369		7,234
Long-Term Debt
Long-term debt		16,050		14,916
Other		69		65
Total long-term debt		16,119		14,981
Deferred Credits and Other Liabilities
Deferred income taxes and investment tax credits		3,588		3,452
Regulatory liabilities		5,799		5,499
Other(2)		4,899		4,783
Total deferred credits and other liabilities		14,286		13,734
Total liabilities		36,774		35,949
Commitments and Contingencies (see Note 17)
Common Shareholder’s Equity
Common stock – no par(3)		5,738		5,738
Other paid-in capital		1,113		1,113
Retained earnings		11,070		10,385
Accumulated other comprehensive income		9		9
Total common shareholder’s equity		17,930		17,245
Total liabilities and shareholder’s equity	$	54,704	$	53,194

(1)Virginia Power’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date.

(2)See Note 19 for amounts attributable to affiliates.

(3)500,000 shares authorized; 274,723 shares outstanding at June 30, 2023 and December 31, 2022.

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

16

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDER’S EQUITY

(Unaudited)

QUARTER-TO-DATE

	Common Stock
	Shares		Amount		Other Paid-In Capital		Retained Earnings		AOCI			Total
(millions, except for shares)	(thousands)
March 31, 2022		275	$	5,738	$	1,113	$	9,526	$	(29	)	$	16,348
Net income								47					47
Other comprehensive income, net of tax										22			22
Other								1					1
June 30, 2022		275	$	5,738	$	1,113	$	9,574	$	(7	)	$	16,418
March 31, 2023		275	$	5,738	$	1,113	$	10,738	$	4		$	17,593
Net income								332					332
Other comprehensive income, net of tax										5			5
June 30, 2023		275	$	5,738	$	1,113	$	11,070	$	9		$	17,930

YEAR-TO-DATE

	Common Stock
	Shares		Amount		Other Paid-In Capital		Retained Earnings		AOCI			Total
(millions, except for shares)	(thousands)
December 31, 2021		275	$	5,738	$	1,113	$	9,170	$	(41	)	$	15,980
Net income								404					404
Other comprehensive income, net of tax										34			34
June 30, 2022		275	$	5,738	$	1,113	$	9,574	$	(7	)	$	16,418
December 31, 2022		275	$	5,738	$	1,113	$	10,385	$	9		$	17,245
Net income								685					685
Other comprehensive income, net of tax										—			—
June 30, 2023		275	$	5,738	$	1,113	$	11,070	$	9		$	17,930

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

17

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Six Months Ended June 30,	2023			2022
(millions)
Operating Activities
Net income	$	685		$	404
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (including nuclear fuel)		961			937
Deferred income taxes and investment tax credits		107			147
Impairment of assets and other charges		44			400
Net (gains) losses on nuclear decommissioning trust funds and other investments		(45	)		75
Other adjustments		(5	)		(50	)
Changes in:
Accounts receivable		4			(302	)
Affiliated receivables and payables		(224	)		(27	)
Inventories		(88	)		22
Prepayments		(1	)		4
Deferred fuel expenses, net		386			(780	)
Accounts payable		(27	)		116
Accrued interest, payroll and taxes		27			42
Margin deposit assets and liabilities		278			(311	)
Net realized and unrealized changes related to derivative activities		472			84
Other operating assets and liabilities		(121	)		(72	)
Net cash provided by operating activities		2,453			689
Investing Activities
Plant construction and other property additions		(3,236	)		(1,996	)
Purchases of nuclear fuel		(100	)		(118	)
Acquisition of solar development projects		(12	)		(38	)
Proceeds from sales of securities		719			864
Purchases of securities		(824	)		(892	)
Other		55			(21	)
Net cash used in investing activities		(3,398	)		(2,201	)
Financing Activities
Issuance (repayment) of short-term debt, net		324			(20	)
Issuance (repayment) of affiliated current borrowings, net		306			(587	)
Issuance and remarketing of long-term debt		1,660			2,338
Repayment and repurchase of long-term debt		(1,308	)		(138	)
Other		(42	)		(49	)
Net cash provided by financing activities		940			1,544
Increase (decrease) in cash, restricted cash and equivalents		(5	)		32
Cash, restricted cash and equivalents at beginning of period		24			26
Cash, restricted cash and equivalents at end of period	$	19		$	58

See Note 2 for disclosure of supplemental cash flow information.

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

18

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Note 1. Nature of Operations

Dominion Energy, headquartered in Richmond, Virginia, is one of the nation’s largest producers and distributors of energy. Dominion Energy’s operations are conducted through various subsidiaries, including Virginia Power. Dominion Energy’s operations also include DESC, regulated gas distribution operations primarily in the eastern and Rocky Mountain regions of the U.S., nonregulated electric generation and a noncontrolling interest in Cove Point. In July 2023, Dominion Energy entered into an agreement to sell its remaining 50% noncontrolling partnership interest in Cove Point to BHE. See Note 10 for additional information.

In connection with the comprehensive business review announced in November 2022, Dominion Energy entered into agreements in September 2023 to sell all of its regulated gas distribution operations, except for DESC’s, to Enbridge. In addition, Dominion Energy completed the sale in September 2023 of its remaining 50% noncontrolling partnership interest in Cove Point to BHE under the agreement entered in July 2023. As discussed in Notes 3 and 10, these operations are classified as discontinued operations and held for sale in Dominion Energy’s Consolidated Financial Statements. Subsequently in September 2023, Dominion Energy revised its primary operating segments as discussed in Note 21. Dominion Energy’s Consolidated Financial Statements and Notes have been recast to reflect these changes in presentation.

Note 2. Significant Accounting Policies

As permitted by the rules and regulations of the SEC, the Companies’ accompanying unaudited Consolidated Financial Statements contain certain condensed financial information and exclude certain footnote disclosures normally included in annual audited consolidated financial statements prepared in accordance with GAAP. These unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

In the Companies’ opinion, the accompanying unaudited Consolidated Financial Statements contain all adjustments necessary to present fairly their financial position at June 30, 2023, their results of operations and changes in equity for the three and six months ended June 30, 2023 and 2022 and their cash flows for the six months ended June 30, 2023 and 2022. Such adjustments are normal and recurring in nature unless otherwise noted.

The Companies make certain estimates and assumptions in preparing their Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates.

The Companies’ accompanying unaudited Consolidated Financial Statements include, after eliminating intercompany transactions and balances, their accounts, those of their respective majority-owned subsidiaries and non-wholly-owned entities in which they have a controlling financial interest. For certain partnership structures, income is allocated based on the liquidation value of the underlying contractual arrangements.

The results of operations for interim periods are not necessarily indicative of the results expected for the full year. Information for quarterly periods is affected by seasonal variations in sales, rate changes, electric fuel and other energy-related purchases, purchased gas expenses and other factors.

Certain amounts in the Companies’ 2022 Consolidated Financial Statements and Notes have been reclassified to conform to the 2023 presentation for comparative purposes; however, such reclassifications did not affect the Companies’ net income, total assets, liabilities, equity or cash flows.

Amounts disclosed for Dominion Energy are inclusive of Virginia Power, where applicable. There have been no significant changes from Note 2 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, with the exception of the items described below.

19

Cash, Restricted Cash and Equivalents

Restricted Cash and Equivalents

The following table provides a reconciliation of the total cash, restricted cash and equivalents reported within the Companies’ Consolidated Balance Sheets to the corresponding amounts reported within the Companies’ Consolidated Statements of Cash Flows for the six months ended June 30, 2023 and 2022:

	Cash, Restricted Cash and Equivalents at End of Period				Cash, Restricted Cash and Equivalents at Beginning of Period
	June 30, 2023		June 30, 2022		December 31, 2022		December 31, 2021
(millions)
Dominion Energy
Cash and cash equivalents(1)	$	137	$	273	$	153	$	283
Restricted cash and equivalents(2)		178		134		188		125
Cash, restricted cash and equivalents shown in the    Consolidated Statements of Cash Flows	$	315	$	407	$	341	$	408
Virginia Power
Cash and cash equivalents	$	19	$	56	$	22	$	26
Restricted cash and equivalents(3)		—		2		2		—
Cash, restricted cash and equivalents shown in the    Consolidated Statements of Cash Flows	$	19	$	58	$	24	$	26

(1)At June 30, 2023, June 30, 2022, December 31, 2022 and December 31, 2021, Dominion Energy had $29 million, $24 million, $34 million and $34 million, respectively, of cash and cash equivalents included in current assets held for sale.

(2)At June 30, 2023, June 30, 2022, December 31, 2022 and December 31, 2021, Dominion Energy had $3 million, $1 million, $2 million and less than $1 million, respectively, of restricted cash and equivalents included in current assets held for sale.

(3)Restricted cash and equivalents balances are presented within other current assets in Virginia Power's Consolidated Balance Sheets.

Supplemental Cash Flow Information

The following table provides supplemental disclosure of cash flow information related to Dominion Energy:

Six Months Ended June 30,	2023		2022
(millions)
Significant noncash investing and financing activities:(1)
Accrued capital expenditures	$	713	$	512
Leases(2)		279		57

(1)See Note 10 for noncash investing activities related to the acquisition of a noncontrolling interest in Dominion Privatization, Note 16 for noncash financing activities related to the remarketing of Series A Preferred Stock and the issuance of common stock associated with the settlement of litigation and Note 17 for noncash financing activities related to the transfer of property associated with the settlement of litigation.

(2)Includes $40 million and $19 million of financing leases at June 30, 2023 and 2022, respectively, and $239 million and $38 million of operating leases at June 30, 2023 and 2022, respectively.

The following table provides supplemental disclosure of cash flow information related to Virginia Power:

Six Months Ended June 30,	2023		2022
(millions)
Significant noncash investing and financing activities:
Accrued capital expenditures	$	550	$	240
Leases(1)		242		47

(1)Includes $36 million and $14 million of financing leases at June 30, 2023 and 2022, respectively, and $206 million and $33 million of operating leases at June 30, 2023 and 2022, respectively.

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Note 3. Acquisitions and Dispositions

Business Review Dispositions

Sale of East Ohio

In September 2023, Dominion Energy entered into an agreement with Enbridge for the East Ohio Transaction, which includes the sale of East Ohio and is valued at approximately $6.6 billion, consisting of a purchase price of approximately $4.3 billion in cash and approximately $2.3 billion of assumed indebtedness. The purchase price will be subject to customary post-closing adjustments, including adjustments for cash, indebtedness, net working capital, capital expenditures and net regulatory assets and liabilities. Closing of the East Ohio Transaction is not conditioned upon the closing of the PSNC or Questar Gas Transactions. The sale will be treated as a stock sale for tax purposes and is expected to close in 2024, subject to clearance or approval under or by the Hart-Scott-Rodino Act, CFIUS and FCC as well as other customary closing and regulatory conditions. In November 2023, the waiting period under the Hart-Scott-Rodino Act expired. Also in November 2023, Dominion Energy submitted its initial filing request for approval by CFIUS. In October 2023, as required under the sale agreement, Dominion Energy filed a notice with the Ohio Commission. The proposed internal reorganization in connection with the East Ohio Transaction is subject to approval by the Utah and Wyoming Commissions. Dominion Energy filed for such approvals in September 2023 and received approval from the Utah Commission in November 2023.

Upon closing, Dominion Energy will retain the pension and other postretirement benefit plan assets and obligations, including related income tax and other deferred balances, associated with retiree participants in both East Ohio's union pension and other postretirement benefit plans and retiree participants of the sale entities in the Dominion Energy Pension Plan and the Dominion Energy Retiree Health and Welfare Plan. The East Ohio Transaction is subject to termination by either party if not completed by September 2024, subject to a potential three-month extension for receipt of regulatory approvals, with a termination fee of $155 million due to Dominion Energy under certain conditions. Based on the recorded balances at September 30, 2023, Dominion Energy expects to recognize a pre-tax gain of approximately $20 million ($20 million after-tax loss) upon closing, including the write-off of $1.5 billion of goodwill which is not deductible for tax purposes but excluding the effects of final closing adjustments.

At the closing of the East Ohio Transaction, Dominion Energy and Enbridge will enter into a transition services agreement pursuant to which Dominion Energy will continue to provide certain services to support the ongoing operations of East Ohio for up to approximately two years. Enbridge has also agreed to provide certain services to Dominion Energy.

Sale of PSNC

In September 2023, Dominion Energy entered into an agreement with Enbridge for the PSNC Transaction, which includes the sale of PSNC and is valued at approximately $3.1 billion, consisting of a purchase price of approximately $2.2 billion in cash and approximately $1.0 billion of assumed indebtedness. The purchase price will be subject to customary post-closing adjustments, including adjustments for cash, indebtedness, net working capital, capital expenditures and net regulatory assets and liabilities. Closing of the PSNC Transaction is not conditioned upon the closing of the East Ohio or Questar Gas Transactions. The sale will be treated as a stock sale for tax purposes and is expected to close in 2024, subject to clearance or approval under or by the Hart-Scott-Rodino Act, CFIUS, FCC and North Carolina Commission as well as other customary closing and regulatory conditions. In November 2023, the waiting period under the Hart-Scott-Rodino Act expired. Also in November 2023, Dominion Energy submitted its initial filing request for approval by CFIUS. In October 2023, Dominion Energy filed for approval from the North Carolina Commission. The proposed internal reorganization in connection with the PSNC Transaction is subject to approval by the North Carolina Commission. Dominion Energy filed for such approval in September 2023.

Upon closing, Dominion Energy will retain the entirety of the assets and obligations, including related income tax and other deferred balances, of the pension and other postretirement employee benefit plans associated with the operations included in the transaction and relating to services provided through closing. The PSNC Transaction is subject to termination by either party if not completed by September 2024, subject to a potential three-month extension for receipt of regulatory approvals, with a termination fee of $78 million due to Dominion Energy under certain conditions. Based on the recorded balances at September 30, 2023, Dominion Energy expects to recognize a pre-tax gain of approximately $130 million ($290 million after-tax loss) upon closing, including the write-off of $0.7 billion of goodwill which is not deductible for tax purposes but excluding the effects of final closing adjustments.

At the closing of the PSNC Transaction, Dominion Energy and Enbridge will enter into a transition services agreement pursuant to which Dominion Energy will continue to provide certain services to support the ongoing operations of PSNC for up to approximately two years. Enbridge has also agreed to provide certain services to Dominion Energy.

Sale of Questar Gas and Wexpro

In September 2023, Dominion Energy entered into an agreement with Enbridge for the Questar Gas Transaction, which includes the sale of Questar Gas, Wexpro and related affiliates and is valued at approximately $4.3 billion, consisting of a purchase price of approximately $3.0 billion in cash and approximately $1.3 billion of assumed indebtedness. The purchase price will be subject to customary post-closing adjustments, including adjustments for cash, indebtedness, net working capital, capital expenditures and net

21

regulatory assets and liabilities. Closing of the Questar Gas Transaction is not conditioned upon the closing of the East Ohio or PSNC Transactions. The sale will be treated as a stock sale for tax purposes and is expected to close in 2024, subject to clearance or approval under or by the Hart-Scott-Rodino Act, CFIUS, FCC and Utah and Wyoming Commissions as well as other customary closing and regulatory conditions. In November 2023, the waiting period under the Hart-Scott-Rodino Act expired. Also in November 2023, Dominion Energy submitted its initial filing request for approval by CFIUS. In October 2023, Dominion Energy filed for approvals from the Utah and Wyoming Commissions. In October 2023, Dominion Energy filed the notice with the Idaho Commission required for closing of the Questar Gas Transaction. The proposed internal reorganization in connection with the Questar Gas Transaction is subject to approval by the Utah and Wyoming Commissions. Dominion Energy filed for such approvals in September 2023 and received approval from the Utah Commission in November 2023.

Upon closing, Dominion Energy will retain the pension and other postretirement benefit plan assets and obligations, including related income tax and other deferred balances, associated with retiree participants of the sale entities in the Dominion Energy Pension Plan and the Dominion Energy Retiree Health and Welfare Plan. The Questar Gas Transaction is subject to termination by either party if not completed by September 2024, subject to a potential three-month extension for receipt of regulatory approvals, with a termination fee of $107 million due to Dominion Energy under certain conditions. Based on the recorded balances at September 30, 2023, Dominion Energy expects to recognize a pre-tax loss of approximately $10 million ($530 million after-tax loss) upon closing, including the write-off of $1.0 billion of goodwill which is not deductible for tax purposes but excluding the effects of final closing adjustments.

At the closing of the Questar Gas Transaction, Dominion Energy and Enbridge will enter into a transition services agreement pursuant to which Dominion Energy will continue to provide certain services to support the ongoing operations of Questar Gas and Wexpro for up to approximately two years. Enbridge has also agreed to provide certain services to Dominion Energy.

Other Sales

In August 2023, Dominion Energy entered into an agreement and completed the sale of Tredegar Solar Fund I, LLC to Spruce Power for cash consideration of $21 million. Dominion Energy recorded an impairment associated with these operations in the second quarter of 2023 as discussed in Note 8.

Financial Statement Information

The operations included in each of the East Ohio, PSNC and Questar Gas Transactions are presented as held for sale and discontinued operations within the Corporate and Other segment effective September 2023. In addition, operations associated with the other sales related to the comprehensive business review are also presented as discontinued operations within the Corporate and Other segment effective September 2023. As a result, the previously reported amounts have been recast to reflect this presentation and depreciation and amortization ceased on the applicable assets.

The following table represents selected information for each disposal group regarding the results of operations reported within discontinued operations in Dominion Energy's Consolidated Statements of Income:

	Three Months Ended June 30, 2023										Six Months Ended June 30, 2023
		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other			East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other
(millions)
Operating revenue		$	235	$	120	$	271	$	2		$	547	$	446	$	1,001	$	3
Operating expense			153		98		233		19			369		306		812		22
Other income (expense)			7		3		2		—			15		5		3		—
Interest and related charges			17		12		17		1			32		25		33		1
Income (loss) before income    taxes			72		13		23		(18	)		161		120		159		(20	)
Income tax expense (benefit)			6		2		3		(4	)		19		26		32		(5	)
Net income (loss) attributable    to Dominion Energy(1)		$	66	$	11	$	20	$	(14	)	$	142	$	94	$	127	$	(15	)

(1)Excludes $5 million and $(4) million of income tax expense (benefit) attributable to consolidated state and interim period tax allocation adjustments for the three and six months ended June 30, 2023, respectively.

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	Three Months Ended June 30, 2022									Six Months Ended June 30, 2022
		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other
(millions)
Operating revenue		$	222	$	111	$	213	$	1	$	532	$	446	$	732	$	3
Operating expense			145		88		170		1		363		312		558		3
Other income (expense)			7		1		—		—		14		3		—		—
Interest and related charges			6		10		10		—		9		19		20		—
Income (loss) before income    taxes			78		14		33		—		174		118		154		—
Income tax expense    (benefit)			10		2		5		—		24		25		31		—
Net income (loss) attributable    to Dominion Energy(1)		$	68	$	12	$	28	$	—	$	150	$	93	$	123	$	—

(1)Excludes $(9) million and $(13) million of income tax expense (benefit) attributable to consolidated state and interim period tax allocation adjustments for the three and six months ended June 30, 2022, respectively.

The carrying amount of major classes of assets and liabilities relating to the disposal groups, which are reported as held for sale in Dominion Energy's Consolidated Balance Sheets were as follows:

	At June 30, 2023								At December 31, 2022
	East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other
(millions)
Current assets(1)	$	403	$	230	$	728	$	30	$	544	$	381	$	803	$	1
Property, plant and equipment, net		5,174		2,659		4,094		—		5,012		2,591		3,984		47
Other deferred charges and other    assets, including goodwill(2) and    intangible assets		2,628		818		1,004		—		2,629		822		1,043		—
Current liabilities		359		120		223		9		634		151		612		1
Long-term debt		2,286		798		1,245				2,287		798		1,245		—
Other deferred credits and liabilities		1,423		695		1,097		—		1,435		689		1,087		9

(1)Includes cash and cash equivalents of $3 million and $6 million within the East Ohio Transaction, less than $1 million and less than $1 million within the PSNC Transaction and $26 million and $28 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively. Also includes regulatory assets of $93 million and $90 million within the East Ohio Transaction, $108 million and $95 million within the PSNC Transaction and $450 million and $273 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively.

(2)Includes goodwill of $1.5 billion, $673 million and $983 million at both June 30, 2023 and December 31, 2022 within the East Ohio, PSNC and Questar Gas Transactions, respectively. Also includes regulatory assets of $739 million and $751 million within the East Ohio Transaction, $89 million and $93 million within the PSNC Transaction and $(31) million and $(22) million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively.

(3)Includes regulatory liabilities of $57 million and $43 million within the East Ohio Transaction, $39 million and $11 million within the PSNC Transaction and $50 million and $144 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively.

(4)Includes regulatory liabilities of $730 million and $749 million within the East Ohio Transaction, $439 million and $436 million within the PSNC Transaction and $509 million and $506 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively.

Capital expenditures and significant noncash items relating to the disposal groups included the following:

	Six Months Ended June 30, 2023									Six Months Ended June 30, 2022
		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other
(millions)
Capital expenditures		$	215	$	99	$	177	$	—	$	192	$	68	$	210	$	—
Significant noncash items
Depreciation, depletion    and amortization			71		44		86		2		65		43		81		2
Accrued capital expenditures			48		19		32		—		28		16		35		—

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Disposition of Gas Transmission & Storage Operations

In December 2021, Dominion Energy completed the sale of the Q-Pipe Group to Southwest Gas, as discussed in Note 3 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. In the first quarter of 2022, Dominion Energy recognized a gain of $27 million ($20 million after-tax) in discontinued operations in its Consolidated Statements of Income associated with finalization of working capital adjustments.

Sale of Kewaunee

In May 2021, Dominion Energy entered into an agreement to sell 100% of the equity interests in Dominion Energy Kewaunee, Inc. to EnergySolutions, including the transfer of all decommissioning obligations associated with Kewaunee, which ceased operations in 2013. The sale closed in June 2022 following approval from the Wisconsin Commission in May 2022 and NRC approval of a requested license transfer in March 2022. The sale was treated as an asset sale for tax purposes and Dominion Energy retained the assets and obligations of the pension and other postretirement employee benefit plans. EnergySolutions is subject to the Wisconsin regulatory conditions agreed to by Dominion Energy upon its acquisition of Kewaunee, including the return of any excess decommissioning funds to WPSC and WP&L customers following completion of all decommissioning activities.

In the second quarter of 2022, Dominion Energy recorded a loss of $649 million ($513 million after-tax), recorded in losses (gains) on sales of assets in its Consolidated Statements of Income, primarily related to the difference between the nuclear decommissioning trust and AROs. Prior to its receipt, there had been uncertainty as to the timing of or ability to obtain approval from the Wisconsin Commission. Prior to closing, Dominion Energy withdrew $80 million from the nuclear decommissioning trust to recover certain spent nuclear fuel and other permitted costs.
 

Note 4. Operating Revenue

The Companies’ operating revenue consists of the following:

	Dominion Energy										Virginia Power
	Quarter-to-Date					Year-to-Date					Quarter-to-Date					Year-to-Date
Period Ended June 30,	2023		2022			2023		2022			2023		2022			2023		2022
(millions)
Regulated electric sales:
Residential	$	1,124	$	1,117		$	2,410	$	2,404		$	832	$	816		$	1,842	$	1,831
Commercial		1,147		1,089			2,217		1,987			917		874			1,783		1,591
Industrial		211		220			431		417			99		110			215		213
Government and other retail		232		297			476		569			213		281			442		539
Wholesale		36		68			80		115			22		31			51		63
Nonregulated electric sales		125		236			382		603			22		31			33		45
Regulated gas sales:
Residential		43		52			179		215
Commercial		28		40			81		105
Other		16		43			39		77
Regulated gas transportation and storage		5		14			9		24
Other regulated revenues		65		84			143		140			62		80			136		131
Other nonregulated revenues(1)(2)		48		43			85		75			22		16			33		22
Total operating revenue from contracts with customers		3,080		3,303			6,532		6,731			2,189		2,239			4,535		4,435
Other revenues(1)(3)		86		(244	)		517		(559	)		62		(64	)		100		(93	)
Total operating revenue	$	3,166	$	3,059		$	7,049	$	6,172		$	2,251	$	2,175		$	4,635	$	4,342

(1)See Note 19 for amounts attributable to affiliates.

(2)Sales of renewable energy credits were $24 million and $7 million for the three months ended June 30, 2023 and 2022, respectively, and $29 million and $11 million for the six months ended June 30, 2023 and 2022, respectively, at Dominion Energy and $19 million and less than $1 million for the three months ended June 30, 2023 and 2022, respectively, and $22 million and less than $1 million for the six months ended June 30, 2023 and 2022, respectively, at Virginia Power.

(3)Includes alternative revenue of $50 million and $19 million for the three months ended June 30, 2023 and 2022, respectively, and $77 million and $27 million for the six months ended June 30, 2023 and 2022, respectively, at both Dominion Energy and Virginia Power.

Neither Dominion Energy nor Virginia Power have any amounts for revenue to be recognized in the future on multi-year contracts in place at June 30, 2023.

At June 30, 2023 and December 31, 2022, Dominion Energy’s contract liability balances were $81 million and $51 million, respectively, and are recorded in other current liabilities and other deferred credits and other liabilities in its Consolidated Balance Sheets. At June 30, 2023 and December 31, 2022, Virginia Power’s contract liability balances were $74 million and $39 million,

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respectively, and are recorded in other current liabilities and other deferred credits and other liabilities in its Consolidated Balance Sheets.

The Companies recognize revenue as they fulfill their obligations to provide service to their customers. During the six months ended June 30, 2023 and 2022, Dominion Energy recognized revenue of $47 million and $42 million, respectively, from the beginning contract liability balances. During the six months ended June 30, 2023 and 2022, Virginia Power recognized $39 million and $33 million, respectively, from the beginning contract liability balances.

Note 5. Income Taxes

For continuing operations, including noncontrolling interests, the statutory U.S. federal income tax rate reconciles to the Companies’ effective income tax rate as follows:

	Dominion Energy						Virginia Power
Six Months Ended June 30,	2023			2022			2023			2022
U.S. statutory rate		21.0	%		21.0	%		21.0	%		21.0	%
Increases (reductions) resulting from:
Recognition of taxes - sale of    subsidiary stock		—			(24.1	)
State taxes, net of federal benefit		3.8			(2.8	)		4.6			4.4
Investment tax credits		(3.1	)		4.5			(0.3	)		(6.9	)
Production tax credits		(0.5	)		0.5			(0.8	)		(1.0	)
Reversal of excess deferred income    taxes		(2.0	)		4.2			(2.3	)		(3.9	)
Changes in state deferred taxes associated    with assets held for sale		—			(1.4	)
AFUDC - equity		(0.1	)		0.2			(0.1	)		(1.0	)
Other, net		(1.2	)		0.3			(0.5	)		0.6
Effective tax rate		17.9	%		2.4	%		21.6	%		13.2	%

In the first quarter of 2022, Dominion Energy entered into an agreement to sell 100% of the equity interests in Hope in a stock sale for income tax purposes. As of June 30, 2022, Dominion had established $90 million of deferred tax liabilities reflecting the excess of the financial reporting basis over the tax basis in Hope’s stock. These deferred taxes reversed upon closing of the sale in August 2022 and became a component of current income tax expense on the sale. See Note 3 to the Consolidated Financial Statements in Dominion Energy's Annual Report on Form 10-K for the year ended December 31, 2022 for additional information regarding the sale of Hope.

As of June 30, 2023, there have been no material changes in the Companies’ unrecognized tax benefits or possible changes that could reasonably be expected to occur during the next twelve months. See Note 5 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, for a discussion of these unrecognized tax benefits.

Discontinued operations

Income tax expense reflected in discontinued operations is $94 million and $132 million for the six months ended June 30, 2023 and 2022, respectively.

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Note 6. Earnings Per Share

The following table presents the calculation of Dominion Energy’s basic and diluted EPS:

	Quarter-to-Date						Year-to-Date
Period Ended June 30,	2023			2022			2023			2022
(millions, except EPS)
Net income (loss) attributable to Dominion Energy from    continuing operations	$	431		$	(665	)	$	1,147		$	(365	)
Preferred stock dividends (see Note 16)		(20	)		(25	)		(40	)		(52	)
Net income (loss) attributable to Dominion Energy from    continuing operations – Basic		411			(690	)		1,107			(417	)
Dilutive effect of 2019 Equity Units(1)(2)		—			—			—			—
Net income (loss) attributable to Dominion Energy from    continuing operations - Diluted	$	411		$	(690	)	$	1,107		$	(417	)
Net income (loss) attributable to Dominion Energy from    discontinued operations - Basic & Diluted	$	168		$	212		$	449		$	623
Average shares of common stock outstanding – Basic		836.0			818.4			835.6			814.5
Net effect of dilutive securities(1)(3)		0.2			—			0.3			—
Average shares of common stock outstanding – Diluted		836.2			818.4			835.9			814.5
EPS from continuing operations – Basic	$	0.49		$	(0.84	)	$	1.32		$	(0.51	)
EPS from discontinued operations – Basic		0.20			0.26			0.54			0.76
EPS attributable to Dominion Energy – Basic	$	0.69		$	(0.58	)	$	1.86		$	0.25
EPS from continuing operations – Diluted	$	0.49		$	(0.84	)	$	1.32		$	(0.51	)
EPS from discontinued operations – Diluted		0.20			0.26			0.54			0.76
EPS attributable to Dominion Energy – Diluted	$	0.69		$	(0.58	)	$	1.86		$	0.25

(1)As a result of a net loss for the three and six months ended June 30, 2022, any adjustments to earnings or shares would be considered antidilutive and are therefore excluded from the calculation of diluted EPS.

(2)Effective January 2022, diluted net income was no longer reduced by the Series A Preferred Stock dividends.

(3)Dilutive securities for the three and six months ended June 30, 2023 include stock potentially to be issued to satisfy the obligation under a settlement agreement with the SCDOR (applying the if converted method). See Note 17 for additional information.

The 2019 Equity Units, prior to settlement in June 2022, were a potentially dilutive instrument. See Note 19 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 and Note 16 in this report for additional information.

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Note 7. Accumulated Other Comprehensive Income (Loss)

Dominion Energy

The following table presents Dominion Energy’s changes in AOCI (net of tax) and reclassifications out of AOCI by component:

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Pension and other postretirement benefit costs(4)			Equity Method Investees(5)			Total
(millions)
Three Months Ended June 30, 2023
Beginning balance	$	(250	)	$	(26	)	$	(1,287	)	$	(2	)	$	(1,565	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		6			(1	)		—			—			5
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		10			—			—			—			10
Other income (expense)		—			(3	)		(16	)		—			(19	)
Total		10			(3	)		(16	)		—			(9	)
Income tax expense (benefit)		(2	)		1			4			—			3
Total, net of tax		8			(2	)		(12	)		—			(6	)
Net current period other comprehensive     income (loss)		14			(3	)		(12	)		—			(1	)
Ending balance	$	(236	)	$	(29	)	$	(1,299	)	$	(2	)	$	(1,566	)
Three Months Ended June 30, 2022
Beginning balance	$	(323	)	$	(22	)	$	(1,088	)	$	(3	)	$	(1,436	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		29			(27	)		2			—			4
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		14			—			—			—			14
Other income (expense)		—			12			22			—			34
Total		14			12			22			—			48
Income tax expense (benefit)		(3	)		(3	)		(6	)		—			(12	)
Total, net of tax		11			9			16			—			36
Net current period other comprehensive     income (loss)		40			(18	)		18			—			40
Ending balance	$	(283	)	$	(40	)	$	(1,070	)	$	(3	)	$	(1,396	)

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $79 million, $83 million, $94 million and $107 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

(3)Net of $9 million, $6 million, $14 million and $8 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

(4)Net of $453 million, $449 million, $376 million and $380 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

(5)Net of $— million, $— million, $1 million and $1 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

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	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Pension and other postretirement benefit costs(4)			Equity Method Investees(5)			Total
(millions)
Six Months Ended June 30, 2023
Beginning balance	$	(249	)	$	(44	)	$	(1,276	)	$	(3	)	$	(1,572	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		(3	)		16			—			1			14
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		21			—			—			—			21
Other income (expense)		—			(1	)		(31	)		—			(32	)
Total		21			(1	)		(31	)		—			(11	)
Income tax expense (benefit)		(5	)		—			8			—			3
Total, net of tax		16			(1	)		(23	)		—			(8	)
Net current period other comprehensive     income (loss)		13			15			(23	)		1			6
Ending balance	$	(236	)	$	(29	)	$	(1,299	)	$	(2	)	$	(1,566	)
Six Months Ended June 30, 2022
Beginning balance	$	(358	)	$	37		$	(1,133	)	$	(4	)	$	(1,458	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		54			(89	)		30			1			(4	)
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		28			—			—			—			28
Other income (expense)		—			16			45			—			61
Total		28			16			45			—			89
Income tax expense (benefit)		(7	)		(4	)		(12	)		—			(23	)
Total, net of tax		21			12			33			—			66
Net current period other comprehensive     income (loss)		75			(77	)		63			1			62
Ending balance	$	(283	)	$	(40	)	$	(1,070	)	$	(3	)	$	(1,396	)

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $79 million, $83 million, $94 million and $119 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

(3)Net of $9 million, $13 million, $14 million and $(10) million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

(4)Net of $453 million, $445 million, $376 million and $396 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

(5)Net of $— million, $1 million, $1 million and $1 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

28

Virginia Power

The following table presents Virginia Power’s changes in AOCI (net of tax) and reclassifications out of AOCI by component:

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Total
(millions)
Three Months Ended June 30, 2023
Beginning balance	$	7		$	(3	)	$	4
Other comprehensive income (loss) before     reclassifications: gains (losses)		6			(1	)		5
Amounts reclassified from AOCI: (gains) losses
Total		—			—			—
Income tax expense (benefit)		—			—			—
Total, net of tax		—			—			—
Net current period other comprehensive income (loss)		6			(1	)		5
Ending balance	$	13		$	(4	)	$	9
Three Months Ended June 30, 2022
Beginning balance	$	(25	)	$	(4	)	$	(29	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		25			(3	)		22
Amounts reclassified from AOCI: (gains) losses
Total		—			—			—
Income tax expense (benefit)		—			—			—
Total, net of tax		—			—			—
Net current period other comprehensive income (loss)		25			(3	)		22
Ending balance	$	—		$	(7	)	$	(7	)

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $(4) million, $(2) million, $— million and $9 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

(3)Net of $1 million, $1 million, $3 million and $1 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Total
(millions)
Six Months Ended June 30, 2023
Beginning balance	$	16		$	(7	)	$	9
Other comprehensive income (loss) before     reclassifications: gains (losses)		(3	)		3			—
Amounts reclassified from AOCI: (gains) losses
Total		—			—			—
Income tax expense (benefit)		—			—			—
Total, net of tax		—			—			—
Net current period other comprehensive income (loss)		(3	)		3			—
Ending balance	$	13		$	(4	)	$	9
Six Months Ended June 30, 2022
Beginning balance	$	(45	)	$	4		$	(41	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		44			(10	)		34
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		1			—			1
Other income (expense)		—			(1	)		(1	)
Total		1			(1	)		—
Income tax expense (benefit)		—			—			—
Total, net of tax		1			(1	)		—
Net current period other comprehensive income (loss)		45			(11	)		34
Ending balance	$	—		$	(7	)	$	(7	)

29

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $(4) million, $(5) million, $— million and $16 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

(3)Net of $1 million, $2 million, $3 million and $(2) million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

Note 8. Fair Value Measurements

The Companies’ fair value measurements are made in accordance with the policies discussed in Note 2 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. See Note 9 in this report for additional information about the Companies’ derivatives and hedge accounting activities.

The Companies enter into certain physical and financial forwards, futures and options, which are considered Level 3 as they have one or more inputs that are not observable and are significant to the valuation. The discounted cash flow method is used to value Level 3 physical and financial forwards and futures contracts. An option model is used to value Level 3 physical options. The discounted cash flow model for forwards and futures calculates mark-to-market valuations based on forward market prices, original transaction prices, volumes, risk-free rate of return and credit spreads. The option model calculates mark-to-market valuations using variations of the Black-Scholes option model. The inputs into the models are the forward market prices, implied price volatilities, risk-free rate of return, the option expiration dates, the option strike prices, the original sales prices and volumes. For Level 3 fair value measurements, certain forward market prices and implied price volatilities are considered unobservable.

The following table presents the Companies' quantitative information about Level 3 fair value measurements at June 30, 2023. The range and weighted average are presented in dollars for market price inputs and percentages for price volatility.

				Dominion Energy				Virginia Power
	Valuation Techniques	Unobservable Input		Fair Value (millions)		Range	Weighted Average(1)	Fair Value (millions)		Range	Weighted Average(1)
Assets
Physical and financial forwards:
Electricity	Discounted    cash flow	Market price    (per MWh)	(3)	$	141	25-138	47		—	—	—
Physical options:
Natural gas(2)	Option model	Market price    (per Dth)	(3)		15	1-8	4		15	1-8	4
		Price volatility	(4)			19%-72%	51%			19%-72%	51%
Total assets				$	156			$	15
Liabilities
Physical and financial forwards:
Natural gas(2)	Discounted    cash flow	Market price    (per Dth)	(3)	$	18	(2)-2	(1)	$	18	(2)-2	(1)
Electricity	Discounted    cash flow	Market price    (per MWh)	(3)		4	32-138	64		—	—	—
Total    liabilities				$	22			$	18

(1)Averages weighted by volume.

(2)Includes basis.

(3)Represents market prices beyond defined terms for Levels 1 and 2.

(4)Represents volatilities unrepresented in published markets.

Sensitivity of the fair value measurements to changes in the significant unobservable inputs is as follows:

Significant Unobservable Inputs	Position	Change to Input	Impact on Fair Value Measurement
Market price	Buy	Increase (decrease)	Gain (loss)
Market price	Sell	Increase (decrease)	Loss (gain)
Price volatility	Buy	Increase (decrease)	Gain (loss)
Price volatility	Sell	Increase (decrease)	Loss (gain)

30

Nonrecurring Fair Value Measurements

See Note 10 for information regarding nonrecurring fair value measurements associated with Dominion Energy’s noncontrolling ownership interest in Dominion Privatization.

In the first quarter of 2023, Dominion Energy recorded a charge of $91 million ($68 million after-tax) in impairment of assets and other charges in its Consolidated Statements of Income to adjust a corporate office building down to its estimated fair value, using a market approach, of $35 million. The valuation is considered a Level 3 fair value measurement as it is based on unobservable inputs due to limited comparable market activity. The corporate office building is reflected in the Corporate and Other segment and presented as held for sale in Dominion Energy’s Consolidated Balance Sheets at June 30, 2023.

In the second quarter of 2023, Dominion Energy recorded a charge of $15 million ($11 million after-tax) presented within discontinued operations in its Consolidated Statements of Income to adjust certain nonregulated solar assets down to their estimated fair value, using a market approach, of $22 million. The valuation is considered a Level 2 fair value measurement given that it is based on bids received. As discussed in Note 3, these assets were sold in August 2023.

31

Recurring Fair Value Measurements

The following table presents the Companies' assets and liabilities that are measured at fair value on a recurring basis for each hierarchy level, including both current and noncurrent portions:

	Dominion Energy								Virginia Power
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
(millions)
June 30, 2023
Assets
Derivatives:
Commodity	$	1	$	194	$	156	$	351	$	1	$	73	$	15	$	89
Interest rate		—		904		—		904		—		135		—		135
Investments(1):
Equity securities:
U.S.		4,354		—		—		4,354		2,317		—		—		2,317
Fixed income:
Corporate debt instruments		—		539		—		539		—		323		—		323
Government securities		170		1,144		—		1,314		90		619		—		709
Cash equivalents and other		27		—		—		27		1		—		—		1
Total assets	$	4,552	$	2,781	$	156	$	7,489	$	2,409	$	1,150	$	15	$	3,574
Liabilities
Derivatives:
Commodity	$	—	$	332	$	22	$	354	$	—	$	150	$	18	$	168
Interest rate		—		381		—		381		—		11		—		11
Foreign currency exchange rate		—		59		—		59		—		59		—		59
Total liabilities	$	—	$	772	$	22	$	794	$	—	$	220	$	18	$	238
December 31, 2022
Assets
Derivatives:
Commodity	$	—	$	332	$	437	$	769	$	—	$	32	$	236	$	268
Interest rate		—		1,407		—		1,407		—		614		—		614
Investments(1):
Equity securities:
U.S.		3,810		—		—		3,810		2,028		—		—		2,028
Fixed income:
Corporate debt instruments		—		576		—		576		—		360		—		360
Government securities		161		1,059		—		1,220		90		542		—		632
Total assets	$	3,971	$	3,374	$	437	$	7,782	$	2,118	$	1,548	$	236	$	3,902
Liabilities
Derivatives:
Commodity	$	—	$	911	$	15	$	926	$	—	$	333	$	15	$	348
Interest rate		—		377		—		377		—		7		—		7
Foreign currency exchange rate		—		101		—		101		—		101		—		101
Total liabilities	$	—	$	1,389	$	15	$	1,404	$	—	$	441	$	15	$	456

(1)Includes investments held in the nuclear decommissioning trusts and rabbi trusts. Excludes $375 million and $404 million of assets at Dominion Energy, inclusive of $152 million and $161 million at Virginia Power, at June 30, 2023 and December 31, 2022, respectively, measured at fair value using NAV (or its equivalent) as a practical expedient which are not required to be categorized in the fair value hierarchy.

32

The following table presents the net change in the Companies' assets and liabilities measured at fair value on a recurring basis and included in the Level 3 fair value category:

	Dominion Energy												Virginia Power
	Quarter-to-Date						Year-to-Date						Quarter-to-Date						Year-to-Date
Period Ended June 30,	2023			2022			2023			2022			2023			2022			2023			2022
(millions)
Beginning balance	$	206		$	202		$	422		$	222		$	55		$	22		$	221		$	102
Total realized and unrealized gains     (losses):
Included in earnings:
Operating revenue		2			—			2			—			—			—			—			—
Electric fuel and other energy- related purchases		(36	)		117			(87	)		165			(36	)		106			(88	)		151
Included in regulatory assets/     liabilities		(74	)		261			(290	)		241			(58	)		206			(224	)		126
Settlements		36			(117	)		71			(165	)		36			(106	)		72			(151	)
Purchases		—			17			16			17			—			17			16			17
Ending balance	$	134		$	480		$	134		$	480		$	(3	)	$	245		$	(3	)	$	245

Dominion Energy had $2 million of unrealized gains included in earnings in the Level 3 fair value category related to assets/liabilities still held at the reporting date for the three and six months ended June 30, 2023 and no unrealized gains or losses for the three and six months ended June 30, 2022. Virginia Power had no unrealized gains or losses for the three and six months ended June 30, 2023 and June 30, 2022.

Fair Value of Financial Instruments

Substantially all of the Companies’ financial instruments are recorded at fair value, with the exception of the instruments described below, which are reported at historical cost. Estimated fair values have been determined using available market information and valuation methodologies considered appropriate by management. The carrying amount of cash, restricted cash and equivalents, customer and other receivables, affiliated receivables, short-term debt, affiliated current borrowings, payables to affiliates and accounts payable are representative of fair value because of the short-term nature of these instruments. For the Companies' financial instruments that are not recorded at fair value, the carrying amounts and estimated fair values are as follows:

	Dominion Energy				Virginia Power
	Carrying Amount		Estimated Fair Value(1)		Carrying Amount		Estimated Fair Value(1)
(millions)
June 30, 2023
Long-term debt(2)	$	41,887	$	38,876	$	16,399	$	14,909
Supplemental credit facility borrowings		450		450
Junior subordinated notes(2)		1,387		1,349
December 31, 2022
Long-term debt(2)	$	39,680	$	36,426	$	15,616	$	14,067
Supplemental credit facility borrowings		450		450
Junior subordinated notes(2)		1,387		1,340

(1)Fair value is estimated using market prices, where available, and interest rates currently available for issuance of debt with similar terms and remaining maturities. All fair value measurements are classified as Level 2. The carrying amount of debt issuances with short-term maturities and variable rates refinanced at current market rates is a reasonable estimate of their fair value.

(2)Carrying amount includes current portions presented in securities due within one year and amounts which represent the unamortized debt issuance costs and discount or premium. Additionally, the Dominion Energy carrying amount includes portions classified as held for sale and presented in current liabilities held for sale and noncurrent liabilities held for sale.

Note 9. Derivatives and Hedge Accounting Activities

The Companies’ accounting policies, objectives and strategies for using derivative instruments are discussed in Note 2 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. See Note 8 in this report for additional information about fair value measurements and associated valuation methods for derivatives.

33

Cash collateral is used in the table below to offset derivative assets and liabilities. In February 2022, Dominion Energy entered into contracts representing offsetting positions to certain existing exchange contracts with collateral requirements as well as new over-the-counter transactions that are not subject to collateral requirements. These contracts resulted in positions which limit the risk of increased cash collateral requirements. Certain accounts receivable and accounts payable recognized on the Companies’ Consolidated Balance Sheets, letters of credit and other forms of securities, as well as certain other long-term debt, all of which are not included in the tables below, are subject to offset under master netting or similar arrangements and would reduce the net exposure. See Note 18 for additional information regarding credit-related contingent features for the Companies’ derivative instruments.

Balance Sheet Presentation

The tables below present the Companies' derivative asset and liability balances by type of financial instrument, if the gross amounts recognized in their Consolidated Balance Sheets were netted with derivative instruments and cash collateral received or paid:

	Dominion Energy Gross Amounts Not Offset in the Consolidated Balance Sheet								Virginia Power Gross Amounts Not Offset in the Consolidated Balance Sheet
	Gross Assets Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Received		Net Amounts		Gross Assets Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
June 30, 2023
Commodity contracts:
Over-the-counter	$	162	$	55	$	—	$	107	$	78	$	32	$	—	$	46
Exchange		55		55		—		—		10		10		—		—
Interest rate contracts:
Over-the-counter		904		214		—		690		135		2		—		133
Total derivatives,    subject to a    master netting    or similar    arrangement	$	1,121	$	324	$	—	$	797	$	223	$	44	$	—	$	179
December 31, 2022
Commodity contracts:
Over-the-counter	$	408	$	28	$	—	$	380	$	238	$	7	$	—	$	231
Exchange		160		159		—		1		—		—		—		—
Interest rate contracts:
Over-the-counter		1,407		248		—		1,159		614		38		—		576
Total derivatives,    subject to a    master netting    or similar    arrangement	$	1,975	$	435	$	—	$	1,540	$	852	$	45	$	—	$	807

(1)Excludes derivative assets of $134 million and $201 million at Dominion Energy and $1 million and $30 million at Virginia Power at June 30, 2023 and December 31, 2022, respectively, which are not subject to master netting or other similar arrangements.

34

	Dominion Energy Gross Amounts Not Offset in the Consolidated Balance Sheet								Virginia Power Gross Amounts Not Offset in the Consolidated Balance Sheet
	Gross Liabilities Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Paid		Net Amounts		Gross Liabilities Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
June 30, 2023
Commodity contracts:
Over-the-counter	$	209	$	55	$	—	$	154	$	67	$	32	$	—	$	35
Exchange		145		55		90		—		23		10		13		—
Interest rate contracts:
Over-the-counter		381		214		1		166		11		2		—		9
Foreign currency exchange rate contracts:
Over-the-counter		59		—		—		59		59		—		—		59
Total derivatives,    subject to a    master netting    or similar    arrangement	$	794	$	324	$	91	$	379	$	160	$	44	$	13	$	103
December 31, 2022
Commodity contracts:
Over-the-counter	$	443	$	34	$	71	$	338	$	146	$	13	$	71	$	62
Exchange		483		159		324		—		176		—		176		—
Interest rate contracts:
Over-the-counter		377		210		1		166		7		—		—		7
Foreign currency exchange rate contracts:
Over-the-counter		101		32		—		69		101		32		—		69
Total derivatives,    subject to a    master netting    or similar    arrangement	$	1,404	$	435	$	396	$	573	$	430	$	45	$	247	$	138

(1)Excludes derivative liabilities of $78 million and $26 million at Virginia Power at June 30, 2023 and December 31, 2022, respectively, which are not subject to master netting or similar arrangements. Dominion Energy did not have any derivative liabilities at June 30, 2023 and December 31, 2022 which were not subject to master netting or similar arrangements.

Volumes

The following table presents the volume of the Companies' derivative activity at June 30, 2023. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of its long and short positions.

	Dominion Energy				Virginia Power
	Current		Noncurrent		Current		Noncurrent
Natural Gas (bcf):
Fixed price(1)		43		14		40		14
Basis(2)		157		375		138		372
Electricity (MWh in millions):
Fixed price		17		44		8		13
Oil (Gal in millions)		6		—		6		—
Interest rate(3) (in millions)	$	524	$	11,758	$	125	$	2,750
Foreign currency exchange rate(3) (in millions)
Danish Krone	1,004 kr.		3,468 kr.		1,004 kr.		3,468 kr.
Euro	€453		€2,131		€453		€2,131

(1)Includes options at Dominion Energy.

(2)Includes options.

(3)Maturity is determined based on final settlement period.

35

AOCI

The following table presents selected information related to gains and losses on cash flow hedges included in AOCI in the Companies' Consolidated Balance Sheets at June 30, 2023:

	Dominion Energy							Virginia Power
	AOCI After-Tax			Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax			Maximum Term	AOCI After-Tax		Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax		Maximum Term
(millions)
Interest rate	$	(236	)	$	(33	)	390 months	$	13	$	—	390 months
Total	$	(236	)	$	(33	)		$	13	$	—

The amounts that will be reclassified from AOCI to earnings will generally be offset by the recognition of the hedged transactions (e.g., interest rate payments) in earnings, thereby achieving the realization of prices contemplated by the underlying risk management strategies and will vary from the expected amounts presented above as a result of changes in interest rates.

36

Fair Value and Gains and Losses on Derivative Instruments

The following table presents the fair values of the Companies' derivatives and where they are presented in their Consolidated Balance Sheets:

	Dominion Energy						Virginia Power
	Fair Value – Derivatives under Hedge Accounting		Fair Value – Derivatives not under Hedge Accounting		Total Fair Value		Fair Value – Derivatives under Hedge Accounting		Fair Value – Derivatives not under Hedge Accounting		Total Fair Value
(millions)
At June 30, 2023
ASSETS
Current Assets
Commodity	$	—	$	129	$	129	$	—	$	43	$	43
Interest rate		18		113		131		18		—		18
Total current derivative assets(1)		18		242		260		18		43		61
Noncurrent Assets
Commodity		—		222		222		—		46		46
Interest rate		117		656		773		117		—		117
Total noncurrent derivative assets(2)		117		878		995		117		46		163
Total derivative assets	$	135	$	1,120	$	1,255	$	135	$	89	$	224
LIABILITIES
Current Liabilities
Commodity	$	—	$	240	$	240	$	—	$	117	$	117
Interest rate		—		83		83		—		—		—
Foreign currency exchange rate		—		9		9		—		9		9
Total current derivative liabilities(3)		—		332		332		—		126		126
Noncurrent Liabilities
Commodity		—		114		114		—		51		51
Interest rate		11		287		298		11		—		11
Foreign currency exchange rate		—		50		50		—		50		50
Total noncurrent derivative liabilities(4)		11		451		462		11		101		112
Total derivative liabilities	$	11	$	783	$	794	$	11	$	227	$	238
At December 31, 2022
ASSETS
Current Assets
Commodity	$	—	$	532	$	532	$	—	$	264	$	264
Interest rate		501		104		605		501		—		501
Total current derivative assets(1)		501		636		1,137		501		264		765
Noncurrent Assets
Commodity		—		237		237		—		4		4
Interest rate		113		689		802		113		—		113
Total noncurrent derivative assets(2)		113		926		1,039		113		4		117
Total derivative assets	$	614	$	1,562	$	2,176	$	614	$	268	$	882
LIABILITIES
Current Liabilities
Commodity	$	—	$	700	$	700	$	—	$	290	$	290
Interest rate		—		70		70		—		—		—
Foreign currency exchange rate		—		8		8		—		8		8
Total current derivative liabilities(3)		—		778		778		—		298		298
Noncurrent Liabilities
Commodity		—		226		226		—		58		58
Interest rate		7		300		307		7		—		7
Foreign currency exchange rate		—		93		93		—		93		93
Total noncurrent derivative liabilities(4)		7		619		626		7		151		158
Total derivative liabilities	$	7	$	1,397	$	1,404	$	7	$	449	$	456

(1)Includes $2 million and $118 million recorded in current assets held for sale in Dominion Energy's Consolidated Balance Sheets at June 30, 2023 and December 31, 2022, respectively.

(2)Noncurrent derivative assets are presented in other deferred charges and other assets in the Companies’ Consolidated Balance Sheets, with the exception of $1 million recorded in noncurrent assets held for sale in Dominion Energy's Consolidated Balance Sheets at December 31, 2022.

(3)Includes $13 million and $6 million recorded in current liabilities held for sale in Dominion Energy's Consolidated Balance Sheets at June 30, 2023 and December 31, 2022, respectively.

37

(4)Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in the Companies' Consolidated Balance Sheets, with the exception of $1 million recorded in noncurrent liabilities held for sale in Dominion Energy's Consolidated Balance Sheets at both June 30, 2023 and December 31, 2022.

The following tables present the gains and losses on the Companies' derivatives, as well as where the associated activity is presented in their Consolidated Balance Sheets and Statements of Income.

	Dominion Energy									Virginia Power
Derivatives in    cash flow    hedging relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)			Amount of Gain (Loss) Recognized in AOCI on Derivatives(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)
(millions)
Three Months Ended June 30, 2023
Derivative type and location of gains (losses):
Interest rate(3)	$	8		$	(10	)	$	88		$	8		$	—		$	88
Total	$	8		$	(10	)	$	88		$	8		$	—		$	88
Three Months Ended June 30, 2022
Derivative type and location of gains (losses):
Interest rate(3)	$	39			(14	)	$	354		$	33		$	—		$	353
Total	$	39		$	(14	)	$	354		$	33		$	—		$	353
Six Months Ended June 30, 2023
Derivative type and location of gains (losses):
Interest rate(3)	$	(4	)	$	(21	)	$	(32	)	$	(4	)	$	—		$	(32	)
Total	$	(4	)	$	(21	)	$	(32	)	$	(4	)	$	—		$	(32	)
Six Months Ended June 30, 2022
Derivative type and location of gains (losses):
Interest rate(3)	$	72		$	(28	)	$	633		$	59		$	(1	)	$	632
Total	$	72		$	(28	)	$	633		$	59		$	(1	)	$	632

(1)Amounts deferred into AOCI have no associated effect in the Companies' Consolidated Statements of Income.

(2)Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in the Companies' Consolidated Statements of Income.

(3)Amounts recorded in the Companies' Consolidated Statement of Income are classified in interest and related charges.

	Amount of Gain (Loss) Recognized in Income on Derivatives(1)(2)
Derivatives not designated as hedging instruments	Dominion Energy												Virginia Power
	Quarter-to-Date						Year-to-Date						Quarter-to-Date						Year-to-Date
Period Ended June 30,	2023			2022			2023			2022			2023			2022			2023			2022
(millions)
Derivative type and location of gains (losses):
Commodity:
Operating revenue	$	26		$	(272	)	$	421		$	(602	)	$	10		$	(88	)	$	19		$	(129	)
Purchased gas		—			3			—			4
Electric fuel and other energy-related     purchases		(73	)		137			(118	)		196			(73	)		125			(119	)		182
Operations and maintenance		2			—			2			—			2			—			2			—
Discontinued operations		—			—			94			1
Interest rate:
Interest and related charges		29			273			(47	)		368
Discontinued operations		50			67			24			168
Total	$	34		$	208		$	376		$	135		$	(61	)	$	37		$	(98	)	$	53

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Note 10. Investments

Dominion Energy

Equity and Debt Securities

Short-Term Deposit

In May 2022, Dominion Energy entered into an agreement with a financial institution and committed to make a short-term deposit of at least $1.6 billion but not more than $2.0 billion to be posted as collateral to secure its $1.6 billion redemption obligation of the Series A Preferred Stock as described in Note 16. In May 2022, Dominion Energy funded the short-term deposit in the amount of $2.0 billion, which earned interest income at an annual rate of 1.75% through its maturity in September 2022.

Rabbi Trust Securities

Equity and fixed income securities and cash equivalents in Dominion Energy’s rabbi trusts and classified as trading totaled $113 million and $111 million at June 30, 2023 and December 31, 2022, respectively.

Decommissioning Trust Securities

The Companies hold equity and fixed income securities and cash equivalents, and Dominion Energy also holds insurance contracts, in nuclear decommissioning trust funds to fund future decommissioning costs for its nuclear plants. The Companies' decommissioning trust funds are summarized below:

	Dominion Energy												Virginia Power
	Amortized Cost		Total Unrealized Gains		Total Unrealized Losses				Allowance for Credit Losses		Fair Value		Amortized Cost		Total Unrealized Gains		Total Unrealized Losses				Allowance for Credit Losses		Fair Value
(millions)
June 30, 2023
Equity securities:(1)
U.S.	$	1,397	$	2,999	$	(22	)				$	4,374	$	872	$	1,562	$	(21	)				$	2,413
Fixed income securities:(2)
Corporate debt    instruments		577		1		(47	)		$	—		531		356		1		(34	)		$	—		323
Government    securities		1,332		5		(49	)			—		1,288		731		3		(25	)			—		709
Common/    collective    trust funds		71		—		—				—		71		54		—		—				—		54
Insurance contracts		236		—		—						236
Cash equivalents    and other(3)		53		—		—				—		53		9		—		—				—		9
Total	$	3,666	$	3,005	$	(118	)	(4)	$	—	$	6,553	$	2,022	$	1,566	$	(80	)	(4)	$	—	$	3,508
December 31, 2022
Equity securities:(1)
U.S.	$	1,378	$	2,501	$	(46	)				$	3,833	$	858	$	1,304	$	(35	)				$	2,127
Fixed income securities:(2)
Corporate debt    instruments		640		1		(65	)		$	—		576		406		1		(47	)		$	—		360
Government    securities		1,252		4		(70	)			—		1,186		664		2		(35	)			—		631
Common/    collective    trust funds		98		—		—				—		98		61		—		—				—		61
Insurance contracts		221		—		—						221
Cash equivalents    and other(3)		43		—		—				—		43		23		—		—				—		23
Total	$	3,632	$	2,506	$	(181	)	(4)	$	—	$	5,957	$	2,012	$	1,307	$	(117	)	(4)	$	—	$	3,202

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(1)Unrealized gains and losses on equity securities are included in other income (expense) and the nuclear decommissioning trust regulatory liability.

(2)Unrealized gains and losses on fixed income securities are included in AOCI and the nuclear decommissioning trust regulatory liability. Changes in allowance for credit losses are included in other income (expense).

(3)Dominion Energy includes pending sales of securities of $24 million and $42 million at June 30, 2023 and December 31, 2022, respectively. Virginia Power includes pending sales of securities of $9 million and $24 million at June 30, 2023, and December 31, 2022, respectively.

(4)Dominion Energy's fair value of securities in an unrealized loss position was $1.5 billion and $1.6 billion at June 30, 2023 and December 31, 2022, respectively. Virginia Power's fair value of securities in an unrealized loss position was $844 million and $946 million at June 30, 2023 and December 31, 2022, respectively.

The portion of unrealized gains and losses that relates to equity securities held within Dominion Energy and Virginia Power’s nuclear decommissioning trusts is summarized below:

	Dominion Energy										Virginia Power
	Quarter-to-Date					Year-to-Date					Quarter-to-Date					Year-to-Date
Period Ended June 30,	2023		2022			2023		2022			2023		2022			2023		2022
(millions)
Net gains (losses) recognized during    the period	$	294	$	(712	)	$	520	$	(918	)	$	153	$	(361	)	$	269	$	(463	)
Less: Net (gains) losses recognized    during the period on securities    sold during the period		1		6			3		5			2		—			3		(4	)
Unrealized gains (losses) recognized    during the period on securities still    held at period end(1)	$	295	$	(706	)	$	523	$	(913	)	$	155	$	(361	)	$	272	$	(467	)

(1)Included in other income (expense) and the nuclear decommissioning trust regulatory liability.

The fair value of Dominion Energy and Virginia Power’s fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds at June 30, 2023 by contractual maturity is as follows:

	Dominion Energy		Virginia Power
(millions)
Due in one year or less	$	91	$	59
Due after one year through five years		482		260
Due after five years through ten years		422		248
Due after ten years		895		519
Total	$	1,890	$	1,086

Presented below is selected information regarding Dominion Energy and Virginia Power’s equity and fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds.

	Dominion Energy								Virginia Power
	Quarter-to-Date				Year-to-Date				Quarter-to-Date				Year-to-Date
Period Ended June 30,	2023		2022		2023		2022		2023		2022		2023		2022
(millions)
Proceeds from sales	$	594	$	1,267	$	1,138	$	2,081	$	346	$	472	$	719	$	864
Realized gains(1)		22		75		43		115		8		10		25		26
Realized losses(1)		36		143		77		197		14		33		45		52

(1)Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.

Equity Method Investments

Dominion Energy recorded equity earnings on its investments of $3 million and $16 million for the six months ended June 30, 2023 and 2022, respectively, in other income (expense) in its Consolidated Statements of Income. In addition, Dominion Energy recorded equity earnings of $184 million and $143 million for the six months ended June 30, 2023 and 2022, respectively, in discontinued operations, including amounts primarily related to its investments in Cove Point and Atlantic Coast Pipeline discussed below. Dominion Energy received distributions of $185 million and $167 million for the six months ended June 30, 2023 and 2022,

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respectively. Dominion Energy made contributions of $48 million and $90 million for the six months ended June 30, 2023 and 2022, respectively. At June 30, 2023 and December 31, 2022, the net difference between the carrying amount of Dominion Energy’s investments and its share of underlying equity in net assets was $221 million and $223 million, respectively. At June 30, 2023, these differences are primarily comprised of $9 million of equity method goodwill that is not being amortized and a $212 million basis difference from Dominion Energy’s investment in Cove Point, which is being amortized over the useful lives of the underlying assets. At December 31, 2022, these differences are comprised of $9 million of equity method goodwill that is not being amortized, $215 million basis difference from Dominion Energy’s investment in Cove Point, which is being amortized over the useful lives of the underlying assets and a net $(1) million basis difference primarily attributable to capitalized interest.

Cove Point

Prior to the completion of the sale in September 2023 as discussed below, Dominion Energy held a 50% noncontrolling limited partnership interest in Cove Point which is accounted for as an equity method investment, as discussed in Note 9 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Dominion Energy recorded distributions from Cove Point of $95 million and $85 million for the three months ended June 30, 2023 and 2022, respectively, and $178 million and $161 million for the six months ended June 30, 2023 and 2022, respectively.

In June 2023, Dominion Energy entered into an agreement with Cove Point for transportation and storage services at market rates for a 20-year period commencing in August 2023.

In July 2023, Dominion Energy entered into an agreement to sell its 50% noncontrolling limited partnership interest in Cove Point to BHE for cash consideration of $3.3 billion which closed in September 2023 after all customary closing and regulatory conditions were satisfied, including clearance under the Hart-Scott-Rodino Act and approval from the DOE. The sale is treated as an asset sale for tax purposes. In addition, Dominion Energy received proceeds of $199 million from the settlement of related interest rate derivatives. In connection with closing, Dominion Energy utilized proceeds, as required, to repay DECP Holding's term loan secured by its noncontrolling interest in Cove Point, which had an outstanding balance of $2.2 billion, and $750 million of outstanding borrowings under Dominion Energy’s two $600 million 364-day term loan facilities entered in July 2023. See Note 16 for additional information on these facilities. Dominion Energy recorded a gain on the sale of its noncontrolling interest in Cove Point of $626 million ($348 million after-tax) within discontinued operations in its Consolidated Statements of Income.

In September 2023, as a result of Dominion Energy entering agreements for the East Ohio, PSNC and Questar Gas Transactions, Dominion Energy’s 50% noncontrolling limited partnership interest in Cove Point also met the requirements to be presented as discontinued operations and held for sale as both disposition activities were executed in connection with Dominion Energy’s comprehensive business review announced in November 2022. In addition, interest expense associated with DECP Holding's term loan secured by its noncontrolling interest in Cove Point and related interest rate derivatives have been classified as discontinued operations. As a result, the previously reported amounts have been recast to reflect this presentation.

Amounts presented within discontinued operations within Dominion Energy’s Consolidated Statements of Income for the three and six months ended June 30, 2023 include $90 million and $166 million of earnings on equity method investees, $(11) million and $51 million of interest expense (benefit) and $21 million and $24 million of income tax expense, respectively. Such amounts for the three and six months ended June 30, 2022 were $74 million and $147 million of earnings on equity method investees, $(49) million and $(140) million of interest expense (benefit) and $26 million and $61 million of income tax expense. Dominion Energy’s Consolidated Balance Sheets at both June 30, 2023 and December 31, 2022 include $2.7 billion within noncurrent assets held for sale for Dominion Energy’s 50% noncontrolling limited partnership interest in Cove Point.

Atlantic Coast Pipeline

A description of Dominion Energy’s investment in Atlantic Coast Pipeline, including events that led to the cancellation of the Atlantic Coast Pipeline Project in July 2020, is included in Note 9 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

At June 30, 2023 and December 31, 2022, Dominion Energy has recorded a liability of $52 million and $114 million, respectively, in other current liabilities in its Consolidated Balance Sheets as a result of its share of equity losses exceeding its investment which reflects Dominion Energy’s obligations on behalf of Atlantic Coast Pipeline related to its AROs.

Dominion Energy recorded $41 million of contributions to Atlantic Coast Pipeline during the six months ended June 30, 2023. Dominion Energy made no contributions to Atlantic Coast Pipeline during the six months ended June 30, 2022.

Dominion Energy expects to incur additional losses from Atlantic Coast Pipeline as it completes wind-down activities. While Dominion Energy is unable to precisely estimate the amounts to be incurred by Atlantic Coast Pipeline, the portion of such amounts attributable to Dominion Energy is not expected to be material to Dominion Energy’s results of operations, financial position or statement of cash flows.

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Wrangler

A description of Dominion Energy’s investment in Wrangler (through March 2022) is included in Note 9 to the Consolidated Financial Statements in Dominion Energy’s Annual Report on Form 10-K for the year ended December 31, 2022.

In March 2022, Dominion Energy sold its remaining 15% noncontrolling partnership interest in Wrangler to Interstate Gas Supply, Inc. for cash consideration of $85 million. Dominion Energy recognized a gain of $11 million ($8 million after-tax), included in other income (expense), in its Consolidated Statements of Income for the six months ended June 30, 2022.

Dominion Privatization

Dominion Energy holds a 50% noncontrolling ownership interest in Dominion Privatization which is accounted for as an equity method investment, as discussed in Note 9 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

In March 2022, Dominion Energy completed its initial contribution of privatization operations in South Carolina (excluding contracts held by DESC), Texas and Pennsylvania to Dominion Privatization for total consideration of $120 million, subject to customary closing adjustments, comprised of $60 million in cash proceeds and a 50% noncontrolling ownership interest in Dominion Privatization with an initial fair value of $60 million, estimated using the market approach. This was considered a Level 2 fair value measurement given that it was based on the agreed-upon sales price. In the first quarter of 2022, Dominion Energy recorded a gain of $23 million ($16 million after-tax), presented in losses (gains) on sales of assets in its Consolidated Statements of Income.

Note 11. Property, Plant and Equipment

Acquisitions of Nonregulated Solar Projects

Other than the item discussed below, there have been no significant updates to acquisitions of solar projects by the Companies from those discussed in Note 10 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

In March 2023, Dominion Energy entered into an agreement to acquire the Foxhound solar development project in Virginia (reflected in Contracted Energy) with closing on the agreement expected in 2024. The project is expected to cost approximately $205 million, including the initial acquisition cost, and commence commercial operations in 2024 with a generating capacity of 83 MW. Dominion Energy expects to claim production tax credits on the energy generated and sold by the project. Dominion Energy anticipates that an impairment charge may be required upon closing given its expectation that it is more likely than not that the nonregulated solar generation projects within Contracted Energy will be sold before the end of their useful lives as described in Note 10 to the Consolidated Financial Statements in Dominion Energy’s Annual Report on Form 10-K for the year ended December 31, 2022.

Sale of Utility Property

In June 2022, Dominion Energy completed the sale of certain utility property in South Carolina, as approved by the South Carolina Commission in May 2022, for total cash consideration of $16 million. In connection with the sale, Dominion Energy recognized a gain of $16 million ($12 million after-tax), recorded in losses (gains) on sales of assets, in its Consolidated Statements of Income for the three and six months ended June 30, 2022.

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Note 12. Regulatory Assets and Liabilities

Regulatory assets and liabilities include the following:

	Dominion Energy				Virginia Power
	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
(millions)
Regulatory assets:
Deferred cost of fuel used in electric generation(1)	$	401	$	603	$	50	$	133
Deferred rider costs for Virginia electric utility(2)		57		152		57		152
Ash pond and landfill closure costs(3)		181		221		181		221
Deferred nuclear refueling outage costs(4)		84		83		82		83
NND Project costs(5)		138		138
Deferred early plant retirement charges(6)		113		226		113		226
Derivatives(7)		84		256		81		251
Other		236		204		63		74
Regulatory assets-current		1,294		1,883		627		1,140
Unrecognized pension and other postretirement benefit costs(8)		873		891		—		4
Deferred rider costs for Virginia electric utility(2)		610		363		610		363
Interest rate hedges(9)		169		169		—		—
AROs and related funding(10)		384		380
NND Project costs(5)		2,018		2,088
Ash pond and landfill closure costs(3)		2,024		2,051		2,021		2,049
Deferred cost of fuel used in electric generation(1)		1,310		1,551		1,310		1,551
Derivatives(7)		183		254		79		148
Other		494		518		131		132
Regulatory assets-noncurrent		8,065		8,265		4,151		4,247
Total regulatory assets	$	9,359	$	10,148	$	4,778	$	5,387
Regulatory liabilities:
Provision for future cost of removal and AROs(11)		111		111		111		111
Reserve for refunds and rate credits to electric utility customers(12)		102		125		10		25
Income taxes refundable through future rates(13)		99		100		65		65
Monetization of guarantee settlement(14)		67		67
Derivatives(7)		12		211		—		176
Other		46		134		45		129
Regulatory liabilities-current		437		748		231		506
Income taxes refundable through future rates(13)		3,126		3,169		2,243		2,272
Provision for future cost of removal and AROs(11)		1,771		1,731		1,164		1,135
Nuclear decommissioning trust(15)		1,936		1,685		1,936		1,685
Monetization of guarantee settlement(14)		669		702
Interest rate hedges(9)		196		240		196		240
Reserve for refunds and rate credits to electric utility customers(12)		274		325		—		—
Overrecovered other postretirement benefit costs(16)		152		140
Derivatives(7)		189		234		—		—
Other		263		191		260		167
Regulatory liabilities-noncurrent		8,576		8,417		5,799		5,499
Total regulatory liabilities	$	9,013	$	9,165	$	6,030	$	6,005

(1)Reflects deferred fuel expenses for the Virginia and North Carolina jurisdictions of Virginia Power's electric generation operations and additionally for Dominion Energy, deferred fuel expenses for the South Carolina jurisdiction of its electric generation operations.

(2)Reflects deferrals under Virginia Power’s electric transmission FERC formula rate and the deferral of costs associated with certain current and prospective rider projects. In the second quarter of 2023, Virginia Power recorded a charge of $36 million ($27 million after-tax), included in impairment of assets and other charges in its Consolidated Statements of Income, for the write-off of certain previously deferred amounts related to Riders R, S and W in connection with the cessation of such riders effective July 2023. See Note 13 for additional information.

(3)Primarily reflects legislation in Virginia which requires any CCR asset located at certain Virginia Power stations to be closed by removing the CCR to an approved landfill or through beneficial reuse. These deferred costs are expected to be collected over a period between 15 and 18

43

years commencing December 2021 through Rider CCR. Virginia Power is entitled to collect carrying costs on uncollected expenditures once expenditures have been made.

(4)Legislation in Virginia requires Virginia Power to defer operation and maintenance costs incurred in connection with the refueling of any nuclear-powered generating plant. These deferred costs will be amortized over the refueling cycle, not to exceed 18 months.

(5)Reflects expenditures by DESC associated with the NND Project, which pursuant to the SCANA Merger Approval Order, will be recovered from DESC electric service customers over a 20-year period ending in 2039.

(6)Reflects amounts from the early retirements of certain coal- and oil-fired generating units to be amortized through 2023 in accordance with the settlement of the 2021 Triennial Review. See Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 for additional information.

(7)Represents changes in the fair value of derivatives, excluding separately presented interest rate hedges, that following settlement are expected to be recovered from or refunded to customers.

(8)Represents unrecognized pension and other postretirement employee benefit costs expected to be recovered or refunded through future rates generally over the expected remaining service period of plan participants by certain of Dominion Energy's rate-regulated subsidiaries. Includes $314 million and $302 million of regulatory assets in aggregate at June 30, 2023 and December 31, 2022, respectively, related to retained pension and other postretirement benefit plan assets and obligations for the East Ohio, PSNC and Questar Gas Transactions which will be reclassified to AOCI upon closing of each transaction.

(9)Reflects interest rate hedges recoverable from or refundable to customers. Certain of these instruments are settled and any related payments are being amortized into interest expense over the life of the related debt, which has a weighted-average useful life of approximately 25 years and 24 years for Dominion Energy and Virginia Power, respectively, as of June 30, 2023.

(10)Represents uncollected costs, including deferred depreciation and accretion expense, related to legal obligations associated with the future retirement of generation, transmission and distribution properties. The AROs primarily relate to DESC’s electric generating facilities, including Summer, and are expected to be recovered over the related property lives and periods of decommissioning which may range up to approximately 105 years.

(11)Rates charged to customers by Dominion Energy and Virginia Power's regulated businesses include a provision for the cost of future activities to remove assets that are expected to be incurred at the time of retirement.

(12)Reflects amounts previously collected from retail electric customers of DESC for the NND Project to be credited over an estimated 11-year period effective February 2019, in connection with the SCANA Merger Approval Order. Also reflects amounts to be refunded to jurisdictional retail electric customers in Virginia associated with the settlement of the 2021 Triennial Review. See Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 for additional information.

(13)Amounts recorded to pass the effect of reduced income taxes from the 2017 Tax Reform Act to customers in future periods, which will primarily reverse at the weighted average tax rate that was used to build the reserves over the remaining book life of the property, net of amounts to be recovered through future rates to pay income taxes that become payable when rate revenue is provided to recover AFUDC equity.

(14)Reflects amounts to be refunded to DESC electric service customers over a 20-year period ending in 2039 associated with the monetization of a bankruptcy settlement agreement.

(15)Primarily reflects a regulatory liability representing amounts collected from Virginia jurisdictional customers and placed in external trusts (including income, losses and changes in fair value thereon, as applicable) for the future decommissioning of Virginia Power's utility nuclear generation stations, in excess of the related AROs.

(16)Reflects a regulatory liability for the collection of postretirement benefit costs allowed in rates in excess of expense incurred.

At June 30, 2023, Dominion Energy and Virginia Power regulatory assets include $4.4 billion and $2.7 billion, respectively, on which they do not expect to earn a return during the applicable recovery period. With the exception of certain items discussed above, the majority of these expenditures are expected to be recovered within the next two years.

Note 13. Regulatory Matters

Regulatory Matters Involving Potential Loss Contingencies

As a result of issues generated in the ordinary course of business, the Companies are involved in various regulatory matters. Certain regulatory matters may ultimately result in a loss; however, as such matters are in an initial procedural phase, involve uncertainty as to the outcome of pending reviews or orders, and/or involve significant factual issues that need to be resolved, it is not possible for the Companies to estimate a range of possible loss. For regulatory matters that the Companies cannot estimate, a statement to this effect is made in the description of the matter. Other matters may have progressed sufficiently through the regulatory process such that the Companies are able to estimate a range of possible loss. For regulatory matters that the Companies are able to reasonably estimate a range of possible losses, an estimated range of possible loss is provided, in excess of the accrued liability (if any) for such matters. Any estimated range is based on currently available information, involves elements of judgment and significant uncertainties and may not represent the Companies’ maximum possible loss exposure. The circumstances of such regulatory matters will change from time to time and actual results may vary significantly from the current estimate. For current matters not specifically reported below, management does not anticipate that the outcome from such matters would have a material effect on the Companies’ financial position, liquidity or results of operations.

Other Regulatory Matters

Other than the following matters, there have been no significant developments regarding the pending regulatory matters disclosed in Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

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Virginia Regulation - Key Legislation Affecting Operations

Virginia 2023 Legislation

In April 2023, legislation was enacted that amended several key provisions of the Regulation Act, as previously amended by the GTSA, and revised portions of the existing regulatory framework affecting Virginia Power’s operations. See Note 13 to the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, for additional information on the Regulation Act and GTSA.

The legislation resets the frequency of base rate reviews from a triennial period, as established under the GTSA, to a biennial period commencing with the 2023 Biennial Review. Such biennial reviews shall include the establishment of an authorized ROE to be utilized for base rates and riders, prospective base rates for the upcoming two-year period based on projected cost of service and a determination by the Virginia Commission as to Virginia Power’s base rate earned return for the most recently completed two-year period against the previously authorized ROE, including any potential credits to customers’ bills.

The legislation provides that the Virginia Commission will establish an authorized ROE of 9.70% for Virginia Power in the 2023 Biennial Review, reflecting the average authorized ROE of vertically integrated electric utilities by the applicable regulatory commissions in the peer group jurisdictions of Florida, Georgia, Texas, Tennessee, West Virginia, Kentucky and North Carolina. Subsequent to the 2023 Biennial Review, all provisions related to this peer group benchmarking expire and the Virginia Commission is authorized to utilize any methodology it deems to be consistent with the public interest to make future ROE determinations. In all future biennial reviews, if the Virginia Commission determines that Virginia Power’s existing base rates will, on a going-forward basis, produce revenues that are either in excess of or below its authorized rate of return, the Virginia Commission is authorized to reduce or increase such base rates, as applicable and necessary, to ensure that Virginia Power’s base rates are just and reasonable while still allowing Virginia Power to recover its costs and earn a fair rate of return. In addition, beginning with the biennial review to be filed in 2025, the Virginia Commission may, at its discretion, increase or decrease Virginia Power’s authorized ROE by up to 50 basis points based on factors that may include reliability, generating plant performance, customer service and operating efficiency, with the provisions applying to such adjustments to be determined in a future proceeding.

The legislation directs that if the Virginia Commission determines as part of the 2023 Biennial Review that Virginia Power has earned more than 70 basis points above its authorized ROE of 9.35% established in the 2021 Triennial Review that 85% of the amount of such earnings above this level be credited to customers’ bills. In future biennial reviews, beginning with the biennial review to be filed in 2025, 85% of any earnings determined by the Virginia Commission to be up to 150 basis points above Virginia Power’s authorized ROE shall be credited to customers’ bills as well as 100% of any earnings that are more than 150 basis points above Virginia Power’s authorized ROE. For the purposes of measuring any bill credits due to customers, associated income taxes are factored into the determination of such amounts. In addition, the legislation eliminates Virginia Power’s ability to utilize Virginia Commission-approved investment amounts in qualifying solar or wind generation facilities or electric distribution grid transformation projects as a CCRO to reduce or offset any earnings otherwise eligible for customer credits as previously permitted under the GTSA.

In addition to the biennial review mechanisms discussed above, the legislation also includes provisions related to other aspects of Virginia Power’s ratemaking framework.

•Riders into base rates: Virginia Power is required to combine certain riders with an aggregate annual revenue requirement of at least $350 million with its base rates effective July 2023. After such riders are combined, they will be considered as part of base rates for the purposes of the biennial review proceedings. The inclusion of such riders cannot serve as the basis for an increase in base rates as part of the 2023 Biennial Review.

•Rider consolidation: Upon determination by the Virginia Commission, certain riders, while remaining separate from base rates, may be consolidated for cost recovery and review purposes.

•Capitalization ratio: The legislation establishes that Virginia Power is required to undertake reasonable efforts to maintain a common equity capitalization to total capitalization ratio through December 2024 of 52.10%.

•Fuel cost securitization: Virginia Power is authorized, on or before July 2024, to petition the Virginia Commission for approval of a financing order for certain deferred fuel costs. Virginia Power is required to permit certain retail customers to opt out of any such deferred fuel cost securitization.

•Electric generation plant retirements: The Virginia Commission shall provide to the Virginia General Assembly, on an annual basis, a report that includes information concerning the reliability impacts of generation unit additions and retirement determinations, along with the potential impact on the purchase of power from generation assets outside of the Virginia jurisdiction, the result of which could impact the depreciable lives of Virginia Power’s electric generation facilities in future periods.

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In addition, in May 2023 legislation was enacted that amended certain portions of the VCEA to qualify generation produced by Virginia Power’s biomass electric generating stations as renewable energy and eliminate the mandated retirement of such facilities by the end of 2028.

Virginia Regulation - Recent Developments

2023 Biennial Review

In July 2023, Virginia Power filed its base rate case and accompanying schedules in support of the 2023 Biennial Review in accordance with legislation enacted in Virginia in April 2023 as discussed above. Virginia Power’s earnings test analysis, as filed, demonstrated it earned a combined ROE of 9.04% on its generation and distribution services for the test period, within 70 basis points of its authorized ROE of 9.35% established in the 2021 Triennial Review. Virginia Power did not request an increase in base rates for generation and distribution services and proposed that base rates remain at their existing level utilizing an ROE of 9.70% for the prospective test periods and a common equity capitalization to total capitalization ratio of 52.10%. Virginia Power noted that while its prospective test periods would result in a revenue deficiency, it did not request an increase to base rates given that the combination of certain riders with an aggregate annual revenue requirement of at least $350 million into base rates effective July 2023 cannot serve as the basis for an increase in base rates as part of the 2023 Biennial Review. The Virginia Commission will determine whether Virginia Power’s earnings for the test period, considered as a whole, were within 70 basis points above or below the authorized ROE of 9.35%. The Virginia Commission will also authorize an ROE of 9.70%, as directed by legislation enacted in Virginia in April 2023, for Virginia Power that will be applied to Virginia Power’s riders prospectively and that will also be utilized to measure base rate earnings for the 2025 Biennial Review. This matter is pending.

Virginia Fuel Expenses

In May 2023, Virginia Power filed its annual fuel factor filing with the Virginia Commission to recover an estimated $2.3 billion in Virginia jurisdictional projected fuel expense for the rate year beginning July 1, 2023 and a projected $1.3 billion under-recovered balance as of June 30, 2023. The projected under-recovered balance includes $578 million representing the remaining two years of under-recovered balance as of June 30, 2022 being collected over a three-year period in accordance with the Virginia Commission’s approval of Virginia Power’s 2022 annual fuel factor as described in Note 13 to the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. Virginia Power proposed two alternatives to recover these under-collected fuel costs. The first option reflects recovery of the total $3.3 billion fuel cost requirement over the July 2023 through June 2024 fuel period and results in an increase in Virginia Power’s fuel revenues of $631 million when applied to projected kilowatt-hour sales for the period. The second option proposed by Virginia Power incorporates its anticipated July 2023 application to the Virginia Commission for approval of a financing order to securitize up to the projected $1.3 billion under-recovered balance as of June 30, 2023 as permitted under legislation enacted in Virginia in April 2023. Under this option, Virginia Power proposed implementation of the current period fuel factor rate only effective July 2023 on an interim basis, while suspending implementation of the prior-period fuel factor rate pending the Virginia Commission’s consideration of the securitization petition. If approved by the Virginia Commission, the securitization option results in a net decrease in Virginia Power’s fuel revenues for the rate year of approximately $541 million. In addition, Virginia Power has proposed to alter the order in which revenue from certain customers who elect to pay market-based rates would be allocated between base rates and fuel, which if approved would result in a reduction to fuel revenue of $13 million. In May 2023, the Virginia Commission ordered that, in accordance with Virginia Power’s second proposed option, only the current period fuel factor rate be implemented effective July 2023 on an interim basis. In accordance with legislation enacted in Virginia in April 2023 discussed above, in July 2023, Virginia Power filed an application with the Virginia Commission for approval of a financing order to securitize the projected $1.3 billion under-recovered fuel balance as of June 30, 2023 through the issuance of one or more tranches of bonds with tenors up to approximately ten years. These matters are pending.

Virginia Power Equity Application

In July 2023, Virginia Power requested approval from the Virginia Commission to issue and sell to Dominion Energy up to $3.25 billion of authorized but unissued shares of its common stock, no par value, through the end of 2023 in order to maintain a common equity capitalization to total capitalization ratio of 52.10% through December 2024 in accordance with legislation enacted in Virginia in April 2023 as discussed above. This matter is pending.

GTSA Filing

In March 2023, Virginia Power filed a petition with the Virginia Commission for approval of Phase III, covering 2024 through 2026, of its plan for electric distribution grid transformation projects as authorized by the GTSA. The plan includes 14 projects covering six components (i) AMI; (ii) customer information platform; (iii) grid improvement projects; (iv) physical and cyber security; (v) telecommunications infrastructure and (vi) customer education. For Phase III, the total proposed capital investment is $1.1 billion and the proposed operations and maintenance investment is $71 million. This matter is pending.

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Renewable Generation Projects

In October 2022, Virginia Power filed a petition with the Virginia Commission for CPCNs to construct and operate eight utility-scale projects totaling approximately 474 MW of solar generation and 16 MW of energy storage as part of its efforts to meet the renewable generation development requirements under the VCEA. The projects, as of October 2022, are expected to cost approximately $1.2 billion in the aggregate, excluding financing costs, and be placed into service between 2024 through 2025. In April 2023, the Virginia Commission approved the petition.

Riders

Developments for significant riders associated with various Virginia Power projects are as follows:

Rider Name	Application Date	Approval Date	Rate Year Beginning	Total Revenue Requirement (millions)				Increase (Decrease) Over Previous Year (millions)
Rider CCR	February 2023	Pending	December 2023	$	194			$	(37	)
Rider CE(1)	October 2022	April 2023	May 2023		89				18
Rider GT	August 2022	April 2023	June 2023		14				(42	)
Rider GT	August 2023	Pending	June 2024		145				131
Rider GV(2)	June 2023	Pending	April 2024		132				5
Rider GV(2)	June 2023	Pending	April 2025		135				3
Rider OSW	November 2022	July 2023	September 2023		271				192
Rider PPA	December 2022	July 2023	September 2023		(22	)			(17	)
Rider R	June 2021	March 2022	April 2023		55		(8)		(4	)
Rider RGGI(3)	December 2022	July 2023	September 2023		356			N/A
Rider RPS	December 2022	July 2023	September 2023		96				(44	)
Rider S	June 2021	February 2022	April 2023		191		(8)		(1	)
Rider SNA(4)	October 2022	June 2023	September 2023		50				(57	)
Rider T1(5)	May 2023	July 2023	September 2023		879				173
Rider U(6)	June 2022	February 2023	April 2023		74				(21	)
Rider US-3	August 2022	April 2023	June 2023		40				(10	)
Rider US-3	August 2023	Pending	June 2024		37				(3	)
Rider US-4	August 2022	April 2023	June 2023		16				1
Rider US-4	August 2023	Pending	June 2024		14				(2	)
Rider W(7)	June 2022	February 2023	April 2023		105		(8)		(16	)

(1)Associated with solar generation and energy storage projects requested for approval in October 2022 and certain small-scale solar projects in addition to previously approved Rider CE projects.

(2)The total revenue requirement requested is based on an estimated retirement of Greensville County in 2058, consistent with the current estimated useful life of the facility. Virginia Power also provided an alternative approach based on an estimated retirement of Greensville County in 2045, which if utilized would result in a revenue requirement of $144 million and $148 million for rate years beginning April 2024 and April 2025, respectively.

(3)In December 2022, Virginia Power filed a petition to update and reinstate Rider RGGI to recover RGGI compliance costs incurred after July 2022 and those projected to occur through December 2023, with rate recovery from September 2023 through August 2024. For purposes of this proceeding, Virginia Power has assumed that Virginia will withdraw from RGGI on December 31, 2023, and accordingly did not project any RGGI compliance costs to be incurred after that date.

(4)Virginia Power requested approval of cost recovery of approximately $1.2 billion through Rider SNA for the first phase of nuclear life extension program which includes investments through 2024. In April 2022, Virginia Power, the Virginia Commission staff and certain interested parties filed a proposed stipulation recommending that costs incurred after February 2022 associated with the first phase of the nuclear life extension program for North Anna be deferred and requested for recovery in a subsequent Rider SNA filing.

(5)Consists of $510 million for the transmission component of Virginia Power's base rates and $369 million for Rider T1.

(6)Consists of previously approved phases of Rider U.

(7)In February 2023, the Virginia Commission also approved Virginia Power's requested revenue requirement for the rate year beginning April 2024. However, as Virginia Power provided notification in May 2023 to combine Rider W into base rates as discussed above, Rider W ceased to be separately collected effective July 2023.

(8)In May 2023, Virginia Power filed a notification with the Virginia Commission to combine Riders R, S and W, which have an aggregate revenue requirement of $351 million, into base rates effective July 2023 in accordance with legislation enacted in Virginia in April 2023.

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Electric Transmission Projects

Developments for significant Virginia Power electric transmission projects approved or applied for are as follows:

Description and Location of Project	Application Date	Approval Date	Type of Line	Miles of Lines	Cost Estimate (millions)
Partial rebuild of Bristers-Ox 115 kV line in   Fauquier and Prince William Counties, Virginia	August 2022	April 2023	230 kV	15	$	40
Construct new switching station, substations,   transmission lines and related projects in Lunenberg   and Mecklenburg Counties, Virginia	October 2022	June 2023	230 kV	18		230
Construct new switching station, substation,   transmission lines and related projects in Charlotte,   Halifax and Mecklenburg Counties, Virginia	October 2022	May 2023	230 kV	26		215
Construct new Mars and Wishing Star substations,   transmission lines and related projects in Loudoun   County, Virginia	October 2022	April 2023	500/230 kV	4		720
Construct new Altair switching station, transmission   lines and related projects in Loudoun County, Virginia	November 2022	June 2023	230 kV	2		50
Rebuild of Lines #2019 and #2007 in the City of   Virginia Beach, Virginia	February 2023	Pending	230 kV	5		95
Install transformer at Possum Point substation,   rebuild and construct transmission lines and   related projects in Prince William County, Virginia	March 2023	Pending	230 kV	2		35
Partial rebuild of Line #2011 in the Cities of   Manassas and Manassas Park, Virginia and   Prince William and Fairfax Counties, Virginia	March 2023	Pending	230 kV	7		35
Construct new transmission lines and convert Jeffress   switching station in Mecklenburg County, Virginia	May 2023	Pending	230 kV	18		135
Construct new transmission lines and expand White   Oak substation in Henrico County, Virginia	June 2023	Pending	230 kV	5		45

Virginia Regulation – Select Prior Year Events

The following items were disclosed in Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 and are included in this report as they had an impact to the Companies’ Consolidated Statements of Income for the three and/or six months ended June 30, 2022.

Virginia Fuel Expenses

In May 2022, Virginia Power filed its annual fuel factor filing with the Virginia Commission to recover an estimated $2.3 billion in Virginia jurisdictional projected fuel expense for the rate year beginning July 1, 2022 and a projected $1.0 billion under-recovered balance as of June 30, 2022. In July 2022, Virginia Power, the Virginia Commission staff and another party filed a comprehensive settlement agreement, approved by the Virginia Commission in September 2022, which provided for the collection of the requested under-recovered projected fuel expense over a three-year period beginning July 1, 2022 and required that Virginia Power exclude from recovery through base rates one half of the related financing costs over the three year period. In addition, the settlement agreement affirmed Virginia Power’s proposal regarding fuel cost recovery for market-based customers. As a result, Virginia Power recorded a $191 million ($142 million after-tax) charge in the second quarter of 2022 within impairment of assets and other charges in its Consolidated Statements of Income. See Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 for additional information.

Rider RGGI

In May 2022, Virginia Power filed a petition with the Virginia Commission requesting suspension of Rider RGGI approved in August 2021. Virginia Power also requested that RGGI compliance costs incurred and unrecovered through July 2022 be recovered through existing base rates in effect during the period incurred. The Virginia Commission approved the request in June 2022. In the second quarter of 2022, Virginia Power recorded a charge of $180 million ($134 million after-tax) in impairment of assets and other charges for the amount deemed recovered through base rates through June 30, 2022, including the impact of certain non-jurisdictional customers which follow Virginia Power’s jurisdictional rate methodology. See Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 for additional information.

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North Carolina Regulation

PSNC Rider D

Rider D allows PSNC to recover from customers all prudently incurred gas costs and the related portion of uncollectible expenses as well as losses on negotiated gas and transportation sales. In February 2023, PSNC submitted a filing with the North Carolina Commission for a $56 million gas cost decrease with rates effective March 2023. The North Carolina Commission approved the filing in March 2023.

PSNC Customer Usage Tracker

PSNC utilizes a customer usage tracker, a decoupling mechanism, which allows it to adjust its base rates semi-annually for residential and commercial customers based on average per customer consumption. In March 2023, PSNC submitted a filing with the North Carolina Commission for a $23 million decrease relating to the customer usage tracker. The North Carolina Commission approved the filing in March 2023 with rates effective April 2023.

South Carolina Regulation

DSM Programs

DESC has approval for a DSM rider through which it recovers expenditures related to its DSM programs. In January 2023, DESC filed an application with the South Carolina Commission seeking approval to recover $46 million of costs and net lost revenues associated with these programs, along with an incentive to invest in such programs. DESC requested that rates be effective with the first billing cycle of May 2023. In April 2023, the South Carolina Commission approved the request, effective with the first billing cycle of May 2023.

Cost of Fuel

DESC's retail electric rates include a cost of fuel component approved by the South Carolina Commission which may be adjusted periodically to reflect changes in the price of fuel purchased by DESC. In February 2023, DESC filed with the South Carolina Commission a proposal to increase the total fuel cost component of retail electric rates. DESC's proposed adjustment is designed to recover DESC's current base fuel costs, including its existing under-collected balance, over the 12-month period beginning with the first billing cycle of May 2023, along with a requested decrease to DESC's variable environmental and avoided capacity cost component. The net effect of the proposal is an annual increase of $176 million. In March 2023, DESC, the South Carolina Office of Regulatory Staff and another party of record filed a stipulation with the South Carolina Commission for approval to reduce the base fuel cost component reflecting a subsequent decrease in current fuel prices, resulting in a net annual increase of $121 million. In April 2023, the South Carolina Commission voted to approve the stipulation, with rates effective May 2023.

Electric Transmission Project

In March 2023, DESC filed an application with the South Carolina Commission requesting approval to construct and operate 19 miles of 230 kV transmission lines, a substation and associated facilities in Jasper County, South Carolina estimated to cost approximately $55 million. In July 2023, the South Carolina Commission voted to approve the request.

Electric - Other

DESC utilizes a pension costs rider approved by the South Carolina Commission which is designed to allow recovery of projected pension costs, including under-collected balances or net of over-collected balances, as applicable. The rider is typically reviewed for adjustment every 12 months with any resulting increase or decrease going into effect beginning with the first billing cycle in May. In February 2023, DESC requested that the South Carolina Commission approve an adjustment to this rider to increase annual revenue by $24 million. In April 2023, the South Carolina Commission approved the request.

Natural Gas Base Rate Case

In March 2023, DESC filed its natural gas base rate case and schedules with the South Carolina Commission. DESC proposed a non-fuel, base rate increase of $19 million effective October 2023. The base rate increase was proposed to recover significant investment in distribution infrastructure for the benefit of customers. The proposed rates would provide for an ROE of 10.38% compared to the currently authorized ROE of 10.25%. In addition, DESC elected to continue applicability of the Natural Gas Rate Stabilization Act, which allows for the adjustment of natural gas base rates annually, to its future rates and charges. This matter is pending.

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Ohio Regulation

PIR Program

In 2008, East Ohio began PIR, aimed at replacing approximately 25% of its pipeline system. The Ohio Commission has approved East Ohio’s PIR program for capital investments through 2026 with 3% increases of annual capital expenditures per year.

In February 2023, East Ohio filed an application with the Ohio Commission requesting approval to adjust the PIR recovery. The filing reflects gross plant investment for 2022 of $225 million, cumulative gross plant investment of $2.4 billion and a revenue requirement of $305 million. In April 2023, the Ohio Commission approved the request.

CEP Program

In 2011, East Ohio began CEP which enables East Ohio to defer depreciation expense, property tax expense and carrying costs at the debt rate of 6.5% on capital investments not covered by its PIR program to expand, upgrade or replace its infrastructure and information technology systems as well as investments necessary to comply with the Ohio Commission or other government regulations. In April 2022, certain parties filed an appeal with the Supreme Court of Ohio appealing the Ohio Commission’s December 2020 order establishing the CEP rider, including the rate of return utilized in determining the revenue requirement. This matter is pending.

In March 2023, East Ohio filed an application with the Ohio Commission requesting approval to adjust CEP cost recovery rates for 2022 costs. The filing reflects gross plant investment for 2022 of $195 million, cumulative gross plant investment of $1.3 billion and a revenue requirement of $151 million. This matter is pending.

UEX Rider

East Ohio has approval for a UEX rider through which it recovers the bad debt expense of most customers not participating in the PIPP Plus Program. The UEX rider is adjusted annually to achieve dollar for dollar recovery of East Ohio's actual write-offs of uncollectible amounts. In July 2023, the Ohio Commission approved East Ohio's application to adjust its UEX rider to reflect an annual revenue requirement of $23 million to provide for recovery of an under-recovered accumulated bad debt expense of $9 million as of March 31, 2023, and recovery of net bad debt expense projected to total $14 million for the twelve-month period ending March 2024.

Utah Regulation

Purchased Gas

In February 2023, Questar Gas filed an application with the Utah Commission seeking approval for a $92 million gas cost increase with rates effective March 2023. Subsequently in February 2023, the Utah Commission approved a $164 million gas cost increase reflecting additional undercollected gas costs incurred in January 2023.

Note 14. Leases

Other than the items discussed below, there have been no significant changes regarding the Companies’ leases as described in Note 15 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Dominion Energy’s Consolidated Statements of Income include $6 million and $11 million for the three and six months ended June 30, 2023, respectively, and $7 million and $11 million for the three and six months ended June 30, 2022, respectively, of rental revenue included in operating revenue. Dominion Energy’s Consolidated Statements of Income include $2 million and $3 million for the three and six months ended June 30, 2023, respectively, and $8 million and $17 million for the three and six months ended June 30, 2022, respectively, of depreciation expense included in depreciation, depletion and amortization related to facilities subject to power purchase agreements under which Dominion Energy is the lessor.

Offshore Wind Vessel Leasing Arrangement

In December 2020, Dominion Energy signed an agreement (subsequently amended in December 2022 and May 2023) with a lessor to complete construction of and lease a Jones Act compliant offshore wind installation vessel. This vessel is designed to handle current turbine technologies as well as next generation turbines. The lessor is providing equity and has obtained financing commitments from debt investors, totaling $625 million, to fund the estimated project costs. The project is expected to be completed in late 2024 or early 2025. Dominion Energy has been appointed to act as the construction agent for the lessor, during which time Dominion Energy will request cash draws from the lessor and debt investors to fund all project costs, which totaled $367 million as of June 30, 2023. If the project is terminated under certain events of default, Dominion Energy could be required to pay up to 100% of the then funded amount.

The initial lease term will commence once construction is substantially complete and the vessel is delivered and will mature in November 2027. At the end of the initial lease term, Dominion Energy can (i) extend the term of the lease for an additional term,

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subject to the approval of the participants, at current market terms, (ii) purchase the property for an amount equal to the outstanding project costs or, (iii) subject to certain terms and conditions, sell the property on behalf of the lessor to a third party using commercially reasonable efforts to obtain the highest cash purchase price for the property. If the project is sold and the proceeds from the sale are insufficient to repay the investors for the outstanding project costs, Dominion Energy may be required to make a payment to the lessor for the difference between the outstanding project costs and sale proceeds. Dominion Energy is not considered the owner during construction for financial accounting purposes and, therefore, will not reflect the construction activity in its consolidated financial statements. Dominion Energy expects to recognize a right-of-use asset and a corresponding finance lease liability at the commencement of the lease term. Dominion Energy will be considered the owner of the leased property for tax purposes, and as a result, will be entitled to tax deductions for depreciation and interest expense.

Note 15. Variable Interest Entities

There have been no significant changes regarding the entities the Companies consider VIEs as described in Note 16 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Virginia Power

Virginia Power purchased shared services from DES, an affiliated VIE, of $113 million and $96 million for the three months ended June 30, 2023 and 2022, respectively and $226 million and $194 million for the six months ended June 30, 2023 and 2022, respectively. Virginia Power’s Consolidated Balance Sheets include amounts due to DES of $27 million and $28 million at June 30, 2023 and December 31, 2022, respectively, recorded in payables to affiliates.

Note 16. Significant Financing Transactions

Credit Facilities and Short-term Debt

The Companies use short-term debt to fund working capital requirements and as a bridge to long-term debt financings. The levels of borrowing may vary significantly during the course of the year, depending upon the timing and amount of cash requirements not satisfied by cash from operations. In addition, Dominion Energy utilizes cash and letters of credit to fund collateral requirements. Collateral requirements are impacted by commodity prices, hedging levels, Dominion Energy’s credit ratings and the credit quality of its counterparties. Other than the items discussed below, there have been no significant changes regarding the Companies’ credit facilities and short-term debt as described in Note 17 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Dominion Energy

Dominion Energy’s short-term financing is supported by its $6.0 billion joint revolving credit facility that provides for a discount in the pricing of certain annual fees and amounts borrowed by Dominion Energy under the facility if Dominion Energy achieves certain annual renewable electric generation and diversity and inclusion objectives.

At June 30, 2023, Dominion Energy’s commercial paper and letters of credit outstanding, as well as its capacity available under the credit facility, were as follows:

	Facility Limit		Outstanding Commercial Paper		Outstanding Letters of Credit		Facility Capacity Available
(millions)
Joint revolving credit facility(1)	$	6,000	$	4,172	$	16	$	1,812

(1)This credit facility matures in June 2026, with the potential to be extended by the borrowers to June 2028, and can be used by the borrowers under the credit facility to support bank borrowings and the issuance of commercial paper, as well as to support up to a combined $2.0 billion of letters of credit.

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DESC and Questar Gas’ short-term financings are supported through access as co-borrowers to the joint revolving credit facility discussed above with the Companies. At June 30, 2023, the sub-limits for DESC and Questar Gas were $500 million and $250 million, respectively.

In March 2023, FERC granted DESC authority through March 2025 to issue short-term indebtedness (pursuant to Section 204 of the Federal Power Act) in amounts not to exceed $2.2 billion outstanding with maturity dates of one year or less. In addition, in March 2023, FERC granted GENCO authority through March 2025 to issue short-term indebtedness not to exceed $200 million outstanding with maturity dates of one year or less.

In addition to the credit facility mentioned above and Virginia Power's letter of credit facilities mentioned below, Dominion Energy also has a credit facility which allows Dominion Energy to issue up to approximately $30 million in letters of credit and will mature in June 2024. At both June 30, 2023 and December 31, 2022, Dominion Energy had $25 million in letters of credit outstanding under this facility.

In March 2023, Dominion Energy entered into an agreement with a financial institution which it expects to allow it to issue up to $100 million in letters of credit. At June 30, 2023, $58 million in letters of credit were issued and outstanding under this agreement.

Dominion Energy has an effective shelf registration statement with the SEC for the sale of up to $3.0 billion of variable denomination floating rate demand notes, called Dominion Energy Reliability InvestmentSM as disclosed in Note 17 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. At June 30, 2023 and December 31, 2022, Dominion Energy’s Consolidated Balance Sheets include $403 million and $347 million, respectively, with respect to such notes presented within short-term debt. The proceeds are used for general corporate purposes and to repay debt.

In January 2023, Dominion Energy entered into a $2.5 billion 364-Day term loan facility which bears interest at a variable rate and will mature in January 2024 with the proceeds to be used to repay existing long-term debt and short-term debt upon maturity and for other general corporate purposes. Concurrently, Dominion Energy borrowed an initial $1.0 billion with the proceeds used to repay long-term debt. In February and March 2023, Dominion Energy borrowed $500 million and $1.0 billion, respectively, with the proceeds used for general corporate purposes and to repay long-term debt. At June 30, 2023, Dominion Energy's Consolidated Balance Sheet includes $2.5 billion with respect to such facility presented within securities due within one year. The maximum allowed total debt to total capital ratio under the facility is consistent with such allowed ratio under Dominion Energy’s joint revolving credit facility.

In July 2023, Dominion Energy entered into two $600 million 364-day term loan facilities which bear interest at a variable rate and will mature in July 2024 with the proceeds to be used to repay existing long-term debt and/or short-term debt upon maturity and for other general corporate purposes. Subsequently in July 2023, Dominion Energy borrowed an initial $750 million in the aggregate under these facilities with the proceeds used to repay short-term debt and for general corporate purposes. Dominion Energy is permitted to make up to three additional borrowings under each agreement through November 2023, at which point any unused capacity will cease to be available to Dominion Energy. The agreements contain certain mandatory early repayment provisions, including that any after-tax proceeds in connection with a sale of Dominion Energy’s noncontrolling interest in Cove Point, following the repayment of DECP Holding’s term loan secured by its noncontrolling interest in Cove Point, be applied to any outstanding borrowings under the facilities. The maximum allowed total debt to total capital ratio under the facilities is consistent with such allowed ratio under Dominion Energy’s joint revolving credit facility.

Virginia Power

Virginia Power’s short-term financing is supported through its access as co-borrower to Dominion Energy’s $6.0 billion joint revolving credit facility. The credit facility can be used for working capital, as support for the combined commercial paper programs of the borrowers under the credit facility and for other general corporate purposes.

At June 30, 2023, Virginia Power’s share of commercial paper and letters of credit outstanding under the joint revolving credit facility with Dominion Energy, Questar Gas and DESC was as follows:

	Facility Limit(1)		Outstanding Commercial Paper		Outstanding Letters of Credit
(millions)
Joint revolving credit facility(1)	$	6,000	$	1,265	$	10

(1)The full amount of the facility is available to Virginia Power, less any amounts outstanding to co-borrowers Dominion Energy, Questar Gas and DESC. The sub-limit for Virginia Power is set pursuant to the terms of the facility but can be changed at the option of the borrowers multiple times per year. At June 30, 2023, the sub-limit for Virginia Power was $1.75 billion. If Virginia Power has liquidity needs in excess of

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its sub-limit, the sub-limit may be changed or such needs may be satisfied through short-term intercompany borrowings from Dominion Energy. This credit facility matures in June 2026, with the potential to be extended by the borrowers to June 2028. The credit facility can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $2.0 billion (or the sub-limit, whichever is less) of letters of credit.

In January 2023, Virginia Power entered into a letter of credit facility which allows Virginia Power to issue up to $125 million in letters of credit and matures in January 2026. At June 30, 2023, less than $1 million in letters of credit were issued and outstanding under this facility with no amounts drawn under the letters of credit.

In March 2023, Virginia Power entered into an agreement with a financial institution, which it expects to allow it to issue up to $200 million in letters of credit. At June 30, 2023, $60 million in letters of credit were issued and outstanding under this agreement.

Long-term Debt

Unless otherwise noted, the proceeds of long-term debt issuances were used for general corporate purposes and/or to repay short-term debt.

In March 2023, Dominion Energy borrowed $450 million under its Sustainability Revolving Credit Agreement, which, as described in Note 18 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, matures in 2024 and bears interest at a variable rate with the proceeds used for general corporate purposes. In April 2023 Dominion Energy repaid $450 million borrowed for general corporate purposes. At both June 30, 2023 and December 31, 2022, Dominion Energy’s Consolidated Balance Sheets include $450 million with respect to this facility.

In March 2023, Virginia Power issued $750 million of 5.00% senior notes and $750 million of 5.45% senior notes that mature in 2033 and 2053, respectively.

In June 2023, Virginia Power remarketed three series of tax-exempt bonds, with an aggregate outstanding principal of $160 million to new investors. All three bonds will bear interest at a coupon of 3.65% until October 2027, after which they will bear interest at a market rate to be determined at that time.

Derivative Restructuring

In August 2020, Virginia Power amended a portfolio of interest rate swaps with a notional value of $900 million, extending the mandatory termination dates, as discussed in Note 18 to the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. In March 2023, Virginia Power settled the remaining outstanding interest rate swaps which would have otherwise matured in December 2023, resulting in a $448 million reduction in securities due within one year.

Preferred Stock

Dominion Energy is authorized to issue up to 20 million shares of preferred stock, which may be designated into separate classes. At June 30, 2023 and December 31, 2022, Dominion Energy had issued and outstanding 1.8 million shares of preferred stock, 0.8 million and 1.0 million of which were designated as the Series B Preferred Stock and the Series C Preferred Stock, respectively.

Dominion Energy recorded dividends of $5 million ($2.917 per share) for the three months ended June 30, 2022 and $12 million ($7.292 per share) for the six months ended June 30, 2022, on the Series A Preferred Stock. In addition, Dominion Energy recorded interest expense of $2 million on the Series A Preferred Stock for the three and six months ended June 30, 2022, following the reclassification of these shares to a mandatorily redeemable liability effective June 2022. Dominion Energy recorded dividends of $9 million ($11.625 per share) for both the three months ended June 30, 2023 and 2022 and $18 million ($23.250 per share) for both the six months ended June 30, 2023 and 2022 on the Series B Preferred Stock. Dominion Energy recorded dividends of $11 million ($10.875 per share) for both the three months ended June 30, 2023 and 2022 and $22 million ($21.750 per share) for both the six months ended June 30, 2023 and 2022 on the Series C Preferred Stock.

There have been no significant changes to Dominion Energy’s Series B Preferred Stock and Series C Preferred Stock as described in Note 19 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

2019 Corporate Units

The 2019 Equity Units, initially issued in the form of 2019 Series A Corporate Units, are described in Note 19 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

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Pursuant to the terms of the 2019 Equity Units, Dominion Energy conducted a final remarketing of substantially all shares of Series A Preferred Stock in May 2022 which resulted in the dividend rate for all shares of Series A Preferred Stock being reset to 1.75% for the June 2022 through August 2022 dividend period and 6.75% effective September 2022. The conversion rate on the Series A Preferred Stock did not increase as a result of the remarketing. In May 2022, Dominion Energy received a commitment from a financial institution to purchase up to 1.6 million shares of the Series A Preferred Stock in the final remarketing. Accordingly, following the settlement of the successful remarketing and approval from its Board of Directors in June 2022, Dominion Energy became obligated to redeem all outstanding shares of Series A Preferred Stock in September 2022. As such, effective June 2022, the Series A Preferred Stock was considered to be mandatorily redeemable and was classified as a current liability. In addition, Dominion Energy made a short-term deposit at the financial institution as described further in Note 10. Proceeds from the final remarketing were used on behalf of holders of 2019 Series A Corporate Units at the time of the remarketing to pay the purchase price to Dominion Energy for the issuance of its common stock under the stock purchase contracts included in such corporate units in June 2022.

Issuance of Common Stock

Dominion Energy recorded, net of fees and commissions, $85 million from the issuance of 2 million shares of common stock for the six months ended June 30, 2023 and $91 million from the issuance of 1 million shares of common stock for the six months ended June 30, 2022, through various programs including Dominion Energy Direct® and employee savings plans as described in Note 20 to the Consolidated Financial Statements to the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

In May 2022, Dominion Energy issued 0.9 million shares of its common stock, valued at $72 million, to partially satisfy DESC’s remaining obligation under a settlement agreement with the SCDOR discussed in Note 17.

In June 2022, Dominion Energy issued 0.4 million shares of its common stock, valued at $30 million, to partially satisfy its obligation under a settlement agreement for the State Court Merger Case discussed in Note 17.

In June 2022, Dominion Energy issued 19.4 million shares to settle the stock purchase contract component of the 2019 Equity Units and received proceeds of $1.6 billion.

At-the-Market Program

In August 2020, Dominion Energy entered into sales agency agreements to effect sales under an at-the-market program as discussed in Note 20 to the Consolidated Financial Statements in the Companies’ Annual Report Form 10-K for the year ended December 31, 2022. Dominion Energy did not issue any shares or enter into any forward sale agreements under this program during the three and six months ended June 30, 2023, prior to its expiration in June 2023.

Repurchase of Common Stock

In November 2020, the Board of Directors authorized the repurchase of up to $1.0 billion of Dominion Energy’s common stock in addition to the $3.0 billion repurchase program authorized in July 2020 and completed in December 2020 as discussed in Note 20 to the Consolidated Financial Statements in the Companies’ Annual Report Form 10-K for the year ended December 31, 2022.

Dominion Energy did not repurchase any shares of common stock during the six months ended June 30, 2023, except for shares tendered by employees to satisfy tax withholding obligations on vested restricted stock, which do not count against its stock repurchase authorization.

Note 17. Commitments and Contingencies

As a result of issues generated in the ordinary course of business, the Companies are involved in legal proceedings before various courts and are periodically subject to governmental examinations (including by regulatory authorities), inquiries and investigations. Certain legal proceedings and governmental examinations involve demands for unspecified amounts of damages, are in an initial procedural phase, involve uncertainty as to the outcome of pending appeals or motions, or involve significant factual issues that need to be resolved, such that it is not possible for the Companies to estimate a range of possible loss. For such matters that the Companies cannot estimate, a statement to this effect is made in the description of the matter. Other matters may have progressed sufficiently through the litigation or investigative processes such that the Companies are able to estimate a range of possible loss. For legal proceedings and governmental examinations that the Companies are able to reasonably estimate a range of possible losses, an estimated range of possible loss is provided, in excess of the accrued liability (if any) for such matters. The Companies maintain various insurance programs, including general liability insurance coverage which provides coverage for personal injury or wrongful death cases. Any accrued liability is recorded on a gross basis with a receivable also recorded for any probable insurance recoveries. Estimated ranges of loss are inclusive of legal fees and net of any anticipated insurance recoveries. Any estimated range is based on

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currently available information and involves elements of judgment and significant uncertainties. Any estimated range of possible loss may not represent the Companies’ maximum possible loss exposure. The circumstances of such legal proceedings and governmental examinations will change from time to time and actual results may vary significantly from the current estimate. For current proceedings not specifically reported below, management does not anticipate that the liabilities, if any, arising from such proceedings would have a material effect on the Companies’ financial position, liquidity or results of operations.

Environmental Matters

The Companies are subject to costs resulting from a number of federal, state and local laws and regulations designed to protect human health and the environment. These laws and regulations affect future planning and existing operations. They can result in increased capital, operating and other costs as a result of compliance, remediation, containment and monitoring obligations.

Air

The CAA, as amended, is a comprehensive program utilizing a broad range of regulatory tools to protect and preserve the nation’s air quality. At a minimum, states are required to establish regulatory programs to meet applicable requirements of the CAA. However, states may choose to develop regulatory programs that are more restrictive. Many of the Companies’ facilities are subject to the CAA’s permitting and other requirements.

Ozone Standards

The EPA published final non-attainment designations for the October 2015 ozone standards in June 2018 with states required to develop plans to address the new standard. Certain states in which the Companies operate have developed plans, and had such plans approved or partially approved by the EPA, which are not expected to have a material impact on the Companies’ results of operations or cash flows. In March 2023, the EPA issued a final rule specifying an interstate federal implementation plan to comply with certain aspects of planning for the 2015 ozone standards which is applicable in August 2023 for certain states, including Virginia. The interstate federal implementation plan imposes tighter NOX emissions limits during the ozone season and includes provisions for the use of allowances to cover such emissions. Until implementation plans for the 2015 ozone standards are fully developed and approved for all states in which the Companies operate, the Companies are unable to predict whether or to what extent the new rules will ultimately require additional controls. The expenditures required to implement additional controls could have a material impact on the Companies’ results of operations, financial condition and/or cash flows.

ACE Rule

In July 2019, the EPA published the final rule informally referred to as the ACE Rule, as a replacement for the Clean Power Plan. The ACE Rule regulated GHG emissions from existing coal-fired power plants pursuant to Section 111(d) of the CAA and required states to develop plans by July 2022 establishing unit-specific performance standards for existing coal-fired power plants. In January 2021, the U.S. Court of Appeals for the D.C. Circuit vacated the ACE Rule and remanded it to the EPA. This decision would take effect upon issuance of the court’s mandate. In March 2021, the court issued a partial mandate vacating and remanding all parts of the ACE Rule except for the portion of the ACE Rule that repealed the Clean Power Plan. In October 2021, the U.S. Supreme Court agreed to hear a challenge of the U.S. Court of Appeals for the D.C. Circuit’s decision on the ACE Rule. In June 2022, the U.S. Supreme Court reversed the D.C. Circuit’s decision on the ACE Rule and remanded the case back to the D.C. Circuit. In May 2023, the EPA proposed to repeal the ACE Rule as part of a package of proposed rules addressing CO2 emissions from new and existing fossil fuel-fired electric generating units. Until the EPA takes final action on this proposed rulemaking, the Companies cannot predict an impact to its operations, financial condition and/or cash flows.

Carbon Regulations

In August 2016, the EPA issued a draft rule proposing to reaffirm that a source’s obligation to obtain a PSD or Title V permit for GHGs is triggered only if such permitting requirements are first triggered by non-GHG, or conventional, pollutants that are regulated by the New Source Review program, and exceed a significant emissions rate of 75,000 tons per year of CO2 equivalent emissions. Until the EPA ultimately takes final action on this rulemaking, the Companies cannot predict the impact to their results of operations, financial condition and/or cash flows.

In December 2018, the EPA proposed revised Standards of Performance for Greenhouse Gas Emissions from New, Modified, and Reconstructed Stationary Sources. The proposed rule would amend the previous determination that the best system of emission reduction for newly constructed coal-fired steam generating units is no longer partial carbon capture and storage. Instead, the proposed revised best system of emission reduction for this source category is the most efficient demonstrated steam cycle (e.g., supercritical steam conditions for large units and subcritical steam conditions for small units) in combination with best operating practices. The proposed revision to the performance standards for coal-fired steam generating units remains pending. Until the EPA ultimately takes

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final action on this rulemaking, the Companies cannot predict the impact to their results of operations, financial condition and/or cash flows.

Water

The CWA, as amended, is a comprehensive program requiring a broad range of regulatory tools including a permit program to authorize and regulate discharges to surface waters with strong enforcement mechanisms. The Companies must comply with applicable aspects of the CWA programs at their operating facilities.

Regulation 316(b)

In October 2014, the final regulations under Section 316(b) of the CWA that govern existing facilities and new units at existing facilities that employ a cooling water intake structure and that have flow levels exceeding a minimum threshold became effective. The rule establishes a national standard for impingement based on seven compliance options, but forgoes the creation of a single technology standard for entrainment. Instead, the EPA has delegated entrainment technology decisions to state regulators. State regulators are to make case-by-case entrainment technology determinations after an examination of five mandatory facility-specific factors, including a social cost-benefit test, and six optional facility-specific factors. The rule governs all electric generating stations with water withdrawals above two MGD, with a heightened entrainment analysis for those facilities over 125 MGD. Dominion Energy and Virginia Power currently have 15 and nine facilities, respectively, that are subject to the final regulations. Dominion Energy is also working with the EPA and state regulatory agencies to assess the applicability of Section 316(b) to eight hydroelectric facilities, including three Virginia Power facilities. The Companies anticipate that they may have to install impingement control technologies at certain of these stations that have once-through cooling systems. The Companies are currently evaluating the need or potential for entrainment controls under the final rule as these decisions will be made on a case-by-case basis after a thorough review of detailed biological, technological, and cost benefit studies. DESC is conducting studies and implementing plans as required by the rule to determine appropriate intake structure modifications at certain facilities to ensure compliance with this rule. While the impacts of this rule could be material to the Companies’ results of operations, financial condition and/or cash flows, the existing regulatory frameworks in South Carolina and Virginia provide rate recovery mechanisms that could substantially mitigate any such impacts for the regulated electric utilities.

Effluent Limitations Guidelines

In September 2015, the EPA released a final rule to revise the Effluent Limitations Guidelines for the Steam Electric Power Generating Category. The final rule established updated standards for wastewater discharges that apply primarily at coal and oil steam generating stations. Affected facilities are required to convert from wet to dry or closed cycle coal ash management, improve existing wastewater treatment systems and/or install new wastewater treatment technologies in order to meet the new discharge limits. In April 2017, the EPA granted two separate petitions for reconsideration of the Effluent Limitations Guidelines final rule and stayed future compliance dates in the rule. Also in April 2017, the U.S. Court of Appeals for the Fifth Circuit granted the EPA’s request for a stay of the pending consolidated litigation challenging the rule while the EPA addresses the petitions for reconsideration. In September 2017, the EPA signed a rule to postpone the earliest compliance dates for certain waste streams regulations in the Effluent Limitations Guidelines final rule from November 2018 to November 2020; however, the latest date for compliance for these regulations was December 2023. In October 2020, the EPA released the final rule that extends the latest dates for compliance. Individual facilities’ compliance dates will vary based on circumstances and the determination by state regulators and may range from 2021 to 2028. While the impacts of this rule could be material to the Companies’ results of operations, financial condition and/or cash flows, the existing regulatory frameworks in South Carolina and Virginia provide rate recovery mechanisms that could substantially mitigate any such impacts for the regulated electric utilities.

Waste Management and Remediation

The operations of the Companies are subject to a variety of state and federal laws and regulations governing the management and disposal of solid and hazardous waste, and release of hazardous substances associated with current and/or historical operations. The CERCLA, as amended, and similar state laws, may impose joint, several and strict liability for cleanup on potentially responsible parties who owned, operated or arranged for disposal at facilities affected by a release of hazardous substances. In addition, many states have created programs to incentivize voluntary remediation of sites where historical releases of hazardous substances are identified and property owners or responsible parties decide to initiate cleanups.

From time to time, the Companies may be identified as a potentially responsible party in connection with the alleged release of hazardous substances or wastes at a site. Under applicable federal and state laws, the Companies could be responsible for costs associated with the investigation or remediation of impacted sites, or subject to contribution claims by other responsible parties for their costs incurred at such sites. The Companies also may identify, evaluate and remediate other potentially impacted sites under voluntary state programs. Remediation costs may be subject to reimbursement under the Companies’ insurance policies, rate recovery

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mechanisms, or both. Except as described below, the Companies do not believe these matters will have a material effect on results of operations, financial condition and/or cash flows.

Dominion Energy has determined that it is associated with former manufactured gas plant sites, including certain sites associated with Virginia Power. At 13 sites associated with Dominion Energy, remediation work has been substantially completed under federal or state oversight. Where required, the sites are following state-approved groundwater monitoring programs. Dominion Energy commenced remediation activities at one site in the second quarter of 2022. In addition, Dominion Energy has proposed remediation plans for one site at Virginia Power and expects to commence remediation activities in 2023 depending on receipt of final permits and approvals. At June 30, 2023 and December 31, 2022, Dominion Energy had $46 million and $47 million, respectively, of which $1 million at both periods is reflected in liabilities held for sale and Virginia Power had $25 million at both periods, of reserves recorded. Dominion Energy is associated with 12 additional sites, including two associated with Virginia Power, which are not under investigation by any state or federal environmental agency nor the subject of any current or proposed plans to perform remediation activities. Due to the uncertainty surrounding such sites, the Companies are unable to make an estimate of the potential financial statement impacts.

Other Legal Matters

The Companies are defendants in a number of lawsuits and claims involving unrelated incidents of property damage and personal injury. Due to the uncertainty surrounding these matters, the Companies are unable to make an estimate of the potential financial statement impacts; however, they could have a material impact on results of operations, financial condition and/or cash flows.

SCANA Legal Proceedings

The following describes certain legal proceedings involving Dominion Energy, SCANA or DESC relating primarily to events occurring before closing of the SCANA Combination. In addition, certain legal matters which have been resolved are discussed in Note 23 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. No reference to, or disclosure of, any proceeding, item or matter described below shall be construed as an admission or indication that such proceeding, item or matter is material. For certain of these matters, and unless otherwise noted therein, Dominion Energy is unable to estimate a reasonable range of possible loss and the related financial statement impacts, but for any such matter there could be a material impact to its results of operations, financial condition and/or cash flows. For the matters for which Dominion Energy is able to reasonably estimate a probable loss, Dominion Energy’s Consolidated Balance Sheets at June 30, 2023 and December 31, 2022 include reserves of $66 million and $94 million, respectively, included in other current liabilities, and insurance receivables of $72 million and $68 million, respectively, included within other receivables. These balances at June 30, 2023 and December 31, 2022 include $62 million and $68 million, respectively, of offsetting reserves and insurance receivables related to personal injury or wrongful death cases which are currently pending. During both the three and six months ended June 30, 2023 and 2022, charges included in Dominion Energy's Consolidated Statements of Income were inconsequential.

Governmental Proceedings and Investigations

In June 2018, DESC received a notice of proposed assessment of approximately $410 million, excluding interest, from the SCDOR following its audit of DESC’s sales and use tax returns for the periods September 1, 2008 through December 31, 2017. The proposed assessment, which includes 100% of the NND Project, is based on the SCDOR’s position that DESC’s sales and use tax exemption for the NND Project does not apply because the facility will not become operational. In December 2020, the parties reached an agreement in principle in the amount of $165 million to resolve this matter. In June 2021, the parties executed a settlement agreement which allows DESC to fund the settlement amount through a combination of cash, shares of Dominion Energy common stock or real estate with an initial payment of at least $43 million in shares of Dominion Energy common stock. In August 2021, Dominion Energy issued 0.6 million shares of its common stock to satisfy DESC’s obligation for the initial payment under the settlement agreement. In May 2022, Dominion Energy issued an additional 0.9 million shares of its common stock to partially satisfy DESC’s remaining obligation under the settlement agreement. In June 2022, DESC requested approval from the South Carolina Commission to transfer certain real estate with a total settlement value of $51 million to satisfy its remaining obligation under the settlement agreement. In July 2022, the South Carolina Commission voted to approve the request and issued its final order in August 2022. In September 2022, DESC transferred certain non-utility property with a fair value of $28 million to the SCDOR under the settlement agreement. In December 2022, DESC transferred additional utility property with a fair value of $3 million to the SCDOR. In October 2022, DESC filed for approval to transfer the remaining real estate with FERC which was received in November 2022. In March 2023, DESC transferred utility property with a fair value of $10 million to the SCDOR resulting in a gain of $9 million ($7 million after-tax), recorded in losses (gains) on sales of assets in Dominion Energy’s Consolidated Statements of Income for the six months ended June 30, 2023. In June 2023, DESC transferred the remaining utility property with a fair value of $11 million to the SCDOR resulting in a gain of $11 million ($8 million after-tax), recorded in losses (gains) on sales of assets in Dominion Energy's Consolidated Statements of Income for the three and six months ended June 30, 2023. In July 2023, DESC made a less than $1 million cash payment to the SCDOR to fully satisfy its remaining obligation, including applicable interest, under the settlement agreement.

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Nuclear Operations

Nuclear Insurance

There have been no significant changes regarding the Companies’ nuclear insurance as described in Note 23 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Spent Nuclear Fuel

As discussed in Note 23 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, the Companies entered into contracts with the DOE for the disposal of spent nuclear fuel under provisions of the Nuclear Waste Policy Act of 1982.

Guarantees, Surety Bonds and Letters of Credit

At June 30, 2023, Dominion Energy had issued four guarantees related to Cove Point, an equity method investment, in support of terminal services, transportation and construction. Two of the Cove Point guarantees have a cumulative maximum exposure of $1.9 billion while the other two guarantees have no maximum limit. No amounts related to these guarantees have been recorded.

In addition, at June 30, 2023, Dominion Energy had issued an additional $20 million of guarantees, primarily to support third parties. No amounts related to these guarantees have been recorded.

Dominion Energy also enters into guarantee arrangements on behalf of its consolidated subsidiaries, primarily to facilitate their commercial transactions with third parties. If any of these subsidiaries fail to perform or pay under the contracts and the counterparties seek performance or payment, Dominion Energy would be obligated to satisfy such obligation. To the extent that a liability subject to a guarantee has been incurred by one of Dominion Energy’s consolidated subsidiaries, that liability is included in the Consolidated Financial Statements. Dominion Energy is not required to recognize liabilities for guarantees issued on behalf of its subsidiaries unless it becomes probable that it will have to perform under the guarantees. Terms of the guarantees typically end once obligations have been paid. Dominion Energy currently believes it is unlikely that it would be required to perform or otherwise incur any losses associated with guarantees of its subsidiaries’ obligations.

At June 30, 2023, Dominion Energy had issued the following subsidiary guarantees:

	Maximum Exposure
(millions)
Commodity transactions(1)	$	2,861
Nuclear obligations(2)		245
Solar(3)		214
Other(4)		1,269
Total(5)(6)	$	4,589

(1)Guarantees related to commodity commitments of certain subsidiaries. These guarantees were provided to counterparties in order to facilitate physical and financial transaction related commodities and services.

(2)Guarantees primarily related to certain DGI subsidiaries regarding all aspects of running a nuclear facility.

(3)Includes guarantees to facilitate the development of solar projects.

(4)Guarantees related to other miscellaneous contractual obligations such as leases, environmental obligations, construction projects and insurance programs. Also includes guarantees entered into by Dominion Energy RNG Holdings II, Inc. on behalf of a subsidiary to facilitate construction of renewable natural gas facilities. Due to the uncertainty of workers’ compensation claims, the parental guarantee has no stated limit.

(5)Excludes Dominion Energy’s guarantee of an offshore wind installation vessel discussed in Note 14.

(6)In July 2016, Dominion Energy signed an agreement with a lessor to construct and lease a new corporate office property in Richmond, Virginia. The lessor provided equity and obtained financing commitments from debt investors, totaling $365 million, which funded total project costs. The project became substantially complete in August 2019 at which point the facility was available for Dominion Energy’s use and the five-year lease term commenced. At the end of the initial lease term, Dominion Energy can (i) extend the term of the lease for an additional five years, subject to the approval of the participants, at current market terms, (ii) purchase the property for an amount equal to the project costs or, (iii) subject to certain terms and conditions, sell the property on behalf of the lessor to a third party using commercially reasonable efforts to obtain the highest cash purchase price for the property. If the project is sold and the proceeds from the sale are insufficient to repay the investors for the project costs, Dominion Energy may be required to make a payment to the lessor, up to 87% of project costs, for the difference between the project costs and sale proceeds. At June 30, 2023, no amounts have been recorded related to this guarantee.

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Additionally, at June 30, 2023, Dominion Energy had purchased $282 million of surety bonds, including $198 million at Virginia Power and $39 million related to entities held for sale, and authorized the issuance of letters of credit by financial institutions of $16 million to facilitate commercial transactions by its subsidiaries with third parties. Under the terms of surety bonds, the Companies are obligated to indemnify the respective surety bond company for any amounts paid.

Note 18. Credit Risk

The Companies’ accounting policies for credit risk are discussed in Note 24 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

At June 30, 2023, Dominion Energy’s credit exposure totaled $208 million, primarily related to price risk management activities. Of this amount, investment grade counterparties, including those internally rated, represented 86%. No single counterparty, whether investment grade or non-investment grade, exceeded $47 million of exposure. At June 30, 2023, Virginia Power’s exposure related to wholesale customers totaled $63 million. Of this amount, investment grade counterparties, including those internally rated, represented 75%. No single counterparty, whether investment grade or non-investment grade, exceeded $12 million of exposure.

Credit-Related Contingent Provisions

Certain of Dominion Energy and Virginia Power's derivative instruments contain credit-related contingent provisions. These provisions require Dominion Energy and Virginia Power to provide collateral upon the occurrence of specific events, primarily a credit rating downgrade. If the credit-related contingent features underlying these instruments that are in a liability position and not fully collateralized with cash were fully triggered, Dominion Energy and Virginia Power would have been required to post additional collateral to its counterparties of $89 million and $35 million, respectively, as of June 30, 2023, and $140 million and $28 million, respectively, as of December 31, 2022. The collateral that would be required to be posted includes the impacts of any offsetting asset positions and any amounts already posted for derivatives, non-derivative contracts and derivatives elected under the normal purchases and normal sales exception, per contractual terms. Dominion Energy had posted collateral of $1 million at June 30, 2023, and both Dominion Energy and Virginia Power had posted $72 million at December 31, 2022, related to derivatives with credit-related contingent provisions that are in a liability position and not fully collateralized with cash. Virginia Power had no such collateral posted at June 30, 2023. In addition, Dominion Energy and Virginia Power had both posted letters of credit as collateral with counterparties covering $4 million and $20 million of fair value of derivative instruments in a liability position at June 30, 2023 and December 31, 2022, respectively. The aggregate fair value of all derivative instruments with credit related contingent provisions that are in a liability position and not fully collateralized with cash for Dominion Energy and Virginia Power was $90 million and $35 million, respectively, as of June 30, 2023 and $212 million and $99 million, respectively, as of December 31, 2022, which does not include the impact of any offsetting asset positions.

See Note 9 for additional information about derivative instruments.

Note 19. Related-Party Transactions

Dominion Energy’s transactions with equity method investments are described in Note 10. Virginia Power engages in related-party transactions primarily with other Dominion Energy subsidiaries (affiliates). Virginia Power’s receivable and payable balances with affiliates are settled based on contractual terms or on a monthly basis, depending on the nature of the underlying transactions. Virginia Power is included in Dominion Energy's consolidated federal income tax return and, where applicable, combined income tax returns for Dominion Energy are filed in various states. A discussion of Virginia Power's significant related-party transactions follows.

Virginia Power transacts with affiliates for certain quantities of natural gas and other commodities in the ordinary course of business. Virginia Power also enters into certain commodity derivative contracts with affiliates. Virginia Power uses these contracts, which are principally comprised of forward commodity purchases, to manage commodity price risks associated with purchases of natural gas. At June 30, 2023, Virginia Power’s derivative assets and liabilities with affiliates were $1 million and $89 million, respectively. At December 31, 2022, Virginia Power’s derivative assets and liabilities with affiliates were $33 million and $31 million, respectively. See Note 9 for additional information.

Virginia Power participates in certain Dominion Energy benefit plans described in Note 22 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. At June 30, 2023 and December 31, 2022, amounts due to Dominion Energy associated with the Dominion Energy Pension Plan and included in other deferred credits and other liabilities in the Consolidated Balance Sheets were $439 million and $422 million, respectively. At June 30, 2023 and December 31, 2022, Virginia Power's amounts due from Dominion Energy associated with the Dominion Energy Retiree Health and Welfare Plan and included in other deferred charges and other assets in the Consolidated Balance Sheets were $550 million and $518 million, respectively.

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DES and other affiliates provide accounting, legal, finance and certain administrative and technical services and licenses to Virginia Power. In addition, Virginia Power provides certain services to affiliates, including charges for facilities and equipment usage.

The financial statements for all years presented include costs for certain general, administrative and corporate expenses assigned by DES to Virginia Power on the basis of direct and allocated methods in accordance with Virginia Power’s services agreements with DES. Where costs incurred cannot be determined by specific identification, the costs are allocated based on the proportional level of effort devoted by DES resources that is attributable to the entity, determined by reference to number of employees, salaries and wages and other similar measures for the relevant DES service. Management believes the assumptions and methodologies underlying the allocation of general corporate overhead expenses are reasonable.

Presented below are Virginia Power’s significant transactions with DES and other affiliates:

	Quarter-to-Date				Year-to-Date
Period Ended June 30,	2023		2022		2023		2022
(millions)
Commodity purchases from affiliates	$	103	$	291	$	317	$	584
Services provided by affiliates(1)		145		123		292		253
Services provided to affiliates		4		5		8		9

(1)Includes capitalized expenditures of $46 million and $39 million for the three months ended June 30, 2023 and 2022, respectively, and $100 million and $78 million for the six months ended June 30, 2023 and 2022, respectively.

Virginia Power has borrowed funds from Dominion Energy under short-term borrowing arrangements. There were $2.3 billion and $2.0 billion in short-term demand note borrowings from Dominion Energy as of June 30, 2023 and December 31, 2022, respectively. Virginia Power had no outstanding borrowings, net of repayments, under the Dominion Energy money pool for its nonregulated subsidiaries as of June 30, 2023 and December 31, 2022. Interest charges related to Virginia Power’s borrowings from Dominion Energy were $21 million and $45 million for the three and six months ended June 30, 2023, respectively, and inconsequential for the three and six months ended June 30, 2022.

There were no issuances of Virginia Power’s common stock to Dominion Energy for the three and six months ended June 30, 2023 and 2022.

In January 2023, Virginia Power entered into a lease contract with an affiliated entity for the use of a Jones Act compliant offshore wind installation vessel currently under development with commencement of the 20-month lease term in August 2025 at a total cost of approximately $240 million plus ancillary services.

Note 20. Employee Benefit Plans

Net Periodic Benefit (Credit) Cost

The service cost component of net periodic benefit (credit) cost is reflected in other operations and maintenance expense in Dominion Energy’s Consolidated Statements of Income, except for $4 million and $8 million for the three and six months ended June 30, 2023, respectively, and $6 million and $12 million for the three and six months ended June 30, 2022, respectively, presented in discontinued operations. The non-service cost components of net periodic benefit (credit) cost are reflected in other income (expense) in Dominion Energy’s Consolidated Statements of Income, except for $(12) million and $(23) million for the three and six months ended June 30, 2023, respectively, and $(10) million and $(21) million for the three and six months ended June 30, 2022, respectively, presented in discontinued operations. The components of Dominion Energy’s provision for net periodic benefit cost (credit) are as follows:

	Pension Benefits												Other Postretirement Benefits
	Quarter-to-Date						Year-to-Date						Quarter-to-Date						Year-to-Date
Period Ended June 30,	2023			2022			2023			2022			2023			2022			2023			2022
(millions)
Service cost	$	24		$	35		$	48		$	71		$	4		$	5		$	7		$	11
Interest cost		110			84			221			167			16			12			31			23
Expected return on plan assets		(216	)		(223	)		(432	)		(446	)		(38	)		(48	)		(76	)		(96	)
Amortization of prior service    cost (credit)		—			—			—			—			(9	)		(9	)		(18	)		(19	)
Amortization of net actuarial    (gain) loss		—			40			—			80			(2	)		(1	)		(3	)		(1	)
Net periodic benefit    (credit) cost	$	(82	)	$	(64	)	$	(163	)	$	(128	)	$	(29	)	$	(41	)	$	(59	)	$	(82	)

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Employer Contributions

During the three and six months ended June 30, 2023, Dominion Energy made no contributions to its qualified defined benefit pension plans or other postretirement benefit plans. Dominion Energy is not required to make any contributions to its qualified defined benefit pension plans or to VEBAs associated with its other postretirement plans in 2023. Dominion Energy considers voluntary contributions from time to time, either in the form of cash or equity securities.

Note 21. Operating Segments

The Companies are organized primarily on the basis of products and services sold in the U.S. A description of the operations included in the Companies’ primary operating segments effective September 2023 is as follows:

Primary Operating Segment	Description of Operations	Dominion Energy	Virginia Power
Dominion Energy Virginia	Regulated electric distribution	X	X
	Regulated electric transmission	X	X
	Regulated electric generation fleet(1)	X	X
Dominion Energy South Carolina	Regulated electric distribution	X
	Regulated electric transmission	X
	Regulated electric generation fleet	X
	Regulated gas distribution and storage	X
Contracted Energy(2)	Nonregulated electric generation fleet(3)	X

(1)Includes Virginia Power’s non-jurisdictional solar generation operations.

(2)Includes renewable natural gas operations.

(3)Includes solar generation facility development operations.

In addition to the operating segments above, the Companies also report a Corporate and Other segment.

Dominion Energy

The Corporate and Other Segment of Dominion Energy includes, effective September 2023, its corporate, service company and other functions (including unallocated debt) as well as its noncontrolling interest in Dominion Privatization and its noncontrolling interest in Wrangler (through March 2022) and Hope (through August 2022). In addition, Corporate and Other includes specific items attributable to Dominion Energy’s operating segments that are not included in profit measures evaluated by executive management in assessing the segments’ performance or in allocating resources, as well as the net impact of the operations included in the East Ohio, PSNC and Questar Gas Transactions, its noncontrolling interest in Cove Point and gas transmission and storage operations, including its noncontrolling interest in Atlantic Coast Pipeline, reported as discontinued operations which are discussed in Notes 3 and 10 as well as Notes 3 and 9 to the Consolidated Financial Statements in Dominion Energy’s Annual Report on Form 10-K for the year ended December 31, 2022.

In the six months ended June 30, 2023, Dominion Energy reported after-tax net income of $592 million in the Corporate and Other segment, including $735 million of after-tax net income for specific items with $370 million of after-tax net income attributable to its operating segments. In the six months ended June 30, 2022, Dominion Energy reported after-tax net expenses of $963 million in the Corporate and Other segment, including $944 million of after-tax net expenses for specific items with $1.7 billion of after-tax net expenses attributable to its operating segments.

The net income for specific items attributable to Dominion Energy’s operating segments in 2023 primarily related to the impact of the following items:

•A $342 million ($260 million after-tax) gain related to economic hedging activities, attributable to Contracted Energy;

•A $281 million ($208 million after-tax) gain related to investments in nuclear decommissioning trust funds, attributable to:

•Contracted Energy ($178 million after-tax); and

•Dominion Energy Virginia ($30 million after-tax);

•A $122 million ($91 million after-tax) charge for amortization of a regulatory asset established in connection with the settlement of the 2021 Triennial Review, attributable to Dominion Energy Virginia;

•A $36 million ($27 million after-tax) charge for the write-off of certain previously deferred amounts related to the cessation of certain riders effective July 2023, attributable to Dominion Energy Virginia; and

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•A $31 million ($23 million after-tax) benefit related to real estate transactions, including gains on the transfer of property to satisfy litigation associated with the NND Project, attributable to Dominion Energy South Carolina.

The net expenses for specific items attributable to Dominion Energy’s operating segments in 2022 primarily related to the impact of the following items:

•A $649 million ($513 million after-tax) loss associated with the sale of Kewaunee, attributable to Contracted Energy;

•A $579 million ($450 million after-tax) loss related to investments in nuclear decommissioning trust funds, attributable to:

•Contracted Energy ($392 million after-tax); and

•Dominion Energy Virginia ($58 million after-tax);

•A $299 million ($227 million after-tax) loss related to economic hedging activities, attributable to Contracted Energy;

•A $191 million ($142 million after-tax) charge in connection with a comprehensive settlement agreement for Virginia fuel expenses, attributable to Dominion Energy Virginia;

•A $180 million ($134 million after-tax) charge for RGGI compliance costs deemed recovered through base rates, attributable to Dominion Energy Virginia;

•A $122 million ($91 million after-tax) charge for amortization of a regulatory asset established in connection with the settlement of the 2021 Triennial Review, attributable to Dominion Energy Virginia;

•A $94 million ($70 million after-tax) charge associated with storm damage and service restoration in Virginia Power’s service territory, attributable to Dominion Energy Virginia; and

•A $42 million ($31 million after-tax) charge for dismantling costs associated with certain retired electric generation facilities, attributable to Dominion Energy Virginia.

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The following table presents segment information pertaining to Dominion Energy’s operations:

	Dominion Energy Virginia			Dominion Energy South Carolina		Contracted Energy			Corporate and Other			Adjustments & Eliminations			Consolidated Total
(millions)
Three Months Ended June 30, 2023
Total revenue from external       customers	$	2,252		$	771	$	126		$	17		$	—		$	3,166
Intersegment revenue		(1	)		2		5			229			(235	)		—
Total operating revenue		2,251			773		131			246			(235	)		3,166
Net income from discontinued       operations		—			—		—			168			—			168
Net income (loss) attributable to       Dominion Energy		392			68		(44	)		183			—			599
Three Months Ended June 30, 2022
Total revenue from external       customers	$	2,173		$	812	$	161		$	(87	)	$	—		$	3,059
Intersegment revenue		(3	)		3		6			204			(210	)		—
Total operating revenue		2,170			815		167			117			(210	)		3,059
Net income from discontinued       operations		—			—		—			212			—			212
Net income (loss) attributable to       Dominion Energy		442			124		(27	)		(992	)		—			(453	)
Six Months Ended June 30, 2023
Total revenue from external      customers	$	4,636		$	1,615	$	434		$	364		$	—		$	7,049
Intersegment revenue		(1	)		3		8			460			(470	)		—
Total operating revenue		4,635			1,618		442			824			(470	)		7,049
Net income from discontinued      operations		—			—		—			449			—			449
Net income attributable to      Dominion Energy		776			159		69			592			—			1,596
Six Months Ended June 30, 2022
Total revenue from external      customers	$	4,342		$	1,610	$	405		$	(185	)	$	—		$	6,172
Intersegment revenue		(7	)		4		10			419			(426	)		—
Total operating revenue		4,335			1,614		415			234			(426	)		6,172
Net income from discontinued      operations		—			—		—			623			—			623
Net income (loss) attributable to      Dominion Energy		958			233		30			(963	)		—			258

Intersegment sales and transfers for Dominion Energy are based on contractual arrangements and may result in intersegment profit or loss that is eliminated in consolidation, including amounts related to entities presented within discontinued operations.

Virginia Power

The Corporate and Other Segment of Virginia Power primarily includes specific items attributable to its operating segment that are not included in profit measures evaluated by executive management in assessing the segment’s performance or in allocating resources.

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In the six months ended June 30, 2023, Virginia Power reported after-tax net expenses of $91 million in the Corporate and Other segment, including $87 million of after-tax net expenses for specific items all of which was attributable to its operating segment. In the six months ended June 30, 2022, Virginia Power reported after-tax net expenses of $554 million in the Corporate and Other segment, including $547 million of after-tax net expenses for specific items with $527 million of after-tax net expenses attributable to its operating segment.

The net expenses for specific items attributable to Virginia Power’s operating segment in 2023 primarily related to the impact of the following item:

•A $122 million ($91 million after-tax) charge for amortization of a regulatory asset established in connection with the settlement of the 2021 Triennial Review;

•A $41 million ($30 million after-tax) gain related to investments in nuclear decommissioning trust funds; and

•A $36 million ($27 million after-tax) charge for the write-off of certain previously deferred amounts related to the cessation of certain riders effective July 2023.

The net expenses for specific items attributable to Virginia Power’s operating segment in 2022 primarily related to the impact of the following items:

•A $191 million ($142 million after-tax) charge in connection with a comprehensive settlement agreement for Virginia fuel expenses;

•A $180 million ($134 million after-tax) charge for RGGI compliance costs deemed recovered through base rates;

•A $122 million ($91 million after-tax) charge for amortization of a regulatory asset established in connection with the settlement of the 2021 Triennial Review;

•A $94 million ($70 million after-tax) charge associated with storm damage and service restoration in its service territory;

•A $78 million ($58 million after-tax) loss related to investments in nuclear decommissioning trust funds; and

•A $42 million ($31 million after-tax) charge for dismantling costs associated with certain retired electric generation facilities.

The following table presents segment information pertaining to Virginia Power’s operations:

	Dominion Energy Virginia		Corporate and Other			Consolidated Total
(millions)
Three Months Ended June 30, 2023
Operating revenue	$	2,251	$	—		$	2,251
Net income (loss)		392		(60	)		332
Three Months Ended June 30, 2022
Operating revenue	$	2,170	$	5		$	2,175
Net income (loss)		442		(395	)		47
Six Months Ended June 30, 2023
Operating revenue	$	4,635	$	—		$	4,635
Net income (loss)		776		(91	)		685
Six Months Ended June 30, 2022
Operating revenue	$	4,335	$	7		$	4,342
Net income (loss)		958		(554	)		404

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EX-99.2

Exhibit 99.2

GLOSSARY OF TERMS

The following abbreviations or acronyms used in this Form 10-Q are defined below:

Abbreviation or Acronym	Definition
2019 Equity Units	Dominion Energy’s 2019 Series A Equity Units issued in June 2019, initially in the form of 2019 Series A Corporate Units, which consisted of a stock purchase contract and a 1/10 interest in a share of the Series A Preferred Stock
2021 Triennial Review	Virginia Commission review of Virginia Power’s earned return on base rate generation and distribution services for the four successive 12-month test periods beginning January 1, 2017 and ending December 31, 2020
ARO	Asset retirement obligation
bcf	Billion cubic feet
BHE	The legal entity, Berkshire Hathaway Energy Company, one or more of its consolidated subsidiaries (including Eastern Energy Gas Holdings, LLC, Northeast Midstream Partners, LP and Cove Point effective November 2020), or the entirety of Berkshire Hathaway Energy Company and its consolidated subsidiaries
CCR	Coal combustion residual
CCRO	Customer credit reinvestment offset
CO2	Carbon dioxide
Companies	Dominion Energy and Virginia Power, collectively
Contracted Energy	Contracted Energy operating segment, formerly known as the Contracted Assets operating segment
Cooling degree days	Units measuring the extent to which the average daily temperature is greater than 65 degrees Fahrenheit, or 75 degrees Fahrenheit in DESC’s service territory, calculated as the difference between 65 or 75 degrees, as applicable, and the average temperature for that day
Cove Point	Cove Point LNG, LP (formerly known as Dominion Energy Cove Point LNG, LP)
CVOW Commercial Project	A proposed 2.6 GW wind generation facility 27 miles off the coast of Virginia Beach, Virginia in federal waters adjacent to the CVOW Pilot Project and associated interconnection facilities in and around Virginia Beach, Virginia
CVOW Pilot Project	A 12 MW wind generation facility 27 miles off the coast of Virginia Beach, Virginia in federal waters
DECP Holdings	The legal entity DECP Holdings, Inc., which holds Dominion Energy's noncontrolling interest in Cove Point
DEQPS	MountainWest Pipeline Services, Inc. (formerly known as Dominion Energy Questar Pipeline Services, Inc.)
DESC	The legal entity, Dominion Energy South Carolina, Inc., one or more of its consolidated entities or operating segment, or the entirety of Dominion Energy South Carolina, Inc. and its consolidated entities
Dominion Energy	The legal entity, Dominion Energy, Inc., one or more of its consolidated subsidiaries (other than Virginia Power) or operating segments, or the entirety of Dominion Energy, Inc. and its consolidated subsidiaries
Dominion Energy Direct®	A dividend reinvestment and open enrollment direct stock purchase plan
Dominion Energy Questar Pipeline	The legal entity, MountainWest Pipeline, LLC (formerly known as Dominion Energy Questar Pipeline, LLC), one or more of its consolidated subsidiaries (including its 50% noncontrolling interest in White River Hub, LLC), or the entirety of Dominion Energy Questar Pipeline, LLC and its consolidated subsidiaries
Dominion Energy South Carolina	Dominion Energy South Carolina operating segment
Dominion Energy Virginia	Dominion Energy Virginia operating segment

Dominion Privatization	Dominion Utility Privatization, LLC, a joint venture between Dominion Energy and Patriot
East Ohio	The East Ohio Gas Company, doing business as Dominion Energy Ohio
East Ohio Transaction	The proposed sale by Dominion Energy to Enbridge of all issued and outstanding capital stock in Dominion Energy Questar Corporation and its consolidated subsidiaries, which following a proposed reorganization will include East Ohio and Dominion Energy Gas Distribution, LLC, pursuant to a purchase and sale agreement entered into on September 5, 2023
Enbridge	The legal entity, Enbridge Inc., one or more of its consolidated subsidiaries (including Enbridge Elephant Holdings, LLC, Enbridge Parrot Holdings, LLC, and Enbridge Quail Holdings, LLC), or the entirety of Enbridge Inc. and its consolidated subsidiaries
EPA	U.S. Environmental Protection Agency
EPS	Earnings per common share
FERC	Federal Energy Regulatory Commission
Gas Distribution	Gas Distribution operating segment
GHG	Greenhouse gas
GTSA	Virginia Grid Transformation and Security Act of 2018
GW	Gigawatt
Heating degree days	Units measuring the extent to which the average daily temperature is less than 65 degrees Fahrenheit, or 60 degrees Fahrenheit in DESC’s service territory, calculated as the difference between 65 or 60 degrees, as applicable, and the average temperature for that day
Hope	Hope Gas, Inc., doing business as Dominion Energy West Virginia through August 2022
ISO	Independent system operator
Jones Act	The Coastwise Merchandise Statute (commonly known as the Jones Act) 46 U.S.C. §55102 regulating U.S. maritime commerce
Kewaunee	Kewaunee nuclear power station
LNG	Liquefied natural gas
MD&A	Management’s Discussion and Analysis of Financial Condition and Results of Operations
Millstone	Millstone nuclear power station
MW	Megawatt
MWh	Megawatt hour
Order 1000	Order issued by FERC adopting requirements for electric transmission planning, cost allocation and development
Patriot	Patriot Utility Privatizations, LLC, a joint venture between Foundation Infrastructure Partners, LLC and John Hancock Life Insurance Company (U.S.A.) and affiliates
PFAS	Per- and polyfluorinated substances, a group of widely used chemicals that break down very slowly over time in the environment
PJM	PJM Interconnection, LLC
PSNC	Public Service Company of North Carolina, Incorporated, doing business as Dominion Energy North Carolina
PSNC Transaction	The proposed sale by Dominion Energy to Enbridge of all of its membership interests in Fall North Carolina Holdco LLC and its consolidated subsidiaries, which following a proposed reorganization will include PSNC, pursuant to a purchase and sale agreement entered into on September 5, 2023
Q-Pipe Group	Collectively, Dominion Energy Questar Pipeline, DEQPS and MountainWest Energy Holding Company, LLC (formerly known as QPC Holding Company, LLC and its subsidiary MountainWest Southern Trails Pipeline Company (formerly known as Questar Southern Trails Pipeline Company))

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Questar Gas	Questar Gas Company, doing business as Dominion Energy Utah, Dominion Energy Wyoming and Dominion Energy Idaho
Questar Gas Transaction	The proposed sale by Dominion Energy to Enbridge of all of its membership interests in Fall West Holdco LLC and its consolidated subsidiaries, which following a proposed reorganization will include Questar Gas, Wexpro, Wexpro II Company, Wexpro Development Company, Dominion Energy Wexpro Services Company, Questar InfoComm Inc. and Dominion Gas Projects Company, LLC, pursuant to a purchase and sale agreement entered into on September 5, 2023
Regulation Act	Legislation effective July 1, 2007, that amended the Virginia Electric Utility Restructuring Act and fuel factor statute, which legislation is also known as the Virginia Electric Utility Regulation Act, as amended in 2015, 2018 and 2023
RGGI	Regional Greenhouse Gas Initiative
ROE	Return on equity
RTO	Regional transmission organization
SCANA	The legal entity, SCANA Corporation, one or more of its consolidated subsidiaries, or the entirety of SCANA Corporation and its consolidated subsidiaries
SCANA Combination	Dominion Energy’s acquisition of SCANA completed on January 1, 2019 pursuant to the terms of the agreement and plan of merger entered on January 2, 2018 between Dominion Energy and SCANA
SEC	U.S. Securities and Exchange Commission
SEEM	Southeast Energy Exchange Market
Series A Preferred Stock	Dominion Energy’s Series A Cumulative Perpetual Convertible Preferred Stock, without par value, with a liquidation preference of $1,000 per share (previously designated the 1.75% Series A Cumulative Perpetual Convertible Preferred Stock)
Standard & Poor’s	Standard & Poor’s Ratings Services, a division of S&P Global Inc.
VCEA	Virginia Clean Economy Act of March 2020
Virginia Commission	Virginia State Corporation Commission
Virginia Power	The legal entity, Virginia Electric and Power Company, one or more of its consolidated subsidiaries or operating segment, or the entirety of Virginia Electric and Power Company and its consolidated subsidiaries
Wexpro	The legal entity, Wexpro Company, one or more of its consolidated subsidiaries, or the entirety of Wexpro Company and its consolidated subsidiaries

3

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS

OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MD&A discusses Dominion Energy’s results of operations and general financial condition and Virginia Power’s results of operations. MD&A should be read in conjunction with the Companies’ Consolidated Financial Statements. Virginia Power meets the conditions to file under the reduced disclosure format, and therefore has omitted certain sections of MD&A.

Contents of MD&A

MD&A consists of the following information:

•Forward-Looking Statements—Dominion Energy and Virginia Power

•Accounting Matters—Dominion Energy

•Results of Operations—Dominion Energy and Virginia Power

•Segment Results of Operations—Dominion Energy

•Outlook—Dominion Energy

•Liquidity and Capital Resources—Dominion Energy

•Future Issues and Other Matters—Dominion Energy

Forward-Looking Statements

This report contains statements concerning the Companies’ expectations, plans, objectives, future financial performance and other statements that are not historical facts. These statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In most cases, the reader can identify these forward-looking statements by such words as “anticipate,” “estimate,” “forecast,” “expect,” “believe,” “should,” “could,” “plan,” “may,” “continue,” “target” or other similar words.

The Companies make forward-looking statements with full knowledge that risks and uncertainties exist that may cause actual results to differ materially from predicted results. Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Additionally, other factors may cause actual results to differ materially from those indicated in any forward-looking statement. These factors include but are not limited to:

•Unusual weather conditions and their effect on energy sales to customers and energy commodity prices;

•Extreme weather events and other natural disasters, including, but not limited to, hurricanes, high winds, severe storms, earthquakes, flooding, climate changes and changes in water temperatures and availability that can cause outages and property damage to facilities;

•The impact of extraordinary external events, such as the current pandemic health event resulting from COVID-19, and their collateral consequences, including extended disruption of economic activity in our markets and global supply chains;

•Federal, state and local legislative and regulatory developments, including changes in or interpretations of federal and state tax laws and regulations;

•The direct and indirect impacts of implementing recommendations resulting from the business review announced in November 2022;

•Risks of operating businesses in regulated industries that are subject to changing regulatory structures;

•Changes to regulated electric rates collected by the Companies and regulated gas distribution, transportation and storage rates collected by Dominion Energy;

•Changes in rules for RTOs and ISOs in which the Companies join and/or participate, including changes in rate designs, changes in FERC’s interpretation of market rules and new and evolving capacity models;

•Risks associated with Virginia Power’s membership and participation in PJM, including risks related to obligations created by the default of other participants;

•Risks associated with entities in which Dominion Energy shares ownership with third parties, including risks that result from lack of sole decision making authority, disputes that may arise between Dominion Energy and third party participants and difficulties in exiting these arrangements;

4

•Changes in future levels of domestic and international natural gas production, supply or consumption;

•Impacts to Dominion Energy’s noncontrolling interest in Cove Point from fluctuations in future volumes of LNG imports or exports from the U.S. and other countries worldwide or demand for, purchases of, and prices related to natural gas or LNG;

•Timing and receipt of regulatory approvals necessary for planned construction or growth projects and compliance with conditions associated with such regulatory approvals;

•The inability to complete planned construction, conversion or growth projects at all, or with the outcomes or within the terms and time frames initially anticipated, including as a result of increased public involvement, intervention or litigation in such projects;

•Risks and uncertainties that may impact the Companies’ ability to develop and construct the CVOW Commercial Project within the currently proposed timeline, or at all, and consistent with current cost estimates along with the ability to recover such costs from customers;

•Changes to federal, state and local environmental laws and regulations, including those related to climate change, the tightening of emission or discharge limits for GHGs and other substances, more extensive permitting requirements and the regulation of additional substances;

•Cost of environmental strategy and compliance, including those costs related to climate change;

•Changes in implementation and enforcement practices of regulators relating to environmental standards and litigation exposure for remedial activities;

•Difficulty in anticipating mitigation requirements associated with environmental and other regulatory approvals or related appeals;

•Unplanned outages at facilities in which the Companies have an ownership interest;

•The impact of operational hazards, including adverse developments with respect to pipeline and plant safety or integrity, equipment loss, malfunction or failure, operator error and other catastrophic events;

•Risks associated with the operation of nuclear facilities, including costs associated with the disposal of spent nuclear fuel, decommissioning, plant maintenance and changes in existing regulations governing such facilities;

•Changes in operating, maintenance and construction costs;

•Domestic terrorism and other threats to the Companies’ physical and intangible assets, as well as threats to cybersecurity;

•Additional competition in industries in which the Companies operate, including in electric markets in which Dominion Energy’s nonregulated generation facilities operate and potential competition from the development and deployment of alternative energy sources, such as self-generation and distributed generation technologies, and availability of market alternatives to large commercial and industrial customers;

•Competition in the development, construction and ownership of certain electric transmission facilities in the Companies’ service territory in connection with Order 1000;

•Changes in technology, particularly with respect to new, developing or alternative sources of generation and smart grid technologies;

•Changes in demand for the Companies’ services, including industrial, commercial and residential growth or decline in the Companies’ service areas, changes in supplies of natural gas delivered to Dominion Energy’s pipeline system, failure to maintain or replace customer contracts on favorable terms, changes in customer growth or usage patterns, including as a result of energy conservation programs, the availability of energy efficient devices and the use of distributed generation methods;

•Receipt of approvals for, and timing of, closing dates for acquisitions and divestitures;

•Impacts of acquisitions, divestitures, transfers of assets to joint ventures and retirements of assets based on asset portfolio reviews;

•The expected timing and likelihood of the completion of the proposed sale of Dominion Energy’s noncontrolling interest in Cove Point, including the ability to obtain the requisite regulatory approvals and the terms and conditions of such approvals;

•Adverse outcomes in litigation matters or regulatory proceedings, including matters acquired in the SCANA Combination;

•Counterparty credit and performance risk;

•Fluctuations in the value of investments held in nuclear decommissioning trusts by the Companies and in benefit plan trusts by Dominion Energy;

5

•Fluctuations in energy-related commodity prices and the effect these could have on Dominion Energy’s earnings and the Companies’ liquidity position and the underlying value of their assets;

•Fluctuations in interest rates;

•The effectiveness to which existing economic hedging instruments mitigate fluctuations in currency exchange rates of the Euro and Danish Krone associated with certain fixed price contracts for the major offshore construction and equipment components of the CVOW Commercial Project;

•Changes in rating agency requirements or credit ratings and their effect on availability and cost of capital;

•Global capital market conditions, including the availability of credit and the ability to obtain financing on reasonable terms;

•Political and economic conditions, including inflation and deflation;

•Employee workforce factors including collective bargaining agreements and labor negotiations with union employees; and

•Changes in financial or regulatory accounting principles or policies imposed by governing bodies.

Additionally, other risks that could cause actual results to differ from predicted results are set forth in Part I. Item 1A. Risk Factors in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

The Companies’ forward-looking statements are based on beliefs and assumptions using information available at the time the statements are made. The Companies caution the reader not to place undue reliance on their forward-looking statements because the assumptions, beliefs, expectations and projections about future events may, and often do, differ materially from actual results. The Companies undertake no obligation to update any forward-looking statement to reflect developments occurring after the statement is made.

Accounting Matters

As of June 30, 2023, there have been no significant changes with regard to the critical accounting policies and estimates disclosed in MD&A in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. The policies disclosed included the accounting for regulated operations, AROs, income taxes, accounting for derivative contracts and financial instruments at fair value, use of estimates in goodwill impairment testing, use of estimates in long-lived asset and equity method investment impairment testing, held for sale classification and employee benefit plans.

Results of Operations—Dominion Energy

Presented below is a summary of Dominion Energy’s consolidated results:

	2023		2022			$ Change
(millions, except EPS)
Second Quarter
Net income (loss) attributable to Dominion Energy	$	599	$	(453	)	$	1,052
Diluted EPS		0.69		(0.58	)		1.27
Year-To-Date
Net income attributable to Dominion Energy	$	1,596	$	258		$	1,338
Diluted EPS		1.86		0.25			1.61

Overview

Second Quarter 2023 vs. 2022

Net income attributable to Dominion Energy increased $1.1 billion, primarily due to the absences of a loss associated with the sale of Kewaunee, a charge for RGGI compliance costs deemed recovered through base rates and a charge in connection with a comprehensive settlement agreement for Virginia fuel expenses. In addition, there was an increase in net investment earnings on nuclear decommissioning trust funds and increased unrealized gains on economic hedging activities. These increases were partially offset by a decrease in sales to electric utility customers attributable to weather.

Year-To-Date 2023 vs. 2022

Net income attributable to Dominion Energy increased $1.3 billion, primarily due to the absences of a loss associated with the sale of Kewaunee, a charge for RGGI compliance costs deemed recovered through base rates, a charge in connection with a comprehensive settlement agreement for Virginia fuel expenses and a charge to reflect the recognition of deferred taxes on the outside basis of Hope’s stock upon meeting the classification as held for sale. In addition, there was an increase in net investment earnings on nuclear decommissioning trust funds, increased unrealized gains on economic hedging activities and a decrease in storm damage and service

6

restoration costs. These increases were partially offset by a charge associated with the impairment of a corporate office building and a decrease in sales to electric utility customers attributable to weather.

Analysis of Consolidated Operations

Presented below are selected amounts related to Dominion Energy’s results of operations:

	Second Quarter									Year-To-Date
	2023			2022			$ Change			2023			2022			$ Change
(millions)
Operating revenue	$	3,166		$	3,059		$	107		$	7,049		$	6,172		$	877
Electric fuel and other energy-related purchases		939			730			209			1,961			1,408			553
Purchased electric capacity		15			16			(1	)		23			29			(6	)
Purchased gas		49			95			(46	)		172			240			(68	)
Other operations and maintenance		775			850			(75	)		1,517			1,740			(223	)
Depreciation, depletion and amortization		603			600			3			1,221			1,202			19
Other taxes		164			177			(13	)		355			359			(4	)
Impairment of assets and other charges		44			416			(372	)		142			405			(263	)
Losses (gains) on sales of assets		(21	)		636			(657	)		(23	)		608			(631	)
Other income (expense)		314			(285	)		599			590			(242	)		832
Interest and related charges		395			71			324			874			313			561
Income tax expense (benefit)		86			(152	)		238			250			(9	)		259
Net income from discontinued operations    including noncontrolling interests		168			212			(44	)		449			623			(174	)

An analysis of Dominion Energy’s results of operations follows:

Second Quarter 2023 vs. 2022

Operating revenue increased 3%, primarily reflecting:

•A $182 million net increase associated with market prices affecting Millstone, including economic hedging impacts of net realized and unrealized gains on freestanding derivatives ($201 million);

•A $171 million net increase in fuel-related revenue as a result of an increase in commodity costs associated with sales to electric utility retail customers ($206 million) and a decrease in commodity costs associated with sales to gas utility customers ($35 million); and

•A $52 million increase in sales to electric utility retail customers associated with economic and other usage factors.

These increases were partially offset by:

•A $91 million net decrease from electric utility customers who elect to pay market based or other negotiated rates, including settlements of economic hedges at Virginia Power;

•An $89 million decrease in sales to electric utility retail customers, primarily due to a decrease in cooling degree days;

•A $69 million decrease from unplanned outages ($60 million) and planned outages ($9 million) at Millstone; and

•A $29 million decrease from the sale of Hope.

Electric fuel and other energy-related purchases increased 29%, primarily due to higher commodity costs for electric utilities ($206 million) and an increase in the use of purchased renewable energy credits at Virginia Power ($26 million), which are offset in operating revenue and do not impact net income.

Purchased gas decreased 48%, primarily due to a decrease in commodity costs for gas utilities, which are offset in operating revenue and do not impact net income.

Other operations and maintenance decreased 9%, primarily due to a decrease in certain Virginia Power expenditures which are primarily recovered through state- and FERC-regulated rates and do not impact net income ($32 million), partially offset by an increase in outside services ($13 million).

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Impairment of assets and other charges decreased 89%, primarily due to the absence of a charge in connection with a comprehensive settlement agreement for Virginia fuel expenses ($191 million), the absence of a charge for RGGI compliance costs deemed recovered through base rates ($180 million) and a net decrease in dismantling costs and other activities associated with certain retired electric generation facilities at Virginia Power ($38 million), partially offset by a charge for the write-off of certain previously deferred amounts related to the cessation of certain riders effective July 2023 ($36 million).

Gains on sales of assets increased $657 million, primarily due to the absence of a loss associated with the sale of Kewaunee.

Other income increased $599 million, primarily due to net investment gains in 2023 compared to net investment losses in 2022 on nuclear decommissioning trust funds.

Interest and related charges increased $324 million, primarily due to lower unrealized gains in 2023 compared to 2022 associated with freestanding derivatives ($205 million), higher interest rates on commercial paper and long-term debt ($56 million), increased commercial paper and long-term debt borrowings ($44 million) and higher interest rates on variable rate debt and cash flow interest rate swaps ($37 million).

Income tax expense increased $238 million, primarily due to higher pre-tax income ($328 million), partially offset by lower interim period allocation of investment tax credits ($34 million), excess deferred income tax amortization ($20 million) and decreased consolidated state deferred tax expense on pre-tax gains from nuclear decommissioning trusts and economic hedges ($24 million).

Net income from discontinued operations including noncontrolling interests decreased 21%, primarily due to higher interest rates on variable rate debt secured by Dominion Energy's 50% noncontrolling interest in Cove Point ($17 million) and an impairment charge of certain nonregulated solar assets ($11 million).

Year-To-Date 2023 vs. 2022

Operating revenue increased 14%, primarily reflecting:

•A $755 million net increase associated with market prices affecting Millstone, including economic hedging impacts of net realized and unrealized gains on freestanding derivatives ($876 million);

•A $490 million net increase in fuel-related revenue as a result of an increase in commodity costs associated with sales to electric utility retail customers ($522 million) and a decrease in commodity costs associated with sales to gas utility customers ($32 million);

•An $89 million increase in sales to electric utility retail customers associated with economic and other usage factors;

•A $55 million increase to recover the costs and an authorized return, as applicable, associated with Virginia Power non-fuel riders; and

•A $24 million increase in sales to electric utility retail customers associated with growth.

These increases were partially offset by:

•A $206 million decrease in sales to electric utility retail customers, primarily due to a decrease in heating degree days during the heating season ($117 million) and a decrease in cooling degree days during the cooling season ($89 million);

•A $128 million net decrease from electric utility customers who elect to pay market based or other negotiated rates, including settlements of economic hedges at Virginia Power;

•A $95 million decrease from the sale of Hope; and

•A $69 million decrease from unplanned outages ($60 million) and planned outages ($9 million) at Millstone.

Electric fuel and other energy-related purchases increased 39%, primarily due to higher commodity costs for electric utilities ($522 million) and an increase in the use of purchased renewable energy credits at Virginia Power ($54 million), which are offset in operating revenue and do not impact net income.

Purchased gas decreased 28%, primarily due to a a decrease from the sale of Hope ($37 million) and a decrease in commodity costs for gas utilities ($32 million), which are offset in operating revenue and do not impact net income.

Other operations and maintenance decreased 13%, primarily due to a decrease in storm damage and restoration costs in Virginia Power’s service territory ($111 million) and a decrease in certain Virginia Power expenditures which are primarily recovered through

8

state- and FERC-regulated rates and do not impact net income ($103 million), partially offset by an increase in outside services ($26 million).

Impairment of assets and other charges decreased 65%, primarily due to the absence of a charge in connection with a comprehensive settlement agreement for Virginia fuel expenses ($191 million), the absence of a charge for RGGI compliance costs deemed recovered through base rates ($180 million) and a net decrease in dismantling costs and other activities associated with certain retired electric generation facilities at Virginia Power ($39 million), partially offset by the impairment of a corporate office building ($91 million) and a charge for the write-off of certain previously deferred amounts related to the cessation of certain riders effective July 2023 ($36 million).

Gains on sales of assets increased $631 million, primarily due to the absence of a loss associated with the sale of Kewaunee ($649 million) and a gain on the transfer of certain utility property in South Carolina ($20 million), partially offset by the absence of a gain on the contribution of certain privatization operations to Dominion Privatization ($23 million).

Other income increased $832 million, primarily due to net investment gains in 2023 compared to net investment losses in 2022 on nuclear decommissioning trust funds.

Interest and related charges increased $561 million, primarily due to unrealized losses in 2023 compared to unrealized gains in 2022 associated with freestanding derivatives ($336 million), higher interest rates on commercial paper and long-term debt ($101 million), increased commercial paper and long-term debt borrowings ($80 million), higher interest rates on variable rate debt and cash flow interest rate swaps ($77 million) and lower premiums received on interest rate derivatives ($24 million).

Income tax expense increased $259 million, primarily due to higher pre-tax income ($440 million), partially offset by the absence of a charge to reflect the recognition of deferred taxes on the outside basis of Hope’s stock upon meeting the classification as held for sale ($90 million) and decreased consolidated state deferred tax expense on pre-tax gains from nuclear decommissioning trusts and economic hedges ($30 million).

Net income from discontinued operations including noncontrolling interests decreased 28%, primarily due to lower unrealized gains on interest rate derivatives for economic hedging of debt secured by Dominion Energy's 50% noncontrolling interest in Cove Point ($107 million), higher interest rates on variable rate debt secured by Dominion Energy's 50% noncontrolling interest in Cove Point ($36 million), an increase in interest expense primarily associated with debt issuances in 2022 ($25 million) and an impairment charge of certain nonregulated solar assets ($11 million), partially offset by an increase following the approved base rate case for Questar Gas ($25 million).

Results of Operations—Virginia Power

Presented below is a summary of Virginia Power’s consolidated results:

	Second Quarter						Year-To-Date
	2023		2022		$ Change		2023		2022		$ Change
(millions)
Net income	$	332	$	47	$	285	$	685	$	404	$	281

Overview

Second Quarter 2023 vs. 2022

Net income increased $285 million, primarily due to the absences of a charge for RGGI compliance costs deemed recovered through base rates and a charge in connection with a comprehensive settlement agreement for Virginia fuel expenses as well as an increase in net investment earnings on nuclear decommissioning trust funds, partially offset by a decrease in sales to electric utility customers attributable to weather.

Year-To-Date 2023 vs. 2022

Net income increased 70%, primarily due to the absences of a charge for RGGI compliance costs deemed recovered through base rates and a charge in connection with a comprehensive settlement agreement for Virginia fuel expenses as well as an increase in net investment earnings on nuclear decommissioning trust funds and a decrease in storm damage and service restoration costs, partially offset by a decrease in sales to electric utility customers attributable to weather.

9

Analysis of Consolidated Operations

Presented below are selected amounts related to Virginia Power’s results of operations:

	Second Quarter								Year-To-Date
	2023		2022			$ Change			2023		2022			$ Change
(millions)
Operating revenue	$	2,251	$	2,175		$	76		$	4,635	$	4,342		$	293
Electric fuel and other energy-related purchases		706		533			173			1,505		1,049			456
Purchased electric capacity		10		11			(1	)		18		22			(4	)
Other operations and maintenance		443		478			(35	)		884		1,048			(164	)
Depreciation and amortization		432		425			7			879		854			25
Other taxes		67		83			(16	)		152		158			(6	)
Impairment of assets and other charges		38		409			(371	)		45		413			(368	)
Other income (expense)		48		(44	)		92			84		(40	)		124
Interest and related charges		182		145			37			363		293			70
Income tax expense		89		—			89			188		61			127

An analysis of Virginia Power’s results of operations follows:

Second Quarter 2023 vs. 2022

Operating revenue increased 3%, primarily reflecting:

•A $169 million increase in fuel-related revenue as a result of a net increase in commodity costs associated with sales to electric utility retail customers; and

•A $54 million increase in sales to electric utility retail customers associated with economic and other usage factors.

These increases were partially offset by:

•A $77 million net decrease from electric utility customers who elect to pay market based or other negotiated rates, including settlements of economic hedges; and

•A $55 million decrease in sales to electric utility retail customers, primarily due to a decrease in cooling degree days.

Electric fuel and other energy-related purchases increased 32%, primarily due to higher commodity costs for electric utilities ($169 million) and an increase in the use of purchased renewable energy credits ($26 million), which are offset in operating revenue and do not impact net income.

Other operations and maintenance decreased 7%, primarily due to a decrease in certain expenditures which are primarily recovered through state- and FERC-regulated rates and do not impact net income ($32 million) and a decrease in bad debt expense ($10 million), partially offset by an increase in outside services ($13 million).

Other taxes decreased 19%, primarily due to lower property taxes.

Impairment of assets and other charges decreased 91%, primarily due to the absence of a charge in connection with a comprehensive settlement agreement for Virginia fuel expenses ($191 million), the absence of a charge for RGGI compliance costs deemed recovered through base rates ($180 million) and a net decrease in dismantling costs and other activities associated with certain retired electric generation facilities ($38 million), partially offset by a charge for the write-off of certain previously deferred amounts related to the cessation of certain riders effective July 2023 ($36 million).

Other income increased $92 million, primarily due to net investment gains in 2023 compared to net investment losses in 2022 on nuclear decommissioning trust funds.

Interest and related charges increased 26%, primarily due to increased commercial paper, long-term debt and intercompany borrowings with Dominion Energy ($39 million) and higher interest rates on commercial paper, long-term debt and intercompany borrowings with Dominion Energy ($11 million).

Income tax expense increased $89 million, primarily due to higher pre-tax income.

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Year-To-Date 2023 vs. 2022

Operating revenue increased 7%, primarily reflecting:

•A $418 million increase in fuel-related revenue as a result of a net increase in commodity costs associated with sales to electric utility retail customers;

•A $89 million increase in sales to electric utility retail customers associated with economic and other usage factors;

•A $55 million increase to recover the costs and an authorized return, as applicable, associated with non-fuel riders; and

•A $12 million increase in sales to electric utility retail customers associated with growth.

These increases were partially offset by:

•A $146 million decrease in sales to electric utility retail customers from a decrease in heating degree days during the heating season ($91 million) and a decrease in cooling degree days during the cooling season ($55 million); and

•A $105 million net decrease from electric utility customers who elect to pay market based or other negotiated rates, including settlements of economic hedges.

Electric fuel and other energy-related purchases increased 43%, primarily due to higher commodity costs for electric utilities ($418 million) and an increase in the use of purchased renewable energy credits ($54 million), which are offset in operating revenue and do not impact net income.

Other operations and maintenance decreased 16%, primarily due to a decrease in storm damage and restoration costs ($111 million) and a decrease in certain expenditures which are primarily recovered through state- and FERC-regulated rates and do not impact net income ($103 million), partially offset by an increase in outside services ($29 million) and an increase in salaries, wages and benefits and administrative costs ($18 million).

Impairment of assets and other charges decreased 89%, primarily due to the absence of a charge in connection with a comprehensive settlement agreement for Virginia fuel expenses ($191 million), the absence of a charge for RGGI compliance costs deemed recovered through base rates ($180 million) and a net decrease in dismantling costs and other activities associated with certain retired electric generation facilities ($39 million), partially offset by a charge for the write-off of certain previously deferred amounts related to the cessation of certain riders effective July 2023 ($36 million).

Other income increased $124 million, primarily due to net investment gains in 2023 compared to net investment losses in 2022 on nuclear decommissioning trust funds.

Interest and related charges increased 24%, primarily due to increased commercial paper, long-term debt and intercompany borrowings with Dominion Energy ($72 million) and higher interest rates on commercial paper, long-term debt and intercompany borrowings with Dominion Energy ($22 million), partially offset by decreased interest expense associated with rider deferrals ($19 million).

Income tax expense increased $127 million, primarily due to higher pre-tax income ($101 million) and lower investment tax credits ($31 million).

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Segment Results of Operations

Segment results include the impact of intersegment revenues and expenses, which may result in intersegment profit and loss. In September 2023, Dominion Energy revised its operating segments subsequent to entering agreements for the East Ohio, PSNC and Questar Gas Transactions as well as completing the sale of its noncontrolling interest in Cove Point. See Notes 1 and 21 to the Consolidated Financial Statements for more information. The historical information presented herein has been recast to reflect the current segment presentation.Presented below is a summary of contributions by Dominion Energy’s operating segments to net income (loss) attributable to Dominion Energy:

	Net Income (Loss) Attributable to Dominion Energy									EPS(1)
	2023			2022			$ Change			2023			2022			$ Change
(millions, except EPS)
Second Quarter
Dominion Energy Virginia	$	392		$	442		$	(50	)	$	0.47		$	0.54		$	(0.07	)
Dominion Energy South Carolina		68			124			(56	)		0.08			0.15			(0.07	)
Contracted Energy		(44	)		(27	)		(17	)		(0.05	)		(0.03	)		(0.02	)
Corporate and Other		183			(992	)		1,175			0.19			(1.24	)		1.43
Consolidated	$	599		$	(453	)	$	1,052		$	0.69		$	(0.58	)	$	1.27
Year-To-Date
Dominion Energy Virginia	$	776		$	958		$	(182	)	$	0.93		$	1.18		$	(0.25	)
Dominion Energy South Carolina		159			233			(74	)		0.19			0.29			(0.10	)
Contracted Energy		69			30			39			0.08			0.04			0.04
Corporate and Other		592			(963	)		1,555			0.66			(1.26	)		1.92
Consolidated	$	1,596		$	258		$	1,338		$	1.86		$	0.25		$	1.61

(1) Consolidated results are presented on a diluted EPS basis. The dilutive impacts, primarily consisting of potential shares which had not yet been issued, are included within the results of the Corporate and Other segment. EPS contributions for Dominion Energy’s operating segments are presented utilizing basic average shares outstanding for the period.

Dominion Energy Virginia

Presented below are selected operating statistics related to Dominion Energy Virginia’s operations:

	Second Quarter							Year-To-Date
	2023		2022		% Change			2023		2022		% Change
Electricity delivered (million MWh)		21.8		20.7		5	%		43.5		43.0		1	%
Electricity supplied (million MWh):
Utility		20.7		20.8		—			42.5		43.1		(1	)
Non-Jurisdictional		0.6		0.5		20			0.9		0.8		13
Degree days (electric distribution and utility service area):
Cooling		358		502		(29	)		361		513		(30	)
Heating		204		297		(31	)		1,675		2,192		(24	)
Average electric distribution customer accounts    (thousands)		2,746		2,720		1			2,743		2,718		1

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Presented below, on an after-tax basis, are the key factors impacting Dominion Energy Virginia’s net income contribution:

	Second Quarter 2023 vs. 2022 Increase (Decrease)						Year-To-Date 2023 vs. 2022 Increase (Decrease)
	Amount			EPS			Amount			EPS
(millions, except EPS)
Weather	$	(42	)	$	(0.05	)	$	(109	)	$	(0.13	)
Customer usage and other factors		42			0.05			75			0.09
Customer-elected rate impacts		(57	)		(0.07	)		(78	)		(0.10	)
Rider equity return		17			0.02			49			0.06
Storm damage and restoration costs		5			0.01			13			0.02
Depreciation and amortization		(6	)		(0.01	)		(12	)		(0.01	)
Renewable energy investment tax credits		4			—			(53	)		(0.07	)
Interest expense, net		(10	)		(0.01	)		(23	)		(0.03	)
Other		(3	)		—			(44	)		(0.06	)
Share dilution		—			(0.01	)		—			(0.02	)
Change in net income contribution	$	(50	)	$	(0.07	)	$	(182	)	$	(0.25	)

Dominion Energy South Carolina

Presented below are selected operating statistics related to Dominion Energy South Carolina’s operations:

	Second Quarter							Year-To-Date
	2023		2022		% Change			2023		2022		% Change
Electricity delivered (million MWh)		5.2		5.9		(12	%)		10.2		11.1		(8	%)
Electricity supplied (million MWh)		5.5		6.2		(11	)		10.7		11.7		(9	)
Degree days (electric distribution service areas):
Cooling		113		253		(55	)		114		253		(55	)
Heating		25		33		(24	)		484		783		(38	)
Gas distribution throughput (bcf):
Sales		16		15		7			33		35		(6	)
Average distribution customer accounts (thousands):
Electric		789		776		2			786		774		2
Gas		441		425		4			439		424		4

Presented below, on an after-tax basis, are the key factors impacting Dominion Energy South Carolina’s net income contribution:

	Second Quarter 2023 vs. 2022 Increase (Decrease)						Year-To-Date 2023 vs. 2022 Increase (Decrease)
	Amount			EPS			Amount			EPS
(millions, except EPS)
Weather	$	(26	)	$	(0.03	)	$	(45	)	$	(0.06	)
Customer usage and other factors		3			—			10			0.01
Customer-elected rate impacts		(11	)		(0.01	)		(18	)		(0.02	)
Base rate case & Natural Gas Rate Stabilization Act impacts		1			—			6			0.01
Capital cost rider		(2	)		—			(4	)		—
Gains on sales of property		(12	)		(0.01	)		(12	)		(0.01	)
Depreciation and amortization		(4	)		—			(7	)		(0.01	)
Interest expense, net		(8	)		(0.01	)		(14	)		(0.02	)
Other		3			(0.01	)		10			0.01
Share dilution		—			—			—			(0.01	)
Change in net income contribution	$	(56	)	$	(0.07	)	$	(74	)	$	(0.10	)

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Contracted Energy

Presented below are selected operating statistics related to Contracted Energy's operations:

	Second Quarter							Year-To-Date
	2023		2022		% Change			2023		2022		% Change
Electricity supplied (million MWh)		2.4		3.4		(29	%)		7.0		8.0		(13	)	%

Presented below, on an after-tax basis, are the key factors impacting Contracted Energy's net income contribution:

	Second Quarter 2023 vs. 2022 Increase (Decrease)						Year-To-Date 2023 vs. 2022 Increase (Decrease)
	Amount			EPS			Amount			EPS
(millions, except EPS)
Margin	$	(24	)	$	(0.03	)	$	22		$	0.03
Planned outage costs(1)		3			—			6			0.01
Unplanned outage costs(1)		(3	)		—			(2	)		—
Depreciation and amortization		6			0.01			11			0.01
Other		1			—			2			(0.01	)
Share dilution		—			—			—			—
Change in net income contribution	$	(17	)	$	(0.02	)	$	39		$	0.04

(1)Excludes earnings impact from lower energy margins associated with a Millstone outage.

Corporate and Other

Presented below are the Corporate and Other segment’s after-tax results:

	Second Quarter									Year-To-Date
	2023			2022			$ Change			2023			2022			$ Change
(millions, except EPS)
Specific items attributable to operating    segments	$	66		$	(1,306	)	$	1,372		$	370		$	(1,658	)	$	2,028
Specific items attributable to Corporate and    Other segment		205			342			(137	)		365			714			(349	)
Total specific items		271			(964	)		1,235			735			(944	)		1,679
Other corporate and other operations:
Interest expense, net		(131	)		(82	)		(49	)		(250	)		(162	)		(88	)
Other		43			54			(11	)		107			143			(36	)
Total other corporate and other operations		(88	)		(28	)		(60	)		(143	)		(19	)		(124	)
Total net income (expense)	$	183		$	(992	)	$	1,175		$	592		$	(963	)	$	1,555
EPS impact	$	0.19		$	(1.24	)	$	1.43		$	0.66		$	(1.26	)	$	1.92

Corporate and Other includes specific items attributable to Dominion Energy’s primary operating segments that are not included in profit measures evaluated by executive management in assessing the segments' performance or in allocating resources. See Note 21 to the Consolidated Financial Statements in this report for discussion of these items in more detail. Corporate and Other also includes items attributable to the Corporate and Other segment. For the three months ended June 30, 2023, this primarily included $168 million net income from discontinued operations, primarily associated with operations included in the East Ohio, PSNC and Questar Gas Transactions and Dominion Energy's noncontrolling interest in Cove Point, and a $36 million after-tax gain for derivative mark-to-market changes. For the six months ended June 30, 2023, this primarily included $449 million net income from discontinued operations, primarily associated with operations included in the East Ohio, PSNC and Questar Gas Transactions and Dominion Energy's noncontrolling interest in Cove Point and a $68 million after-tax charge associated with the impairment of a corporate office building.

For the three months ended June 30, 2022, other than the effects of required interim period provision for income taxes, this primarily included $212 million net income from discontinued operations, primarily associated with operations included in the East Ohio, PSNC and Questar Gas Transactions and Dominion Energy's noncontrolling interest in Cove Point and a $187 million after-tax benefit for derivative mark-to-market changes. For the six months ended June 30, 2022, other than the effects of required interim period provision for income taxes, this primarily included $623 million net income from discontinued operations, primarily associated with operations

14

included in the East Ohio, PSNC and Questar Gas Transactions and Dominion Energy's noncontrolling interest in Cove Point, a $239 million after-tax benefit for derivative mark-to-market changes and a $90 million charge to reflect the recognition of deferred taxes on the outside basis of Hope’s stock upon meeting the classification as held for sale.

Outlook

As of June 30, 2023, there have been no material changes to Dominion Energy’s 2023 outlook as described in Item 7. MD&A in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. As discussed in Future Issues and Other Matters, legislation enacted in Virginia in April 2023 is expected to decrease Dominion Energy’s 2023 net income for riders combined into base rates effective July 2023.

Liquidity and Capital Resources

Dominion Energy depends on both cash generated from operations and external sources of liquidity to provide working capital and as a bridge to long-term financings. Dominion Energy’s material cash requirements include capital and investment expenditures, repaying short-term and long-term debt obligations and paying dividends on its common and preferred stock. This section should be read in conjunction with Item 7. MD&A in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Analysis of Cash Flows

Presented below are selected amounts related to Dominion Energy’s cash flows:

	2023			2022
(millions)
Cash, restricted cash and equivalents at January 1	$	341		$	408
Cash flows provided by (used in):
Operating activities		3,194			1,361
Investing activities		(5,014	)		(5,148	)
Financing activities		1,794			3,786
Net increase (decrease) in cash, restricted cash and equivalents		(26	)		(1	)
Cash, restricted cash and equivalents at June 30	$	315		$	407

Operating Cash Flows

Net cash provided by Dominion Energy's operating activities increased $1.8 billion, inclusive of a $280 million decrease from discontinued operations. Net cash provided by continuing operations increased $2.1 billion primarily due to higher deferred fuel and purchased gas cost recoveries ($1.5 billion), lower margin deposits ($602 million), a decrease in refund payments to Virginia electric customers associated with the settlement of the 2021 Triennial Review ($282 million), partially offset by an increase in interest payments driven by higher interest rates and borrowings ($252 million).

Investing Cash Flows

Net cash used in Dominion Energy’s investing activities decreased $134 million, primarily due to the absence of an issuance of a short-term deposit ($2.0 billion) and lower acquisitions of solar development projects ($109 million), substantially offset by an increase in plant construction and other property additions ($1.6 billion), a decrease in proceeds from the sale of assets and equity method investments ($135 million) and the absence of withdrawals from Kewaunee's nuclear decommissioning trust ($80 million).

Financing Cash Flows

Net cash provided by Dominion Energy's financing activities decreased $2.0 billion primarily due to a $2.9 billion decrease due to net repayments of long-term debt in 2023 versus net issuances in 2022, the absence of the settlement of the stock purchase contract component of the 2019 Equity Units in 2022 ($1.6 billion) and a decrease in supplemental credit facility borrowings ($450 million), partially offset by the issuance of 364-day term loan facility borrowings ($2.5 billion) and higher net issuances of short-term debt ($387 million).

Credit Facilities and Short-Term Debt

As discussed in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, Dominion Energy generally uses proceeds from short-term borrowings, including commercial paper, to satisfy short-term cash requirements not met through cash from operations. The levels of borrowing may vary significantly during the course of the year, depending on the timing and amount of cash requirements not satisfied by cash from operations. There have been no significant changes to Dominion Energy’s use of credit facilities and/or short-term debt during the six months ended June 30, 2023.

15

Joint Revolving Credit Facility

Dominion Energy maintains a $6.0 billion joint revolving credit facility which provides for a discount in the pricing of certain annual fees and amounts borrowed by Dominion Energy under the facility if Dominion Energy achieves certain annual renewable electric generation and diversity and inclusion objectives. At June 30, 2023, Dominion Energy had $1.8 billion of unused capacity under its joint revolving credit facility. See Note 16 to the Consolidated Financial Statements in this report for the balances of commercial paper and letters of credit outstanding.

Dominion Energy Reliability InvestmentSM Program

Dominion Energy has an effective shelf registration statement with the SEC for the sale of up to $3.0 billion of variable denomination floating rate demand notes, called Dominion Energy Reliability InvestmentSM. The registration limits the principal amount that may be outstanding at any one time to $1.0 billion. The notes are offered on a continuous basis and bear interest at a floating rate per annum determined by the Dominion Energy Reliability Investment Committee, or its designee, on a weekly basis. The notes have no stated maturity date, are non-transferable and may be redeemed in whole or in part by Dominion Energy or at the investor’s option at any time. At June 30, 2023, Dominion Energy’s Consolidated Balance Sheets include $403 million with respect to such notes presented within short-term debt. The proceeds are used for general corporate purposes and to repay debt.

Other Facilities

In addition to the primary sources of short-term liquidity discussed above, from time to time Dominion Energy enters into separate supplementary credit facilities or term loans as discussed in Note 16 to the Consolidated Financial Statements in this report.

In January 2023, Dominion Energy entered into a $2.5 billion 364-day term loan facility which bears interest at a variable rate and will mature in January 2024 with the proceeds to be used to repay existing long-term debt and short-term debt upon maturity and for other general corporate purposes. Concurrently, Dominion Energy borrowed an initial $1.0 billion with the proceeds used to repay long-term debt. In February and March 2023, Dominion Energy borrowed $500 million and $1.0 billion, respectively, with the proceeds used for general corporate purposes and to repay long-term debt.

In July 2023, Dominion Energy entered into two $600 million 364-day term loan facilities which bear interest at a variable rate and will mature in July 2024 with the proceeds to be used to repay existing long-term debt and/or short-term debt upon maturity and for other general corporate purposes. Subsequently in July 2023, Dominion Energy borrowed an initial $750 million in the aggregate under these facilities with the proceeds used to repay short-term debt and for general corporate purposes. Dominion Energy is permitted to make up to three additional borrowings under each agreement through November 2023, at which point any unused capacity will cease to be available to Dominion Energy. The agreements contain certain mandatory early repayment provisions, including that any after-tax proceeds in connection with a sale of Dominion Energy’s noncontrolling interest in Cove Point, following the repayment of DECP Holding’s term loan secured by its noncontrolling interest in Cove Point, be applied to any outstanding borrowings under the facilities.

Long-Term Debt

Sustainability Revolving Credit Agreement

Dominion Energy maintains a $900 million Sustainability Revolving Credit Agreement which matures in 2024 and bears interest at a variable rate. The facility offers a reduced interest rate margin with respect to borrowed amounts allocated to certain environmental sustainability or social investment initiatives. In March 2023, Dominion Energy borrowed $450 million with the proceeds used for general corporate purposes. In April 2023, Dominion Energy repaid $450 million borrowed for general corporate purposes. At June 30, 2023, Dominion Energy had $450 million borrowed to support environmental sustainability and social investment initiatives.

Issuances and Borrowings of Long-Term Debt

During the six months ended June 30, 2023, Dominion Energy issued or borrowed the following long-term debt. Unless otherwise noted, the proceeds were used for the repayment of existing indebtedness and for general corporate purposes.

Month	Type	Public / Private	Entity	Principal		Rate			Stated Maturity
				(millions)
March	Senior notes	Public	Virginia Power	$	750		5.000	%	2033
March	Senior notes	Public	Virginia Power		750		5.450	%	2053
Total issuances and borrowings				$	1,500

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Dominion Energy currently meets the definition of a well-known seasoned issuer under SEC rules governing the registration, communication and offering processes under the Securities Act of 1933, as amended. The rules provide for a streamlined shelf registration process to provide registrants with timely access to capital. This allows Dominion Energy to use automatic shelf registration statements to register any offering of securities, other than those for exchange offers or business combination transactions.

As the comprehensive business review announced in November 2022 is still in progress, Dominion Energy is uncertain as to the amount of long-term debt it anticipates issuing in 2023. Dominion Energy expects to issue long-term debt to satisfy cash needs for capital expenditures and maturing long-term debt to the extent such amounts are not satisfied from cash available from operations following the payment of dividends and any borrowings made from unused capacity of Dominion Energy’s credit facilities discussed above. The raising of external capital is subject to certain regulatory requirements, including registration with the SEC for certain issuances.

Repayments, Repurchases and Redemptions of Long-Term Debt

Dominion Energy may from time to time reduce its outstanding debt and level of interest expense through redemption of debt securities prior to maturity or repurchases of debt securities in the open market, in privately negotiated transactions, through tender offers or otherwise.

The following long-term debt was repaid, repurchased or redeemed during the six months ended June 30, 2023:

Month	Type	Entity	Principal (1)		Rate	Stated Maturity
			(millions)
Debt scheduled to mature in 2023		Multiple	$	1,787	various
Early redemptions
None
Total repayments, repurchases and redemptions			$	1,787

(1) Total amount redeemed prior to maturity includes remaining principal plus accrued interest.

See Note 18 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 for additional information regarding scheduled maturities of Dominion Energy’s long-term debt, including related average interest rates.

As discussed in Note 10 to the Consolidated Financial Statements in this report, DECP Holding's term loan secured by its noncontrolling interest in Cove Point is required to be repaid in connection with closing of Dominion Energy's July 2023 agreement with BHE for the sale of its 50% noncontrolling limited partnership interest in Cove Point, which is expected to occur by the end of 2023.

17

Remarketing of Long-Term Debt

In June 2023, Virginia Power remarketed three series of tax-exempt bonds, with an aggregate outstanding principal of $160 million to new investors. All three bonds will bear interest at a coupon of 3.65% until October 2027, after which they will bear interest at a market rate to be determined at that time. Dominion Energy does not expect to remarket any other long-term debt in 2023.

Credit Ratings

As discussed in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, Dominion Energy’s credit ratings affect its liquidity, cost of borrowing under credit facilities and collateral posting requirements under commodity contracts, as well as the rates at which it is able to offer debt securities. The credit ratings for Dominion Energy are affected by its financial profile, mix of regulated and nonregulated businesses and respective cash flows, changes in methodologies used by the ratings agencies and event risk, if applicable, such as major acquisitions or dispositions. A credit rating is not a recommendation to buy, sell or hold securities and should be evaluated independently of any other rating. In April 2023, Standard & Poor’s affirmed its credit ratings but revised its outlook for Dominion Energy from stable to negative. Dominion Energy cannot predict the potential impact the negative outlook at Standard & Poor’s could have on its liquidity, cost of borrowing under credit facilities and collateral posting requirements under commodity contracts, as well as the rates at which it is able to offer debt securities. There have been no other changes in Dominion Energy’s credit ratings from those described in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Financial Covenants

As discussed in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, Dominion Energy is subject to various covenants present in the enabling agreements underlying Dominion Energy’s debt. As of June 30, 2023, there have been no material changes to covenants, nor any events of default under Dominion Energy’s covenants.

Common Stock, Preferred Stock and Other Equity Securities

In the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, there is a discussion of Dominion Energy’s existing equity financing programs, including an at-the-market program and Dominion Energy Direct®. During the six months ended June 30, 2023, Dominion Energy issued $85 million of stock through these programs. Dominion Energy's at-the-market program expired in June 2023. See Note 16 to the Consolidated Financial Statements in this report for additional information.

As the comprehensive business review announced in November 2022 is still in progress, Dominion Energy is uncertain as to the amount of common stock that it anticipates issuing in 2023. However, Dominion Energy anticipates raising similar amounts of capital through Dominion Energy Direct® in 2023 compared to 2022 and 2021. The raising of external capital is subject to certain regulatory requirements, including registration with the SEC for certain issuances.

As of June 30, 2023, there have been no material changes to the Board of Directors authorization to repurchase Dominion Energy stock, or the remaining available capacity under this authorization, disclosed in the Repurchases of Equity Securities section of MD&A in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. Dominion Energy has not repurchased through June 30 and does not plan to repurchase in the remainder of 2023 any shares of its common stock, except for shares tendered by employees to satisfy tax withholding obligations on vested restricted stock.

Capital Expenditures

As of June 30, 2023, there have been no material changes to Dominion Energy’s expectation for planned capital expenditures as disclosed in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Dividends

Dominion Energy believes that its operations provide a stable source of cash flow to contribute to planned levels of capital expenditures and maintain or grow the dividend on common shares. See Note 16 to the Consolidated Financial Statements in this report for additional information regarding Dominion Energy’s outstanding preferred stock and associated dividend rates.

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Subsidiary Dividend Restrictions

As of June 30, 2023, there have been no material changes to the subsidiary dividend restrictions disclosed in the Dividends section of MD&A in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Collateral and Credit Risk

As of June 30, 2023, there have been no material changes to the collateral requirements disclosed in the Collateral and Credit Risk section of MD&A in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Dominion Energy’s exposure to potential concentrations of credit risk results primarily from its energy marketing and price risk management activities. Presented below is a summary of Dominion Energy’s credit exposure at June 30, 2023 for these activities. Gross credit exposure for each counterparty is calculated as outstanding receivables plus any unrealized on- or off-balance sheet exposure, taking into account contractual netting rights.

	Gross Credit Exposure		Credit Collateral		Net Credit Exposure
(millions)
Investment grade(1)	$	166	$	—	$	166
Non-investment grade(2)		2		—		2
No external ratings:
Internally rated—investment grade(3)		15		2		13
Internally rated—non-investment grade(4)		28		1		27
Total(5)	$	211	$	3	$	208

(1)Designations as investment grade are based upon minimum credit ratings assigned by Moody’s Investors Service and Standard & Poor’s. The five largest counterparty exposures, combined, for this category represented approximately 55% of the total net credit exposure.

(2)The five largest counterparty exposures, combined, for this category represented approximately 1% of the total net credit exposure.

(3)The five largest counterparty exposures, combined, for this category represented approximately 6% of the total net credit exposure.

(4)The five largest counterparty exposures, combined, for this category represented approximately 9% of the total net credit exposure.

(5)Excludes long-term purchase power agreements entered to satisfy legislative or state regulatory commission requirements.

Fuel and Other Purchase Commitments

There have been no material changes outside of the ordinary course of business to Dominion Energy’s fuel and other purchase commitments included in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Other Material Cash Requirements

As of June 30, 2023, there have been no material changes outside of the ordinary course of business to Dominion Energy’s other material cash requirements included in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. Such obligations include:

•Operating and finance lease obligations – See Note 14 to the Consolidated Financial Statements in this report;

•Regulatory liabilities – See Note 12 to the Consolidated Financial Statements in this report;

•AROs – See Note 14 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022;

•Employee benefit plan obligations – See Note 22 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022;

•Charitable commitments – See Note 23 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022;

•Off-balance sheet leasing arrangements – See Note 15 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022; and

•Guarantees – See Note 17 to the Consolidated Financial Statements in this report.

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Future Issues and Other Matters

See Item 1. Business, Future Issues and Other Matters in MD&A and Notes 13 and 23 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 and Notes 13 and 17 to the Consolidated Financial Statements in this report for additional information on various environmental, regulatory, legal and other matters that may impact future results of operations, financial condition and/or cash flows.

Business Review

In November 2022, Dominion Energy announced the commencement of a business review of value-maximizing strategic business actions, alternatives to its current business mix and capital allocation and regulatory options which may assist customers to manage costs and provide greater predictability to its long-term, state-regulated utility value proposition. In April 2023, the legislative process in Virginia was substantially completed resulting in new legislation which will shift $350 million of annual revenue requirement for costs currently recovered through riders into base rates effective July 2023, eliminate the ability of Virginia Power to utilize CCROs and adjust the parameters for determining an authorized ROE and revenue sharing. In addition, new legislation allows Virginia Power to apply for the securitization of certain deferred fuel costs as well as seek approval for a noncontrolling equity financing partner for the CVOW Commercial Project. In July 2023, Dominion Energy entered an agreement to sell its 50% noncontrolling limited partner interest in Cove Point to BHE as discussed in Note 10 to the Consolidated Financial Statements in this report. As part of the on-going business review, Dominion Energy may consider additional divestiture of all or a portion of certain operations. While the ultimate impacts cannot be estimated until the review is completed, which is expected to occur in the third quarter of 2023, implementation of recommendations resulting from the business review could have a material impact on Dominion Energy's future results of operations, financial condition and/or cash flows.

Virginia Legislation

The 2023 General Assembly session in Virginia included several proposals, including those ultimately enacted into law, related to Virginia Power’s retail base rates and other cost recovery mechanisms. In April 2023, legislation was enacted that amended several key provisions of the Regulation Act, as previously amended by the GTSA. The new legislation will shift $350 million of annual revenue requirement for costs currently recovered under riders into base rates effective July 2023, eliminate the ability of Virginia Power to utilize CCROs and adjust the parameters for determining an authorized ROE and revenue sharing. In addition, this legislation reestablishes biennial base rate reviews, sets a target capitalization ratio and permits Virginia Power to apply for the securitization of certain deferred fuel costs. See Note 13 to the Consolidated Financial Statements for additional information. In March 2023, legislation was enacted that permits Virginia Power to seek approval for a noncontrolling equity financing partner for the CVOW Commercial Project. In addition, in May 2023 legislation was enacted that amended certain portions of the VCEA, which qualifies generation produced by Virginia Power’s biomass electric generating stations as renewable energy and eliminates the mandated retirement by the end of 2028 of such facilities. While Dominion Energy is unable to estimate the ultimate financial statement impacts related to the newly enacted legislation, it expects there could be a material impact to its results of operations, financial condition and/or cash flows.

Future Environmental Regulations

In March 2023, the EPA released a proposed rule to further revise the Effluent Limitations Guidelines for the Steam Electric Power Generating Category, which apply primarily to wastewater discharges at coal and oil steam generating stations. Also in March 2023, the EPA released its first proposed rule to establish national drinking water standards for PFAS. Dominion Energy anticipates that the EPA will release additional rulemakings as part of an overall strategy to identify and mitigate PFAS exposure. In April 2023, the EPA released a proposal to tighten aspects of the Mercury and Air Toxics Standards, including the reduction of emissions limits for filterable particulate matter, and requiring the use of continuous emissions monitoring systems to demonstrate compliance. In May 2023, the EPA proposed a package of rules designed to reduce CO2 emissions from certain fossil fuel-fired electric generating units. The proposal sets standards of performance and emission guidelines for CO2 emissions from new gas-fired combustion turbines and modified coal-fired steam generating units. The proposed rulemaking package also proposes emission guidelines, including presumptive emission limits, for existing coal, oil and gas-fired steam generating units and certain gas-fired combustion turbines. Also in May 2023, the EPA released a proposed rule to regulate inactive surface impoundments located at retired generating stations that contained CCR and liquids after October 2015, and certain other inactive or previously closed surface impoundments, landfills or other areas that contain accumulations of CCR. Until the EPA ultimately takes final action on these rulemakings, Dominion Energy is unable to predict whether or to what extent the new rules will ultimately require additional controls. The expenditures required to implement additional controls could have a material impact on Dominion Energy’s financial condition and cash flows.

Federal Income Tax Laws

In April 2023, the IRS issued safe harbor guidance to taxpayers on the treatment of amounts paid to repair, maintain, replace, or improve natural gas distribution property, including whether expenditures should be deducted as repairs or capitalized and depreciated

20

on tax returns. The guidance includes safe harbor tax accounting methods which a taxpayer may choose to elect and provides special transition rules and incentives that vary depending on which tax year is the year of change. Dominion Energy is evaluating this new guidance and cannot currently estimate the potential financial statement impacts, but there could be a material impact to its results of operations, financial condition and/or cash flows.

Offshore Wind Vessel Leasing Arrangement

In December 2020, Dominion Energy signed an agreement (subsequently amended in December 2022 and May 2023) with a lessor to complete construction of and lease a Jones Act compliant offshore wind installation vessel. This vessel is designed to handle current turbine technologies as well as next generation turbines. The lessor is providing equity and has obtained financing commitments from debt investors, totaling $625 million, to fund the estimated project costs. The project is expected to be completed in late 2024 or early 2025. The initial lease term will commence once construction is substantially complete and the vessel is delivered and will mature in November 2027. See Note 14 to the Consolidated Financial Statements in this report for additional information.

Southeast Energy Exchange Market

In July 2023, the U.S. Court of Appeals for the District of Columbia Circuit vacated certain of FERC’s previous orders authorizing the SEEM market, including the tariff amendments to provide transmission service for transactions in SEEM. Dominion Energy is evaluating this ruling and currently cannot estimate the potential financial statement impacts.

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XML

Document and Entity Information	Nov. 08, 2023
Document Information [Line Items]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Nov. 08, 2023
Entity Registrant Name	DOMINION ENERGY, INC.
Entity Central Index Key	0000715957
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	D
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	VA
Entity File Number	001-08489
Entity Tax Identification Number	54-1229715
Entity Address, Address Line One	120 TREDEGAR STREET
Entity Address, City or Town	RICHMOND
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23219
City Area Code	804
Local Phone Number	819-2284
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Virginia Electric and Power Company
Document Information [Line Items]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Nov. 08, 2023
Entity Registrant Name	Virginia ELECTRIC AND POWER COMPANY
Entity Central Index Key	0000103682
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	D
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	VA
Entity File Number	000-55337
Entity Tax Identification Number	54-0418825
Entity Address, Address Line One	120 TREDEGAR STREET
Entity Address, City or Town	RICHMOND
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23219
City Area Code	804
Local Phone Number	819-2284
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false

XML

Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating Revenue		$ 3,166	$ 3,059	$ 7,049	$ 6,172
Operating Expenses
Electric fuel and other energy-related purchases		939	730	1,961	1,408
Purchased electric capacity		15	16	23	29
Purchased gas		49	95	172	240
Other operations and maintenance		775	850	1,517	1,740
Depreciation, depletion and amortization		603	600	1,221	1,202
Other taxes		164	177	355	359
Impairment of assets and other charges		44	416	142	405
Losses (gains) on sales of assets		(21)	636	(23)	608
Total operating expenses		2,568	3,520	5,368	5,991
Income (loss) from operations		598	(461)	1,681	181
Other income (expense)		314	(285)	590	(242)
Interest and related charges		395	71	874	313
Income (loss) from continuing operations including noncontrolling interests before income tax expense (benefit)		517	(817)	1,397	(374)
Income tax expense (benefit)		86	(152)	250	(9)
Net Income (Loss) From Continuing Operations		431	(665)	1,147	(365)
Net Income (Loss) From Discontinued Operations	[1]	168	212	449	623
Net Income (Loss) Including Noncontrolling Interests		599	(453)	1,596	258
Net Income (Loss)		599	(453)	1,596	258
Amounts attributable to Dominion Energy
Net income (loss) from continuing operations		431	(665)	1,147	(365)
Net income (loss) from discontinued operations		168	212	449	623
Net income (loss) attributable to Dominion Energy		$ 599	$ (453)	$ 1,596	$ 258
EPS - Basic
Net income (loss) from continuing operations		$ 0.49	$ (0.84)	$ 1.32	$ (0.51)
Net income (loss) from discontinued operations		0.2	0.26	0.54	0.76
Net income (loss) attributable to Dominion Energy		0.69	(0.58)	1.86	0.25
EPS - Diluted
Net income (loss) from continuing operations		0.49	(0.84)	1.32	(0.51)
Net income (loss) from discontinued operations		0.2	0.26	0.54	0.76
Net income (loss) attributable to Dominion Energy		$ 0.69	$ (0.58)	$ 1.86	$ 0.25
Virginia Electric and Power Company
Operating Revenue	[2]	$ 2,251	$ 2,175	$ 4,635	$ 4,342
Operating Expenses
Electric fuel and other energy-related purchases	[2]	706	533	1,505	1,049
Purchased electric capacity		10	11	18	22
Affiliated suppliers		99	84	192	175
Other operations and maintenance		344	394	692	873
Depreciation, depletion and amortization		432	425	879	854
Other taxes		67	83	152	158
Impairment of assets and other charges		38	409	45	413
Total operating expenses		1,696	1,939	3,483	3,544
Income (loss) from operations		555	236	1,152	798
Other income (expense)		48	(44)	84	(40)
Interest and related charges	[2]	182	145	363	293
Income before income tax expense		421	47	873	465
Income tax expense (benefit)		89	0	188	61
Net Income (Loss)		332	47	685	404
Amounts attributable to Dominion Energy
Net income (loss) attributable to Dominion Energy		$ 332	$ 47	$ 685	$ 404

[1] Includes income tax expense (benefit) of $38 million and $32 million for the three months ended June 30, 2023 and 2022, respectively, and $94 million and $132 million for the six months ended June 30, 2023 and 2022, respectively.

[2] See Note 19 for amounts attributable to affiliates.

XML

Consolidated Statements of Income (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Income tax expense (benefit) from discontinued operations	$ 38	$ 32	$ 94	$ 132

XML

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income including noncontrolling interests		$ 599	$ (453)	$ 1,596	$ 258
Net income		599	(453)	1,596	258
Other comprehensive income (loss), net of taxes:
Net deferred gains (losses) on derivatives-hedging activities	[1]	6	29	(3)	54
Changes in unrealized net gains (losses) on investment securities	[2]	(1)	(27)	16	(89)
Changes in net unrecognized pension and other postretirement benefit costs	[3]		2		30
Amounts reclassified to net income (loss):
Net derivative (gains) losses-hedging activities	[4]	8	11	16	21
Net realized (gains) losses on investment securities	[5]	(2)	9	(1)	12
Net pension and other postretirement benefit costs (credits)	[6]	(12)	16	(23)	33
Changes in other comprehensive income from equity method investees	[7]			1	1
Total other comprehensive income (loss)		(1)	40	6	62
Comprehensive income including noncontrolling interests		598	(413)	1,602	320
Comprehensive income (loss) attributable to Dominion Energy		598	(413)	1,602	320
Virginia Electric and Power Company
Net income		332	47	685	404
Other comprehensive income (loss), net of taxes:
Net deferred gains (losses) on derivatives-hedging activities	[8]	6	25	(3)	44
Changes in unrealized net gains (losses) on investment securities	[9]	(1)	(3)	3	(10)
Amounts reclassified to net income (loss):
Net derivative (gains) losses-hedging activities	[10]	0	0	0	1
Net realized (gains) losses on investment securities	[11]	0	0	0	(1)
Total other comprehensive income (loss)		5	22	0	34
Comprehensive income (loss) attributable to Dominion Energy		$ 337	$ 69	$ 685	$ 438

[1] Net of $(2) million and $(10) million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $1 million and $(18) million tax for the six months ended June 30, 2023 and 2022, respectively.

[2] Net of $3 million and $9 million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $(4) million and $28 million tax for the six months ended June 30, 2023 and 2022, respectively.

[3] Net of $— million and $2 million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $— million and $(8) million tax for the six months ended June 30, 2023 and 2022, respectively.

[4] Net of $(2) million and $(3) million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $(5) million and $(7) million tax for the six months ended June 30, 2023 and 2022, respectively.

[5] Net of $1 million and $(3) million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $— million and $(4) million tax for the six months ended June 30, 2023 and 2022, respectively.

[6] Net of $4 million and $(6) million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $8 million and $(12) million tax for the six months ended June 30, 2023 and 2022, respectively.

[7] Net of $— million and $— million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $— million and $— million tax for the six months ended June 30, 2023 and 2022, respectively.

[8] Net of $(2) million and $(8) million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $1 million and $(15) million tax for the six months ended June 30, 2023 and 2022, respectively.

[9] Net of $1 million and $2 million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $— million and $4 million tax for the six months ended June 30, 2023 and 2022, respectively.

[10] Net of $— million and $— million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $— million and $— million tax for the six months ended June 30, 2023 and 2022, respectively.

[11] Net of $— million and $— million tax for the three months ended June 30, 2023 and 2022, respectively, and net of $— million and $— million tax for the six months ended June 30, 2023 and 2022, respectively.

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Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net deferred gain (losses) on derivative-hedging activities, tax	$ (2)	$ (10)	$ 1	$ (18)
Changes in unrealized net gains (losses) on investment securities, tax	3	9	(4)	28
Changes in net unrecognized pension and other postretirement benefit costs, tax		2		(8)
Net derivative (gains) losses-hedging activities, tax	(2)	(3)	(5)	(7)
Net realized (gains) losses on investment securities, tax	1	(3)		(4)
Net pension and other postretirement benefit costs, tax	4	(6)	8	(12)
Virginia Electric and Power Company
Net deferred gain (losses) on derivative-hedging activities, tax	(2)	(8)	$ (1)	(15)
Changes in unrealized net gains (losses) on investment securities, tax	$ 1	$ 2		$ 4

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Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents		$ 108	$ 120	[1]
Customer receivables (less allowance for doubtful accounts)		2,093	2,157	[1]
Other receivables		380	383	[1]
Inventories		1,627	1,528	[1]
Derivative assets		258	1,019	[1]
Margin deposit assets		169	480	[1]
Regulatory assets		1,294	1,883	[1]
Other		570	504	[1]
Current assets held for sale		1,478	1,776	[1]
Total current assets		7,977	9,850	[1]
Investments
Nuclear decommissioning trust funds		6,553	5,957	[1]
Investment in equity method affiliates		300	295	[1]
Other		323	325	[1]
Total investments		7,176	6,577	[1]
Property, Plant and Equipment
Property, plant and equipment		78,669	75,178	[1]
Accumulated depreciation, depletion and amortization		(24,053)	(23,352)	[1]
Total property, plant and equipment, net		54,616	51,826	[1]
Deferred Charges and Other Assets
Goodwill		4,143	4,143	[1]
Regulatory assets		8,065	8,265	[1]
Other		5,047	4,780	[1]
Total deferred charges and other assets		17,255	17,188	[1]
Noncurrent Assets Held for Sale		19,040	18,802	[1]
Total assets		106,064	104,243	[1]
Current Liabilities
Securities due within one year		4,346	3,337	[2]
Supplemental credit facility borrowings		450
Short-term debt		4,575	3,423	[2]
Accounts payable		$ 826	$ 1,165	[2]
Accounts Payable, Current, Related Party, Type [Extensible Enumeration]		us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Accrued interest, payroll and taxes		$ 780	$ 910	[2]
Derivative liabilities		319	772	[2]
Regulatory liabilities		437	748	[2]
Other borrowing	[3]	1,542	1,697	[2]
Current liabilities held for sale		711	1,398	[2]
Total current liabilities		13,986	13,450	[2]
Long-Term Debt
Long-term debt		33,278	32,515	[2]
Junior subordinated notes		1,387	1,387	[2]
Supplemental credit facility borrowings		0	450	[2]
Other		229	232	[2]
Total long-term debt		34,894	34,584	[2]
Deferred Credits and Other Liabilities
Deferred income taxes and investment tax credits		5,710	5,397	[2]
Regulatory liabilities		8,576	8,417	[2]
Other		6,924	6,963	[2]
Total deferred credits and other liabilities		21,210	20,777	[2]
Noncurrent Liabilities Held for Sale		7,546	7,551	[2]
Total liabilities		77,636	76,362	[2]
Commitments and Contingencies (see Note 17)
Shareholders' Equity
Preferred stock (see Note 16)		1,783	1,783	[2]
Common stock - no par	[4]	23,704	23,605	[2]
Retained earnings		4,507	4,065	[2]
Accumulated other comprehensive loss		(1,566)	(1,572)	[2]
Shareholders' equity		28,428	27,881	[2]
Noncontrolling interests		0	0	[2]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Total		28,428	27,881	[2]
Total liabilities and shareholders' equity		106,064	104,243	[2]
Virginia Electric and Power Company
Current Assets
Cash and cash equivalents		19	22	[5]
Customer receivables (less allowance for doubtful accounts)		1,693	1,578	[5]
Other receivables		201	204	[5]
Inventories		1,009	924	[5]
Derivative assets	[6]	61	765	[5]
Margin deposit assets		32	310	[5]
Regulatory assets		627	1,140	[5]
Other		48	52	[5]
Total current assets		3,762	5,002	[5]
Investments
Nuclear decommissioning trust funds		3,508	3,202	[5]
Other		4	3	[5]
Total investments		3,512	3,205	[5]
Property, Plant and Equipment
Property, plant and equipment		57,554	54,697	[5]
Accumulated depreciation, depletion and amortization		(16,760)	(16,218)	[5]
Total property, plant and equipment, net		40,794	38,479	[5]
Deferred Charges and Other Assets
Regulatory assets		4,151	4,247	[5]
Other		2,485	2,261	[5]
Total deferred charges and other assets		6,636	6,508	[5]
Total assets		54,704	53,194	[5]
Current Liabilities
Securities due within one year		379	1,164	[5]
Short-term debt		1,265	941	[5]
Accounts payable		540	600	[5]
Accrued interest, payroll and taxes		298	270	[5]
Derivative liabilities	[6]	126	298	[5]
Regulatory liabilities		231	506	[5]
Other borrowing		1,103	1,176	[5]
Total current liabilities		6,369	7,234	[5]
Long-Term Debt
Long-term debt		16,050	14,916	[5]
Other		69	65	[5]
Total long-term debt		16,119	14,981	[5]
Deferred Credits and Other Liabilities
Deferred income taxes and investment tax credits		3,588	3,452	[5]
Regulatory liabilities		5,799	5,499	[5]
Other	[6]	4,899	4,783	[5]
Total deferred credits and other liabilities		14,286	13,734	[5]
Total liabilities		36,774	35,949	[5]
Commitments and Contingencies (see Note 17)
Shareholders' Equity
Common stock - no par	[7]	5,738	5,738	[5]
Other paid-in capital		1,113	1,113	[5]
Retained earnings		11,070	10,385	[5]
Accumulated other comprehensive loss		9	9	[5]
Shareholders' equity		17,930	17,245	[5]
Total liabilities and shareholders' equity		54,704	53,194	[5]
Virginia Electric and Power Company | Affiliated Entity
Current Assets
Other receivables		72	7	[5]
Current Liabilities
Accounts payable		97	255	[5]
Other borrowing		$ 2,330	$ 2,024	[5]

[1] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[2] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[3] See Note 10 for amounts attributable to related parties.

[4] 1.8 billion shares authorized; 837 million and 835 million shares outstanding at June 30, 2023 and December 31, 2022, respectively.

[5] Virginia Power’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date.

[6] See Note 19 for amounts attributable to affiliates.

[7] 500,000 shares authorized; 274,723 shares outstanding at June 30, 2023 and December 31, 2022.

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Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Customer receivables, allowance for doubtful accounts	$ 30	$ 27
Other receivables, allowance for doubtful accounts	$ 1	$ 2
Common stock, shares authorized	1,800,000,000	1,800,000,000
Common stock, shares outstanding	837,000,000	835,000,000
Virginia Electric and Power Company
Customer receivables, allowance for doubtful accounts	$ 24	$ 21
Other receivables, allowance for doubtful accounts	$ 1	$ 2
Common stock, shares authorized	500,000	500,000
Common stock, shares outstanding	274,723	274,723

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Consolidated Statements of Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total		Preferred Stock	Common Stock	Retained Earnings	AOCI	Total Shareholders' Equity
Beginning balance at Dec. 31, 2021	$ 27,308		$ 1,783	$ 21,610	$ 5,373	$ (1,458)	$ 27,308
Beginning balance (in shares) at Dec. 31, 2021			2	810
Net income (loss) including noncontrolling interests	258				258		258
Issuance of stock	1,803			$ 1,803			1,803
Issuance of stock (in shares)				22
Stock awards (net of change in unearned compensation)	14			$ 14			14
Preferred stock dividends (see Note 16)	(52)				(52)		(52)
Common stock dividends and distributions	(1,096)				(1,096)		(1,096)
Other comprehensive income, net of tax	62					62	62
Ending balance at Jun. 30, 2022	28,297		$ 1,783	$ 23,427	4,483	(1,396)	28,297
Ending balance (in shares) at Jun. 30, 2022			2	832
Beginning balance at Mar. 31, 2022	27,520		$ 1,783	$ 21,657	5,516	(1,436)	27,520
Beginning balance (in shares) at Mar. 31, 2022			2	811
Net income (loss) including noncontrolling interests	(453)				(453)		(453)
Issuance of stock	1,758			$ 1,758			1,758
Issuance of stock (in shares)				21
Stock awards (net of change in unearned compensation)	12			$ 12			12
Preferred stock dividends (see Note 16)	(25)				(25)		(25)
Common stock dividends and distributions	(555)				(555)		(555)
Other comprehensive income, net of tax	40					40	40
Ending balance at Jun. 30, 2022	28,297		$ 1,783	$ 23,427	4,483	(1,396)	28,297
Ending balance (in shares) at Jun. 30, 2022			2	832
Beginning balance at Dec. 31, 2022	27,881	[1]	$ 1,783	$ 23,605	4,065	(1,572)	27,881
Beginning balance (in shares) at Dec. 31, 2022			2	835
Net income (loss) including noncontrolling interests	1,596				1,596		1,596
Issuance of stock	85			$ 85			85
Issuance of stock (in shares)				2
Stock awards (net of change in unearned compensation)	14			$ 14			14
Preferred stock dividends (see Note 16)	(40)				(40)		(40)
Common stock dividends and distributions	(1,115)				(1,115)		(1,115)
Other comprehensive income, net of tax	6					6	6
Other	(1)				(1)		(1)
Ending balance at Jun. 30, 2023	28,428		$ 1,783	$ 23,704	4,507	(1,566)	28,428
Ending balance (in shares) at Jun. 30, 2023			2	837
Beginning balance at Mar. 31, 2023	28,356		$ 1,783	$ 23,652	4,486	(1,565)	28,356
Beginning balance (in shares) at Mar. 31, 2023			2	836
Net income (loss) including noncontrolling interests	599				599		599
Issuance of stock	42			$ 42			42
Issuance of stock (in shares)				1
Stock awards (net of change in unearned compensation)	10			$ 10			10
Preferred stock dividends (see Note 16)	(20)				(20)		(20)
Common stock dividends and distributions	(558)				(558)		(558)
Other comprehensive income, net of tax	(1)					(1)	(1)
Ending balance at Jun. 30, 2023	$ 28,428		$ 1,783	$ 23,704	$ 4,507	$ (1,566)	$ 28,428
Ending balance (in shares) at Jun. 30, 2023			2	837

[1] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

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Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement Of Stockholders Equity [Abstract]
Dividends declared per common share	$ 0.6675	$ 0.6675	$ 1.335	$ 1.335

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Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating Activities
Net income (loss) including noncontrolling interests	$ 1,596	$ 258
Net income	1,596	258
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities:
Depreciation, depletion and amortization (including nuclear fuel)	1,555	1,535
Deferred income taxes and investment tax credits	305	145
Impairment of assets and other charges	150	392
Losses (gains) on sales of assets and equity method investments	(31)	601
Net (gains) losses on nuclear decommissioning trust funds and other investments	(308)	556
Other adjustments	62	(56)
Changes in:
Accounts receivable	590	(115)
Inventories	(101)	(12)
Deferred fuel and purchased gas costs, net	416	(858)
Prepayments	(35)	(81)
Accounts payable	(694)	69
Accrued interest, payroll and taxes	(200)	(155)
Margin deposit assets and liabilities	311	(291)
Net realized and unrealized changes related to derivative activities	176	(87)
Pension and other postretirement benefits	(239)	(231)
Other operating assets and liabilities	(359)	(309)
Net cash provided by operating activities	3,194	1,361
Investing Activities
Plant construction and other property additions	(4,850)	(3,219)
Acquisition of solar development projects	(12)	(121)
Proceeds from sales of securities	1,138	2,081
Purchases of securities	(1,301)	(1,851)
Proceeds from sale of assets and equity method investments	11	146
Contributions to equity method affiliates	(48)	(31)
Short-term deposit		(2,000)
Other	48	(153)
Net cash used in investing activities	(5,014)	(5,148)
Financing Activities
Issuance (repayment) of short-term debt, net	1,152	765
364-day term loan facility borrowings	2,500
Issuance and remarketing of long-term debt	1,660	2,338
Repayment and repurchase of long-term debt	(2,394)	(221)
Supplemental credit facility borrowings	450	900
Repayment of supplemental credit facility borrowings	(450)	(450)
Issuance of common stock	85	1,701
Common dividend payments	(1,115)	(1,096)
Other	(94)	(151)
Net cash provided by financing activities	1,794	3,786
Increase (decrease) in cash, restricted cash and equivalents	(26)	(1)
Cash, restricted cash and equivalents at beginning of period	341	408
Cash, restricted cash and equivalents at end of period	315	407
Virginia Electric and Power Company
Operating Activities
Net income	685	404
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities:
Depreciation, depletion and amortization (including nuclear fuel)	961	937
Deferred income taxes and investment tax credits	107	147
Impairment of assets and other charges	44	400
Net (gains) losses on nuclear decommissioning trust funds and other investments	(45)	75
Other adjustments	(5)	(50)
Changes in:
Accounts receivable	4	(302)
Affiliated receivables and payables	(224)	(27)
Inventories	(88)	22
Deferred fuel and purchased gas costs, net	386	(780)
Prepayments	(1)	4
Accounts payable	(27)	116
Accrued interest, payroll and taxes	27	42
Margin deposit assets and liabilities	278	(311)
Net realized and unrealized changes related to derivative activities	472	84
Other operating assets and liabilities	(121)	(72)
Net cash provided by operating activities	2,453	689
Investing Activities
Plant construction and other property additions	(3,236)	(1,996)
Purchases of nuclear fuel	(100)	(118)
Acquisition of solar development projects	(12)	(38)
Proceeds from sales of securities	719	864
Purchases of securities	(824)	(892)
Other	55	(21)
Net cash used in investing activities	(3,398)	(2,201)
Financing Activities
Issuance (repayment) of short-term debt, net	324	(20)
Issuance (repayment) of affiliated current borrowings, net	306	(587)
Issuance and remarketing of long-term debt	1,660	2,338
Repayment and repurchase of long-term debt	(1,308)	(138)
Other	(42)	(49)
Net cash provided by financing activities	940	1,544
Increase (decrease) in cash, restricted cash and equivalents	(5)	32
Cash, restricted cash and equivalents at beginning of period	24	26
Cash, restricted cash and equivalents at end of period	$ 19	$ 58

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Virginia Electric and Power Company Consolidated Statements of Common Shareholder's Equity (Unaudited) - USD ($) $ in Millions	Total		Common Stock	Retained Earnings	AOCI	Virginia Electric and Power Company		Virginia Electric and Power Company Common Stock	Virginia Electric and Power Company Other Paid-In Capital	Virginia Electric and Power Company Retained Earnings	Virginia Electric and Power Company AOCI
Beginning balance at Dec. 31, 2021					$ (1,458)	$ 15,980		$ 5,738	$ 1,113	$ 9,170	$ (41)
Beginning balance (in shares) at Dec. 31, 2021			810,000,000					275,000
Net income	$ 258					404				404
Other comprehensive income, net of tax	62				62	34					34
Ending balance at Jun. 30, 2022					(1,396)	16,418		$ 5,738	1,113	9,574	(7)
Ending balance (in shares) at Jun. 30, 2022			832,000,000					275,000
Beginning balance at Mar. 31, 2022					(1,436)	16,348		$ 5,738	1,113	9,526	(29)
Beginning balance (in shares) at Mar. 31, 2022			811,000,000					275,000
Net income	(453)					47				47
Other comprehensive income, net of tax	40				40	22					22
Other						(1)				(1)
Ending balance at Jun. 30, 2022					(1,396)	16,418		$ 5,738	1,113	9,574	(7)
Ending balance (in shares) at Jun. 30, 2022			832,000,000					275,000
Beginning balance at Dec. 31, 2022	27,881	[1]			(1,572)	17,245	[2]	$ 5,738	1,113	10,385	9
Beginning balance (in shares) at Dec. 31, 2022			835,000,000					275,000
Net income	1,596					685				685
Other comprehensive income, net of tax	6				6	0					0
Other	(1)			$ (1)
Ending balance at Jun. 30, 2023	28,428				(1,566)	17,930		$ 5,738	1,113	11,070	9
Ending balance (in shares) at Jun. 30, 2023			837,000,000					275,000
Beginning balance at Mar. 31, 2023					(1,565)	17,593		$ 5,738	1,113	10,738	4
Beginning balance (in shares) at Mar. 31, 2023			836,000,000					275,000
Net income	599					332				332
Other comprehensive income, net of tax	(1)				(1)	5					5
Ending balance at Jun. 30, 2023	$ 28,428				$ (1,566)	$ 17,930		$ 5,738	$ 1,113	$ 11,070	$ 9
Ending balance (in shares) at Jun. 30, 2023			837,000,000					275,000

[1] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[2] Virginia Power’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date.

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Nature of Operations

6 Months Ended

Jun. 30, 2023

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Nature of Operations

Note 1. Nature of Operations

Dominion Energy, headquartered in Richmond, Virginia, is one of the nation’s largest producers and distributors of energy. Dominion Energy’s operations are conducted through various subsidiaries, including Virginia Power. Dominion Energy’s operations also include DESC, regulated gas distribution operations primarily in the eastern and Rocky Mountain regions of the U.S., nonregulated electric generation and a noncontrolling interest in Cove Point. In July 2023, Dominion Energy entered into an agreement to sell its remaining 50% noncontrolling partnership interest in Cove Point to BHE. See Note 10 for additional information.

In connection with the comprehensive business review announced in November 2022, Dominion Energy entered into agreements in September 2023 to sell all of its regulated gas distribution operations, except for DESC’s, to Enbridge. In addition, Dominion Energy completed the sale in September 2023 of its remaining 50% noncontrolling partnership interest in Cove Point to BHE under the agreement entered in July 2023. As discussed in Notes 3 and 10, these operations are classified as discontinued operations and held for sale in Dominion Energy’s Consolidated Financial Statements. Subsequently in September 2023, Dominion Energy revised its primary operating segments as discussed in Note 21. Dominion Energy’s Consolidated Financial Statements and Notes have been recast to reflect these changes in presentation.

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Significant Accounting Policies

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Significant Accounting Policies

Note 2. Significant Accounting Policies

As permitted by the rules and regulations of the SEC, the Companies’ accompanying unaudited Consolidated Financial Statements contain certain condensed financial information and exclude certain footnote disclosures normally included in annual audited consolidated financial statements prepared in accordance with GAAP. These unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

In the Companies’ opinion, the accompanying unaudited Consolidated Financial Statements contain all adjustments necessary to present fairly their financial position at June 30, 2023, their results of operations and changes in equity for the three and six months ended June 30, 2023 and 2022 and their cash flows for the six months ended June 30, 2023 and 2022. Such adjustments are normal and recurring in nature unless otherwise noted.

The Companies make certain estimates and assumptions in preparing their Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates.

The Companies’ accompanying unaudited Consolidated Financial Statements include, after eliminating intercompany transactions and balances, their accounts, those of their respective majority-owned subsidiaries and non-wholly-owned entities in which they have a controlling financial interest. For certain partnership structures, income is allocated based on the liquidation value of the underlying contractual arrangements.

The results of operations for interim periods are not necessarily indicative of the results expected for the full year. Information for quarterly periods is affected by seasonal variations in sales, rate changes, electric fuel and other energy-related purchases, purchased gas expenses and other factors.

Certain amounts in the Companies’ 2022 Consolidated Financial Statements and Notes have been reclassified to conform to the 2023 presentation for comparative purposes; however, such reclassifications did not affect the Companies’ net income, total assets, liabilities, equity or cash flows.

Amounts disclosed for Dominion Energy are inclusive of Virginia Power, where applicable. There have been no significant changes from Note 2 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, with the exception of the items described below.

Cash, Restricted Cash and Equivalents

Restricted Cash and Equivalents

The following table provides a reconciliation of the total cash, restricted cash and equivalents reported within the Companies’ Consolidated Balance Sheets to the corresponding amounts reported within the Companies’ Consolidated Statements of Cash Flows for the six months ended June 30, 2023 and 2022:

	Cash, Restricted Cash and Equivalents at End of Period				Cash, Restricted Cash and Equivalents at Beginning of Period
	June 30, 2023		June 30, 2022		December 31, 2022		December 31, 2021
(millions)
Dominion Energy
Cash and cash equivalents(1)	$	137	$	273	$	153	$	283
Restricted cash and equivalents(2)		178		134		188		125
Cash, restricted cash and equivalents shown in the    Consolidated Statements of Cash Flows	$	315	$	407	$	341	$	408
Virginia Power
Cash and cash equivalents	$	19	$	56	$	22	$	26
Restricted cash and equivalents(3)		—		2		2		—
Cash, restricted cash and equivalents shown in the    Consolidated Statements of Cash Flows	$	19	$	58	$	24	$	26

(1)At June 30, 2023, June 30, 2022, December 31, 2022 and December 31, 2021, Dominion Energy had $29 million, $24 million, $34 million and $34 million, respectively, of cash and cash equivalents included in current assets held for sale.

(2)At June 30, 2023, June 30, 2022, December 31, 2022 and December 31, 2021, Dominion Energy had $3 million, $1 million, $2 million and less than $1 million, respectively, of restricted cash and equivalents included in current assets held for sale.

(3)Restricted cash and equivalents balances are presented within other current assets in Virginia Power's Consolidated Balance Sheets.

Supplemental Cash Flow Information

The following table provides supplemental disclosure of cash flow information related to Dominion Energy:

Six Months Ended June 30,	2023		2022
(millions)
Significant noncash investing and financing activities:(1)
Accrued capital expenditures	$	713	$	512
Leases(2)		279		57

(1)See Note 10 for noncash investing activities related to the acquisition of a noncontrolling interest in Dominion Privatization, Note 16 for noncash financing activities related to the remarketing of Series A Preferred Stock and the issuance of common stock associated with the settlement of litigation and Note 17 for noncash financing activities related to the transfer of property associated with the settlement of litigation.

(2)Includes $40 million and $19 million of financing leases at June 30, 2023 and 2022, respectively, and $239 million and $38 million of operating leases at June 30, 2023 and 2022, respectively.

The following table provides supplemental disclosure of cash flow information related to Virginia Power:

Six Months Ended June 30,	2023		2022
(millions)
Significant noncash investing and financing activities:
Accrued capital expenditures	$	550	$	240
Leases(1)		242		47

(1)Includes $36 million and $14 million of financing leases at June 30, 2023 and 2022, respectively, and $206 million and $33 million of operating leases at June 30, 2023 and 2022, respectively.

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Acquisitions and Dispositions

6 Months Ended

Jun. 30, 2023

Text Block [Abstract]

Acquisitions and Dispositions

Note 3. Acquisitions and Dispositions

Business Review Dispositions

Sale of East Ohio

In September 2023, Dominion Energy entered into an agreement with Enbridge for the East Ohio Transaction, which includes the sale of East Ohio and is valued at approximately $6.6 billion, consisting of a purchase price of approximately $4.3 billion in cash and approximately $2.3 billion of assumed indebtedness. The purchase price will be subject to customary post-closing adjustments, including adjustments for cash, indebtedness, net working capital, capital expenditures and net regulatory assets and liabilities. Closing of the East Ohio Transaction is not conditioned upon the closing of the PSNC or Questar Gas Transactions. The sale will be treated as a stock sale for tax purposes and is expected to close in 2024, subject to clearance or approval under or by the Hart-Scott-Rodino Act, CFIUS and FCC as well as other customary closing and regulatory conditions. In November 2023, the waiting period under the Hart-Scott-Rodino Act expired. Also in November 2023, Dominion Energy submitted its initial filing request for approval by CFIUS. In October 2023, as required under the sale agreement, Dominion Energy filed a notice with the Ohio Commission. The proposed internal reorganization in connection with the East Ohio Transaction is subject to approval by the Utah and Wyoming Commissions. Dominion Energy filed for such approvals in September 2023 and received approval from the Utah Commission in November 2023.

Upon closing, Dominion Energy will retain the pension and other postretirement benefit plan assets and obligations, including related income tax and other deferred balances, associated with retiree participants in both East Ohio's union pension and other postretirement benefit plans and retiree participants of the sale entities in the Dominion Energy Pension Plan and the Dominion Energy Retiree Health and Welfare Plan. The East Ohio Transaction is subject to termination by either party if not completed by September 2024, subject to a potential three-month extension for receipt of regulatory approvals, with a termination fee of $155 million due to Dominion Energy under certain conditions. Based on the recorded balances at September 30, 2023, Dominion Energy expects to recognize a pre-tax gain of approximately $20 million ($20 million after-tax loss) upon closing, including the write-off of $1.5 billion of goodwill which is not deductible for tax purposes but excluding the effects of final closing adjustments.

At the closing of the East Ohio Transaction, Dominion Energy and Enbridge will enter into a transition services agreement pursuant to which Dominion Energy will continue to provide certain services to support the ongoing operations of East Ohio for up to approximately two years. Enbridge has also agreed to provide certain services to Dominion Energy.

Sale of PSNC

In September 2023, Dominion Energy entered into an agreement with Enbridge for the PSNC Transaction, which includes the sale of PSNC and is valued at approximately $3.1 billion, consisting of a purchase price of approximately $2.2 billion in cash and approximately $1.0 billion of assumed indebtedness. The purchase price will be subject to customary post-closing adjustments, including adjustments for cash, indebtedness, net working capital, capital expenditures and net regulatory assets and liabilities. Closing of the PSNC Transaction is not conditioned upon the closing of the East Ohio or Questar Gas Transactions. The sale will be treated as a stock sale for tax purposes and is expected to close in 2024, subject to clearance or approval under or by the Hart-Scott-Rodino Act, CFIUS, FCC and North Carolina Commission as well as other customary closing and regulatory conditions. In November 2023, the waiting period under the Hart-Scott-Rodino Act expired. Also in November 2023, Dominion Energy submitted its initial filing request for approval by CFIUS. In October 2023, Dominion Energy filed for approval from the North Carolina Commission. The proposed internal reorganization in connection with the PSNC Transaction is subject to approval by the North Carolina Commission. Dominion Energy filed for such approval in September 2023.

Upon closing, Dominion Energy will retain the entirety of the assets and obligations, including related income tax and other deferred balances, of the pension and other postretirement employee benefit plans associated with the operations included in the transaction and relating to services provided through closing. The PSNC Transaction is subject to termination by either party if not completed by September 2024, subject to a potential three-month extension for receipt of regulatory approvals, with a termination fee of $78 million due to Dominion Energy under certain conditions. Based on the recorded balances at September 30, 2023, Dominion Energy expects to recognize a pre-tax gain of approximately $130 million ($290 million after-tax loss) upon closing, including the write-off of $0.7 billion of goodwill which is not deductible for tax purposes but excluding the effects of final closing adjustments.

At the closing of the PSNC Transaction, Dominion Energy and Enbridge will enter into a transition services agreement pursuant to which Dominion Energy will continue to provide certain services to support the ongoing operations of PSNC for up to approximately two years. Enbridge has also agreed to provide certain services to Dominion Energy.

Sale of Questar Gas and Wexpro

In September 2023, Dominion Energy entered into an agreement with Enbridge for the Questar Gas Transaction, which includes the sale of Questar Gas, Wexpro and related affiliates and is valued at approximately $4.3 billion, consisting of a purchase price of approximately $3.0 billion in cash and approximately $1.3 billion of assumed indebtedness. The purchase price will be subject to customary post-closing adjustments, including adjustments for cash, indebtedness, net working capital, capital expenditures and net

regulatory assets and liabilities. Closing of the Questar Gas Transaction is not conditioned upon the closing of the East Ohio or PSNC Transactions. The sale will be treated as a stock sale for tax purposes and is expected to close in 2024, subject to clearance or approval under or by the Hart-Scott-Rodino Act, CFIUS, FCC and Utah and Wyoming Commissions as well as other customary closing and regulatory conditions. In November 2023, the waiting period under the Hart-Scott-Rodino Act expired. Also in November 2023, Dominion Energy submitted its initial filing request for approval by CFIUS. In October 2023, Dominion Energy filed for approvals from the Utah and Wyoming Commissions. In October 2023, Dominion Energy filed the notice with the Idaho Commission required for closing of the Questar Gas Transaction. The proposed internal reorganization in connection with the Questar Gas Transaction is subject to approval by the Utah and Wyoming Commissions. Dominion Energy filed for such approvals in September 2023 and received approval from the Utah Commission in November 2023.

Upon closing, Dominion Energy will retain the pension and other postretirement benefit plan assets and obligations, including related income tax and other deferred balances, associated with retiree participants of the sale entities in the Dominion Energy Pension Plan and the Dominion Energy Retiree Health and Welfare Plan. The Questar Gas Transaction is subject to termination by either party if not completed by September 2024, subject to a potential three-month extension for receipt of regulatory approvals, with a termination fee of $107 million due to Dominion Energy under certain conditions. Based on the recorded balances at September 30, 2023, Dominion Energy expects to recognize a pre-tax loss of approximately $10 million ($530 million after-tax loss) upon closing, including the write-off of $1.0 billion of goodwill which is not deductible for tax purposes but excluding the effects of final closing adjustments.

At the closing of the Questar Gas Transaction, Dominion Energy and Enbridge will enter into a transition services agreement pursuant to which Dominion Energy will continue to provide certain services to support the ongoing operations of Questar Gas and Wexpro for up to approximately two years. Enbridge has also agreed to provide certain services to Dominion Energy.

Other Sales

In August 2023, Dominion Energy entered into an agreement and completed the sale of Tredegar Solar Fund I, LLC to Spruce Power for cash consideration of $21 million. Dominion Energy recorded an impairment associated with these operations in the second quarter of 2023 as discussed in Note 8.

Financial Statement Information

The operations included in each of the East Ohio, PSNC and Questar Gas Transactions are presented as held for sale and discontinued operations within the Corporate and Other segment effective September 2023. In addition, operations associated with the other sales related to the comprehensive business review are also presented as discontinued operations within the Corporate and Other segment effective September 2023. As a result, the previously reported amounts have been recast to reflect this presentation and depreciation and amortization ceased on the applicable assets.

The following table represents selected information for each disposal group regarding the results of operations reported within discontinued operations in Dominion Energy's Consolidated Statements of Income:

	Three Months Ended June 30, 2023										Six Months Ended June 30, 2023
		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other			East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other
(millions)
Operating revenue		$	235	$	120	$	271	$	2		$	547	$	446	$	1,001	$	3
Operating expense			153		98		233		19			369		306		812		22
Other income (expense)			7		3		2		—			15		5		3		—
Interest and related charges			17		12		17		1			32		25		33		1
Income (loss) before income    taxes			72		13		23		(18	)		161		120		159		(20	)
Income tax expense (benefit)			6		2		3		(4	)		19		26		32		(5	)
Net income (loss) attributable    to Dominion Energy(1)		$	66	$	11	$	20	$	(14	)	$	142	$	94	$	127	$	(15	)

(1)Excludes $5 million and $(4) million of income tax expense (benefit) attributable to consolidated state and interim period tax allocation adjustments for the three and six months ended June 30, 2023, respectively.

	Three Months Ended June 30, 2022									Six Months Ended June 30, 2022
		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other
(millions)
Operating revenue		$	222	$	111	$	213	$	1	$	532	$	446	$	732	$	3
Operating expense			145		88		170		1		363		312		558		3
Other income (expense)			7		1		—		—		14		3		—		—
Interest and related charges			6		10		10		—		9		19		20		—
Income (loss) before income    taxes			78		14		33		—		174		118		154		—
Income tax expense    (benefit)			10		2		5		—		24		25		31		—
Net income (loss) attributable    to Dominion Energy(1)		$	68	$	12	$	28	$	—	$	150	$	93	$	123	$	—

(1)Excludes $(9) million and $(13) million of income tax expense (benefit) attributable to consolidated state and interim period tax allocation adjustments for the three and six months ended June 30, 2022, respectively.

The carrying amount of major classes of assets and liabilities relating to the disposal groups, which are reported as held for sale in Dominion Energy's Consolidated Balance Sheets were as follows:

	At June 30, 2023								At December 31, 2022
	East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other
(millions)
Current assets(1)	$	403	$	230	$	728	$	30	$	544	$	381	$	803	$	1
Property, plant and equipment, net		5,174		2,659		4,094		—		5,012		2,591		3,984		47
Other deferred charges and other    assets, including goodwill(2) and    intangible assets		2,628		818		1,004		—		2,629		822		1,043		—
Current liabilities		359		120		223		9		634		151		612		1
Long-term debt		2,286		798		1,245				2,287		798		1,245		—
Other deferred credits and liabilities		1,423		695		1,097		—		1,435		689		1,087		9

(1)Includes cash and cash equivalents of $3 million and $6 million within the East Ohio Transaction, less than $1 million and less than $1 million within the PSNC Transaction and $26 million and $28 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively. Also includes regulatory assets of $93 million and $90 million within the East Ohio Transaction, $108 million and $95 million within the PSNC Transaction and $450 million and $273 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively.

(2)Includes goodwill of $1.5 billion, $673 million and $983 million at both June 30, 2023 and December 31, 2022 within the East Ohio, PSNC and Questar Gas Transactions, respectively. Also includes regulatory assets of $739 million and $751 million within the East Ohio Transaction, $89 million and $93 million within the PSNC Transaction and $(31) million and $(22) million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively.

(3)Includes regulatory liabilities of $57 million and $43 million within the East Ohio Transaction, $39 million and $11 million within the PSNC Transaction and $50 million and $144 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively.

(4)Includes regulatory liabilities of $730 million and $749 million within the East Ohio Transaction, $439 million and $436 million within the PSNC Transaction and $509 million and $506 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively.

Capital expenditures and significant noncash items relating to the disposal groups included the following:

	Six Months Ended June 30, 2023									Six Months Ended June 30, 2022
		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other
(millions)
Capital expenditures		$	215	$	99	$	177	$	—	$	192	$	68	$	210	$	—
Significant noncash items
Depreciation, depletion    and amortization			71		44		86		2		65		43		81		2
Accrued capital expenditures			48		19		32		—		28		16		35		—

Disposition of Gas Transmission & Storage Operations

In December 2021, Dominion Energy completed the sale of the Q-Pipe Group to Southwest Gas, as discussed in Note 3 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. In the first quarter of 2022, Dominion Energy recognized a gain of $27 million ($20 million after-tax) in discontinued operations in its Consolidated Statements of Income associated with finalization of working capital adjustments.

Sale of Kewaunee

In May 2021, Dominion Energy entered into an agreement to sell 100% of the equity interests in Dominion Energy Kewaunee, Inc. to EnergySolutions, including the transfer of all decommissioning obligations associated with Kewaunee, which ceased operations in 2013. The sale closed in June 2022 following approval from the Wisconsin Commission in May 2022 and NRC approval of a requested license transfer in March 2022. The sale was treated as an asset sale for tax purposes and Dominion Energy retained the assets and obligations of the pension and other postretirement employee benefit plans. EnergySolutions is subject to the Wisconsin regulatory conditions agreed to by Dominion Energy upon its acquisition of Kewaunee, including the return of any excess decommissioning funds to WPSC and WP&L customers following completion of all decommissioning activities.

In the second quarter of 2022, Dominion Energy recorded a loss of $649 million ($513 million after-tax), recorded in losses (gains) on sales of assets in its Consolidated Statements of Income, primarily related to the difference between the nuclear decommissioning trust and AROs. Prior to its receipt, there had been uncertainty as to the timing of or ability to obtain approval from the Wisconsin Commission. Prior to closing, Dominion Energy withdrew $80 million from the nuclear decommissioning trust to recover certain spent nuclear fuel and other permitted costs.
 

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Operating Revenue

6 Months Ended

Jun. 30, 2023

Text Block [Abstract]

Operating Revenue

Note 4. Operating Revenue

The Companies’ operating revenue consists of the following:

	Dominion Energy										Virginia Power
	Quarter-to-Date					Year-to-Date					Quarter-to-Date					Year-to-Date
Period Ended June 30,	2023		2022			2023		2022			2023		2022			2023		2022
(millions)
Regulated electric sales:
Residential	$	1,124	$	1,117		$	2,410	$	2,404		$	832	$	816		$	1,842	$	1,831
Commercial		1,147		1,089			2,217		1,987			917		874			1,783		1,591
Industrial		211		220			431		417			99		110			215		213
Government and other retail		232		297			476		569			213		281			442		539
Wholesale		36		68			80		115			22		31			51		63
Nonregulated electric sales		125		236			382		603			22		31			33		45
Regulated gas sales:
Residential		43		52			179		215
Commercial		28		40			81		105
Other		16		43			39		77
Regulated gas transportation and storage		5		14			9		24
Other regulated revenues		65		84			143		140			62		80			136		131
Other nonregulated revenues(1)(2)		48		43			85		75			22		16			33		22
Total operating revenue from contracts with customers		3,080		3,303			6,532		6,731			2,189		2,239			4,535		4,435
Other revenues(1)(3)		86		(244	)		517		(559	)		62		(64	)		100		(93	)
Total operating revenue	$	3,166	$	3,059		$	7,049	$	6,172		$	2,251	$	2,175		$	4,635	$	4,342

(1)See Note 19 for amounts attributable to affiliates.

(2)Sales of renewable energy credits were $24 million and $7 million for the three months ended June 30, 2023 and 2022, respectively, and $29 million and $11 million for the six months ended June 30, 2023 and 2022, respectively, at Dominion Energy and $19 million and less than $1 million for the three months ended June 30, 2023 and 2022, respectively, and $22 million and less than $1 million for the six months ended June 30, 2023 and 2022, respectively, at Virginia Power.

(3)Includes alternative revenue of $50 million and $19 million for the three months ended June 30, 2023 and 2022, respectively, and $77 million and $27 million for the six months ended June 30, 2023 and 2022, respectively, at both Dominion Energy and Virginia Power.

Neither Dominion Energy nor Virginia Power have any amounts for revenue to be recognized in the future on multi-year contracts in place at June 30, 2023.

At June 30, 2023 and December 31, 2022, Dominion Energy’s contract liability balances were $81 million and $51 million, respectively, and are recorded in other current liabilities and other deferred credits and other liabilities in its Consolidated Balance Sheets. At June 30, 2023 and December 31, 2022, Virginia Power’s contract liability balances were $74 million and $39 million,

respectively, and are recorded in other current liabilities and other deferred credits and other liabilities in its Consolidated Balance Sheets.

The Companies recognize revenue as they fulfill their obligations to provide service to their customers. During the six months ended June 30, 2023 and 2022, Dominion Energy recognized revenue of $47 million and $42 million, respectively, from the beginning contract liability balances. During the six months ended June 30, 2023 and 2022, Virginia Power recognized $39 million and $33 million, respectively, from the beginning contract liability balances.

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Income Taxes

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Note 5. Income Taxes

For continuing operations, including noncontrolling interests, the statutory U.S. federal income tax rate reconciles to the Companies’ effective income tax rate as follows:

	Dominion Energy						Virginia Power
Six Months Ended June 30,	2023			2022			2023			2022
U.S. statutory rate		21.0	%		21.0	%		21.0	%		21.0	%
Increases (reductions) resulting from:
Recognition of taxes - sale of    subsidiary stock		—			(24.1	)
State taxes, net of federal benefit		3.8			(2.8	)		4.6			4.4
Investment tax credits		(3.1	)		4.5			(0.3	)		(6.9	)
Production tax credits		(0.5	)		0.5			(0.8	)		(1.0	)
Reversal of excess deferred income    taxes		(2.0	)		4.2			(2.3	)		(3.9	)
Changes in state deferred taxes associated    with assets held for sale		—			(1.4	)
AFUDC - equity		(0.1	)		0.2			(0.1	)		(1.0	)
Other, net		(1.2	)		0.3			(0.5	)		0.6
Effective tax rate		17.9	%		2.4	%		21.6	%		13.2	%

In the first quarter of 2022, Dominion Energy entered into an agreement to sell 100% of the equity interests in Hope in a stock sale for income tax purposes. As of June 30, 2022, Dominion had established $90 million of deferred tax liabilities reflecting the excess of the financial reporting basis over the tax basis in Hope’s stock. These deferred taxes reversed upon closing of the sale in August 2022 and became a component of current income tax expense on the sale. See Note 3 to the Consolidated Financial Statements in Dominion Energy's Annual Report on Form 10-K for the year ended December 31, 2022 for additional information regarding the sale of Hope.

As of June 30, 2023, there have been no material changes in the Companies’ unrecognized tax benefits or possible changes that could reasonably be expected to occur during the next twelve months. See Note 5 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, for a discussion of these unrecognized tax benefits.

Discontinued operations

Income tax expense reflected in discontinued operations is $94 million and $132 million for the six months ended June 30, 2023 and 2022, respectively.

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Earnings Per Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Share

Note 6. Earnings Per Share

The following table presents the calculation of Dominion Energy’s basic and diluted EPS:

	Quarter-to-Date						Year-to-Date
Period Ended June 30,	2023			2022			2023			2022
(millions, except EPS)
Net income (loss) attributable to Dominion Energy from    continuing operations	$	431		$	(665	)	$	1,147		$	(365	)
Preferred stock dividends (see Note 16)		(20	)		(25	)		(40	)		(52	)
Net income (loss) attributable to Dominion Energy from    continuing operations – Basic		411			(690	)		1,107			(417	)
Dilutive effect of 2019 Equity Units(1)(2)		—			—			—			—
Net income (loss) attributable to Dominion Energy from    continuing operations - Diluted	$	411		$	(690	)	$	1,107		$	(417	)
Net income (loss) attributable to Dominion Energy from    discontinued operations - Basic & Diluted	$	168		$	212		$	449		$	623
Average shares of common stock outstanding – Basic		836.0			818.4			835.6			814.5
Net effect of dilutive securities(1)(3)		0.2			—			0.3			—
Average shares of common stock outstanding – Diluted		836.2			818.4			835.9			814.5
EPS from continuing operations – Basic	$	0.49		$	(0.84	)	$	1.32		$	(0.51	)
EPS from discontinued operations – Basic		0.20			0.26			0.54			0.76
EPS attributable to Dominion Energy – Basic	$	0.69		$	(0.58	)	$	1.86		$	0.25
EPS from continuing operations – Diluted	$	0.49		$	(0.84	)	$	1.32		$	(0.51	)
EPS from discontinued operations – Diluted		0.20			0.26			0.54			0.76
EPS attributable to Dominion Energy – Diluted	$	0.69		$	(0.58	)	$	1.86		$	0.25

(1)As a result of a net loss for the three and six months ended June 30, 2022, any adjustments to earnings or shares would be considered antidilutive and are therefore excluded from the calculation of diluted EPS.

(2)Effective January 2022, diluted net income was no longer reduced by the Series A Preferred Stock dividends.

(3)Dilutive securities for the three and six months ended June 30, 2023 include stock potentially to be issued to satisfy the obligation under a settlement agreement with the SCDOR (applying the if converted method). See Note 17 for additional information.

The 2019 Equity Units, prior to settlement in June 2022, were a potentially dilutive instrument. See Note 19 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 and Note 16 in this report for additional information.

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Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 7. Accumulated Other Comprehensive Income (Loss)

Dominion Energy

The following table presents Dominion Energy’s changes in AOCI (net of tax) and reclassifications out of AOCI by component:

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Pension and other postretirement benefit costs(4)			Equity Method Investees(5)			Total
(millions)
Three Months Ended June 30, 2023
Beginning balance	$	(250	)	$	(26	)	$	(1,287	)	$	(2	)	$	(1,565	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		6			(1	)		—			—			5
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		10			—			—			—			10
Other income (expense)		—			(3	)		(16	)		—			(19	)
Total		10			(3	)		(16	)		—			(9	)
Income tax expense (benefit)		(2	)		1			4			—			3
Total, net of tax		8			(2	)		(12	)		—			(6	)
Net current period other comprehensive     income (loss)		14			(3	)		(12	)		—			(1	)
Ending balance	$	(236	)	$	(29	)	$	(1,299	)	$	(2	)	$	(1,566	)
Three Months Ended June 30, 2022
Beginning balance	$	(323	)	$	(22	)	$	(1,088	)	$	(3	)	$	(1,436	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		29			(27	)		2			—			4
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		14			—			—			—			14
Other income (expense)		—			12			22			—			34
Total		14			12			22			—			48
Income tax expense (benefit)		(3	)		(3	)		(6	)		—			(12	)
Total, net of tax		11			9			16			—			36
Net current period other comprehensive     income (loss)		40			(18	)		18			—			40
Ending balance	$	(283	)	$	(40	)	$	(1,070	)	$	(3	)	$	(1,396	)

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $79 million, $83 million, $94 million and $107 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

(3)Net of $9 million, $6 million, $14 million and $8 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

(4)Net of $453 million, $449 million, $376 million and $380 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

(5)Net of $— million, $— million, $1 million and $1 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Pension and other postretirement benefit costs(4)			Equity Method Investees(5)			Total
(millions)
Six Months Ended June 30, 2023
Beginning balance	$	(249	)	$	(44	)	$	(1,276	)	$	(3	)	$	(1,572	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		(3	)		16			—			1			14
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		21			—			—			—			21
Other income (expense)		—			(1	)		(31	)		—			(32	)
Total		21			(1	)		(31	)		—			(11	)
Income tax expense (benefit)		(5	)		—			8			—			3
Total, net of tax		16			(1	)		(23	)		—			(8	)
Net current period other comprehensive     income (loss)		13			15			(23	)		1			6
Ending balance	$	(236	)	$	(29	)	$	(1,299	)	$	(2	)	$	(1,566	)
Six Months Ended June 30, 2022
Beginning balance	$	(358	)	$	37		$	(1,133	)	$	(4	)	$	(1,458	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		54			(89	)		30			1			(4	)
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		28			—			—			—			28
Other income (expense)		—			16			45			—			61
Total		28			16			45			—			89
Income tax expense (benefit)		(7	)		(4	)		(12	)		—			(23	)
Total, net of tax		21			12			33			—			66
Net current period other comprehensive     income (loss)		75			(77	)		63			1			62
Ending balance	$	(283	)	$	(40	)	$	(1,070	)	$	(3	)	$	(1,396	)

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $79 million, $83 million, $94 million and $119 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

(3)Net of $9 million, $13 million, $14 million and $(10) million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

(4)Net of $453 million, $445 million, $376 million and $396 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

(5)Net of $— million, $1 million, $1 million and $1 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

Virginia Power

The following table presents Virginia Power’s changes in AOCI (net of tax) and reclassifications out of AOCI by component:

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Total
(millions)
Three Months Ended June 30, 2023
Beginning balance	$	7		$	(3	)	$	4
Other comprehensive income (loss) before     reclassifications: gains (losses)		6			(1	)		5
Amounts reclassified from AOCI: (gains) losses
Total		—			—			—
Income tax expense (benefit)		—			—			—
Total, net of tax		—			—			—
Net current period other comprehensive income (loss)		6			(1	)		5
Ending balance	$	13		$	(4	)	$	9
Three Months Ended June 30, 2022
Beginning balance	$	(25	)	$	(4	)	$	(29	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		25			(3	)		22
Amounts reclassified from AOCI: (gains) losses
Total		—			—			—
Income tax expense (benefit)		—			—			—
Total, net of tax		—			—			—
Net current period other comprehensive income (loss)		25			(3	)		22
Ending balance	$	—		$	(7	)	$	(7	)

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $(4) million, $(2) million, $— million and $9 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

(3)Net of $1 million, $1 million, $3 million and $1 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Total
(millions)
Six Months Ended June 30, 2023
Beginning balance	$	16		$	(7	)	$	9
Other comprehensive income (loss) before     reclassifications: gains (losses)		(3	)		3			—
Amounts reclassified from AOCI: (gains) losses
Total		—			—			—
Income tax expense (benefit)		—			—			—
Total, net of tax		—			—			—
Net current period other comprehensive income (loss)		(3	)		3			—
Ending balance	$	13		$	(4	)	$	9
Six Months Ended June 30, 2022
Beginning balance	$	(45	)	$	4		$	(41	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		44			(10	)		34
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		1			—			1
Other income (expense)		—			(1	)		(1	)
Total		1			(1	)		—
Income tax expense (benefit)		—			—			—
Total, net of tax		1			(1	)		—
Net current period other comprehensive income (loss)		45			(11	)		34
Ending balance	$	—		$	(7	)	$	(7	)

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $(4) million, $(5) million, $— million and $16 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

(3)Net of $1 million, $2 million, $3 million and $(2) million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

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Fair Value Measurements

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 8. Fair Value Measurements

The Companies’ fair value measurements are made in accordance with the policies discussed in Note 2 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. See Note 9 in this report for additional information about the Companies’ derivatives and hedge accounting activities.

The Companies enter into certain physical and financial forwards, futures and options, which are considered Level 3 as they have one or more inputs that are not observable and are significant to the valuation. The discounted cash flow method is used to value Level 3 physical and financial forwards and futures contracts. An option model is used to value Level 3 physical options. The discounted cash flow model for forwards and futures calculates mark-to-market valuations based on forward market prices, original transaction prices, volumes, risk-free rate of return and credit spreads. The option model calculates mark-to-market valuations using variations of the Black-Scholes option model. The inputs into the models are the forward market prices, implied price volatilities, risk-free rate of return, the option expiration dates, the option strike prices, the original sales prices and volumes. For Level 3 fair value measurements, certain forward market prices and implied price volatilities are considered unobservable.

The following table presents the Companies' quantitative information about Level 3 fair value measurements at June 30, 2023. The range and weighted average are presented in dollars for market price inputs and percentages for price volatility.

				Dominion Energy				Virginia Power
	Valuation Techniques	Unobservable Input		Fair Value (millions)		Range	Weighted Average(1)	Fair Value (millions)		Range	Weighted Average(1)
Assets
Physical and financial forwards:
Electricity	Discounted    cash flow	Market price    (per MWh)	(3)	$	141	25-138	47		—	—	—
Physical options:
Natural gas(2)	Option model	Market price    (per Dth)	(3)		15	1-8	4		15	1-8	4
		Price volatility	(4)			19%-72%	51%			19%-72%	51%
Total assets				$	156			$	15
Liabilities
Physical and financial forwards:
Natural gas(2)	Discounted    cash flow	Market price    (per Dth)	(3)	$	18	(2)-2	(1)	$	18	(2)-2	(1)
Electricity	Discounted    cash flow	Market price    (per MWh)	(3)		4	32-138	64		—	—	—
Total    liabilities				$	22			$	18

(1)Averages weighted by volume.

(2)Includes basis.

(3)Represents market prices beyond defined terms for Levels 1 and 2.

(4)Represents volatilities unrepresented in published markets.

Sensitivity of the fair value measurements to changes in the significant unobservable inputs is as follows:

Significant Unobservable Inputs	Position	Change to Input	Impact on Fair Value Measurement
Market price	Buy	Increase (decrease)	Gain (loss)
Market price	Sell	Increase (decrease)	Loss (gain)
Price volatility	Buy	Increase (decrease)	Gain (loss)
Price volatility	Sell	Increase (decrease)	Loss (gain)

Nonrecurring Fair Value Measurements

See Note 10 for information regarding nonrecurring fair value measurements associated with Dominion Energy’s noncontrolling ownership interest in Dominion Privatization.

In the first quarter of 2023, Dominion Energy recorded a charge of $91 million ($68 million after-tax) in impairment of assets and other charges in its Consolidated Statements of Income to adjust a corporate office building down to its estimated fair value, using a market approach, of $35 million. The valuation is considered a Level 3 fair value measurement as it is based on unobservable inputs due to limited comparable market activity. The corporate office building is reflected in the Corporate and Other segment and presented as held for sale in Dominion Energy’s Consolidated Balance Sheets at June 30, 2023.

In the second quarter of 2023, Dominion Energy recorded a charge of $15 million ($11 million after-tax) presented within discontinued operations in its Consolidated Statements of Income to adjust certain nonregulated solar assets down to their estimated fair value, using a market approach, of $22 million. The valuation is considered a Level 2 fair value measurement given that it is based on bids received. As discussed in Note 3, these assets were sold in August 2023.

Recurring Fair Value Measurements

The following table presents the Companies' assets and liabilities that are measured at fair value on a recurring basis for each hierarchy level, including both current and noncurrent portions:

	Dominion Energy								Virginia Power
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
(millions)
June 30, 2023
Assets
Derivatives:
Commodity	$	1	$	194	$	156	$	351	$	1	$	73	$	15	$	89
Interest rate		—		904		—		904		—		135		—		135
Investments(1):
Equity securities:
U.S.		4,354		—		—		4,354		2,317		—		—		2,317
Fixed income:
Corporate debt instruments		—		539		—		539		—		323		—		323
Government securities		170		1,144		—		1,314		90		619		—		709
Cash equivalents and other		27		—		—		27		1		—		—		1
Total assets	$	4,552	$	2,781	$	156	$	7,489	$	2,409	$	1,150	$	15	$	3,574
Liabilities
Derivatives:
Commodity	$	—	$	332	$	22	$	354	$	—	$	150	$	18	$	168
Interest rate		—		381		—		381		—		11		—		11
Foreign currency exchange rate		—		59		—		59		—		59		—		59
Total liabilities	$	—	$	772	$	22	$	794	$	—	$	220	$	18	$	238
December 31, 2022
Assets
Derivatives:
Commodity	$	—	$	332	$	437	$	769	$	—	$	32	$	236	$	268
Interest rate		—		1,407		—		1,407		—		614		—		614
Investments(1):
Equity securities:
U.S.		3,810		—		—		3,810		2,028		—		—		2,028
Fixed income:
Corporate debt instruments		—		576		—		576		—		360		—		360
Government securities		161		1,059		—		1,220		90		542		—		632
Total assets	$	3,971	$	3,374	$	437	$	7,782	$	2,118	$	1,548	$	236	$	3,902
Liabilities
Derivatives:
Commodity	$	—	$	911	$	15	$	926	$	—	$	333	$	15	$	348
Interest rate		—		377		—		377		—		7		—		7
Foreign currency exchange rate		—		101		—		101		—		101		—		101
Total liabilities	$	—	$	1,389	$	15	$	1,404	$	—	$	441	$	15	$	456

(1)Includes investments held in the nuclear decommissioning trusts and rabbi trusts. Excludes $375 million and $404 million of assets at Dominion Energy, inclusive of $152 million and $161 million at Virginia Power, at June 30, 2023 and December 31, 2022, respectively, measured at fair value using NAV (or its equivalent) as a practical expedient which are not required to be categorized in the fair value hierarchy.

The following table presents the net change in the Companies' assets and liabilities measured at fair value on a recurring basis and included in the Level 3 fair value category:

	Dominion Energy												Virginia Power
	Quarter-to-Date						Year-to-Date						Quarter-to-Date						Year-to-Date
Period Ended June 30,	2023			2022			2023			2022			2023			2022			2023			2022
(millions)
Beginning balance	$	206		$	202		$	422		$	222		$	55		$	22		$	221		$	102
Total realized and unrealized gains     (losses):
Included in earnings:
Operating revenue		2			—			2			—			—			—			—			—
Electric fuel and other energy- related purchases		(36	)		117			(87	)		165			(36	)		106			(88	)		151
Included in regulatory assets/     liabilities		(74	)		261			(290	)		241			(58	)		206			(224	)		126
Settlements		36			(117	)		71			(165	)		36			(106	)		72			(151	)
Purchases		—			17			16			17			—			17			16			17
Ending balance	$	134		$	480		$	134		$	480		$	(3	)	$	245		$	(3	)	$	245

Dominion Energy had $2 million of unrealized gains included in earnings in the Level 3 fair value category related to assets/liabilities still held at the reporting date for the three and six months ended June 30, 2023 and no unrealized gains or losses for the three and six months ended June 30, 2022. Virginia Power had no unrealized gains or losses for the three and six months ended June 30, 2023 and June 30, 2022.

Fair Value of Financial Instruments

Substantially all of the Companies’ financial instruments are recorded at fair value, with the exception of the instruments described below, which are reported at historical cost. Estimated fair values have been determined using available market information and valuation methodologies considered appropriate by management. The carrying amount of cash, restricted cash and equivalents, customer and other receivables, affiliated receivables, short-term debt, affiliated current borrowings, payables to affiliates and accounts payable are representative of fair value because of the short-term nature of these instruments. For the Companies' financial instruments that are not recorded at fair value, the carrying amounts and estimated fair values are as follows:

	Dominion Energy				Virginia Power
	Carrying Amount		Estimated Fair Value(1)		Carrying Amount		Estimated Fair Value(1)
(millions)
June 30, 2023
Long-term debt(2)	$	41,887	$	38,876	$	16,399	$	14,909
Supplemental credit facility borrowings		450		450
Junior subordinated notes(2)		1,387		1,349
December 31, 2022
Long-term debt(2)	$	39,680	$	36,426	$	15,616	$	14,067
Supplemental credit facility borrowings		450		450
Junior subordinated notes(2)		1,387		1,340

(1)Fair value is estimated using market prices, where available, and interest rates currently available for issuance of debt with similar terms and remaining maturities. All fair value measurements are classified as Level 2. The carrying amount of debt issuances with short-term maturities and variable rates refinanced at current market rates is a reasonable estimate of their fair value.

(2)Carrying amount includes current portions presented in securities due within one year and amounts which represent the unamortized debt issuance costs and discount or premium. Additionally, the Dominion Energy carrying amount includes portions classified as held for sale and presented in current liabilities held for sale and noncurrent liabilities held for sale.

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Derivatives and Hedge Accounting Activities

6 Months Ended

Jun. 30, 2023

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivatives and Hedge Accounting Activities

Note 9. Derivatives and Hedge Accounting Activities

The Companies’ accounting policies, objectives and strategies for using derivative instruments are discussed in Note 2 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. See Note 8 in this report for additional information about fair value measurements and associated valuation methods for derivatives.

Cash collateral is used in the table below to offset derivative assets and liabilities. In February 2022, Dominion Energy entered into contracts representing offsetting positions to certain existing exchange contracts with collateral requirements as well as new over-the-counter transactions that are not subject to collateral requirements. These contracts resulted in positions which limit the risk of increased cash collateral requirements. Certain accounts receivable and accounts payable recognized on the Companies’ Consolidated Balance Sheets, letters of credit and other forms of securities, as well as certain other long-term debt, all of which are not included in the tables below, are subject to offset under master netting or similar arrangements and would reduce the net exposure. See Note 18 for additional information regarding credit-related contingent features for the Companies’ derivative instruments.

Balance Sheet Presentation

The tables below present the Companies' derivative asset and liability balances by type of financial instrument, if the gross amounts recognized in their Consolidated Balance Sheets were netted with derivative instruments and cash collateral received or paid:

	Dominion Energy Gross Amounts Not Offset in the Consolidated Balance Sheet								Virginia Power Gross Amounts Not Offset in the Consolidated Balance Sheet
	Gross Assets Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Received		Net Amounts		Gross Assets Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
June 30, 2023
Commodity contracts:
Over-the-counter	$	162	$	55	$	—	$	107	$	78	$	32	$	—	$	46
Exchange		55		55		—		—		10		10		—		—
Interest rate contracts:
Over-the-counter		904		214		—		690		135		2		—		133
Total derivatives,    subject to a    master netting    or similar    arrangement	$	1,121	$	324	$	—	$	797	$	223	$	44	$	—	$	179
December 31, 2022
Commodity contracts:
Over-the-counter	$	408	$	28	$	—	$	380	$	238	$	7	$	—	$	231
Exchange		160		159		—		1		—		—		—		—
Interest rate contracts:
Over-the-counter		1,407		248		—		1,159		614		38		—		576
Total derivatives,    subject to a    master netting    or similar    arrangement	$	1,975	$	435	$	—	$	1,540	$	852	$	45	$	—	$	807

(1)Excludes derivative assets of $134 million and $201 million at Dominion Energy and $1 million and $30 million at Virginia Power at June 30, 2023 and December 31, 2022, respectively, which are not subject to master netting or other similar arrangements.

	Dominion Energy Gross Amounts Not Offset in the Consolidated Balance Sheet								Virginia Power Gross Amounts Not Offset in the Consolidated Balance Sheet
	Gross Liabilities Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Paid		Net Amounts		Gross Liabilities Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
June 30, 2023
Commodity contracts:
Over-the-counter	$	209	$	55	$	—	$	154	$	67	$	32	$	—	$	35
Exchange		145		55		90		—		23		10		13		—
Interest rate contracts:
Over-the-counter		381		214		1		166		11		2		—		9
Foreign currency exchange rate contracts:
Over-the-counter		59		—		—		59		59		—		—		59
Total derivatives,    subject to a    master netting    or similar    arrangement	$	794	$	324	$	91	$	379	$	160	$	44	$	13	$	103
December 31, 2022
Commodity contracts:
Over-the-counter	$	443	$	34	$	71	$	338	$	146	$	13	$	71	$	62
Exchange		483		159		324		—		176		—		176		—
Interest rate contracts:
Over-the-counter		377		210		1		166		7		—		—		7
Foreign currency exchange rate contracts:
Over-the-counter		101		32		—		69		101		32		—		69
Total derivatives,    subject to a    master netting    or similar    arrangement	$	1,404	$	435	$	396	$	573	$	430	$	45	$	247	$	138

(1)Excludes derivative liabilities of $78 million and $26 million at Virginia Power at June 30, 2023 and December 31, 2022, respectively, which are not subject to master netting or similar arrangements. Dominion Energy did not have any derivative liabilities at June 30, 2023 and December 31, 2022 which were not subject to master netting or similar arrangements.

Volumes

The following table presents the volume of the Companies' derivative activity at June 30, 2023. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of its long and short positions.

	Dominion Energy				Virginia Power
	Current		Noncurrent		Current		Noncurrent
Natural Gas (bcf):
Fixed price(1)		43		14		40		14
Basis(2)		157		375		138		372
Electricity (MWh in millions):
Fixed price		17		44		8		13
Oil (Gal in millions)		6		—		6		—
Interest rate(3) (in millions)	$	524	$	11,758	$	125	$	2,750
Foreign currency exchange rate(3) (in millions)
Danish Krone	1,004 kr.		3,468 kr.		1,004 kr.		3,468 kr.
Euro	€453		€2,131		€453		€2,131

(1)Includes options at Dominion Energy.

(2)Includes options.

(3)Maturity is determined based on final settlement period.

AOCI

The following table presents selected information related to gains and losses on cash flow hedges included in AOCI in the Companies' Consolidated Balance Sheets at June 30, 2023:

	Dominion Energy							Virginia Power
	AOCI After-Tax			Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax			Maximum Term	AOCI After-Tax		Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax		Maximum Term
(millions)
Interest rate	$	(236	)	$	(33	)	390 months	$	13	$	—	390 months
Total	$	(236	)	$	(33	)		$	13	$	—

The amounts that will be reclassified from AOCI to earnings will generally be offset by the recognition of the hedged transactions (e.g., interest rate payments) in earnings, thereby achieving the realization of prices contemplated by the underlying risk management strategies and will vary from the expected amounts presented above as a result of changes in interest rates.

Fair Value and Gains and Losses on Derivative Instruments

The following table presents the fair values of the Companies' derivatives and where they are presented in their Consolidated Balance Sheets:

	Dominion Energy						Virginia Power
	Fair Value – Derivatives under Hedge Accounting		Fair Value – Derivatives not under Hedge Accounting		Total Fair Value		Fair Value – Derivatives under Hedge Accounting		Fair Value – Derivatives not under Hedge Accounting		Total Fair Value
(millions)
At June 30, 2023
ASSETS
Current Assets
Commodity	$	—	$	129	$	129	$	—	$	43	$	43
Interest rate		18		113		131		18		—		18
Total current derivative assets(1)		18		242		260		18		43		61
Noncurrent Assets
Commodity		—		222		222		—		46		46
Interest rate		117		656		773		117		—		117
Total noncurrent derivative assets(2)		117		878		995		117		46		163
Total derivative assets	$	135	$	1,120	$	1,255	$	135	$	89	$	224
LIABILITIES
Current Liabilities
Commodity	$	—	$	240	$	240	$	—	$	117	$	117
Interest rate		—		83		83		—		—		—
Foreign currency exchange rate		—		9		9		—		9		9
Total current derivative liabilities(3)		—		332		332		—		126		126
Noncurrent Liabilities
Commodity		—		114		114		—		51		51
Interest rate		11		287		298		11		—		11
Foreign currency exchange rate		—		50		50		—		50		50
Total noncurrent derivative liabilities(4)		11		451		462		11		101		112
Total derivative liabilities	$	11	$	783	$	794	$	11	$	227	$	238
At December 31, 2022
ASSETS
Current Assets
Commodity	$	—	$	532	$	532	$	—	$	264	$	264
Interest rate		501		104		605		501		—		501
Total current derivative assets(1)		501		636		1,137		501		264		765
Noncurrent Assets
Commodity		—		237		237		—		4		4
Interest rate		113		689		802		113		—		113
Total noncurrent derivative assets(2)		113		926		1,039		113		4		117
Total derivative assets	$	614	$	1,562	$	2,176	$	614	$	268	$	882
LIABILITIES
Current Liabilities
Commodity	$	—	$	700	$	700	$	—	$	290	$	290
Interest rate		—		70		70		—		—		—
Foreign currency exchange rate		—		8		8		—		8		8
Total current derivative liabilities(3)		—		778		778		—		298		298
Noncurrent Liabilities
Commodity		—		226		226		—		58		58
Interest rate		7		300		307		7		—		7
Foreign currency exchange rate		—		93		93		—		93		93
Total noncurrent derivative liabilities(4)		7		619		626		7		151		158
Total derivative liabilities	$	7	$	1,397	$	1,404	$	7	$	449	$	456

(1)Includes $2 million and $118 million recorded in current assets held for sale in Dominion Energy's Consolidated Balance Sheets at June 30, 2023 and December 31, 2022, respectively.

(2)Noncurrent derivative assets are presented in other deferred charges and other assets in the Companies’ Consolidated Balance Sheets, with the exception of $1 million recorded in noncurrent assets held for sale in Dominion Energy's Consolidated Balance Sheets at December 31, 2022.

(3)Includes $13 million and $6 million recorded in current liabilities held for sale in Dominion Energy's Consolidated Balance Sheets at June 30, 2023 and December 31, 2022, respectively.

(4)Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in the Companies' Consolidated Balance Sheets, with the exception of $1 million recorded in noncurrent liabilities held for sale in Dominion Energy's Consolidated Balance Sheets at both June 30, 2023 and December 31, 2022.

The following tables present the gains and losses on the Companies' derivatives, as well as where the associated activity is presented in their Consolidated Balance Sheets and Statements of Income.

	Dominion Energy									Virginia Power
Derivatives in    cash flow    hedging relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)			Amount of Gain (Loss) Recognized in AOCI on Derivatives(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)
(millions)
Three Months Ended June 30, 2023
Derivative type and location of gains (losses):
Interest rate(3)	$	8		$	(10	)	$	88		$	8		$	—		$	88
Total	$	8		$	(10	)	$	88		$	8		$	—		$	88
Three Months Ended June 30, 2022
Derivative type and location of gains (losses):
Interest rate(3)	$	39			(14	)	$	354		$	33		$	—		$	353
Total	$	39		$	(14	)	$	354		$	33		$	—		$	353
Six Months Ended June 30, 2023
Derivative type and location of gains (losses):
Interest rate(3)	$	(4	)	$	(21	)	$	(32	)	$	(4	)	$	—		$	(32	)
Total	$	(4	)	$	(21	)	$	(32	)	$	(4	)	$	—		$	(32	)
Six Months Ended June 30, 2022
Derivative type and location of gains (losses):
Interest rate(3)	$	72		$	(28	)	$	633		$	59		$	(1	)	$	632
Total	$	72		$	(28	)	$	633		$	59		$	(1	)	$	632

(1)Amounts deferred into AOCI have no associated effect in the Companies' Consolidated Statements of Income.

(2)Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in the Companies' Consolidated Statements of Income.

(3)Amounts recorded in the Companies' Consolidated Statement of Income are classified in interest and related charges.

	Amount of Gain (Loss) Recognized in Income on Derivatives(1)(2)
Derivatives not designated as hedging instruments	Dominion Energy												Virginia Power
	Quarter-to-Date						Year-to-Date						Quarter-to-Date						Year-to-Date
Period Ended June 30,	2023			2022			2023			2022			2023			2022			2023			2022
(millions)
Derivative type and location of gains (losses):
Commodity:
Operating revenue	$	26		$	(272	)	$	421		$	(602	)	$	10		$	(88	)	$	19		$	(129	)
Purchased gas		—			3			—			4
Electric fuel and other energy-related     purchases		(73	)		137			(118	)		196			(73	)		125			(119	)		182
Operations and maintenance		2			—			2			—			2			—			2			—
Discontinued operations		—			—			94			1
Interest rate:
Interest and related charges		29			273			(47	)		368
Discontinued operations		50			67			24			168
Total	$	34		$	208		$	376		$	135		$	(61	)	$	37		$	(98	)	$	53

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Investments

6 Months Ended

Jun. 30, 2023

Investments Debt And Equity Securities [Abstract]

Investments

Note 10. Investments

Dominion Energy

Equity and Debt Securities

Short-Term Deposit

In May 2022, Dominion Energy entered into an agreement with a financial institution and committed to make a short-term deposit of at least $1.6 billion but not more than $2.0 billion to be posted as collateral to secure its $1.6 billion redemption obligation of the Series A Preferred Stock as described in Note 16. In May 2022, Dominion Energy funded the short-term deposit in the amount of $2.0 billion, which earned interest income at an annual rate of 1.75% through its maturity in September 2022.

Rabbi Trust Securities

Equity and fixed income securities and cash equivalents in Dominion Energy’s rabbi trusts and classified as trading totaled $113 million and $111 million at June 30, 2023 and December 31, 2022, respectively.

Decommissioning Trust Securities

The Companies hold equity and fixed income securities and cash equivalents, and Dominion Energy also holds insurance contracts, in nuclear decommissioning trust funds to fund future decommissioning costs for its nuclear plants. The Companies' decommissioning trust funds are summarized below:

	Dominion Energy												Virginia Power
	Amortized Cost		Total Unrealized Gains		Total Unrealized Losses				Allowance for Credit Losses		Fair Value		Amortized Cost		Total Unrealized Gains		Total Unrealized Losses				Allowance for Credit Losses		Fair Value
(millions)
June 30, 2023
Equity securities:(1)
U.S.	$	1,397	$	2,999	$	(22	)				$	4,374	$	872	$	1,562	$	(21	)				$	2,413
Fixed income securities:(2)
Corporate debt    instruments		577		1		(47	)		$	—		531		356		1		(34	)		$	—		323
Government    securities		1,332		5		(49	)			—		1,288		731		3		(25	)			—		709
Common/    collective    trust funds		71		—		—				—		71		54		—		—				—		54
Insurance contracts		236		—		—						236
Cash equivalents    and other(3)		53		—		—				—		53		9		—		—				—		9
Total	$	3,666	$	3,005	$	(118	)	(4)	$	—	$	6,553	$	2,022	$	1,566	$	(80	)	(4)	$	—	$	3,508
December 31, 2022
Equity securities:(1)
U.S.	$	1,378	$	2,501	$	(46	)				$	3,833	$	858	$	1,304	$	(35	)				$	2,127
Fixed income securities:(2)
Corporate debt    instruments		640		1		(65	)		$	—		576		406		1		(47	)		$	—		360
Government    securities		1,252		4		(70	)			—		1,186		664		2		(35	)			—		631
Common/    collective    trust funds		98		—		—				—		98		61		—		—				—		61
Insurance contracts		221		—		—						221
Cash equivalents    and other(3)		43		—		—				—		43		23		—		—				—		23
Total	$	3,632	$	2,506	$	(181	)	(4)	$	—	$	5,957	$	2,012	$	1,307	$	(117	)	(4)	$	—	$	3,202

(1)Unrealized gains and losses on equity securities are included in other income (expense) and the nuclear decommissioning trust regulatory liability.

(2)Unrealized gains and losses on fixed income securities are included in AOCI and the nuclear decommissioning trust regulatory liability. Changes in allowance for credit losses are included in other income (expense).

(3)Dominion Energy includes pending sales of securities of $24 million and $42 million at June 30, 2023 and December 31, 2022, respectively. Virginia Power includes pending sales of securities of $9 million and $24 million at June 30, 2023, and December 31, 2022, respectively.

(4)Dominion Energy's fair value of securities in an unrealized loss position was $1.5 billion and $1.6 billion at June 30, 2023 and December 31, 2022, respectively. Virginia Power's fair value of securities in an unrealized loss position was $844 million and $946 million at June 30, 2023 and December 31, 2022, respectively.

The portion of unrealized gains and losses that relates to equity securities held within Dominion Energy and Virginia Power’s nuclear decommissioning trusts is summarized below:

	Dominion Energy										Virginia Power
	Quarter-to-Date					Year-to-Date					Quarter-to-Date					Year-to-Date
Period Ended June 30,	2023		2022			2023		2022			2023		2022			2023		2022
(millions)
Net gains (losses) recognized during    the period	$	294	$	(712	)	$	520	$	(918	)	$	153	$	(361	)	$	269	$	(463	)
Less: Net (gains) losses recognized    during the period on securities    sold during the period		1		6			3		5			2		—			3		(4	)
Unrealized gains (losses) recognized    during the period on securities still    held at period end(1)	$	295	$	(706	)	$	523	$	(913	)	$	155	$	(361	)	$	272	$	(467	)

(1)Included in other income (expense) and the nuclear decommissioning trust regulatory liability.

The fair value of Dominion Energy and Virginia Power’s fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds at June 30, 2023 by contractual maturity is as follows:

	Dominion Energy		Virginia Power
(millions)
Due in one year or less	$	91	$	59
Due after one year through five years		482		260
Due after five years through ten years		422		248
Due after ten years		895		519
Total	$	1,890	$	1,086

Presented below is selected information regarding Dominion Energy and Virginia Power’s equity and fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds.

	Dominion Energy								Virginia Power
	Quarter-to-Date				Year-to-Date				Quarter-to-Date				Year-to-Date
Period Ended June 30,	2023		2022		2023		2022		2023		2022		2023		2022
(millions)
Proceeds from sales	$	594	$	1,267	$	1,138	$	2,081	$	346	$	472	$	719	$	864
Realized gains(1)		22		75		43		115		8		10		25		26
Realized losses(1)		36		143		77		197		14		33		45		52

(1)Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.

Equity Method Investments

Dominion Energy recorded equity earnings on its investments of $3 million and $16 million for the six months ended June 30, 2023 and 2022, respectively, in other income (expense) in its Consolidated Statements of Income. In addition, Dominion Energy recorded equity earnings of $184 million and $143 million for the six months ended June 30, 2023 and 2022, respectively, in discontinued operations, including amounts primarily related to its investments in Cove Point and Atlantic Coast Pipeline discussed below. Dominion Energy received distributions of $185 million and $167 million for the six months ended June 30, 2023 and 2022,

respectively. Dominion Energy made contributions of $48 million and $90 million for the six months ended June 30, 2023 and 2022, respectively. At June 30, 2023 and December 31, 2022, the net difference between the carrying amount of Dominion Energy’s investments and its share of underlying equity in net assets was $221 million and $223 million, respectively. At June 30, 2023, these differences are primarily comprised of $9 million of equity method goodwill that is not being amortized and a $212 million basis difference from Dominion Energy’s investment in Cove Point, which is being amortized over the useful lives of the underlying assets. At December 31, 2022, these differences are comprised of $9 million of equity method goodwill that is not being amortized, $215 million basis difference from Dominion Energy’s investment in Cove Point, which is being amortized over the useful lives of the underlying assets and a net $(1) million basis difference primarily attributable to capitalized interest.

Cove Point

Prior to the completion of the sale in September 2023 as discussed below, Dominion Energy held a 50% noncontrolling limited partnership interest in Cove Point which is accounted for as an equity method investment, as discussed in Note 9 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Dominion Energy recorded distributions from Cove Point of $95 million and $85 million for the three months ended June 30, 2023 and 2022, respectively, and $178 million and $161 million for the six months ended June 30, 2023 and 2022, respectively.

In June 2023, Dominion Energy entered into an agreement with Cove Point for transportation and storage services at market rates for a 20-year period commencing in August 2023.

In July 2023, Dominion Energy entered into an agreement to sell its 50% noncontrolling limited partnership interest in Cove Point to BHE for cash consideration of $3.3 billion which closed in September 2023 after all customary closing and regulatory conditions were satisfied, including clearance under the Hart-Scott-Rodino Act and approval from the DOE. The sale is treated as an asset sale for tax purposes. In addition, Dominion Energy received proceeds of $199 million from the settlement of related interest rate derivatives. In connection with closing, Dominion Energy utilized proceeds, as required, to repay DECP Holding's term loan secured by its noncontrolling interest in Cove Point, which had an outstanding balance of $2.2 billion, and $750 million of outstanding borrowings under Dominion Energy’s two $600 million 364-day term loan facilities entered in July 2023. See Note 16 for additional information on these facilities. Dominion Energy recorded a gain on the sale of its noncontrolling interest in Cove Point of $626 million ($348 million after-tax) within discontinued operations in its Consolidated Statements of Income.

In September 2023, as a result of Dominion Energy entering agreements for the East Ohio, PSNC and Questar Gas Transactions, Dominion Energy’s 50% noncontrolling limited partnership interest in Cove Point also met the requirements to be presented as discontinued operations and held for sale as both disposition activities were executed in connection with Dominion Energy’s comprehensive business review announced in November 2022. In addition, interest expense associated with DECP Holding's term loan secured by its noncontrolling interest in Cove Point and related interest rate derivatives have been classified as discontinued operations. As a result, the previously reported amounts have been recast to reflect this presentation.

Amounts presented within discontinued operations within Dominion Energy’s Consolidated Statements of Income for the three and six months ended June 30, 2023 include $90 million and $166 million of earnings on equity method investees, $(11) million and $51 million of interest expense (benefit) and $21 million and $24 million of income tax expense, respectively. Such amounts for the three and six months ended June 30, 2022 were $74 million and $147 million of earnings on equity method investees, $(49) million and $(140) million of interest expense (benefit) and $26 million and $61 million of income tax expense. Dominion Energy’s Consolidated Balance Sheets at both June 30, 2023 and December 31, 2022 include $2.7 billion within noncurrent assets held for sale for Dominion Energy’s 50% noncontrolling limited partnership interest in Cove Point.

Atlantic Coast Pipeline

A description of Dominion Energy’s investment in Atlantic Coast Pipeline, including events that led to the cancellation of the Atlantic Coast Pipeline Project in July 2020, is included in Note 9 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

At June 30, 2023 and December 31, 2022, Dominion Energy has recorded a liability of $52 million and $114 million, respectively, in other current liabilities in its Consolidated Balance Sheets as a result of its share of equity losses exceeding its investment which reflects Dominion Energy’s obligations on behalf of Atlantic Coast Pipeline related to its AROs.

Dominion Energy recorded $41 million of contributions to Atlantic Coast Pipeline during the six months ended June 30, 2023. Dominion Energy made no contributions to Atlantic Coast Pipeline during the six months ended June 30, 2022.

Dominion Energy expects to incur additional losses from Atlantic Coast Pipeline as it completes wind-down activities. While Dominion Energy is unable to precisely estimate the amounts to be incurred by Atlantic Coast Pipeline, the portion of such amounts attributable to Dominion Energy is not expected to be material to Dominion Energy’s results of operations, financial position or statement of cash flows.

Wrangler

A description of Dominion Energy’s investment in Wrangler (through March 2022) is included in Note 9 to the Consolidated Financial Statements in Dominion Energy’s Annual Report on Form 10-K for the year ended December 31, 2022.

In March 2022, Dominion Energy sold its remaining 15% noncontrolling partnership interest in Wrangler to Interstate Gas Supply, Inc. for cash consideration of $85 million. Dominion Energy recognized a gain of $11 million ($8 million after-tax), included in other income (expense), in its Consolidated Statements of Income for the six months ended June 30, 2022.

Dominion Privatization

Dominion Energy holds a 50% noncontrolling ownership interest in Dominion Privatization which is accounted for as an equity method investment, as discussed in Note 9 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

In March 2022, Dominion Energy completed its initial contribution of privatization operations in South Carolina (excluding contracts held by DESC), Texas and Pennsylvania to Dominion Privatization for total consideration of $120 million, subject to customary closing adjustments, comprised of $60 million in cash proceeds and a 50% noncontrolling ownership interest in Dominion Privatization with an initial fair value of $60 million, estimated using the market approach. This was considered a Level 2 fair value measurement given that it was based on the agreed-upon sales price. In the first quarter of 2022, Dominion Energy recorded a gain of $23 million ($16 million after-tax), presented in losses (gains) on sales of assets in its Consolidated Statements of Income.

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Property, Plant and Equipment

6 Months Ended

Jun. 30, 2023

Property Plant And Equipment [Abstract]

Property, Plant and Equipment

Note 11. Property, Plant and Equipment

Acquisitions of Nonregulated Solar Projects

Other than the item discussed below, there have been no significant updates to acquisitions of solar projects by the Companies from those discussed in Note 10 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

In March 2023, Dominion Energy entered into an agreement to acquire the Foxhound solar development project in Virginia (reflected in Contracted Energy) with closing on the agreement expected in 2024. The project is expected to cost approximately $205 million, including the initial acquisition cost, and commence commercial operations in 2024 with a generating capacity of 83 MW. Dominion Energy expects to claim production tax credits on the energy generated and sold by the project. Dominion Energy anticipates that an impairment charge may be required upon closing given its expectation that it is more likely than not that the nonregulated solar generation projects within Contracted Energy will be sold before the end of their useful lives as described in Note 10 to the Consolidated Financial Statements in Dominion Energy’s Annual Report on Form 10-K for the year ended December 31, 2022.

Sale of Utility Property

In June 2022, Dominion Energy completed the sale of certain utility property in South Carolina, as approved by the South Carolina Commission in May 2022, for total cash consideration of $16 million. In connection with the sale, Dominion Energy recognized a gain of $16 million ($12 million after-tax), recorded in losses (gains) on sales of assets, in its Consolidated Statements of Income for the three and six months ended June 30, 2022.

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Regulatory Assets and Liabilities

6 Months Ended

Jun. 30, 2023

Regulated Operations [Abstract]

Regulatory Assets and Liabilities

Note 12. Regulatory Assets and Liabilities

Regulatory assets and liabilities include the following:

	Dominion Energy				Virginia Power
	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
(millions)
Regulatory assets:
Deferred cost of fuel used in electric generation(1)	$	401	$	603	$	50	$	133
Deferred rider costs for Virginia electric utility(2)		57		152		57		152
Ash pond and landfill closure costs(3)		181		221		181		221
Deferred nuclear refueling outage costs(4)		84		83		82		83
NND Project costs(5)		138		138
Deferred early plant retirement charges(6)		113		226		113		226
Derivatives(7)		84		256		81		251
Other		236		204		63		74
Regulatory assets-current		1,294		1,883		627		1,140
Unrecognized pension and other postretirement benefit costs(8)		873		891		—		4
Deferred rider costs for Virginia electric utility(2)		610		363		610		363
Interest rate hedges(9)		169		169		—		—
AROs and related funding(10)		384		380
NND Project costs(5)		2,018		2,088
Ash pond and landfill closure costs(3)		2,024		2,051		2,021		2,049
Deferred cost of fuel used in electric generation(1)		1,310		1,551		1,310		1,551
Derivatives(7)		183		254		79		148
Other		494		518		131		132
Regulatory assets-noncurrent		8,065		8,265		4,151		4,247
Total regulatory assets	$	9,359	$	10,148	$	4,778	$	5,387
Regulatory liabilities:
Provision for future cost of removal and AROs(11)		111		111		111		111
Reserve for refunds and rate credits to electric utility customers(12)		102		125		10		25
Income taxes refundable through future rates(13)		99		100		65		65
Monetization of guarantee settlement(14)		67		67
Derivatives(7)		12		211		—		176
Other		46		134		45		129
Regulatory liabilities-current		437		748		231		506
Income taxes refundable through future rates(13)		3,126		3,169		2,243		2,272
Provision for future cost of removal and AROs(11)		1,771		1,731		1,164		1,135
Nuclear decommissioning trust(15)		1,936		1,685		1,936		1,685
Monetization of guarantee settlement(14)		669		702
Interest rate hedges(9)		196		240		196		240
Reserve for refunds and rate credits to electric utility customers(12)		274		325		—		—
Overrecovered other postretirement benefit costs(16)		152		140
Derivatives(7)		189		234		—		—
Other		263		191		260		167
Regulatory liabilities-noncurrent		8,576		8,417		5,799		5,499
Total regulatory liabilities	$	9,013	$	9,165	$	6,030	$	6,005

(1)Reflects deferred fuel expenses for the Virginia and North Carolina jurisdictions of Virginia Power's electric generation operations and additionally for Dominion Energy, deferred fuel expenses for the South Carolina jurisdiction of its electric generation operations.

(2)Reflects deferrals under Virginia Power’s electric transmission FERC formula rate and the deferral of costs associated with certain current and prospective rider projects. In the second quarter of 2023, Virginia Power recorded a charge of $36 million ($27 million after-tax), included in impairment of assets and other charges in its Consolidated Statements of Income, for the write-off of certain previously deferred amounts related to Riders R, S and W in connection with the cessation of such riders effective July 2023. See Note 13 for additional information.

(3)Primarily reflects legislation in Virginia which requires any CCR asset located at certain Virginia Power stations to be closed by removing the CCR to an approved landfill or through beneficial reuse. These deferred costs are expected to be collected over a period between 15 and 18

years commencing December 2021 through Rider CCR. Virginia Power is entitled to collect carrying costs on uncollected expenditures once expenditures have been made.

(4)Legislation in Virginia requires Virginia Power to defer operation and maintenance costs incurred in connection with the refueling of any nuclear-powered generating plant. These deferred costs will be amortized over the refueling cycle, not to exceed 18 months.

(5)Reflects expenditures by DESC associated with the NND Project, which pursuant to the SCANA Merger Approval Order, will be recovered from DESC electric service customers over a 20-year period ending in 2039.

(6)Reflects amounts from the early retirements of certain coal- and oil-fired generating units to be amortized through 2023 in accordance with the settlement of the 2021 Triennial Review. See Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 for additional information.

(7)Represents changes in the fair value of derivatives, excluding separately presented interest rate hedges, that following settlement are expected to be recovered from or refunded to customers.

(8)Represents unrecognized pension and other postretirement employee benefit costs expected to be recovered or refunded through future rates generally over the expected remaining service period of plan participants by certain of Dominion Energy's rate-regulated subsidiaries. Includes $314 million and $302 million of regulatory assets in aggregate at June 30, 2023 and December 31, 2022, respectively, related to retained pension and other postretirement benefit plan assets and obligations for the East Ohio, PSNC and Questar Gas Transactions which will be reclassified to AOCI upon closing of each transaction.

(9)Reflects interest rate hedges recoverable from or refundable to customers. Certain of these instruments are settled and any related payments are being amortized into interest expense over the life of the related debt, which has a weighted-average useful life of approximately 25 years and 24 years for Dominion Energy and Virginia Power, respectively, as of June 30, 2023.

(10)Represents uncollected costs, including deferred depreciation and accretion expense, related to legal obligations associated with the future retirement of generation, transmission and distribution properties. The AROs primarily relate to DESC’s electric generating facilities, including Summer, and are expected to be recovered over the related property lives and periods of decommissioning which may range up to approximately 105 years.

(11)Rates charged to customers by Dominion Energy and Virginia Power's regulated businesses include a provision for the cost of future activities to remove assets that are expected to be incurred at the time of retirement.

(12)Reflects amounts previously collected from retail electric customers of DESC for the NND Project to be credited over an estimated 11-year period effective February 2019, in connection with the SCANA Merger Approval Order. Also reflects amounts to be refunded to jurisdictional retail electric customers in Virginia associated with the settlement of the 2021 Triennial Review. See Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 for additional information.

(13)Amounts recorded to pass the effect of reduced income taxes from the 2017 Tax Reform Act to customers in future periods, which will primarily reverse at the weighted average tax rate that was used to build the reserves over the remaining book life of the property, net of amounts to be recovered through future rates to pay income taxes that become payable when rate revenue is provided to recover AFUDC equity.

(14)Reflects amounts to be refunded to DESC electric service customers over a 20-year period ending in 2039 associated with the monetization of a bankruptcy settlement agreement.

(15)Primarily reflects a regulatory liability representing amounts collected from Virginia jurisdictional customers and placed in external trusts (including income, losses and changes in fair value thereon, as applicable) for the future decommissioning of Virginia Power's utility nuclear generation stations, in excess of the related AROs.

(16)Reflects a regulatory liability for the collection of postretirement benefit costs allowed in rates in excess of expense incurred.

At June 30, 2023, Dominion Energy and Virginia Power regulatory assets include $4.4 billion and $2.7 billion, respectively, on which they do not expect to earn a return during the applicable recovery period. With the exception of certain items discussed above, the majority of these expenditures are expected to be recovered within the next two years.

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Regulatory Matters

6 Months Ended

Jun. 30, 2023

Regulated Operations [Abstract]

Regulatory Matters

Note 13. Regulatory Matters

Regulatory Matters Involving Potential Loss Contingencies

As a result of issues generated in the ordinary course of business, the Companies are involved in various regulatory matters. Certain regulatory matters may ultimately result in a loss; however, as such matters are in an initial procedural phase, involve uncertainty as to the outcome of pending reviews or orders, and/or involve significant factual issues that need to be resolved, it is not possible for the Companies to estimate a range of possible loss. For regulatory matters that the Companies cannot estimate, a statement to this effect is made in the description of the matter. Other matters may have progressed sufficiently through the regulatory process such that the Companies are able to estimate a range of possible loss. For regulatory matters that the Companies are able to reasonably estimate a range of possible losses, an estimated range of possible loss is provided, in excess of the accrued liability (if any) for such matters. Any estimated range is based on currently available information, involves elements of judgment and significant uncertainties and may not represent the Companies’ maximum possible loss exposure. The circumstances of such regulatory matters will change from time to time and actual results may vary significantly from the current estimate. For current matters not specifically reported below, management does not anticipate that the outcome from such matters would have a material effect on the Companies’ financial position, liquidity or results of operations.

Other Regulatory Matters

Other than the following matters, there have been no significant developments regarding the pending regulatory matters disclosed in Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Virginia Regulation - Key Legislation Affecting Operations

Virginia 2023 Legislation

In April 2023, legislation was enacted that amended several key provisions of the Regulation Act, as previously amended by the GTSA, and revised portions of the existing regulatory framework affecting Virginia Power’s operations. See Note 13 to the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, for additional information on the Regulation Act and GTSA.

The legislation resets the frequency of base rate reviews from a triennial period, as established under the GTSA, to a biennial period commencing with the 2023 Biennial Review. Such biennial reviews shall include the establishment of an authorized ROE to be utilized for base rates and riders, prospective base rates for the upcoming two-year period based on projected cost of service and a determination by the Virginia Commission as to Virginia Power’s base rate earned return for the most recently completed two-year period against the previously authorized ROE, including any potential credits to customers’ bills.

The legislation provides that the Virginia Commission will establish an authorized ROE of 9.70% for Virginia Power in the 2023 Biennial Review, reflecting the average authorized ROE of vertically integrated electric utilities by the applicable regulatory commissions in the peer group jurisdictions of Florida, Georgia, Texas, Tennessee, West Virginia, Kentucky and North Carolina. Subsequent to the 2023 Biennial Review, all provisions related to this peer group benchmarking expire and the Virginia Commission is authorized to utilize any methodology it deems to be consistent with the public interest to make future ROE determinations. In all future biennial reviews, if the Virginia Commission determines that Virginia Power’s existing base rates will, on a going-forward basis, produce revenues that are either in excess of or below its authorized rate of return, the Virginia Commission is authorized to reduce or increase such base rates, as applicable and necessary, to ensure that Virginia Power’s base rates are just and reasonable while still allowing Virginia Power to recover its costs and earn a fair rate of return. In addition, beginning with the biennial review to be filed in 2025, the Virginia Commission may, at its discretion, increase or decrease Virginia Power’s authorized ROE by up to 50 basis points based on factors that may include reliability, generating plant performance, customer service and operating efficiency, with the provisions applying to such adjustments to be determined in a future proceeding.

The legislation directs that if the Virginia Commission determines as part of the 2023 Biennial Review that Virginia Power has earned more than 70 basis points above its authorized ROE of 9.35% established in the 2021 Triennial Review that 85% of the amount of such earnings above this level be credited to customers’ bills. In future biennial reviews, beginning with the biennial review to be filed in 2025, 85% of any earnings determined by the Virginia Commission to be up to 150 basis points above Virginia Power’s authorized ROE shall be credited to customers’ bills as well as 100% of any earnings that are more than 150 basis points above Virginia Power’s authorized ROE. For the purposes of measuring any bill credits due to customers, associated income taxes are factored into the determination of such amounts. In addition, the legislation eliminates Virginia Power’s ability to utilize Virginia Commission-approved investment amounts in qualifying solar or wind generation facilities or electric distribution grid transformation projects as a CCRO to reduce or offset any earnings otherwise eligible for customer credits as previously permitted under the GTSA.

In addition to the biennial review mechanisms discussed above, the legislation also includes provisions related to other aspects of Virginia Power’s ratemaking framework.

•Riders into base rates: Virginia Power is required to combine certain riders with an aggregate annual revenue requirement of at least $350 million with its base rates effective July 2023. After such riders are combined, they will be considered as part of base rates for the purposes of the biennial review proceedings. The inclusion of such riders cannot serve as the basis for an increase in base rates as part of the 2023 Biennial Review.

•Rider consolidation: Upon determination by the Virginia Commission, certain riders, while remaining separate from base rates, may be consolidated for cost recovery and review purposes.

•Capitalization ratio: The legislation establishes that Virginia Power is required to undertake reasonable efforts to maintain a common equity capitalization to total capitalization ratio through December 2024 of 52.10%.

•Fuel cost securitization: Virginia Power is authorized, on or before July 2024, to petition the Virginia Commission for approval of a financing order for certain deferred fuel costs. Virginia Power is required to permit certain retail customers to opt out of any such deferred fuel cost securitization.

•Electric generation plant retirements: The Virginia Commission shall provide to the Virginia General Assembly, on an annual basis, a report that includes information concerning the reliability impacts of generation unit additions and retirement determinations, along with the potential impact on the purchase of power from generation assets outside of the Virginia jurisdiction, the result of which could impact the depreciable lives of Virginia Power’s electric generation facilities in future periods.

In addition, in May 2023 legislation was enacted that amended certain portions of the VCEA to qualify generation produced by Virginia Power’s biomass electric generating stations as renewable energy and eliminate the mandated retirement of such facilities by the end of 2028.

Virginia Regulation - Recent Developments

2023 Biennial Review

In July 2023, Virginia Power filed its base rate case and accompanying schedules in support of the 2023 Biennial Review in accordance with legislation enacted in Virginia in April 2023 as discussed above. Virginia Power’s earnings test analysis, as filed, demonstrated it earned a combined ROE of 9.04% on its generation and distribution services for the test period, within 70 basis points of its authorized ROE of 9.35% established in the 2021 Triennial Review. Virginia Power did not request an increase in base rates for generation and distribution services and proposed that base rates remain at their existing level utilizing an ROE of 9.70% for the prospective test periods and a common equity capitalization to total capitalization ratio of 52.10%. Virginia Power noted that while its prospective test periods would result in a revenue deficiency, it did not request an increase to base rates given that the combination of certain riders with an aggregate annual revenue requirement of at least $350 million into base rates effective July 2023 cannot serve as the basis for an increase in base rates as part of the 2023 Biennial Review. The Virginia Commission will determine whether Virginia Power’s earnings for the test period, considered as a whole, were within 70 basis points above or below the authorized ROE of 9.35%. The Virginia Commission will also authorize an ROE of 9.70%, as directed by legislation enacted in Virginia in April 2023, for Virginia Power that will be applied to Virginia Power’s riders prospectively and that will also be utilized to measure base rate earnings for the 2025 Biennial Review. This matter is pending.

Virginia Fuel Expenses

In May 2023, Virginia Power filed its annual fuel factor filing with the Virginia Commission to recover an estimated $2.3 billion in Virginia jurisdictional projected fuel expense for the rate year beginning July 1, 2023 and a projected $1.3 billion under-recovered balance as of June 30, 2023. The projected under-recovered balance includes $578 million representing the remaining two years of under-recovered balance as of June 30, 2022 being collected over a three-year period in accordance with the Virginia Commission’s approval of Virginia Power’s 2022 annual fuel factor as described in Note 13 to the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. Virginia Power proposed two alternatives to recover these under-collected fuel costs. The first option reflects recovery of the total $3.3 billion fuel cost requirement over the July 2023 through June 2024 fuel period and results in an increase in Virginia Power’s fuel revenues of $631 million when applied to projected kilowatt-hour sales for the period. The second option proposed by Virginia Power incorporates its anticipated July 2023 application to the Virginia Commission for approval of a financing order to securitize up to the projected $1.3 billion under-recovered balance as of June 30, 2023 as permitted under legislation enacted in Virginia in April 2023. Under this option, Virginia Power proposed implementation of the current period fuel factor rate only effective July 2023 on an interim basis, while suspending implementation of the prior-period fuel factor rate pending the Virginia Commission’s consideration of the securitization petition. If approved by the Virginia Commission, the securitization option results in a net decrease in Virginia Power’s fuel revenues for the rate year of approximately $541 million. In addition, Virginia Power has proposed to alter the order in which revenue from certain customers who elect to pay market-based rates would be allocated between base rates and fuel, which if approved would result in a reduction to fuel revenue of $13 million. In May 2023, the Virginia Commission ordered that, in accordance with Virginia Power’s second proposed option, only the current period fuel factor rate be implemented effective July 2023 on an interim basis. In accordance with legislation enacted in Virginia in April 2023 discussed above, in July 2023, Virginia Power filed an application with the Virginia Commission for approval of a financing order to securitize the projected $1.3 billion under-recovered fuel balance as of June 30, 2023 through the issuance of one or more tranches of bonds with tenors up to approximately ten years. These matters are pending.

Virginia Power Equity Application

In July 2023, Virginia Power requested approval from the Virginia Commission to issue and sell to Dominion Energy up to $3.25 billion of authorized but unissued shares of its common stock, no par value, through the end of 2023 in order to maintain a common equity capitalization to total capitalization ratio of 52.10% through December 2024 in accordance with legislation enacted in Virginia in April 2023 as discussed above. This matter is pending.

GTSA Filing

In March 2023, Virginia Power filed a petition with the Virginia Commission for approval of Phase III, covering 2024 through 2026, of its plan for electric distribution grid transformation projects as authorized by the GTSA. The plan includes 14 projects covering six components (i) AMI; (ii) customer information platform; (iii) grid improvement projects; (iv) physical and cyber security; (v) telecommunications infrastructure and (vi) customer education. For Phase III, the total proposed capital investment is $1.1 billion and the proposed operations and maintenance investment is $71 million. This matter is pending.

Renewable Generation Projects

In October 2022, Virginia Power filed a petition with the Virginia Commission for CPCNs to construct and operate eight utility-scale projects totaling approximately 474 MW of solar generation and 16 MW of energy storage as part of its efforts to meet the renewable generation development requirements under the VCEA. The projects, as of October 2022, are expected to cost approximately $1.2 billion in the aggregate, excluding financing costs, and be placed into service between 2024 through 2025. In April 2023, the Virginia Commission approved the petition.

Riders

Developments for significant riders associated with various Virginia Power projects are as follows:

Rider Name	Application Date	Approval Date	Rate Year Beginning	Total Revenue Requirement (millions)				Increase (Decrease) Over Previous Year (millions)
Rider CCR	February 2023	Pending	December 2023	$	194			$	(37	)
Rider CE(1)	October 2022	April 2023	May 2023		89				18
Rider GT	August 2022	April 2023	June 2023		14				(42	)
Rider GT	August 2023	Pending	June 2024		145				131
Rider GV(2)	June 2023	Pending	April 2024		132				5
Rider GV(2)	June 2023	Pending	April 2025		135				3
Rider OSW	November 2022	July 2023	September 2023		271				192
Rider PPA	December 2022	July 2023	September 2023		(22	)			(17	)
Rider R	June 2021	March 2022	April 2023		55		(8)		(4	)
Rider RGGI(3)	December 2022	July 2023	September 2023		356			N/A
Rider RPS	December 2022	July 2023	September 2023		96				(44	)
Rider S	June 2021	February 2022	April 2023		191		(8)		(1	)
Rider SNA(4)	October 2022	June 2023	September 2023		50				(57	)
Rider T1(5)	May 2023	July 2023	September 2023		879				173
Rider U(6)	June 2022	February 2023	April 2023		74				(21	)
Rider US-3	August 2022	April 2023	June 2023		40				(10	)
Rider US-3	August 2023	Pending	June 2024		37				(3	)
Rider US-4	August 2022	April 2023	June 2023		16				1
Rider US-4	August 2023	Pending	June 2024		14				(2	)
Rider W(7)	June 2022	February 2023	April 2023		105		(8)		(16	)

(1)Associated with solar generation and energy storage projects requested for approval in October 2022 and certain small-scale solar projects in addition to previously approved Rider CE projects.

(2)The total revenue requirement requested is based on an estimated retirement of Greensville County in 2058, consistent with the current estimated useful life of the facility. Virginia Power also provided an alternative approach based on an estimated retirement of Greensville County in 2045, which if utilized would result in a revenue requirement of $144 million and $148 million for rate years beginning April 2024 and April 2025, respectively.

(3)In December 2022, Virginia Power filed a petition to update and reinstate Rider RGGI to recover RGGI compliance costs incurred after July 2022 and those projected to occur through December 2023, with rate recovery from September 2023 through August 2024. For purposes of this proceeding, Virginia Power has assumed that Virginia will withdraw from RGGI on December 31, 2023, and accordingly did not project any RGGI compliance costs to be incurred after that date.

(4)Virginia Power requested approval of cost recovery of approximately $1.2 billion through Rider SNA for the first phase of nuclear life extension program which includes investments through 2024. In April 2022, Virginia Power, the Virginia Commission staff and certain interested parties filed a proposed stipulation recommending that costs incurred after February 2022 associated with the first phase of the nuclear life extension program for North Anna be deferred and requested for recovery in a subsequent Rider SNA filing.

(5)Consists of $510 million for the transmission component of Virginia Power's base rates and $369 million for Rider T1.

(6)Consists of previously approved phases of Rider U.

(7)In February 2023, the Virginia Commission also approved Virginia Power's requested revenue requirement for the rate year beginning April 2024. However, as Virginia Power provided notification in May 2023 to combine Rider W into base rates as discussed above, Rider W ceased to be separately collected effective July 2023.

(8)In May 2023, Virginia Power filed a notification with the Virginia Commission to combine Riders R, S and W, which have an aggregate revenue requirement of $351 million, into base rates effective July 2023 in accordance with legislation enacted in Virginia in April 2023.

Electric Transmission Projects

Developments for significant Virginia Power electric transmission projects approved or applied for are as follows:

Description and Location of Project	Application Date	Approval Date	Type of Line	Miles of Lines	Cost Estimate (millions)
Partial rebuild of Bristers-Ox 115 kV line in   Fauquier and Prince William Counties, Virginia	August 2022	April 2023	230 kV	15	$	40
Construct new switching station, substations,   transmission lines and related projects in Lunenberg   and Mecklenburg Counties, Virginia	October 2022	June 2023	230 kV	18		230
Construct new switching station, substation,   transmission lines and related projects in Charlotte,   Halifax and Mecklenburg Counties, Virginia	October 2022	May 2023	230 kV	26		215
Construct new Mars and Wishing Star substations,   transmission lines and related projects in Loudoun   County, Virginia	October 2022	April 2023	500/230 kV	4		720
Construct new Altair switching station, transmission   lines and related projects in Loudoun County, Virginia	November 2022	June 2023	230 kV	2		50
Rebuild of Lines #2019 and #2007 in the City of   Virginia Beach, Virginia	February 2023	Pending	230 kV	5		95
Install transformer at Possum Point substation,   rebuild and construct transmission lines and   related projects in Prince William County, Virginia	March 2023	Pending	230 kV	2		35
Partial rebuild of Line #2011 in the Cities of   Manassas and Manassas Park, Virginia and   Prince William and Fairfax Counties, Virginia	March 2023	Pending	230 kV	7		35
Construct new transmission lines and convert Jeffress   switching station in Mecklenburg County, Virginia	May 2023	Pending	230 kV	18		135
Construct new transmission lines and expand White   Oak substation in Henrico County, Virginia	June 2023	Pending	230 kV	5		45

Virginia Regulation – Select Prior Year Events

The following items were disclosed in Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 and are included in this report as they had an impact to the Companies’ Consolidated Statements of Income for the three and/or six months ended June 30, 2022.

Virginia Fuel Expenses

In May 2022, Virginia Power filed its annual fuel factor filing with the Virginia Commission to recover an estimated $2.3 billion in Virginia jurisdictional projected fuel expense for the rate year beginning July 1, 2022 and a projected $1.0 billion under-recovered balance as of June 30, 2022. In July 2022, Virginia Power, the Virginia Commission staff and another party filed a comprehensive settlement agreement, approved by the Virginia Commission in September 2022, which provided for the collection of the requested under-recovered projected fuel expense over a three-year period beginning July 1, 2022 and required that Virginia Power exclude from recovery through base rates one half of the related financing costs over the three year period. In addition, the settlement agreement affirmed Virginia Power’s proposal regarding fuel cost recovery for market-based customers. As a result, Virginia Power recorded a $191 million ($142 million after-tax) charge in the second quarter of 2022 within impairment of assets and other charges in its Consolidated Statements of Income. See Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 for additional information.

Rider RGGI

In May 2022, Virginia Power filed a petition with the Virginia Commission requesting suspension of Rider RGGI approved in August 2021. Virginia Power also requested that RGGI compliance costs incurred and unrecovered through July 2022 be recovered through existing base rates in effect during the period incurred. The Virginia Commission approved the request in June 2022. In the second quarter of 2022, Virginia Power recorded a charge of $180 million ($134 million after-tax) in impairment of assets and other charges for the amount deemed recovered through base rates through June 30, 2022, including the impact of certain non-jurisdictional customers which follow Virginia Power’s jurisdictional rate methodology. See Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 for additional information.

North Carolina Regulation

PSNC Rider D

Rider D allows PSNC to recover from customers all prudently incurred gas costs and the related portion of uncollectible expenses as well as losses on negotiated gas and transportation sales. In February 2023, PSNC submitted a filing with the North Carolina Commission for a $56 million gas cost decrease with rates effective March 2023. The North Carolina Commission approved the filing in March 2023.

PSNC Customer Usage Tracker

PSNC utilizes a customer usage tracker, a decoupling mechanism, which allows it to adjust its base rates semi-annually for residential and commercial customers based on average per customer consumption. In March 2023, PSNC submitted a filing with the North Carolina Commission for a $23 million decrease relating to the customer usage tracker. The North Carolina Commission approved the filing in March 2023 with rates effective April 2023.

South Carolina Regulation

DSM Programs

DESC has approval for a DSM rider through which it recovers expenditures related to its DSM programs. In January 2023, DESC filed an application with the South Carolina Commission seeking approval to recover $46 million of costs and net lost revenues associated with these programs, along with an incentive to invest in such programs. DESC requested that rates be effective with the first billing cycle of May 2023. In April 2023, the South Carolina Commission approved the request, effective with the first billing cycle of May 2023.

Cost of Fuel

DESC's retail electric rates include a cost of fuel component approved by the South Carolina Commission which may be adjusted periodically to reflect changes in the price of fuel purchased by DESC. In February 2023, DESC filed with the South Carolina Commission a proposal to increase the total fuel cost component of retail electric rates. DESC's proposed adjustment is designed to recover DESC's current base fuel costs, including its existing under-collected balance, over the 12-month period beginning with the first billing cycle of May 2023, along with a requested decrease to DESC's variable environmental and avoided capacity cost component. The net effect of the proposal is an annual increase of $176 million. In March 2023, DESC, the South Carolina Office of Regulatory Staff and another party of record filed a stipulation with the South Carolina Commission for approval to reduce the base fuel cost component reflecting a subsequent decrease in current fuel prices, resulting in a net annual increase of $121 million. In April 2023, the South Carolina Commission voted to approve the stipulation, with rates effective May 2023.

Electric Transmission Project

In March 2023, DESC filed an application with the South Carolina Commission requesting approval to construct and operate 19 miles of 230 kV transmission lines, a substation and associated facilities in Jasper County, South Carolina estimated to cost approximately $55 million. In July 2023, the South Carolina Commission voted to approve the request.

Electric - Other

DESC utilizes a pension costs rider approved by the South Carolina Commission which is designed to allow recovery of projected pension costs, including under-collected balances or net of over-collected balances, as applicable. The rider is typically reviewed for adjustment every 12 months with any resulting increase or decrease going into effect beginning with the first billing cycle in May. In February 2023, DESC requested that the South Carolina Commission approve an adjustment to this rider to increase annual revenue by $24 million. In April 2023, the South Carolina Commission approved the request.

Natural Gas Base Rate Case

In March 2023, DESC filed its natural gas base rate case and schedules with the South Carolina Commission. DESC proposed a non-fuel, base rate increase of $19 million effective October 2023. The base rate increase was proposed to recover significant investment in distribution infrastructure for the benefit of customers. The proposed rates would provide for an ROE of 10.38% compared to the currently authorized ROE of 10.25%. In addition, DESC elected to continue applicability of the Natural Gas Rate Stabilization Act, which allows for the adjustment of natural gas base rates annually, to its future rates and charges. This matter is pending.

Ohio Regulation

PIR Program

In 2008, East Ohio began PIR, aimed at replacing approximately 25% of its pipeline system. The Ohio Commission has approved East Ohio’s PIR program for capital investments through 2026 with 3% increases of annual capital expenditures per year.

In February 2023, East Ohio filed an application with the Ohio Commission requesting approval to adjust the PIR recovery. The filing reflects gross plant investment for 2022 of $225 million, cumulative gross plant investment of $2.4 billion and a revenue requirement of $305 million. In April 2023, the Ohio Commission approved the request.

CEP Program

In 2011, East Ohio began CEP which enables East Ohio to defer depreciation expense, property tax expense and carrying costs at the debt rate of 6.5% on capital investments not covered by its PIR program to expand, upgrade or replace its infrastructure and information technology systems as well as investments necessary to comply with the Ohio Commission or other government regulations. In April 2022, certain parties filed an appeal with the Supreme Court of Ohio appealing the Ohio Commission’s December 2020 order establishing the CEP rider, including the rate of return utilized in determining the revenue requirement. This matter is pending.

In March 2023, East Ohio filed an application with the Ohio Commission requesting approval to adjust CEP cost recovery rates for 2022 costs. The filing reflects gross plant investment for 2022 of $195 million, cumulative gross plant investment of $1.3 billion and a revenue requirement of $151 million. This matter is pending.

UEX Rider

East Ohio has approval for a UEX rider through which it recovers the bad debt expense of most customers not participating in the PIPP Plus Program. The UEX rider is adjusted annually to achieve dollar for dollar recovery of East Ohio's actual write-offs of uncollectible amounts. In July 2023, the Ohio Commission approved East Ohio's application to adjust its UEX rider to reflect an annual revenue requirement of $23 million to provide for recovery of an under-recovered accumulated bad debt expense of $9 million as of March 31, 2023, and recovery of net bad debt expense projected to total $14 million for the twelve-month period ending March 2024.

Utah Regulation

Purchased Gas

In February 2023, Questar Gas filed an application with the Utah Commission seeking approval for a $92 million gas cost increase with rates effective March 2023. Subsequently in February 2023, the Utah Commission approved a $164 million gas cost increase reflecting additional undercollected gas costs incurred in January 2023.

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Leases

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Leases

Note 14. Leases

Other than the items discussed below, there have been no significant changes regarding the Companies’ leases as described in Note 15 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Dominion Energy’s Consolidated Statements of Income include $6 million and $11 million for the three and six months ended June 30, 2023, respectively, and $7 million and $11 million for the three and six months ended June 30, 2022, respectively, of rental revenue included in operating revenue. Dominion Energy’s Consolidated Statements of Income include $2 million and $3 million for the three and six months ended June 30, 2023, respectively, and $8 million and $17 million for the three and six months ended June 30, 2022, respectively, of depreciation expense included in depreciation, depletion and amortization related to facilities subject to power purchase agreements under which Dominion Energy is the lessor.

Offshore Wind Vessel Leasing Arrangement

In December 2020, Dominion Energy signed an agreement (subsequently amended in December 2022 and May 2023) with a lessor to complete construction of and lease a Jones Act compliant offshore wind installation vessel. This vessel is designed to handle current turbine technologies as well as next generation turbines. The lessor is providing equity and has obtained financing commitments from debt investors, totaling $625 million, to fund the estimated project costs. The project is expected to be completed in late 2024 or early 2025. Dominion Energy has been appointed to act as the construction agent for the lessor, during which time Dominion Energy will request cash draws from the lessor and debt investors to fund all project costs, which totaled $367 million as of June 30, 2023. If the project is terminated under certain events of default, Dominion Energy could be required to pay up to 100% of the then funded amount.

The initial lease term will commence once construction is substantially complete and the vessel is delivered and will mature in November 2027. At the end of the initial lease term, Dominion Energy can (i) extend the term of the lease for an additional term,

subject to the approval of the participants, at current market terms, (ii) purchase the property for an amount equal to the outstanding project costs or, (iii) subject to certain terms and conditions, sell the property on behalf of the lessor to a third party using commercially reasonable efforts to obtain the highest cash purchase price for the property. If the project is sold and the proceeds from the sale are insufficient to repay the investors for the outstanding project costs, Dominion Energy may be required to make a payment to the lessor for the difference between the outstanding project costs and sale proceeds. Dominion Energy is not considered the owner during construction for financial accounting purposes and, therefore, will not reflect the construction activity in its consolidated financial statements. Dominion Energy expects to recognize a right-of-use asset and a corresponding finance lease liability at the commencement of the lease term. Dominion Energy will be considered the owner of the leased property for tax purposes, and as a result, will be entitled to tax deductions for depreciation and interest expense.

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Variable Interest Entities

6 Months Ended

Jun. 30, 2023

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Variable Interest Entities

Note 15. Variable Interest Entities

There have been no significant changes regarding the entities the Companies consider VIEs as described in Note 16 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Virginia Power

Virginia Power purchased shared services from DES, an affiliated VIE, of $113 million and $96 million for the three months ended June 30, 2023 and 2022, respectively and $226 million and $194 million for the six months ended June 30, 2023 and 2022, respectively. Virginia Power’s Consolidated Balance Sheets include amounts due to DES of $27 million and $28 million at June 30, 2023 and December 31, 2022, respectively, recorded in payables to affiliates.

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Significant Financing Transactions

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Significant Financing Transactions

Note 16. Significant Financing Transactions

Credit Facilities and Short-term Debt

The Companies use short-term debt to fund working capital requirements and as a bridge to long-term debt financings. The levels of borrowing may vary significantly during the course of the year, depending upon the timing and amount of cash requirements not satisfied by cash from operations. In addition, Dominion Energy utilizes cash and letters of credit to fund collateral requirements. Collateral requirements are impacted by commodity prices, hedging levels, Dominion Energy’s credit ratings and the credit quality of its counterparties. Other than the items discussed below, there have been no significant changes regarding the Companies’ credit facilities and short-term debt as described in Note 17 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Dominion Energy

Dominion Energy’s short-term financing is supported by its $6.0 billion joint revolving credit facility that provides for a discount in the pricing of certain annual fees and amounts borrowed by Dominion Energy under the facility if Dominion Energy achieves certain annual renewable electric generation and diversity and inclusion objectives.

At June 30, 2023, Dominion Energy’s commercial paper and letters of credit outstanding, as well as its capacity available under the credit facility, were as follows:

	Facility Limit		Outstanding Commercial Paper		Outstanding Letters of Credit		Facility Capacity Available
(millions)
Joint revolving credit facility(1)	$	6,000	$	4,172	$	16	$	1,812

(1)This credit facility matures in June 2026, with the potential to be extended by the borrowers to June 2028, and can be used by the borrowers under the credit facility to support bank borrowings and the issuance of commercial paper, as well as to support up to a combined $2.0 billion of letters of credit.

DESC and Questar Gas’ short-term financings are supported through access as co-borrowers to the joint revolving credit facility discussed above with the Companies. At June 30, 2023, the sub-limits for DESC and Questar Gas were $500 million and $250 million, respectively.

In March 2023, FERC granted DESC authority through March 2025 to issue short-term indebtedness (pursuant to Section 204 of the Federal Power Act) in amounts not to exceed $2.2 billion outstanding with maturity dates of one year or less. In addition, in March 2023, FERC granted GENCO authority through March 2025 to issue short-term indebtedness not to exceed $200 million outstanding with maturity dates of one year or less.

In addition to the credit facility mentioned above and Virginia Power's letter of credit facilities mentioned below, Dominion Energy also has a credit facility which allows Dominion Energy to issue up to approximately $30 million in letters of credit and will mature in June 2024. At both June 30, 2023 and December 31, 2022, Dominion Energy had $25 million in letters of credit outstanding under this facility.

In March 2023, Dominion Energy entered into an agreement with a financial institution which it expects to allow it to issue up to $100 million in letters of credit. At June 30, 2023, $58 million in letters of credit were issued and outstanding under this agreement.

Dominion Energy has an effective shelf registration statement with the SEC for the sale of up to $3.0 billion of variable denomination floating rate demand notes, called Dominion Energy Reliability InvestmentSM as disclosed in Note 17 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. At June 30, 2023 and December 31, 2022, Dominion Energy’s Consolidated Balance Sheets include $403 million and $347 million, respectively, with respect to such notes presented within short-term debt. The proceeds are used for general corporate purposes and to repay debt.

In January 2023, Dominion Energy entered into a $2.5 billion 364-Day term loan facility which bears interest at a variable rate and will mature in January 2024 with the proceeds to be used to repay existing long-term debt and short-term debt upon maturity and for other general corporate purposes. Concurrently, Dominion Energy borrowed an initial $1.0 billion with the proceeds used to repay long-term debt. In February and March 2023, Dominion Energy borrowed $500 million and $1.0 billion, respectively, with the proceeds used for general corporate purposes and to repay long-term debt. At June 30, 2023, Dominion Energy's Consolidated Balance Sheet includes $2.5 billion with respect to such facility presented within securities due within one year. The maximum allowed total debt to total capital ratio under the facility is consistent with such allowed ratio under Dominion Energy’s joint revolving credit facility.

In July 2023, Dominion Energy entered into two $600 million 364-day term loan facilities which bear interest at a variable rate and will mature in July 2024 with the proceeds to be used to repay existing long-term debt and/or short-term debt upon maturity and for other general corporate purposes. Subsequently in July 2023, Dominion Energy borrowed an initial $750 million in the aggregate under these facilities with the proceeds used to repay short-term debt and for general corporate purposes. Dominion Energy is permitted to make up to three additional borrowings under each agreement through November 2023, at which point any unused capacity will cease to be available to Dominion Energy. The agreements contain certain mandatory early repayment provisions, including that any after-tax proceeds in connection with a sale of Dominion Energy’s noncontrolling interest in Cove Point, following the repayment of DECP Holding’s term loan secured by its noncontrolling interest in Cove Point, be applied to any outstanding borrowings under the facilities. The maximum allowed total debt to total capital ratio under the facilities is consistent with such allowed ratio under Dominion Energy’s joint revolving credit facility.

Virginia Power

Virginia Power’s short-term financing is supported through its access as co-borrower to Dominion Energy’s $6.0 billion joint revolving credit facility. The credit facility can be used for working capital, as support for the combined commercial paper programs of the borrowers under the credit facility and for other general corporate purposes.

At June 30, 2023, Virginia Power’s share of commercial paper and letters of credit outstanding under the joint revolving credit facility with Dominion Energy, Questar Gas and DESC was as follows:

	Facility Limit(1)		Outstanding Commercial Paper		Outstanding Letters of Credit
(millions)
Joint revolving credit facility(1)	$	6,000	$	1,265	$	10

(1)The full amount of the facility is available to Virginia Power, less any amounts outstanding to co-borrowers Dominion Energy, Questar Gas and DESC. The sub-limit for Virginia Power is set pursuant to the terms of the facility but can be changed at the option of the borrowers multiple times per year. At June 30, 2023, the sub-limit for Virginia Power was $1.75 billion. If Virginia Power has liquidity needs in excess of

its sub-limit, the sub-limit may be changed or such needs may be satisfied through short-term intercompany borrowings from Dominion Energy. This credit facility matures in June 2026, with the potential to be extended by the borrowers to June 2028. The credit facility can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $2.0 billion (or the sub-limit, whichever is less) of letters of credit.

In January 2023, Virginia Power entered into a letter of credit facility which allows Virginia Power to issue up to $125 million in letters of credit and matures in January 2026. At June 30, 2023, less than $1 million in letters of credit were issued and outstanding under this facility with no amounts drawn under the letters of credit.

In March 2023, Virginia Power entered into an agreement with a financial institution, which it expects to allow it to issue up to $200 million in letters of credit. At June 30, 2023, $60 million in letters of credit were issued and outstanding under this agreement.

Long-term Debt

Unless otherwise noted, the proceeds of long-term debt issuances were used for general corporate purposes and/or to repay short-term debt.

In March 2023, Dominion Energy borrowed $450 million under its Sustainability Revolving Credit Agreement, which, as described in Note 18 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, matures in 2024 and bears interest at a variable rate with the proceeds used for general corporate purposes. In April 2023 Dominion Energy repaid $450 million borrowed for general corporate purposes. At both June 30, 2023 and December 31, 2022, Dominion Energy’s Consolidated Balance Sheets include $450 million with respect to this facility.

In March 2023, Virginia Power issued $750 million of 5.00% senior notes and $750 million of 5.45% senior notes that mature in 2033 and 2053, respectively.

In June 2023, Virginia Power remarketed three series of tax-exempt bonds, with an aggregate outstanding principal of $160 million to new investors. All three bonds will bear interest at a coupon of 3.65% until October 2027, after which they will bear interest at a market rate to be determined at that time.

Derivative Restructuring

In August 2020, Virginia Power amended a portfolio of interest rate swaps with a notional value of $900 million, extending the mandatory termination dates, as discussed in Note 18 to the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. In March 2023, Virginia Power settled the remaining outstanding interest rate swaps which would have otherwise matured in December 2023, resulting in a $448 million reduction in securities due within one year.

Preferred Stock

Dominion Energy is authorized to issue up to 20 million shares of preferred stock, which may be designated into separate classes. At June 30, 2023 and December 31, 2022, Dominion Energy had issued and outstanding 1.8 million shares of preferred stock, 0.8 million and 1.0 million of which were designated as the Series B Preferred Stock and the Series C Preferred Stock, respectively.

Dominion Energy recorded dividends of $5 million ($2.917 per share) for the three months ended June 30, 2022 and $12 million ($7.292 per share) for the six months ended June 30, 2022, on the Series A Preferred Stock. In addition, Dominion Energy recorded interest expense of $2 million on the Series A Preferred Stock for the three and six months ended June 30, 2022, following the reclassification of these shares to a mandatorily redeemable liability effective June 2022. Dominion Energy recorded dividends of $9 million ($11.625 per share) for both the three months ended June 30, 2023 and 2022 and $18 million ($23.250 per share) for both the six months ended June 30, 2023 and 2022 on the Series B Preferred Stock. Dominion Energy recorded dividends of $11 million ($10.875 per share) for both the three months ended June 30, 2023 and 2022 and $22 million ($21.750 per share) for both the six months ended June 30, 2023 and 2022 on the Series C Preferred Stock.

There have been no significant changes to Dominion Energy’s Series B Preferred Stock and Series C Preferred Stock as described in Note 19 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

2019 Corporate Units

The 2019 Equity Units, initially issued in the form of 2019 Series A Corporate Units, are described in Note 19 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Pursuant to the terms of the 2019 Equity Units, Dominion Energy conducted a final remarketing of substantially all shares of Series A Preferred Stock in May 2022 which resulted in the dividend rate for all shares of Series A Preferred Stock being reset to 1.75% for the June 2022 through August 2022 dividend period and 6.75% effective September 2022. The conversion rate on the Series A Preferred Stock did not increase as a result of the remarketing. In May 2022, Dominion Energy received a commitment from a financial institution to purchase up to 1.6 million shares of the Series A Preferred Stock in the final remarketing. Accordingly, following the settlement of the successful remarketing and approval from its Board of Directors in June 2022, Dominion Energy became obligated to redeem all outstanding shares of Series A Preferred Stock in September 2022. As such, effective June 2022, the Series A Preferred Stock was considered to be mandatorily redeemable and was classified as a current liability. In addition, Dominion Energy made a short-term deposit at the financial institution as described further in Note 10. Proceeds from the final remarketing were used on behalf of holders of 2019 Series A Corporate Units at the time of the remarketing to pay the purchase price to Dominion Energy for the issuance of its common stock under the stock purchase contracts included in such corporate units in June 2022.

Issuance of Common Stock

Dominion Energy recorded, net of fees and commissions, $85 million from the issuance of 2 million shares of common stock for the six months ended June 30, 2023 and $91 million from the issuance of 1 million shares of common stock for the six months ended June 30, 2022, through various programs including Dominion Energy Direct® and employee savings plans as described in Note 20 to the Consolidated Financial Statements to the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

In May 2022, Dominion Energy issued 0.9 million shares of its common stock, valued at $72 million, to partially satisfy DESC’s remaining obligation under a settlement agreement with the SCDOR discussed in Note 17.

In June 2022, Dominion Energy issued 0.4 million shares of its common stock, valued at $30 million, to partially satisfy its obligation under a settlement agreement for the State Court Merger Case discussed in Note 17.

In June 2022, Dominion Energy issued 19.4 million shares to settle the stock purchase contract component of the 2019 Equity Units and received proceeds of $1.6 billion.

At-the-Market Program

In August 2020, Dominion Energy entered into sales agency agreements to effect sales under an at-the-market program as discussed in Note 20 to the Consolidated Financial Statements in the Companies’ Annual Report Form 10-K for the year ended December 31, 2022. Dominion Energy did not issue any shares or enter into any forward sale agreements under this program during the three and six months ended June 30, 2023, prior to its expiration in June 2023.

Repurchase of Common Stock

In November 2020, the Board of Directors authorized the repurchase of up to $1.0 billion of Dominion Energy’s common stock in addition to the $3.0 billion repurchase program authorized in July 2020 and completed in December 2020 as discussed in Note 20 to the Consolidated Financial Statements in the Companies’ Annual Report Form 10-K for the year ended December 31, 2022.

Dominion Energy did not repurchase any shares of common stock during the six months ended June 30, 2023, except for shares tendered by employees to satisfy tax withholding obligations on vested restricted stock, which do not count against its stock repurchase authorization.

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2023

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 17. Commitments and Contingencies

As a result of issues generated in the ordinary course of business, the Companies are involved in legal proceedings before various courts and are periodically subject to governmental examinations (including by regulatory authorities), inquiries and investigations. Certain legal proceedings and governmental examinations involve demands for unspecified amounts of damages, are in an initial procedural phase, involve uncertainty as to the outcome of pending appeals or motions, or involve significant factual issues that need to be resolved, such that it is not possible for the Companies to estimate a range of possible loss. For such matters that the Companies cannot estimate, a statement to this effect is made in the description of the matter. Other matters may have progressed sufficiently through the litigation or investigative processes such that the Companies are able to estimate a range of possible loss. For legal proceedings and governmental examinations that the Companies are able to reasonably estimate a range of possible losses, an estimated range of possible loss is provided, in excess of the accrued liability (if any) for such matters. The Companies maintain various insurance programs, including general liability insurance coverage which provides coverage for personal injury or wrongful death cases. Any accrued liability is recorded on a gross basis with a receivable also recorded for any probable insurance recoveries. Estimated ranges of loss are inclusive of legal fees and net of any anticipated insurance recoveries. Any estimated range is based on

currently available information and involves elements of judgment and significant uncertainties. Any estimated range of possible loss may not represent the Companies’ maximum possible loss exposure. The circumstances of such legal proceedings and governmental examinations will change from time to time and actual results may vary significantly from the current estimate. For current proceedings not specifically reported below, management does not anticipate that the liabilities, if any, arising from such proceedings would have a material effect on the Companies’ financial position, liquidity or results of operations.

Environmental Matters

The Companies are subject to costs resulting from a number of federal, state and local laws and regulations designed to protect human health and the environment. These laws and regulations affect future planning and existing operations. They can result in increased capital, operating and other costs as a result of compliance, remediation, containment and monitoring obligations.

Air

The CAA, as amended, is a comprehensive program utilizing a broad range of regulatory tools to protect and preserve the nation’s air quality. At a minimum, states are required to establish regulatory programs to meet applicable requirements of the CAA. However, states may choose to develop regulatory programs that are more restrictive. Many of the Companies’ facilities are subject to the CAA’s permitting and other requirements.

Ozone Standards

The EPA published final non-attainment designations for the October 2015 ozone standards in June 2018 with states required to develop plans to address the new standard. Certain states in which the Companies operate have developed plans, and had such plans approved or partially approved by the EPA, which are not expected to have a material impact on the Companies’ results of operations or cash flows. In March 2023, the EPA issued a final rule specifying an interstate federal implementation plan to comply with certain aspects of planning for the 2015 ozone standards which is applicable in August 2023 for certain states, including Virginia. The interstate federal implementation plan imposes tighter NOX emissions limits during the ozone season and includes provisions for the use of allowances to cover such emissions. Until implementation plans for the 2015 ozone standards are fully developed and approved for all states in which the Companies operate, the Companies are unable to predict whether or to what extent the new rules will ultimately require additional controls. The expenditures required to implement additional controls could have a material impact on the Companies’ results of operations, financial condition and/or cash flows.

ACE Rule

In July 2019, the EPA published the final rule informally referred to as the ACE Rule, as a replacement for the Clean Power Plan. The ACE Rule regulated GHG emissions from existing coal-fired power plants pursuant to Section 111(d) of the CAA and required states to develop plans by July 2022 establishing unit-specific performance standards for existing coal-fired power plants. In January 2021, the U.S. Court of Appeals for the D.C. Circuit vacated the ACE Rule and remanded it to the EPA. This decision would take effect upon issuance of the court’s mandate. In March 2021, the court issued a partial mandate vacating and remanding all parts of the ACE Rule except for the portion of the ACE Rule that repealed the Clean Power Plan. In October 2021, the U.S. Supreme Court agreed to hear a challenge of the U.S. Court of Appeals for the D.C. Circuit’s decision on the ACE Rule. In June 2022, the U.S. Supreme Court reversed the D.C. Circuit’s decision on the ACE Rule and remanded the case back to the D.C. Circuit. In May 2023, the EPA proposed to repeal the ACE Rule as part of a package of proposed rules addressing CO2 emissions from new and existing fossil fuel-fired electric generating units. Until the EPA takes final action on this proposed rulemaking, the Companies cannot predict an impact to its operations, financial condition and/or cash flows.

Carbon Regulations

In August 2016, the EPA issued a draft rule proposing to reaffirm that a source’s obligation to obtain a PSD or Title V permit for GHGs is triggered only if such permitting requirements are first triggered by non-GHG, or conventional, pollutants that are regulated by the New Source Review program, and exceed a significant emissions rate of 75,000 tons per year of CO2 equivalent emissions. Until the EPA ultimately takes final action on this rulemaking, the Companies cannot predict the impact to their results of operations, financial condition and/or cash flows.

In December 2018, the EPA proposed revised Standards of Performance for Greenhouse Gas Emissions from New, Modified, and Reconstructed Stationary Sources. The proposed rule would amend the previous determination that the best system of emission reduction for newly constructed coal-fired steam generating units is no longer partial carbon capture and storage. Instead, the proposed revised best system of emission reduction for this source category is the most efficient demonstrated steam cycle (e.g., supercritical steam conditions for large units and subcritical steam conditions for small units) in combination with best operating practices. The proposed revision to the performance standards for coal-fired steam generating units remains pending. Until the EPA ultimately takes

final action on this rulemaking, the Companies cannot predict the impact to their results of operations, financial condition and/or cash flows.

Water

The CWA, as amended, is a comprehensive program requiring a broad range of regulatory tools including a permit program to authorize and regulate discharges to surface waters with strong enforcement mechanisms. The Companies must comply with applicable aspects of the CWA programs at their operating facilities.

Regulation 316(b)

In October 2014, the final regulations under Section 316(b) of the CWA that govern existing facilities and new units at existing facilities that employ a cooling water intake structure and that have flow levels exceeding a minimum threshold became effective. The rule establishes a national standard for impingement based on seven compliance options, but forgoes the creation of a single technology standard for entrainment. Instead, the EPA has delegated entrainment technology decisions to state regulators. State regulators are to make case-by-case entrainment technology determinations after an examination of five mandatory facility-specific factors, including a social cost-benefit test, and six optional facility-specific factors. The rule governs all electric generating stations with water withdrawals above two MGD, with a heightened entrainment analysis for those facilities over 125 MGD. Dominion Energy and Virginia Power currently have 15 and nine facilities, respectively, that are subject to the final regulations. Dominion Energy is also working with the EPA and state regulatory agencies to assess the applicability of Section 316(b) to eight hydroelectric facilities, including three Virginia Power facilities. The Companies anticipate that they may have to install impingement control technologies at certain of these stations that have once-through cooling systems. The Companies are currently evaluating the need or potential for entrainment controls under the final rule as these decisions will be made on a case-by-case basis after a thorough review of detailed biological, technological, and cost benefit studies. DESC is conducting studies and implementing plans as required by the rule to determine appropriate intake structure modifications at certain facilities to ensure compliance with this rule. While the impacts of this rule could be material to the Companies’ results of operations, financial condition and/or cash flows, the existing regulatory frameworks in South Carolina and Virginia provide rate recovery mechanisms that could substantially mitigate any such impacts for the regulated electric utilities.

Effluent Limitations Guidelines

In September 2015, the EPA released a final rule to revise the Effluent Limitations Guidelines for the Steam Electric Power Generating Category. The final rule established updated standards for wastewater discharges that apply primarily at coal and oil steam generating stations. Affected facilities are required to convert from wet to dry or closed cycle coal ash management, improve existing wastewater treatment systems and/or install new wastewater treatment technologies in order to meet the new discharge limits. In April 2017, the EPA granted two separate petitions for reconsideration of the Effluent Limitations Guidelines final rule and stayed future compliance dates in the rule. Also in April 2017, the U.S. Court of Appeals for the Fifth Circuit granted the EPA’s request for a stay of the pending consolidated litigation challenging the rule while the EPA addresses the petitions for reconsideration. In September 2017, the EPA signed a rule to postpone the earliest compliance dates for certain waste streams regulations in the Effluent Limitations Guidelines final rule from November 2018 to November 2020; however, the latest date for compliance for these regulations was December 2023. In October 2020, the EPA released the final rule that extends the latest dates for compliance. Individual facilities’ compliance dates will vary based on circumstances and the determination by state regulators and may range from 2021 to 2028. While the impacts of this rule could be material to the Companies’ results of operations, financial condition and/or cash flows, the existing regulatory frameworks in South Carolina and Virginia provide rate recovery mechanisms that could substantially mitigate any such impacts for the regulated electric utilities.

Waste Management and Remediation

The operations of the Companies are subject to a variety of state and federal laws and regulations governing the management and disposal of solid and hazardous waste, and release of hazardous substances associated with current and/or historical operations. The CERCLA, as amended, and similar state laws, may impose joint, several and strict liability for cleanup on potentially responsible parties who owned, operated or arranged for disposal at facilities affected by a release of hazardous substances. In addition, many states have created programs to incentivize voluntary remediation of sites where historical releases of hazardous substances are identified and property owners or responsible parties decide to initiate cleanups.

From time to time, the Companies may be identified as a potentially responsible party in connection with the alleged release of hazardous substances or wastes at a site. Under applicable federal and state laws, the Companies could be responsible for costs associated with the investigation or remediation of impacted sites, or subject to contribution claims by other responsible parties for their costs incurred at such sites. The Companies also may identify, evaluate and remediate other potentially impacted sites under voluntary state programs. Remediation costs may be subject to reimbursement under the Companies’ insurance policies, rate recovery

mechanisms, or both. Except as described below, the Companies do not believe these matters will have a material effect on results of operations, financial condition and/or cash flows.

Dominion Energy has determined that it is associated with former manufactured gas plant sites, including certain sites associated with Virginia Power. At 13 sites associated with Dominion Energy, remediation work has been substantially completed under federal or state oversight. Where required, the sites are following state-approved groundwater monitoring programs. Dominion Energy commenced remediation activities at one site in the second quarter of 2022. In addition, Dominion Energy has proposed remediation plans for one site at Virginia Power and expects to commence remediation activities in 2023 depending on receipt of final permits and approvals. At June 30, 2023 and December 31, 2022, Dominion Energy had $46 million and $47 million, respectively, of which $1 million at both periods is reflected in liabilities held for sale and Virginia Power had $25 million at both periods, of reserves recorded. Dominion Energy is associated with 12 additional sites, including two associated with Virginia Power, which are not under investigation by any state or federal environmental agency nor the subject of any current or proposed plans to perform remediation activities. Due to the uncertainty surrounding such sites, the Companies are unable to make an estimate of the potential financial statement impacts.

Other Legal Matters

The Companies are defendants in a number of lawsuits and claims involving unrelated incidents of property damage and personal injury. Due to the uncertainty surrounding these matters, the Companies are unable to make an estimate of the potential financial statement impacts; however, they could have a material impact on results of operations, financial condition and/or cash flows.

SCANA Legal Proceedings

The following describes certain legal proceedings involving Dominion Energy, SCANA or DESC relating primarily to events occurring before closing of the SCANA Combination. In addition, certain legal matters which have been resolved are discussed in Note 23 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. No reference to, or disclosure of, any proceeding, item or matter described below shall be construed as an admission or indication that such proceeding, item or matter is material. For certain of these matters, and unless otherwise noted therein, Dominion Energy is unable to estimate a reasonable range of possible loss and the related financial statement impacts, but for any such matter there could be a material impact to its results of operations, financial condition and/or cash flows. For the matters for which Dominion Energy is able to reasonably estimate a probable loss, Dominion Energy’s Consolidated Balance Sheets at June 30, 2023 and December 31, 2022 include reserves of $66 million and $94 million, respectively, included in other current liabilities, and insurance receivables of $72 million and $68 million, respectively, included within other receivables. These balances at June 30, 2023 and December 31, 2022 include $62 million and $68 million, respectively, of offsetting reserves and insurance receivables related to personal injury or wrongful death cases which are currently pending. During both the three and six months ended June 30, 2023 and 2022, charges included in Dominion Energy's Consolidated Statements of Income were inconsequential.

Governmental Proceedings and Investigations

In June 2018, DESC received a notice of proposed assessment of approximately $410 million, excluding interest, from the SCDOR following its audit of DESC’s sales and use tax returns for the periods September 1, 2008 through December 31, 2017. The proposed assessment, which includes 100% of the NND Project, is based on the SCDOR’s position that DESC’s sales and use tax exemption for the NND Project does not apply because the facility will not become operational. In December 2020, the parties reached an agreement in principle in the amount of $165 million to resolve this matter. In June 2021, the parties executed a settlement agreement which allows DESC to fund the settlement amount through a combination of cash, shares of Dominion Energy common stock or real estate with an initial payment of at least $43 million in shares of Dominion Energy common stock. In August 2021, Dominion Energy issued 0.6 million shares of its common stock to satisfy DESC’s obligation for the initial payment under the settlement agreement. In May 2022, Dominion Energy issued an additional 0.9 million shares of its common stock to partially satisfy DESC’s remaining obligation under the settlement agreement. In June 2022, DESC requested approval from the South Carolina Commission to transfer certain real estate with a total settlement value of $51 million to satisfy its remaining obligation under the settlement agreement. In July 2022, the South Carolina Commission voted to approve the request and issued its final order in August 2022. In September 2022, DESC transferred certain non-utility property with a fair value of $28 million to the SCDOR under the settlement agreement. In December 2022, DESC transferred additional utility property with a fair value of $3 million to the SCDOR. In October 2022, DESC filed for approval to transfer the remaining real estate with FERC which was received in November 2022. In March 2023, DESC transferred utility property with a fair value of $10 million to the SCDOR resulting in a gain of $9 million ($7 million after-tax), recorded in losses (gains) on sales of assets in Dominion Energy’s Consolidated Statements of Income for the six months ended June 30, 2023. In June 2023, DESC transferred the remaining utility property with a fair value of $11 million to the SCDOR resulting in a gain of $11 million ($8 million after-tax), recorded in losses (gains) on sales of assets in Dominion Energy's Consolidated Statements of Income for the three and six months ended June 30, 2023. In July 2023, DESC made a less than $1 million cash payment to the SCDOR to fully satisfy its remaining obligation, including applicable interest, under the settlement agreement.

Nuclear Operations

Nuclear Insurance

There have been no significant changes regarding the Companies’ nuclear insurance as described in Note 23 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

Spent Nuclear Fuel

As discussed in Note 23 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, the Companies entered into contracts with the DOE for the disposal of spent nuclear fuel under provisions of the Nuclear Waste Policy Act of 1982.

Guarantees, Surety Bonds and Letters of Credit

At June 30, 2023, Dominion Energy had issued four guarantees related to Cove Point, an equity method investment, in support of terminal services, transportation and construction. Two of the Cove Point guarantees have a cumulative maximum exposure of $1.9 billion while the other two guarantees have no maximum limit. No amounts related to these guarantees have been recorded.

In addition, at June 30, 2023, Dominion Energy had issued an additional $20 million of guarantees, primarily to support third parties. No amounts related to these guarantees have been recorded.

Dominion Energy also enters into guarantee arrangements on behalf of its consolidated subsidiaries, primarily to facilitate their commercial transactions with third parties. If any of these subsidiaries fail to perform or pay under the contracts and the counterparties seek performance or payment, Dominion Energy would be obligated to satisfy such obligation. To the extent that a liability subject to a guarantee has been incurred by one of Dominion Energy’s consolidated subsidiaries, that liability is included in the Consolidated Financial Statements. Dominion Energy is not required to recognize liabilities for guarantees issued on behalf of its subsidiaries unless it becomes probable that it will have to perform under the guarantees. Terms of the guarantees typically end once obligations have been paid. Dominion Energy currently believes it is unlikely that it would be required to perform or otherwise incur any losses associated with guarantees of its subsidiaries’ obligations.

At June 30, 2023, Dominion Energy had issued the following subsidiary guarantees:

	Maximum Exposure
(millions)
Commodity transactions(1)	$	2,861
Nuclear obligations(2)		245
Solar(3)		214
Other(4)		1,269
Total(5)(6)	$	4,589

(1)Guarantees related to commodity commitments of certain subsidiaries. These guarantees were provided to counterparties in order to facilitate physical and financial transaction related commodities and services.

(2)Guarantees primarily related to certain DGI subsidiaries regarding all aspects of running a nuclear facility.

(3)Includes guarantees to facilitate the development of solar projects.

(4)Guarantees related to other miscellaneous contractual obligations such as leases, environmental obligations, construction projects and insurance programs. Also includes guarantees entered into by Dominion Energy RNG Holdings II, Inc. on behalf of a subsidiary to facilitate construction of renewable natural gas facilities. Due to the uncertainty of workers’ compensation claims, the parental guarantee has no stated limit.

(5)Excludes Dominion Energy’s guarantee of an offshore wind installation vessel discussed in Note 14.

(6)In July 2016, Dominion Energy signed an agreement with a lessor to construct and lease a new corporate office property in Richmond, Virginia. The lessor provided equity and obtained financing commitments from debt investors, totaling $365 million, which funded total project costs. The project became substantially complete in August 2019 at which point the facility was available for Dominion Energy’s use and the five-year lease term commenced. At the end of the initial lease term, Dominion Energy can (i) extend the term of the lease for an additional five years, subject to the approval of the participants, at current market terms, (ii) purchase the property for an amount equal to the project costs or, (iii) subject to certain terms and conditions, sell the property on behalf of the lessor to a third party using commercially reasonable efforts to obtain the highest cash purchase price for the property. If the project is sold and the proceeds from the sale are insufficient to repay the investors for the project costs, Dominion Energy may be required to make a payment to the lessor, up to 87% of project costs, for the difference between the project costs and sale proceeds. At June 30, 2023, no amounts have been recorded related to this guarantee.

Additionally, at June 30, 2023, Dominion Energy had purchased $282 million of surety bonds, including $198 million at Virginia Power and $39 million related to entities held for sale, and authorized the issuance of letters of credit by financial institutions of $16 million to facilitate commercial transactions by its subsidiaries with third parties. Under the terms of surety bonds, the Companies are obligated to indemnify the respective surety bond company for any amounts paid.

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Credit Risk

6 Months Ended

Jun. 30, 2023

Risks And Uncertainties [Abstract]

Credit Risk

Note 18. Credit Risk

The Companies’ accounting policies for credit risk are discussed in Note 24 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

At June 30, 2023, Dominion Energy’s credit exposure totaled $208 million, primarily related to price risk management activities. Of this amount, investment grade counterparties, including those internally rated, represented 86%. No single counterparty, whether investment grade or non-investment grade, exceeded $47 million of exposure. At June 30, 2023, Virginia Power’s exposure related to wholesale customers totaled $63 million. Of this amount, investment grade counterparties, including those internally rated, represented 75%. No single counterparty, whether investment grade or non-investment grade, exceeded $12 million of exposure.

Credit-Related Contingent Provisions

Certain of Dominion Energy and Virginia Power's derivative instruments contain credit-related contingent provisions. These provisions require Dominion Energy and Virginia Power to provide collateral upon the occurrence of specific events, primarily a credit rating downgrade. If the credit-related contingent features underlying these instruments that are in a liability position and not fully collateralized with cash were fully triggered, Dominion Energy and Virginia Power would have been required to post additional collateral to its counterparties of $89 million and $35 million, respectively, as of June 30, 2023, and $140 million and $28 million, respectively, as of December 31, 2022. The collateral that would be required to be posted includes the impacts of any offsetting asset positions and any amounts already posted for derivatives, non-derivative contracts and derivatives elected under the normal purchases and normal sales exception, per contractual terms. Dominion Energy had posted collateral of $1 million at June 30, 2023, and both Dominion Energy and Virginia Power had posted $72 million at December 31, 2022, related to derivatives with credit-related contingent provisions that are in a liability position and not fully collateralized with cash. Virginia Power had no such collateral posted at June 30, 2023. In addition, Dominion Energy and Virginia Power had both posted letters of credit as collateral with counterparties covering $4 million and $20 million of fair value of derivative instruments in a liability position at June 30, 2023 and December 31, 2022, respectively. The aggregate fair value of all derivative instruments with credit related contingent provisions that are in a liability position and not fully collateralized with cash for Dominion Energy and Virginia Power was $90 million and $35 million, respectively, as of June 30, 2023 and $212 million and $99 million, respectively, as of December 31, 2022, which does not include the impact of any offsetting asset positions.

See Note 9 for additional information about derivative instruments.

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Related-Party Transactions

6 Months Ended

Jun. 30, 2023

Related Party Transactions [Abstract]

Related-Party Transactions

Note 19. Related-Party Transactions

Dominion Energy’s transactions with equity method investments are described in Note 10. Virginia Power engages in related-party transactions primarily with other Dominion Energy subsidiaries (affiliates). Virginia Power’s receivable and payable balances with affiliates are settled based on contractual terms or on a monthly basis, depending on the nature of the underlying transactions. Virginia Power is included in Dominion Energy's consolidated federal income tax return and, where applicable, combined income tax returns for Dominion Energy are filed in various states. A discussion of Virginia Power's significant related-party transactions follows.

Virginia Power transacts with affiliates for certain quantities of natural gas and other commodities in the ordinary course of business. Virginia Power also enters into certain commodity derivative contracts with affiliates. Virginia Power uses these contracts, which are principally comprised of forward commodity purchases, to manage commodity price risks associated with purchases of natural gas. At June 30, 2023, Virginia Power’s derivative assets and liabilities with affiliates were $1 million and $89 million, respectively. At December 31, 2022, Virginia Power’s derivative assets and liabilities with affiliates were $33 million and $31 million, respectively. See Note 9 for additional information.

Virginia Power participates in certain Dominion Energy benefit plans described in Note 22 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022. At June 30, 2023 and December 31, 2022, amounts due to Dominion Energy associated with the Dominion Energy Pension Plan and included in other deferred credits and other liabilities in the Consolidated Balance Sheets were $439 million and $422 million, respectively. At June 30, 2023 and December 31, 2022, Virginia Power's amounts due from Dominion Energy associated with the Dominion Energy Retiree Health and Welfare Plan and included in other deferred charges and other assets in the Consolidated Balance Sheets were $550 million and $518 million, respectively.

DES and other affiliates provide accounting, legal, finance and certain administrative and technical services and licenses to Virginia Power. In addition, Virginia Power provides certain services to affiliates, including charges for facilities and equipment usage.

The financial statements for all years presented include costs for certain general, administrative and corporate expenses assigned by DES to Virginia Power on the basis of direct and allocated methods in accordance with Virginia Power’s services agreements with DES. Where costs incurred cannot be determined by specific identification, the costs are allocated based on the proportional level of effort devoted by DES resources that is attributable to the entity, determined by reference to number of employees, salaries and wages and other similar measures for the relevant DES service. Management believes the assumptions and methodologies underlying the allocation of general corporate overhead expenses are reasonable.

Presented below are Virginia Power’s significant transactions with DES and other affiliates:

	Quarter-to-Date				Year-to-Date
Period Ended June 30,	2023		2022		2023		2022
(millions)
Commodity purchases from affiliates	$	103	$	291	$	317	$	584
Services provided by affiliates(1)		145		123		292		253
Services provided to affiliates		4		5		8		9

(1)Includes capitalized expenditures of $46 million and $39 million for the three months ended June 30, 2023 and 2022, respectively, and $100 million and $78 million for the six months ended June 30, 2023 and 2022, respectively.

Virginia Power has borrowed funds from Dominion Energy under short-term borrowing arrangements. There were $2.3 billion and $2.0 billion in short-term demand note borrowings from Dominion Energy as of June 30, 2023 and December 31, 2022, respectively. Virginia Power had no outstanding borrowings, net of repayments, under the Dominion Energy money pool for its nonregulated subsidiaries as of June 30, 2023 and December 31, 2022. Interest charges related to Virginia Power’s borrowings from Dominion Energy were $21 million and $45 million for the three and six months ended June 30, 2023, respectively, and inconsequential for the three and six months ended June 30, 2022.

There were no issuances of Virginia Power’s common stock to Dominion Energy for the three and six months ended June 30, 2023 and 2022.

In January 2023, Virginia Power entered into a lease contract with an affiliated entity for the use of a Jones Act compliant offshore wind installation vessel currently under development with commencement of the 20-month lease term in August 2025 at a total cost of approximately $240 million plus ancillary services.

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Employee Benefit Plans

6 Months Ended

Jun. 30, 2023

Compensation And Retirement Disclosure [Abstract]

Employee Benefit Plans

Note 20. Employee Benefit Plans

Net Periodic Benefit (Credit) Cost

The service cost component of net periodic benefit (credit) cost is reflected in other operations and maintenance expense in Dominion Energy’s Consolidated Statements of Income, except for $4 million and $8 million for the three and six months ended June 30, 2023, respectively, and $6 million and $12 million for the three and six months ended June 30, 2022, respectively, presented in discontinued operations. The non-service cost components of net periodic benefit (credit) cost are reflected in other income (expense) in Dominion Energy’s Consolidated Statements of Income, except for $(12) million and $(23) million for the three and six months ended June 30, 2023, respectively, and $(10) million and $(21) million for the three and six months ended June 30, 2022, respectively, presented in discontinued operations. The components of Dominion Energy’s provision for net periodic benefit cost (credit) are as follows:

	Pension Benefits												Other Postretirement Benefits
	Quarter-to-Date						Year-to-Date						Quarter-to-Date						Year-to-Date
Period Ended June 30,	2023			2022			2023			2022			2023			2022			2023			2022
(millions)
Service cost	$	24		$	35		$	48		$	71		$	4		$	5		$	7		$	11
Interest cost		110			84			221			167			16			12			31			23
Expected return on plan assets		(216	)		(223	)		(432	)		(446	)		(38	)		(48	)		(76	)		(96	)
Amortization of prior service    cost (credit)		—			—			—			—			(9	)		(9	)		(18	)		(19	)
Amortization of net actuarial    (gain) loss		—			40			—			80			(2	)		(1	)		(3	)		(1	)
Net periodic benefit    (credit) cost	$	(82	)	$	(64	)	$	(163	)	$	(128	)	$	(29	)	$	(41	)	$	(59	)	$	(82	)

Employer Contributions

During the three and six months ended June 30, 2023, Dominion Energy made no contributions to its qualified defined benefit pension plans or other postretirement benefit plans. Dominion Energy is not required to make any contributions to its qualified defined benefit pension plans or to VEBAs associated with its other postretirement plans in 2023. Dominion Energy considers voluntary contributions from time to time, either in the form of cash or equity securities.

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Operating Segments

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Operating Segments

Note 21. Operating Segments

The Companies are organized primarily on the basis of products and services sold in the U.S. A description of the operations included in the Companies’ primary operating segments effective September 2023 is as follows:

Primary Operating Segment	Description of Operations	Dominion Energy	Virginia Power
Dominion Energy Virginia	Regulated electric distribution	X	X
	Regulated electric transmission	X	X
	Regulated electric generation fleet(1)	X	X
Dominion Energy South Carolina	Regulated electric distribution	X
	Regulated electric transmission	X
	Regulated electric generation fleet	X
	Regulated gas distribution and storage	X
Contracted Energy(2)	Nonregulated electric generation fleet(3)	X

(1)Includes Virginia Power’s non-jurisdictional solar generation operations.

(2)Includes renewable natural gas operations.

(3)Includes solar generation facility development operations.

In addition to the operating segments above, the Companies also report a Corporate and Other segment.

Dominion Energy

The Corporate and Other Segment of Dominion Energy includes, effective September 2023, its corporate, service company and other functions (including unallocated debt) as well as its noncontrolling interest in Dominion Privatization and its noncontrolling interest in Wrangler (through March 2022) and Hope (through August 2022). In addition, Corporate and Other includes specific items attributable to Dominion Energy’s operating segments that are not included in profit measures evaluated by executive management in assessing the segments’ performance or in allocating resources, as well as the net impact of the operations included in the East Ohio, PSNC and Questar Gas Transactions, its noncontrolling interest in Cove Point and gas transmission and storage operations, including its noncontrolling interest in Atlantic Coast Pipeline, reported as discontinued operations which are discussed in Notes 3 and 10 as well as Notes 3 and 9 to the Consolidated Financial Statements in Dominion Energy’s Annual Report on Form 10-K for the year ended December 31, 2022.

In the six months ended June 30, 2023, Dominion Energy reported after-tax net income of $592 million in the Corporate and Other segment, including $735 million of after-tax net income for specific items with $370 million of after-tax net income attributable to its operating segments. In the six months ended June 30, 2022, Dominion Energy reported after-tax net expenses of $963 million in the Corporate and Other segment, including $944 million of after-tax net expenses for specific items with $1.7 billion of after-tax net expenses attributable to its operating segments.

The net income for specific items attributable to Dominion Energy’s operating segments in 2023 primarily related to the impact of the following items:

•A $342 million ($260 million after-tax) gain related to economic hedging activities, attributable to Contracted Energy;

•A $281 million ($208 million after-tax) gain related to investments in nuclear decommissioning trust funds, attributable to:

•Contracted Energy ($178 million after-tax); and

•Dominion Energy Virginia ($30 million after-tax);

•A $122 million ($91 million after-tax) charge for amortization of a regulatory asset established in connection with the settlement of the 2021 Triennial Review, attributable to Dominion Energy Virginia;

•A $36 million ($27 million after-tax) charge for the write-off of certain previously deferred amounts related to the cessation of certain riders effective July 2023, attributable to Dominion Energy Virginia; and

•A $31 million ($23 million after-tax) benefit related to real estate transactions, including gains on the transfer of property to satisfy litigation associated with the NND Project, attributable to Dominion Energy South Carolina.

The net expenses for specific items attributable to Dominion Energy’s operating segments in 2022 primarily related to the impact of the following items:

•A $649 million ($513 million after-tax) loss associated with the sale of Kewaunee, attributable to Contracted Energy;

•A $579 million ($450 million after-tax) loss related to investments in nuclear decommissioning trust funds, attributable to:

•Contracted Energy ($392 million after-tax); and

•Dominion Energy Virginia ($58 million after-tax);

•A $299 million ($227 million after-tax) loss related to economic hedging activities, attributable to Contracted Energy;

•A $191 million ($142 million after-tax) charge in connection with a comprehensive settlement agreement for Virginia fuel expenses, attributable to Dominion Energy Virginia;

•A $180 million ($134 million after-tax) charge for RGGI compliance costs deemed recovered through base rates, attributable to Dominion Energy Virginia;

•A $122 million ($91 million after-tax) charge for amortization of a regulatory asset established in connection with the settlement of the 2021 Triennial Review, attributable to Dominion Energy Virginia;

•A $94 million ($70 million after-tax) charge associated with storm damage and service restoration in Virginia Power’s service territory, attributable to Dominion Energy Virginia; and

•A $42 million ($31 million after-tax) charge for dismantling costs associated with certain retired electric generation facilities, attributable to Dominion Energy Virginia.

The following table presents segment information pertaining to Dominion Energy’s operations:

	Dominion Energy Virginia			Dominion Energy South Carolina		Contracted Energy			Corporate and Other			Adjustments & Eliminations			Consolidated Total
(millions)
Three Months Ended June 30, 2023
Total revenue from external       customers	$	2,252		$	771	$	126		$	17		$	—		$	3,166
Intersegment revenue		(1	)		2		5			229			(235	)		—
Total operating revenue		2,251			773		131			246			(235	)		3,166
Net income from discontinued       operations		—			—		—			168			—			168
Net income (loss) attributable to       Dominion Energy		392			68		(44	)		183			—			599
Three Months Ended June 30, 2022
Total revenue from external       customers	$	2,173		$	812	$	161		$	(87	)	$	—		$	3,059
Intersegment revenue		(3	)		3		6			204			(210	)		—
Total operating revenue		2,170			815		167			117			(210	)		3,059
Net income from discontinued       operations		—			—		—			212			—			212
Net income (loss) attributable to       Dominion Energy		442			124		(27	)		(992	)		—			(453	)
Six Months Ended June 30, 2023
Total revenue from external      customers	$	4,636		$	1,615	$	434		$	364		$	—		$	7,049
Intersegment revenue		(1	)		3		8			460			(470	)		—
Total operating revenue		4,635			1,618		442			824			(470	)		7,049
Net income from discontinued      operations		—			—		—			449			—			449
Net income attributable to      Dominion Energy		776			159		69			592			—			1,596
Six Months Ended June 30, 2022
Total revenue from external      customers	$	4,342		$	1,610	$	405		$	(185	)	$	—		$	6,172
Intersegment revenue		(7	)		4		10			419			(426	)		—
Total operating revenue		4,335			1,614		415			234			(426	)		6,172
Net income from discontinued      operations		—			—		—			623			—			623
Net income (loss) attributable to      Dominion Energy		958			233		30			(963	)		—			258

Intersegment sales and transfers for Dominion Energy are based on contractual arrangements and may result in intersegment profit or loss that is eliminated in consolidation, including amounts related to entities presented within discontinued operations.

Virginia Power

The Corporate and Other Segment of Virginia Power primarily includes specific items attributable to its operating segment that are not included in profit measures evaluated by executive management in assessing the segment’s performance or in allocating resources.

In the six months ended June 30, 2023, Virginia Power reported after-tax net expenses of $91 million in the Corporate and Other segment, including $87 million of after-tax net expenses for specific items all of which was attributable to its operating segment. In the six months ended June 30, 2022, Virginia Power reported after-tax net expenses of $554 million in the Corporate and Other segment, including $547 million of after-tax net expenses for specific items with $527 million of after-tax net expenses attributable to its operating segment.

The net expenses for specific items attributable to Virginia Power’s operating segment in 2023 primarily related to the impact of the following item:

•A $122 million ($91 million after-tax) charge for amortization of a regulatory asset established in connection with the settlement of the 2021 Triennial Review;

•A $41 million ($30 million after-tax) gain related to investments in nuclear decommissioning trust funds; and

•A $36 million ($27 million after-tax) charge for the write-off of certain previously deferred amounts related to the cessation of certain riders effective July 2023.

The net expenses for specific items attributable to Virginia Power’s operating segment in 2022 primarily related to the impact of the following items:

•A $191 million ($142 million after-tax) charge in connection with a comprehensive settlement agreement for Virginia fuel expenses;

•A $180 million ($134 million after-tax) charge for RGGI compliance costs deemed recovered through base rates;

•A $122 million ($91 million after-tax) charge for amortization of a regulatory asset established in connection with the settlement of the 2021 Triennial Review;

•A $94 million ($70 million after-tax) charge associated with storm damage and service restoration in its service territory;

•A $78 million ($58 million after-tax) loss related to investments in nuclear decommissioning trust funds; and

•A $42 million ($31 million after-tax) charge for dismantling costs associated with certain retired electric generation facilities.

The following table presents segment information pertaining to Virginia Power’s operations:

	Dominion Energy Virginia		Corporate and Other			Consolidated Total
(millions)
Three Months Ended June 30, 2023
Operating revenue	$	2,251	$	—		$	2,251
Net income (loss)		392		(60	)		332
Three Months Ended June 30, 2022
Operating revenue	$	2,170	$	5		$	2,175
Net income (loss)		442		(395	)		47
Six Months Ended June 30, 2023
Operating revenue	$	4,635	$	—		$	4,635
Net income (loss)		776		(91	)		685
Six Months Ended June 30, 2022
Operating revenue	$	4,335	$	7		$	4,342
Net income (loss)		958		(554	)		404

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Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Basis of Accounting

As permitted by the rules and regulations of the SEC, the Companies’ accompanying unaudited Consolidated Financial Statements contain certain condensed financial information and exclude certain footnote disclosures normally included in annual audited consolidated financial statements prepared in accordance with GAAP. These unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022.

In the Companies’ opinion, the accompanying unaudited Consolidated Financial Statements contain all adjustments necessary to present fairly their financial position at June 30, 2023, their results of operations and changes in equity for the three and six months ended June 30, 2023 and 2022 and their cash flows for the six months ended June 30, 2023 and 2022. Such adjustments are normal and recurring in nature unless otherwise noted.

Estimates

The Companies make certain estimates and assumptions in preparing their Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates.

Consolidation

The Companies’ accompanying unaudited Consolidated Financial Statements include, after eliminating intercompany transactions and balances, their accounts, those of their respective majority-owned subsidiaries and non-wholly-owned entities in which they have a controlling financial interest. For certain partnership structures, income is allocated based on the liquidation value of the underlying contractual arrangements.

Reclassifications

Certain amounts in the Companies’ 2022 Consolidated Financial Statements and Notes have been reclassified to conform to the 2023 presentation for comparative purposes; however, such reclassifications did not affect the Companies’ net income, total assets, liabilities, equity or cash flows.

Amounts disclosed for Dominion Energy are inclusive of Virginia Power, where applicable. There have been no significant changes from Note 2 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022, with the exception of the items described below.

Cash, Restricted Cash and Equivalents

Cash, Restricted Cash and Equivalents

Restricted Cash and Equivalents

The following table provides a reconciliation of the total cash, restricted cash and equivalents reported within the Companies’ Consolidated Balance Sheets to the corresponding amounts reported within the Companies’ Consolidated Statements of Cash Flows for the six months ended June 30, 2023 and 2022:

	Cash, Restricted Cash and Equivalents at End of Period				Cash, Restricted Cash and Equivalents at Beginning of Period
	June 30, 2023		June 30, 2022		December 31, 2022		December 31, 2021
(millions)
Dominion Energy
Cash and cash equivalents(1)	$	137	$	273	$	153	$	283
Restricted cash and equivalents(2)		178		134		188		125
Cash, restricted cash and equivalents shown in the    Consolidated Statements of Cash Flows	$	315	$	407	$	341	$	408
Virginia Power
Cash and cash equivalents	$	19	$	56	$	22	$	26
Restricted cash and equivalents(3)		—		2		2		—
Cash, restricted cash and equivalents shown in the    Consolidated Statements of Cash Flows	$	19	$	58	$	24	$	26

(1)At June 30, 2023, June 30, 2022, December 31, 2022 and December 31, 2021, Dominion Energy had $29 million, $24 million, $34 million and $34 million, respectively, of cash and cash equivalents included in current assets held for sale.

(2)At June 30, 2023, June 30, 2022, December 31, 2022 and December 31, 2021, Dominion Energy had $3 million, $1 million, $2 million and less than $1 million, respectively, of restricted cash and equivalents included in current assets held for sale.

(3)Restricted cash and equivalents balances are presented within other current assets in Virginia Power's Consolidated Balance Sheets.

Supplemental Cash Flow Information

The following table provides supplemental disclosure of cash flow information related to Dominion Energy:

Six Months Ended June 30,	2023		2022
(millions)
Significant noncash investing and financing activities:(1)
Accrued capital expenditures	$	713	$	512
Leases(2)		279		57

(1)See Note 10 for noncash investing activities related to the acquisition of a noncontrolling interest in Dominion Privatization, Note 16 for noncash financing activities related to the remarketing of Series A Preferred Stock and the issuance of common stock associated with the settlement of litigation and Note 17 for noncash financing activities related to the transfer of property associated with the settlement of litigation.

(2)Includes $40 million and $19 million of financing leases at June 30, 2023 and 2022, respectively, and $239 million and $38 million of operating leases at June 30, 2023 and 2022, respectively.

The following table provides supplemental disclosure of cash flow information related to Virginia Power:

Six Months Ended June 30,	2023		2022
(millions)
Significant noncash investing and financing activities:
Accrued capital expenditures	$	550	$	240
Leases(1)		242		47

(1)Includes $36 million and $14 million of financing leases at June 30, 2023 and 2022, respectively, and $206 million and $33 million of operating leases at June 30, 2023 and 2022, respectively.

Fair Value Measurements

The Companies enter into certain physical and financial forwards, futures and options, which are considered Level 3 as they have one or more inputs that are not observable and are significant to the valuation. The discounted cash flow method is used to value Level 3 physical and financial forwards and futures contracts. An option model is used to value Level 3 physical options. The discounted cash flow model for forwards and futures calculates mark-to-market valuations based on forward market prices, original transaction prices, volumes, risk-free rate of return and credit spreads. The option model calculates mark-to-market valuations using variations of the Black-Scholes option model. The inputs into the models are the forward market prices, implied price volatilities, risk-free rate of return, the option expiration dates, the option strike prices, the original sales prices and volumes. For Level 3 fair value measurements, certain forward market prices and implied price volatilities are considered unobservable.

Regulatory Matters Involving Potential Loss Contingencies

Regulatory Matters Involving Potential Loss Contingencies

As a result of issues generated in the ordinary course of business, the Companies are involved in various regulatory matters. Certain regulatory matters may ultimately result in a loss; however, as such matters are in an initial procedural phase, involve uncertainty as to the outcome of pending reviews or orders, and/or involve significant factual issues that need to be resolved, it is not possible for the Companies to estimate a range of possible loss. For regulatory matters that the Companies cannot estimate, a statement to this effect is made in the description of the matter. Other matters may have progressed sufficiently through the regulatory process such that the Companies are able to estimate a range of possible loss. For regulatory matters that the Companies are able to reasonably estimate a range of possible losses, an estimated range of possible loss is provided, in excess of the accrued liability (if any) for such matters. Any estimated range is based on currently available information, involves elements of judgment and significant uncertainties and may not represent the Companies’ maximum possible loss exposure. The circumstances of such regulatory matters will change from time to time and actual results may vary significantly from the current estimate. For current matters not specifically reported below, management does not anticipate that the outcome from such matters would have a material effect on the Companies’ financial position, liquidity or results of operations.

Commitments and Contingencies

As a result of issues generated in the ordinary course of business, the Companies are involved in legal proceedings before various courts and are periodically subject to governmental examinations (including by regulatory authorities), inquiries and investigations. Certain legal proceedings and governmental examinations involve demands for unspecified amounts of damages, are in an initial procedural phase, involve uncertainty as to the outcome of pending appeals or motions, or involve significant factual issues that need to be resolved, such that it is not possible for the Companies to estimate a range of possible loss. For such matters that the Companies cannot estimate, a statement to this effect is made in the description of the matter. Other matters may have progressed sufficiently through the litigation or investigative processes such that the Companies are able to estimate a range of possible loss. For legal proceedings and governmental examinations that the Companies are able to reasonably estimate a range of possible losses, an estimated range of possible loss is provided, in excess of the accrued liability (if any) for such matters. The Companies maintain various insurance programs, including general liability insurance coverage which provides coverage for personal injury or wrongful death cases. Any accrued liability is recorded on a gross basis with a receivable also recorded for any probable insurance recoveries. Estimated ranges of loss are inclusive of legal fees and net of any anticipated insurance recoveries. Any estimated range is based on

currently available information and involves elements of judgment and significant uncertainties. Any estimated range of possible loss may not represent the Companies’ maximum possible loss exposure. The circumstances of such legal proceedings and governmental examinations will change from time to time and actual results may vary significantly from the current estimate. For current proceedings not specifically reported below, management does not anticipate that the liabilities, if any, arising from such proceedings would have a material effect on the Companies’ financial position, liquidity or results of operations.

Guarantees, Surety Bonds and Letters of Credit

Dominion Energy also enters into guarantee arrangements on behalf of its consolidated subsidiaries, primarily to facilitate their commercial transactions with third parties. If any of these subsidiaries fail to perform or pay under the contracts and the counterparties seek performance or payment, Dominion Energy would be obligated to satisfy such obligation. To the extent that a liability subject to a guarantee has been incurred by one of Dominion Energy’s consolidated subsidiaries, that liability is included in the Consolidated Financial Statements. Dominion Energy is not required to recognize liabilities for guarantees issued on behalf of its subsidiaries unless it becomes probable that it will have to perform under the guarantees. Terms of the guarantees typically end once obligations have been paid. Dominion Energy currently believes it is unlikely that it would be required to perform or otherwise incur any losses associated with guarantees of its subsidiaries’ obligations.

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Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Reconciliation of Total Cash, Restricted Cash and Equivalents

The following table provides a reconciliation of the total cash, restricted cash and equivalents reported within the Companies’ Consolidated Balance Sheets to the corresponding amounts reported within the Companies’ Consolidated Statements of Cash Flows for the six months ended June 30, 2023 and 2022:

	Cash, Restricted Cash and Equivalents at End of Period				Cash, Restricted Cash and Equivalents at Beginning of Period
	June 30, 2023		June 30, 2022		December 31, 2022		December 31, 2021
(millions)
Dominion Energy
Cash and cash equivalents(1)	$	137	$	273	$	153	$	283
Restricted cash and equivalents(2)		178		134		188		125
Cash, restricted cash and equivalents shown in the    Consolidated Statements of Cash Flows	$	315	$	407	$	341	$	408
Virginia Power
Cash and cash equivalents	$	19	$	56	$	22	$	26
Restricted cash and equivalents(3)		—		2		2		—
Cash, restricted cash and equivalents shown in the    Consolidated Statements of Cash Flows	$	19	$	58	$	24	$	26

(1)At June 30, 2023, June 30, 2022, December 31, 2022 and December 31, 2021, Dominion Energy had $29 million, $24 million, $34 million and $34 million, respectively, of cash and cash equivalents included in current assets held for sale.

(2)At June 30, 2023, June 30, 2022, December 31, 2022 and December 31, 2021, Dominion Energy had $3 million, $1 million, $2 million and less than $1 million, respectively, of restricted cash and equivalents included in current assets held for sale.

(3)Restricted cash and equivalents balances are presented within other current assets in Virginia Power's Consolidated Balance Sheets.

Schedule of Supplemental Cash Flow Information

The following table provides supplemental disclosure of cash flow information related to Dominion Energy:

Six Months Ended June 30,	2023		2022
(millions)
Significant noncash investing and financing activities:(1)
Accrued capital expenditures	$	713	$	512
Leases(2)		279		57

(1)See Note 10 for noncash investing activities related to the acquisition of a noncontrolling interest in Dominion Privatization, Note 16 for noncash financing activities related to the remarketing of Series A Preferred Stock and the issuance of common stock associated with the settlement of litigation and Note 17 for noncash financing activities related to the transfer of property associated with the settlement of litigation.

(2)Includes $40 million and $19 million of financing leases at June 30, 2023 and 2022, respectively, and $239 million and $38 million of operating leases at June 30, 2023 and 2022, respectively.

The following table provides supplemental disclosure of cash flow information related to Virginia Power:

Six Months Ended June 30,	2023		2022
(millions)
Significant noncash investing and financing activities:
Accrued capital expenditures	$	550	$	240
Leases(1)		242		47

(1)Includes $36 million and $14 million of financing leases at June 30, 2023 and 2022, respectively, and $206 million and $33 million of operating leases at June 30, 2023 and 2022, respectively.

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Acquisitions and Dispositions (Tables)

6 Months Ended

Jun. 30, 2023

Business Combinations Discontinued Operations And Disposal Groups [Abstract]

Results of Operations Reported within Discontinued Operations

The following table represents selected information for each disposal group regarding the results of operations reported within discontinued operations in Dominion Energy's Consolidated Statements of Income:

	Three Months Ended June 30, 2023										Six Months Ended June 30, 2023
		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other			East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other
(millions)
Operating revenue		$	235	$	120	$	271	$	2		$	547	$	446	$	1,001	$	3
Operating expense			153		98		233		19			369		306		812		22
Other income (expense)			7		3		2		—			15		5		3		—
Interest and related charges			17		12		17		1			32		25		33		1
Income (loss) before income    taxes			72		13		23		(18	)		161		120		159		(20	)
Income tax expense (benefit)			6		2		3		(4	)		19		26		32		(5	)
Net income (loss) attributable    to Dominion Energy(1)		$	66	$	11	$	20	$	(14	)	$	142	$	94	$	127	$	(15	)

(1)Excludes $5 million and $(4) million of income tax expense (benefit) attributable to consolidated state and interim period tax allocation adjustments for the three and six months ended June 30, 2023, respectively.

	Three Months Ended June 30, 2022									Six Months Ended June 30, 2022
		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other
(millions)
Operating revenue		$	222	$	111	$	213	$	1	$	532	$	446	$	732	$	3
Operating expense			145		88		170		1		363		312		558		3
Other income (expense)			7		1		—		—		14		3		—		—
Interest and related charges			6		10		10		—		9		19		20		—
Income (loss) before income    taxes			78		14		33		—		174		118		154		—
Income tax expense    (benefit)			10		2		5		—		24		25		31		—
Net income (loss) attributable    to Dominion Energy(1)		$	68	$	12	$	28	$	—	$	150	$	93	$	123	$	—

(1)Excludes $(9) million and $(13) million of income tax expense (benefit) attributable to consolidated state and interim period tax allocation adjustments for the three and six months ended June 30, 2022, respectively.

Schedule of Major Classes of Assets and Liabilities Relating to the Disposal Groups Reported As Held For Sale

The carrying amount of major classes of assets and liabilities relating to the disposal groups, which are reported as held for sale in Dominion Energy's Consolidated Balance Sheets were as follows:

	At June 30, 2023								At December 31, 2022
	East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other
(millions)
Current assets(1)	$	403	$	230	$	728	$	30	$	544	$	381	$	803	$	1
Property, plant and equipment, net		5,174		2,659		4,094		—		5,012		2,591		3,984		47
Other deferred charges and other    assets, including goodwill(2) and    intangible assets		2,628		818		1,004		—		2,629		822		1,043		—
Current liabilities		359		120		223		9		634		151		612		1
Long-term debt		2,286		798		1,245				2,287		798		1,245		—
Other deferred credits and liabilities		1,423		695		1,097		—		1,435		689		1,087		9

(1)Includes cash and cash equivalents of $3 million and $6 million within the East Ohio Transaction, less than $1 million and less than $1 million within the PSNC Transaction and $26 million and $28 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively. Also includes regulatory assets of $93 million and $90 million within the East Ohio Transaction, $108 million and $95 million within the PSNC Transaction and $450 million and $273 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively.

(2)Includes goodwill of $1.5 billion, $673 million and $983 million at both June 30, 2023 and December 31, 2022 within the East Ohio, PSNC and Questar Gas Transactions, respectively. Also includes regulatory assets of $739 million and $751 million within the East Ohio Transaction, $89 million and $93 million within the PSNC Transaction and $(31) million and $(22) million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively.

(3)Includes regulatory liabilities of $57 million and $43 million within the East Ohio Transaction, $39 million and $11 million within the PSNC Transaction and $50 million and $144 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively.

(4)Includes regulatory liabilities of $730 million and $749 million within the East Ohio Transaction, $439 million and $436 million within the PSNC Transaction and $509 million and $506 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively.

Capital Expenditures and Significant Noncash Items Relating to the Disposal Groups

Capital expenditures and significant noncash items relating to the disposal groups included the following:

	Six Months Ended June 30, 2023									Six Months Ended June 30, 2022
		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other		East Ohio Transaction		PSNC Transaction		Questar Gas Transaction		Other
(millions)
Capital expenditures		$	215	$	99	$	177	$	—	$	192	$	68	$	210	$	—
Significant noncash items
Depreciation, depletion    and amortization			71		44		86		2		65		43		81		2
Accrued capital expenditures			48		19		32		—		28		16		35		—

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Operating Revenue (Tables)

6 Months Ended

Jun. 30, 2023

Regulated And Unregulated Operating Revenue [Abstract]

Schedule of Operating Revenue

The Companies’ operating revenue consists of the following:

	Dominion Energy										Virginia Power
	Quarter-to-Date					Year-to-Date					Quarter-to-Date					Year-to-Date
Period Ended June 30,	2023		2022			2023		2022			2023		2022			2023		2022
(millions)
Regulated electric sales:
Residential	$	1,124	$	1,117		$	2,410	$	2,404		$	832	$	816		$	1,842	$	1,831
Commercial		1,147		1,089			2,217		1,987			917		874			1,783		1,591
Industrial		211		220			431		417			99		110			215		213
Government and other retail		232		297			476		569			213		281			442		539
Wholesale		36		68			80		115			22		31			51		63
Nonregulated electric sales		125		236			382		603			22		31			33		45
Regulated gas sales:
Residential		43		52			179		215
Commercial		28		40			81		105
Other		16		43			39		77
Regulated gas transportation and storage		5		14			9		24
Other regulated revenues		65		84			143		140			62		80			136		131
Other nonregulated revenues(1)(2)		48		43			85		75			22		16			33		22
Total operating revenue from contracts with customers		3,080		3,303			6,532		6,731			2,189		2,239			4,535		4,435
Other revenues(1)(3)		86		(244	)		517		(559	)		62		(64	)		100		(93	)
Total operating revenue	$	3,166	$	3,059		$	7,049	$	6,172		$	2,251	$	2,175		$	4,635	$	4,342

(1)See Note 19 for amounts attributable to affiliates.

(2)Sales of renewable energy credits were $24 million and $7 million for the three months ended June 30, 2023 and 2022, respectively, and $29 million and $11 million for the six months ended June 30, 2023 and 2022, respectively, at Dominion Energy and $19 million and less than $1 million for the three months ended June 30, 2023 and 2022, respectively, and $22 million and less than $1 million for the six months ended June 30, 2023 and 2022, respectively, at Virginia Power.

(3)Includes alternative revenue of $50 million and $19 million for the three months ended June 30, 2023 and 2022, respectively, and $77 million and $27 million for the six months ended June 30, 2023 and 2022, respectively, at both Dominion Energy and Virginia Power.

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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Effective Income Tax

For continuing operations, including noncontrolling interests, the statutory U.S. federal income tax rate reconciles to the Companies’ effective income tax rate as follows:

	Dominion Energy						Virginia Power
Six Months Ended June 30,	2023			2022			2023			2022
U.S. statutory rate		21.0	%		21.0	%		21.0	%		21.0	%
Increases (reductions) resulting from:
Recognition of taxes - sale of    subsidiary stock		—			(24.1	)
State taxes, net of federal benefit		3.8			(2.8	)		4.6			4.4
Investment tax credits		(3.1	)		4.5			(0.3	)		(6.9	)
Production tax credits		(0.5	)		0.5			(0.8	)		(1.0	)
Reversal of excess deferred income    taxes		(2.0	)		4.2			(2.3	)		(3.9	)
Changes in state deferred taxes associated    with assets held for sale		—			(1.4	)
AFUDC - equity		(0.1	)		0.2			(0.1	)		(1.0	)
Other, net		(1.2	)		0.3			(0.5	)		0.6
Effective tax rate		17.9	%		2.4	%		21.6	%		13.2	%

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Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Share Computation

The following table presents the calculation of Dominion Energy’s basic and diluted EPS:

	Quarter-to-Date						Year-to-Date
Period Ended June 30,	2023			2022			2023			2022
(millions, except EPS)
Net income (loss) attributable to Dominion Energy from    continuing operations	$	431		$	(665	)	$	1,147		$	(365	)
Preferred stock dividends (see Note 16)		(20	)		(25	)		(40	)		(52	)
Net income (loss) attributable to Dominion Energy from    continuing operations – Basic		411			(690	)		1,107			(417	)
Dilutive effect of 2019 Equity Units(1)(2)		—			—			—			—
Net income (loss) attributable to Dominion Energy from    continuing operations - Diluted	$	411		$	(690	)	$	1,107		$	(417	)
Net income (loss) attributable to Dominion Energy from    discontinued operations - Basic & Diluted	$	168		$	212		$	449		$	623
Average shares of common stock outstanding – Basic		836.0			818.4			835.6			814.5
Net effect of dilutive securities(1)(3)		0.2			—			0.3			—
Average shares of common stock outstanding – Diluted		836.2			818.4			835.9			814.5
EPS from continuing operations – Basic	$	0.49		$	(0.84	)	$	1.32		$	(0.51	)
EPS from discontinued operations – Basic		0.20			0.26			0.54			0.76
EPS attributable to Dominion Energy – Basic	$	0.69		$	(0.58	)	$	1.86		$	0.25
EPS from continuing operations – Diluted	$	0.49		$	(0.84	)	$	1.32		$	(0.51	)
EPS from discontinued operations – Diluted		0.20			0.26			0.54			0.76
EPS attributable to Dominion Energy – Diluted	$	0.69		$	(0.58	)	$	1.86		$	0.25

(1)As a result of a net loss for the three and six months ended June 30, 2022, any adjustments to earnings or shares would be considered antidilutive and are therefore excluded from the calculation of diluted EPS.

(2)Effective January 2022, diluted net income was no longer reduced by the Series A Preferred Stock dividends.

(3)Dilutive securities for the three and six months ended June 30, 2023 include stock potentially to be issued to satisfy the obligation under a settlement agreement with the SCDOR (applying the if converted method). See Note 17 for additional information.

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Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Changes in AOCI Net of Tax and Reclassifications out of AOCI by Component

The following table presents Dominion Energy’s changes in AOCI (net of tax) and reclassifications out of AOCI by component:

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Pension and other postretirement benefit costs(4)			Equity Method Investees(5)			Total
(millions)
Three Months Ended June 30, 2023
Beginning balance	$	(250	)	$	(26	)	$	(1,287	)	$	(2	)	$	(1,565	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		6			(1	)		—			—			5
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		10			—			—			—			10
Other income (expense)		—			(3	)		(16	)		—			(19	)
Total		10			(3	)		(16	)		—			(9	)
Income tax expense (benefit)		(2	)		1			4			—			3
Total, net of tax		8			(2	)		(12	)		—			(6	)
Net current period other comprehensive     income (loss)		14			(3	)		(12	)		—			(1	)
Ending balance	$	(236	)	$	(29	)	$	(1,299	)	$	(2	)	$	(1,566	)
Three Months Ended June 30, 2022
Beginning balance	$	(323	)	$	(22	)	$	(1,088	)	$	(3	)	$	(1,436	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		29			(27	)		2			—			4
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		14			—			—			—			14
Other income (expense)		—			12			22			—			34
Total		14			12			22			—			48
Income tax expense (benefit)		(3	)		(3	)		(6	)		—			(12	)
Total, net of tax		11			9			16			—			36
Net current period other comprehensive     income (loss)		40			(18	)		18			—			40
Ending balance	$	(283	)	$	(40	)	$	(1,070	)	$	(3	)	$	(1,396	)

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $79 million, $83 million, $94 million and $107 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

(3)Net of $9 million, $6 million, $14 million and $8 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

(4)Net of $453 million, $449 million, $376 million and $380 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

(5)Net of $— million, $— million, $1 million and $1 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Pension and other postretirement benefit costs(4)			Equity Method Investees(5)			Total
(millions)
Six Months Ended June 30, 2023
Beginning balance	$	(249	)	$	(44	)	$	(1,276	)	$	(3	)	$	(1,572	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		(3	)		16			—			1			14
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		21			—			—			—			21
Other income (expense)		—			(1	)		(31	)		—			(32	)
Total		21			(1	)		(31	)		—			(11	)
Income tax expense (benefit)		(5	)		—			8			—			3
Total, net of tax		16			(1	)		(23	)		—			(8	)
Net current period other comprehensive     income (loss)		13			15			(23	)		1			6
Ending balance	$	(236	)	$	(29	)	$	(1,299	)	$	(2	)	$	(1,566	)
Six Months Ended June 30, 2022
Beginning balance	$	(358	)	$	37		$	(1,133	)	$	(4	)	$	(1,458	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		54			(89	)		30			1			(4	)
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		28			—			—			—			28
Other income (expense)		—			16			45			—			61
Total		28			16			45			—			89
Income tax expense (benefit)		(7	)		(4	)		(12	)		—			(23	)
Total, net of tax		21			12			33			—			66
Net current period other comprehensive     income (loss)		75			(77	)		63			1			62
Ending balance	$	(283	)	$	(40	)	$	(1,070	)	$	(3	)	$	(1,396	)

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $79 million, $83 million, $94 million and $119 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

(3)Net of $9 million, $13 million, $14 million and $(10) million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

(4)Net of $453 million, $445 million, $376 million and $396 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

(5)Net of $— million, $1 million, $1 million and $1 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

Virginia Electric and Power Company

Schedule of Changes in AOCI Net of Tax and Reclassifications out of AOCI by Component

The following table presents Virginia Power’s changes in AOCI (net of tax) and reclassifications out of AOCI by component:

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Total
(millions)
Three Months Ended June 30, 2023
Beginning balance	$	7		$	(3	)	$	4
Other comprehensive income (loss) before     reclassifications: gains (losses)		6			(1	)		5
Amounts reclassified from AOCI: (gains) losses
Total		—			—			—
Income tax expense (benefit)		—			—			—
Total, net of tax		—			—			—
Net current period other comprehensive income (loss)		6			(1	)		5
Ending balance	$	13		$	(4	)	$	9
Three Months Ended June 30, 2022
Beginning balance	$	(25	)	$	(4	)	$	(29	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		25			(3	)		22
Amounts reclassified from AOCI: (gains) losses
Total		—			—			—
Income tax expense (benefit)		—			—			—
Total, net of tax		—			—			—
Net current period other comprehensive income (loss)		25			(3	)		22
Ending balance	$	—		$	(7	)	$	(7	)

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $(4) million, $(2) million, $— million and $9 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

(3)Net of $1 million, $1 million, $3 million and $1 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Total
(millions)
Six Months Ended June 30, 2023
Beginning balance	$	16		$	(7	)	$	9
Other comprehensive income (loss) before     reclassifications: gains (losses)		(3	)		3			—
Amounts reclassified from AOCI: (gains) losses
Total		—			—			—
Income tax expense (benefit)		—			—			—
Total, net of tax		—			—			—
Net current period other comprehensive income (loss)		(3	)		3			—
Ending balance	$	13		$	(4	)	$	9
Six Months Ended June 30, 2022
Beginning balance	$	(45	)	$	4		$	(41	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		44			(10	)		34
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		1			—			1
Other income (expense)		—			(1	)		(1	)
Total		1			(1	)		—
Income tax expense (benefit)		—			—			—
Total, net of tax		1			(1	)		—
Net current period other comprehensive income (loss)		45			(11	)		34
Ending balance	$	—		$	(7	)	$	(7	)

(1)Comprised entirely of interest rate derivative hedging activities.

(2)Net of $(4) million, $(5) million, $— million and $16 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

(3)Net of $1 million, $2 million, $3 million and $(2) million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Inputs, Assets, Quantitative Information

The following table presents the Companies' quantitative information about Level 3 fair value measurements at June 30, 2023. The range and weighted average are presented in dollars for market price inputs and percentages for price volatility.

				Dominion Energy				Virginia Power
	Valuation Techniques	Unobservable Input		Fair Value (millions)		Range	Weighted Average(1)	Fair Value (millions)		Range	Weighted Average(1)
Assets
Physical and financial forwards:
Electricity	Discounted    cash flow	Market price    (per MWh)	(3)	$	141	25-138	47		—	—	—
Physical options:
Natural gas(2)	Option model	Market price    (per Dth)	(3)		15	1-8	4		15	1-8	4
		Price volatility	(4)			19%-72%	51%			19%-72%	51%
Total assets				$	156			$	15
Liabilities
Physical and financial forwards:
Natural gas(2)	Discounted    cash flow	Market price    (per Dth)	(3)	$	18	(2)-2	(1)	$	18	(2)-2	(1)
Electricity	Discounted    cash flow	Market price    (per MWh)	(3)		4	32-138	64		—	—	—
Total    liabilities				$	22			$	18

(1)Averages weighted by volume.

(2)Includes basis.

(3)Represents market prices beyond defined terms for Levels 1 and 2.

(4)Represents volatilities unrepresented in published markets.

Fair Value, Option, Qualitative Disclosures

Sensitivity of the fair value measurements to changes in the significant unobservable inputs is as follows:

Significant Unobservable Inputs	Position	Change to Input	Impact on Fair Value Measurement
Market price	Buy	Increase (decrease)	Gain (loss)
Market price	Sell	Increase (decrease)	Loss (gain)
Price volatility	Buy	Increase (decrease)	Gain (loss)
Price volatility	Sell	Increase (decrease)	Loss (gain)

Fair Value, by Balance Sheet Grouping

The following table presents the Companies' assets and liabilities that are measured at fair value on a recurring basis for each hierarchy level, including both current and noncurrent portions:

	Dominion Energy								Virginia Power
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
(millions)
June 30, 2023
Assets
Derivatives:
Commodity	$	1	$	194	$	156	$	351	$	1	$	73	$	15	$	89
Interest rate		—		904		—		904		—		135		—		135
Investments(1):
Equity securities:
U.S.		4,354		—		—		4,354		2,317		—		—		2,317
Fixed income:
Corporate debt instruments		—		539		—		539		—		323		—		323
Government securities		170		1,144		—		1,314		90		619		—		709
Cash equivalents and other		27		—		—		27		1		—		—		1
Total assets	$	4,552	$	2,781	$	156	$	7,489	$	2,409	$	1,150	$	15	$	3,574
Liabilities
Derivatives:
Commodity	$	—	$	332	$	22	$	354	$	—	$	150	$	18	$	168
Interest rate		—		381		—		381		—		11		—		11
Foreign currency exchange rate		—		59		—		59		—		59		—		59
Total liabilities	$	—	$	772	$	22	$	794	$	—	$	220	$	18	$	238
December 31, 2022
Assets
Derivatives:
Commodity	$	—	$	332	$	437	$	769	$	—	$	32	$	236	$	268
Interest rate		—		1,407		—		1,407		—		614		—		614
Investments(1):
Equity securities:
U.S.		3,810		—		—		3,810		2,028		—		—		2,028
Fixed income:
Corporate debt instruments		—		576		—		576		—		360		—		360
Government securities		161		1,059		—		1,220		90		542		—		632
Total assets	$	3,971	$	3,374	$	437	$	7,782	$	2,118	$	1,548	$	236	$	3,902
Liabilities
Derivatives:
Commodity	$	—	$	911	$	15	$	926	$	—	$	333	$	15	$	348
Interest rate		—		377		—		377		—		7		—		7
Foreign currency exchange rate		—		101		—		101		—		101		—		101
Total liabilities	$	—	$	1,389	$	15	$	1,404	$	—	$	441	$	15	$	456

(1)Includes investments held in the nuclear decommissioning trusts and rabbi trusts. Excludes $375 million and $404 million of assets at Dominion Energy, inclusive of $152 million and $161 million at Virginia Power, at June 30, 2023 and December 31, 2022, respectively, measured at fair value using NAV (or its equivalent) as a practical expedient which are not required to be categorized in the fair value hierarchy.

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents the net change in the Companies' assets and liabilities measured at fair value on a recurring basis and included in the Level 3 fair value category:

	Dominion Energy												Virginia Power
	Quarter-to-Date						Year-to-Date						Quarter-to-Date						Year-to-Date
Period Ended June 30,	2023			2022			2023			2022			2023			2022			2023			2022
(millions)
Beginning balance	$	206		$	202		$	422		$	222		$	55		$	22		$	221		$	102
Total realized and unrealized gains     (losses):
Included in earnings:
Operating revenue		2			—			2			—			—			—			—			—
Electric fuel and other energy- related purchases		(36	)		117			(87	)		165			(36	)		106			(88	)		151
Included in regulatory assets/     liabilities		(74	)		261			(290	)		241			(58	)		206			(224	)		126
Settlements		36			(117	)		71			(165	)		36			(106	)		72			(151	)
Purchases		—			17			16			17			—			17			16			17
Ending balance	$	134		$	480		$	134		$	480		$	(3	)	$	245		$	(3	)	$	245

Dominion Energy had $2 million of unrealized gains included in earnings in the Level 3 fair value category related to assets/liabilities still held at the reporting date for the three and six months ended June 30, 2023 and no unrealized gains or losses for the three and six months ended June 30, 2022. Virginia Power had no unrealized gains or losses for the three and six months ended June 30, 2023 and June 30, 2022.

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

For the Companies' financial instruments that are not recorded at fair value, the carrying amounts and estimated fair values are as follows:

	Dominion Energy				Virginia Power
	Carrying Amount		Estimated Fair Value(1)		Carrying Amount		Estimated Fair Value(1)
(millions)
June 30, 2023
Long-term debt(2)	$	41,887	$	38,876	$	16,399	$	14,909
Supplemental credit facility borrowings		450		450
Junior subordinated notes(2)		1,387		1,349
December 31, 2022
Long-term debt(2)	$	39,680	$	36,426	$	15,616	$	14,067
Supplemental credit facility borrowings		450		450
Junior subordinated notes(2)		1,387		1,340

(1)Fair value is estimated using market prices, where available, and interest rates currently available for issuance of debt with similar terms and remaining maturities. All fair value measurements are classified as Level 2. The carrying amount of debt issuances with short-term maturities and variable rates refinanced at current market rates is a reasonable estimate of their fair value.

(2)Carrying amount includes current portions presented in securities due within one year and amounts which represent the unamortized debt issuance costs and discount or premium. Additionally, the Dominion Energy carrying amount includes portions classified as held for sale and presented in current liabilities held for sale and noncurrent liabilities held for sale.

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Derivatives and Hedge Accounting Activities (Tables)

6 Months Ended

Jun. 30, 2023

Offsetting Assets

The tables below present the Companies' derivative asset and liability balances by type of financial instrument, if the gross amounts recognized in their Consolidated Balance Sheets were netted with derivative instruments and cash collateral received or paid:

	Dominion Energy Gross Amounts Not Offset in the Consolidated Balance Sheet								Virginia Power Gross Amounts Not Offset in the Consolidated Balance Sheet
	Gross Assets Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Received		Net Amounts		Gross Assets Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
June 30, 2023
Commodity contracts:
Over-the-counter	$	162	$	55	$	—	$	107	$	78	$	32	$	—	$	46
Exchange		55		55		—		—		10		10		—		—
Interest rate contracts:
Over-the-counter		904		214		—		690		135		2		—		133
Total derivatives,    subject to a    master netting    or similar    arrangement	$	1,121	$	324	$	—	$	797	$	223	$	44	$	—	$	179
December 31, 2022
Commodity contracts:
Over-the-counter	$	408	$	28	$	—	$	380	$	238	$	7	$	—	$	231
Exchange		160		159		—		1		—		—		—		—
Interest rate contracts:
Over-the-counter		1,407		248		—		1,159		614		38		—		576
Total derivatives,    subject to a    master netting    or similar    arrangement	$	1,975	$	435	$	—	$	1,540	$	852	$	45	$	—	$	807

Excludes derivative assets of $134 million and $201 million at Dominion Energy and $1 million and $30 million at Virginia Power at June 30, 2023 and December 31, 2022, respectively, which are not subject to master netting or other similar arrangements.

Offsetting Liabilities

	Dominion Energy Gross Amounts Not Offset in the Consolidated Balance Sheet								Virginia Power Gross Amounts Not Offset in the Consolidated Balance Sheet
	Gross Liabilities Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Paid		Net Amounts		Gross Liabilities Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
June 30, 2023
Commodity contracts:
Over-the-counter	$	209	$	55	$	—	$	154	$	67	$	32	$	—	$	35
Exchange		145		55		90		—		23		10		13		—
Interest rate contracts:
Over-the-counter		381		214		1		166		11		2		—		9
Foreign currency exchange rate contracts:
Over-the-counter		59		—		—		59		59		—		—		59
Total derivatives,    subject to a    master netting    or similar    arrangement	$	794	$	324	$	91	$	379	$	160	$	44	$	13	$	103
December 31, 2022
Commodity contracts:
Over-the-counter	$	443	$	34	$	71	$	338	$	146	$	13	$	71	$	62
Exchange		483		159		324		—		176		—		176		—
Interest rate contracts:
Over-the-counter		377		210		1		166		7		—		—		7
Foreign currency exchange rate contracts:
Over-the-counter		101		32		—		69		101		32		—		69
Total derivatives,    subject to a    master netting    or similar    arrangement	$	1,404	$	435	$	396	$	573	$	430	$	45	$	247	$	138

(1)Excludes derivative liabilities of $78 million and $26 million at Virginia Power at June 30, 2023 and December 31, 2022, respectively, which are not subject to master netting or similar arrangements. Dominion Energy did not have any derivative liabilities at June 30, 2023 and December 31, 2022 which were not subject to master netting or similar arrangements.

Schedule of Volume of Derivative Activity

The following table presents the volume of the Companies' derivative activity at June 30, 2023. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of its long and short positions.

	Dominion Energy				Virginia Power
	Current		Noncurrent		Current		Noncurrent
Natural Gas (bcf):
Fixed price(1)		43		14		40		14
Basis(2)		157		375		138		372
Electricity (MWh in millions):
Fixed price		17		44		8		13
Oil (Gal in millions)		6		—		6		—
Interest rate(3) (in millions)	$	524	$	11,758	$	125	$	2,750
Foreign currency exchange rate(3) (in millions)
Danish Krone	1,004 kr.		3,468 kr.		1,004 kr.		3,468 kr.
Euro	€453		€2,131		€453		€2,131

(1)Includes options at Dominion Energy.

(2)Includes options.

(3)Maturity is determined based on final settlement period.

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table presents selected information related to gains and losses on cash flow hedges included in AOCI in the Companies' Consolidated Balance Sheets at June 30, 2023:

	Dominion Energy							Virginia Power
	AOCI After-Tax			Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax			Maximum Term	AOCI After-Tax		Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax		Maximum Term
(millions)
Interest rate	$	(236	)	$	(33	)	390 months	$	13	$	—	390 months
Total	$	(236	)	$	(33	)		$	13	$	—

Fair Value of Derivatives

Fair Value and Gains and Losses on Derivative Instruments

The following table presents the fair values of the Companies' derivatives and where they are presented in their Consolidated Balance Sheets:

	Dominion Energy						Virginia Power
	Fair Value – Derivatives under Hedge Accounting		Fair Value – Derivatives not under Hedge Accounting		Total Fair Value		Fair Value – Derivatives under Hedge Accounting		Fair Value – Derivatives not under Hedge Accounting		Total Fair Value
(millions)
At June 30, 2023
ASSETS
Current Assets
Commodity	$	—	$	129	$	129	$	—	$	43	$	43
Interest rate		18		113		131		18		—		18
Total current derivative assets(1)		18		242		260		18		43		61
Noncurrent Assets
Commodity		—		222		222		—		46		46
Interest rate		117		656		773		117		—		117
Total noncurrent derivative assets(2)		117		878		995		117		46		163
Total derivative assets	$	135	$	1,120	$	1,255	$	135	$	89	$	224
LIABILITIES
Current Liabilities
Commodity	$	—	$	240	$	240	$	—	$	117	$	117
Interest rate		—		83		83		—		—		—
Foreign currency exchange rate		—		9		9		—		9		9
Total current derivative liabilities(3)		—		332		332		—		126		126
Noncurrent Liabilities
Commodity		—		114		114		—		51		51
Interest rate		11		287		298		11		—		11
Foreign currency exchange rate		—		50		50		—		50		50
Total noncurrent derivative liabilities(4)		11		451		462		11		101		112
Total derivative liabilities	$	11	$	783	$	794	$	11	$	227	$	238
At December 31, 2022
ASSETS
Current Assets
Commodity	$	—	$	532	$	532	$	—	$	264	$	264
Interest rate		501		104		605		501		—		501
Total current derivative assets(1)		501		636		1,137		501		264		765
Noncurrent Assets
Commodity		—		237		237		—		4		4
Interest rate		113		689		802		113		—		113
Total noncurrent derivative assets(2)		113		926		1,039		113		4		117
Total derivative assets	$	614	$	1,562	$	2,176	$	614	$	268	$	882
LIABILITIES
Current Liabilities
Commodity	$	—	$	700	$	700	$	—	$	290	$	290
Interest rate		—		70		70		—		—		—
Foreign currency exchange rate		—		8		8		—		8		8
Total current derivative liabilities(3)		—		778		778		—		298		298
Noncurrent Liabilities
Commodity		—		226		226		—		58		58
Interest rate		7		300		307		7		—		7
Foreign currency exchange rate		—		93		93		—		93		93
Total noncurrent derivative liabilities(4)		7		619		626		7		151		158
Total derivative liabilities	$	7	$	1,397	$	1,404	$	7	$	449	$	456

(1)Includes $2 million and $118 million recorded in current assets held for sale in Dominion Energy's Consolidated Balance Sheets at June 30, 2023 and December 31, 2022, respectively.

(2)Noncurrent derivative assets are presented in other deferred charges and other assets in the Companies’ Consolidated Balance Sheets, with the exception of $1 million recorded in noncurrent assets held for sale in Dominion Energy's Consolidated Balance Sheets at December 31, 2022.

(3)Includes $13 million and $6 million recorded in current liabilities held for sale in Dominion Energy's Consolidated Balance Sheets at June 30, 2023 and December 31, 2022, respectively.

(4)Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in the Companies' Consolidated Balance Sheets, with the exception of $1 million recorded in noncurrent liabilities held for sale in Dominion Energy's Consolidated Balance Sheets at both June 30, 2023 and December 31, 2022.

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following tables present the gains and losses on the Companies' derivatives, as well as where the associated activity is presented in their Consolidated Balance Sheets and Statements of Income.

	Dominion Energy									Virginia Power
Derivatives in    cash flow    hedging relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)			Amount of Gain (Loss) Recognized in AOCI on Derivatives(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)
(millions)
Three Months Ended June 30, 2023
Derivative type and location of gains (losses):
Interest rate(3)	$	8		$	(10	)	$	88		$	8		$	—		$	88
Total	$	8		$	(10	)	$	88		$	8		$	—		$	88
Three Months Ended June 30, 2022
Derivative type and location of gains (losses):
Interest rate(3)	$	39			(14	)	$	354		$	33		$	—		$	353
Total	$	39		$	(14	)	$	354		$	33		$	—		$	353
Six Months Ended June 30, 2023
Derivative type and location of gains (losses):
Interest rate(3)	$	(4	)	$	(21	)	$	(32	)	$	(4	)	$	—		$	(32	)
Total	$	(4	)	$	(21	)	$	(32	)	$	(4	)	$	—		$	(32	)
Six Months Ended June 30, 2022
Derivative type and location of gains (losses):
Interest rate(3)	$	72		$	(28	)	$	633		$	59		$	(1	)	$	632
Total	$	72		$	(28	)	$	633		$	59		$	(1	)	$	632

(1)Amounts deferred into AOCI have no associated effect in the Companies' Consolidated Statements of Income.

(2)Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in the Companies' Consolidated Statements of Income.

(3)Amounts recorded in the Companies' Consolidated Statement of Income are classified in interest and related charges.

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance

	Amount of Gain (Loss) Recognized in Income on Derivatives(1)(2)
Derivatives not designated as hedging instruments	Dominion Energy												Virginia Power
	Quarter-to-Date						Year-to-Date						Quarter-to-Date						Year-to-Date
Period Ended June 30,	2023			2022			2023			2022			2023			2022			2023			2022
(millions)
Derivative type and location of gains (losses):
Commodity:
Operating revenue	$	26		$	(272	)	$	421		$	(602	)	$	10		$	(88	)	$	19		$	(129	)
Purchased gas		—			3			—			4
Electric fuel and other energy-related     purchases		(73	)		137			(118	)		196			(73	)		125			(119	)		182
Operations and maintenance		2			—			2			—			2			—			2			—
Discontinued operations		—			—			94			1
Interest rate:
Interest and related charges		29			273			(47	)		368
Discontinued operations		50			67			24			168
Total	$	34		$	208		$	376		$	135		$	(61	)	$	37		$	(98	)	$	53

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Investments (Tables)

6 Months Ended

Jun. 30, 2023

Equity and Debt Securities and Cash Equivalents and Cost Method Investments in Decommissioning Trust Funds

The Companies' decommissioning trust funds are summarized below:

	Dominion Energy												Virginia Power
	Amortized Cost		Total Unrealized Gains		Total Unrealized Losses				Allowance for Credit Losses		Fair Value		Amortized Cost		Total Unrealized Gains		Total Unrealized Losses				Allowance for Credit Losses		Fair Value
(millions)
June 30, 2023
Equity securities:(1)
U.S.	$	1,397	$	2,999	$	(22	)				$	4,374	$	872	$	1,562	$	(21	)				$	2,413
Fixed income securities:(2)
Corporate debt    instruments		577		1		(47	)		$	—		531		356		1		(34	)		$	—		323
Government    securities		1,332		5		(49	)			—		1,288		731		3		(25	)			—		709
Common/    collective    trust funds		71		—		—				—		71		54		—		—				—		54
Insurance contracts		236		—		—						236
Cash equivalents    and other(3)		53		—		—				—		53		9		—		—				—		9
Total	$	3,666	$	3,005	$	(118	)	(4)	$	—	$	6,553	$	2,022	$	1,566	$	(80	)	(4)	$	—	$	3,508
December 31, 2022
Equity securities:(1)
U.S.	$	1,378	$	2,501	$	(46	)				$	3,833	$	858	$	1,304	$	(35	)				$	2,127
Fixed income securities:(2)
Corporate debt    instruments		640		1		(65	)		$	—		576		406		1		(47	)		$	—		360
Government    securities		1,252		4		(70	)			—		1,186		664		2		(35	)			—		631
Common/    collective    trust funds		98		—		—				—		98		61		—		—				—		61
Insurance contracts		221		—		—						221
Cash equivalents    and other(3)		43		—		—				—		43		23		—		—				—		23
Total	$	3,632	$	2,506	$	(181	)	(4)	$	—	$	5,957	$	2,012	$	1,307	$	(117	)	(4)	$	—	$	3,202

(1)Unrealized gains and losses on equity securities are included in other income (expense) and the nuclear decommissioning trust regulatory liability.

(2)Unrealized gains and losses on fixed income securities are included in AOCI and the nuclear decommissioning trust regulatory liability. Changes in allowance for credit losses are included in other income (expense).

(3)Dominion Energy includes pending sales of securities of $24 million and $42 million at June 30, 2023 and December 31, 2022, respectively. Virginia Power includes pending sales of securities of $9 million and $24 million at June 30, 2023, and December 31, 2022, respectively.

(4)Dominion Energy's fair value of securities in an unrealized loss position was $1.5 billion and $1.6 billion at June 30, 2023 and December 31, 2022, respectively. Virginia Power's fair value of securities in an unrealized loss position was $844 million and $946 million at June 30, 2023 and December 31, 2022, respectively.

Unrealized Gain Loss on Equity

The portion of unrealized gains and losses that relates to equity securities held within Dominion Energy and Virginia Power’s nuclear decommissioning trusts is summarized below:

	Dominion Energy										Virginia Power
	Quarter-to-Date					Year-to-Date					Quarter-to-Date					Year-to-Date
Period Ended June 30,	2023		2022			2023		2022			2023		2022			2023		2022
(millions)
Net gains (losses) recognized during    the period	$	294	$	(712	)	$	520	$	(918	)	$	153	$	(361	)	$	269	$	(463	)
Less: Net (gains) losses recognized    during the period on securities    sold during the period		1		6			3		5			2		—			3		(4	)
Unrealized gains (losses) recognized    during the period on securities still    held at period end(1)	$	295	$	(706	)	$	523	$	(913	)	$	155	$	(361	)	$	272	$	(467	)

(1)Included in other income (expense) and the nuclear decommissioning trust regulatory liability.

Investments Classified by Contractual Maturity Date

The fair value of Dominion Energy and Virginia Power’s fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds at June 30, 2023 by contractual maturity is as follows:

	Dominion Energy		Virginia Power
(millions)
Due in one year or less	$	91	$	59
Due after one year through five years		482		260
Due after five years through ten years		422		248
Due after ten years		895		519
Total	$	1,890	$	1,086

Marketable Securities

Presented below is selected information regarding Dominion Energy and Virginia Power’s equity and fixed income securities with readily determinable fair values held in nuclear decommissioning trust funds.

	Dominion Energy								Virginia Power
	Quarter-to-Date				Year-to-Date				Quarter-to-Date				Year-to-Date
Period Ended June 30,	2023		2022		2023		2022		2023		2022		2023		2022
(millions)
Proceeds from sales	$	594	$	1,267	$	1,138	$	2,081	$	346	$	472	$	719	$	864
Realized gains(1)		22		75		43		115		8		10		25		26
Realized losses(1)		36		143		77		197		14		33		45		52

(1)Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.

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Regulatory Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Regulatory Assets and Liabilities

Regulatory assets and liabilities include the following:

	Dominion Energy				Virginia Power
	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
(millions)
Regulatory assets:
Deferred cost of fuel used in electric generation(1)	$	401	$	603	$	50	$	133
Deferred rider costs for Virginia electric utility(2)		57		152		57		152
Ash pond and landfill closure costs(3)		181		221		181		221
Deferred nuclear refueling outage costs(4)		84		83		82		83
NND Project costs(5)		138		138
Deferred early plant retirement charges(6)		113		226		113		226
Derivatives(7)		84		256		81		251
Other		236		204		63		74
Regulatory assets-current		1,294		1,883		627		1,140
Unrecognized pension and other postretirement benefit costs(8)		873		891		—		4
Deferred rider costs for Virginia electric utility(2)		610		363		610		363
Interest rate hedges(9)		169		169		—		—
AROs and related funding(10)		384		380
NND Project costs(5)		2,018		2,088
Ash pond and landfill closure costs(3)		2,024		2,051		2,021		2,049
Deferred cost of fuel used in electric generation(1)		1,310		1,551		1,310		1,551
Derivatives(7)		183		254		79		148
Other		494		518		131		132
Regulatory assets-noncurrent		8,065		8,265		4,151		4,247
Total regulatory assets	$	9,359	$	10,148	$	4,778	$	5,387
Regulatory liabilities:
Provision for future cost of removal and AROs(11)		111		111		111		111
Reserve for refunds and rate credits to electric utility customers(12)		102		125		10		25
Income taxes refundable through future rates(13)		99		100		65		65
Monetization of guarantee settlement(14)		67		67
Derivatives(7)		12		211		—		176
Other		46		134		45		129
Regulatory liabilities-current		437		748		231		506
Income taxes refundable through future rates(13)		3,126		3,169		2,243		2,272
Provision for future cost of removal and AROs(11)		1,771		1,731		1,164		1,135
Nuclear decommissioning trust(15)		1,936		1,685		1,936		1,685
Monetization of guarantee settlement(14)		669		702
Interest rate hedges(9)		196		240		196		240
Reserve for refunds and rate credits to electric utility customers(12)		274		325		—		—
Overrecovered other postretirement benefit costs(16)		152		140
Derivatives(7)		189		234		—		—
Other		263		191		260		167
Regulatory liabilities-noncurrent		8,576		8,417		5,799		5,499
Total regulatory liabilities	$	9,013	$	9,165	$	6,030	$	6,005

(1)Reflects deferred fuel expenses for the Virginia and North Carolina jurisdictions of Virginia Power's electric generation operations and additionally for Dominion Energy, deferred fuel expenses for the South Carolina jurisdiction of its electric generation operations.

(2)Reflects deferrals under Virginia Power’s electric transmission FERC formula rate and the deferral of costs associated with certain current and prospective rider projects. In the second quarter of 2023, Virginia Power recorded a charge of $36 million ($27 million after-tax), included in impairment of assets and other charges in its Consolidated Statements of Income, for the write-off of certain previously deferred amounts related to Riders R, S and W in connection with the cessation of such riders effective July 2023. See Note 13 for additional information.

(3)Primarily reflects legislation in Virginia which requires any CCR asset located at certain Virginia Power stations to be closed by removing the CCR to an approved landfill or through beneficial reuse. These deferred costs are expected to be collected over a period between 15 and 18

years commencing December 2021 through Rider CCR. Virginia Power is entitled to collect carrying costs on uncollected expenditures once expenditures have been made.

(4)Legislation in Virginia requires Virginia Power to defer operation and maintenance costs incurred in connection with the refueling of any nuclear-powered generating plant. These deferred costs will be amortized over the refueling cycle, not to exceed 18 months.

(5)Reflects expenditures by DESC associated with the NND Project, which pursuant to the SCANA Merger Approval Order, will be recovered from DESC electric service customers over a 20-year period ending in 2039.

(6)Reflects amounts from the early retirements of certain coal- and oil-fired generating units to be amortized through 2023 in accordance with the settlement of the 2021 Triennial Review. See Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 for additional information.

(7)Represents changes in the fair value of derivatives, excluding separately presented interest rate hedges, that following settlement are expected to be recovered from or refunded to customers.

(8)Represents unrecognized pension and other postretirement employee benefit costs expected to be recovered or refunded through future rates generally over the expected remaining service period of plan participants by certain of Dominion Energy's rate-regulated subsidiaries. Includes $314 million and $302 million of regulatory assets in aggregate at June 30, 2023 and December 31, 2022, respectively, related to retained pension and other postretirement benefit plan assets and obligations for the East Ohio, PSNC and Questar Gas Transactions which will be reclassified to AOCI upon closing of each transaction.

(9)Reflects interest rate hedges recoverable from or refundable to customers. Certain of these instruments are settled and any related payments are being amortized into interest expense over the life of the related debt, which has a weighted-average useful life of approximately 25 years and 24 years for Dominion Energy and Virginia Power, respectively, as of June 30, 2023.

(10)Represents uncollected costs, including deferred depreciation and accretion expense, related to legal obligations associated with the future retirement of generation, transmission and distribution properties. The AROs primarily relate to DESC’s electric generating facilities, including Summer, and are expected to be recovered over the related property lives and periods of decommissioning which may range up to approximately 105 years.

(11)Rates charged to customers by Dominion Energy and Virginia Power's regulated businesses include a provision for the cost of future activities to remove assets that are expected to be incurred at the time of retirement.

(12)Reflects amounts previously collected from retail electric customers of DESC for the NND Project to be credited over an estimated 11-year period effective February 2019, in connection with the SCANA Merger Approval Order. Also reflects amounts to be refunded to jurisdictional retail electric customers in Virginia associated with the settlement of the 2021 Triennial Review. See Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 for additional information.

(13)Amounts recorded to pass the effect of reduced income taxes from the 2017 Tax Reform Act to customers in future periods, which will primarily reverse at the weighted average tax rate that was used to build the reserves over the remaining book life of the property, net of amounts to be recovered through future rates to pay income taxes that become payable when rate revenue is provided to recover AFUDC equity.

(14)Reflects amounts to be refunded to DESC electric service customers over a 20-year period ending in 2039 associated with the monetization of a bankruptcy settlement agreement.

(15)Primarily reflects a regulatory liability representing amounts collected from Virginia jurisdictional customers and placed in external trusts (including income, losses and changes in fair value thereon, as applicable) for the future decommissioning of Virginia Power's utility nuclear generation stations, in excess of the related AROs.

(16)Reflects a regulatory liability for the collection of postretirement benefit costs allowed in rates in excess of expense incurred.

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Regulatory Matters (Tables)

6 Months Ended

Jun. 30, 2023

Public Utilities General Disclosures [Line Items]

Summary of Significant Virginia Power Electric Transmission Projects Applied

Developments for significant Virginia Power electric transmission projects approved or applied for are as follows:

Description and Location of Project	Application Date	Approval Date	Type of Line	Miles of Lines	Cost Estimate (millions)
Partial rebuild of Bristers-Ox 115 kV line in   Fauquier and Prince William Counties, Virginia	August 2022	April 2023	230 kV	15	$	40
Construct new switching station, substations,   transmission lines and related projects in Lunenberg   and Mecklenburg Counties, Virginia	October 2022	June 2023	230 kV	18		230
Construct new switching station, substation,   transmission lines and related projects in Charlotte,   Halifax and Mecklenburg Counties, Virginia	October 2022	May 2023	230 kV	26		215
Construct new Mars and Wishing Star substations,   transmission lines and related projects in Loudoun   County, Virginia	October 2022	April 2023	500/230 kV	4		720
Construct new Altair switching station, transmission   lines and related projects in Loudoun County, Virginia	November 2022	June 2023	230 kV	2		50
Rebuild of Lines #2019 and #2007 in the City of   Virginia Beach, Virginia	February 2023	Pending	230 kV	5		95
Install transformer at Possum Point substation,   rebuild and construct transmission lines and   related projects in Prince William County, Virginia	March 2023	Pending	230 kV	2		35
Partial rebuild of Line #2011 in the Cities of   Manassas and Manassas Park, Virginia and   Prince William and Fairfax Counties, Virginia	March 2023	Pending	230 kV	7		35
Construct new transmission lines and convert Jeffress   switching station in Mecklenburg County, Virginia	May 2023	Pending	230 kV	18		135
Construct new transmission lines and expand White   Oak substation in Henrico County, Virginia	June 2023	Pending	230 kV	5		45

Virginia Electric and Power Company

Public Utilities General Disclosures [Line Items]

Significant Riders Associated With Virginia Power Projects

Developments for significant riders associated with various Virginia Power projects are as follows:

Rider Name	Application Date	Approval Date	Rate Year Beginning	Total Revenue Requirement (millions)				Increase (Decrease) Over Previous Year (millions)
Rider CCR	February 2023	Pending	December 2023	$	194			$	(37	)
Rider CE(1)	October 2022	April 2023	May 2023		89				18
Rider GT	August 2022	April 2023	June 2023		14				(42	)
Rider GT	August 2023	Pending	June 2024		145				131
Rider GV(2)	June 2023	Pending	April 2024		132				5
Rider GV(2)	June 2023	Pending	April 2025		135				3
Rider OSW	November 2022	July 2023	September 2023		271				192
Rider PPA	December 2022	July 2023	September 2023		(22	)			(17	)
Rider R	June 2021	March 2022	April 2023		55		(8)		(4	)
Rider RGGI(3)	December 2022	July 2023	September 2023		356			N/A
Rider RPS	December 2022	July 2023	September 2023		96				(44	)
Rider S	June 2021	February 2022	April 2023		191		(8)		(1	)
Rider SNA(4)	October 2022	June 2023	September 2023		50				(57	)
Rider T1(5)	May 2023	July 2023	September 2023		879				173
Rider U(6)	June 2022	February 2023	April 2023		74				(21	)
Rider US-3	August 2022	April 2023	June 2023		40				(10	)
Rider US-3	August 2023	Pending	June 2024		37				(3	)
Rider US-4	August 2022	April 2023	June 2023		16				1
Rider US-4	August 2023	Pending	June 2024		14				(2	)
Rider W(7)	June 2022	February 2023	April 2023		105		(8)		(16	)

(1)Associated with solar generation and energy storage projects requested for approval in October 2022 and certain small-scale solar projects in addition to previously approved Rider CE projects.

(2)The total revenue requirement requested is based on an estimated retirement of Greensville County in 2058, consistent with the current estimated useful life of the facility. Virginia Power also provided an alternative approach based on an estimated retirement of Greensville County in 2045, which if utilized would result in a revenue requirement of $144 million and $148 million for rate years beginning April 2024 and April 2025, respectively.

(3)In December 2022, Virginia Power filed a petition to update and reinstate Rider RGGI to recover RGGI compliance costs incurred after July 2022 and those projected to occur through December 2023, with rate recovery from September 2023 through August 2024. For purposes of this proceeding, Virginia Power has assumed that Virginia will withdraw from RGGI on December 31, 2023, and accordingly did not project any RGGI compliance costs to be incurred after that date.

(4)Virginia Power requested approval of cost recovery of approximately $1.2 billion through Rider SNA for the first phase of nuclear life extension program which includes investments through 2024. In April 2022, Virginia Power, the Virginia Commission staff and certain interested parties filed a proposed stipulation recommending that costs incurred after February 2022 associated with the first phase of the nuclear life extension program for North Anna be deferred and requested for recovery in a subsequent Rider SNA filing.

(5)Consists of $510 million for the transmission component of Virginia Power's base rates and $369 million for Rider T1.

(6)Consists of previously approved phases of Rider U.

(7)In February 2023, the Virginia Commission also approved Virginia Power's requested revenue requirement for the rate year beginning April 2024. However, as Virginia Power provided notification in May 2023 to combine Rider W into base rates as discussed above, Rider W ceased to be separately collected effective July 2023.

(8)In May 2023, Virginia Power filed a notification with the Virginia Commission to combine Riders R, S and W, which have an aggregate revenue requirement of $351 million, into base rates effective July 2023 in accordance with legislation enacted in Virginia in April 2023.

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Significant Financing Transactions (Tables)

6 Months Ended

Jun. 30, 2023

Debt Instrument [Line Items]

Schedule of Line of Credit Facilities

At June 30, 2023, Dominion Energy’s commercial paper and letters of credit outstanding, as well as its capacity available under the credit facility, were as follows:

	Facility Limit		Outstanding Commercial Paper		Outstanding Letters of Credit		Facility Capacity Available
(millions)
Joint revolving credit facility(1)	$	6,000	$	4,172	$	16	$	1,812

(1)This credit facility matures in June 2026, with the potential to be extended by the borrowers to June 2028, and can be used by the borrowers under the credit facility to support bank borrowings and the issuance of commercial paper, as well as to support up to a combined $2.0 billion of letters of credit.

Virginia Electric and Power Company

Debt Instrument [Line Items]

Schedule of Line of Credit Facilities

At June 30, 2023, Virginia Power’s share of commercial paper and letters of credit outstanding under the joint revolving credit facility with Dominion Energy, Questar Gas and DESC was as follows:

	Facility Limit(1)		Outstanding Commercial Paper		Outstanding Letters of Credit
(millions)
Joint revolving credit facility(1)	$	6,000	$	1,265	$	10

(1)The full amount of the facility is available to Virginia Power, less any amounts outstanding to co-borrowers Dominion Energy, Questar Gas and DESC. The sub-limit for Virginia Power is set pursuant to the terms of the facility but can be changed at the option of the borrowers multiple times per year. At June 30, 2023, the sub-limit for Virginia Power was $1.75 billion. If Virginia Power has liquidity needs in excess of

its sub-limit, the sub-limit may be changed or such needs may be satisfied through short-term intercompany borrowings from Dominion Energy. This credit facility matures in June 2026, with the potential to be extended by the borrowers to June 2028. The credit facility can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $2.0 billion (or the sub-limit, whichever is less) of letters of credit.

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Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2023

Commitments And Contingencies Disclosure [Abstract]

Schedule of Subsidiary Guarantees

At June 30, 2023, Dominion Energy had issued the following subsidiary guarantees:

	Maximum Exposure
(millions)
Commodity transactions(1)	$	2,861
Nuclear obligations(2)		245
Solar(3)		214
Other(4)		1,269
Total(5)(6)	$	4,589

(1)Guarantees related to commodity commitments of certain subsidiaries. These guarantees were provided to counterparties in order to facilitate physical and financial transaction related commodities and services.

(2)Guarantees primarily related to certain DGI subsidiaries regarding all aspects of running a nuclear facility.

(3)Includes guarantees to facilitate the development of solar projects.

(4)Guarantees related to other miscellaneous contractual obligations such as leases, environmental obligations, construction projects and insurance programs. Also includes guarantees entered into by Dominion Energy RNG Holdings II, Inc. on behalf of a subsidiary to facilitate construction of renewable natural gas facilities. Due to the uncertainty of workers’ compensation claims, the parental guarantee has no stated limit.

(5)Excludes Dominion Energy’s guarantee of an offshore wind installation vessel discussed in Note 14.

(6)In July 2016, Dominion Energy signed an agreement with a lessor to construct and lease a new corporate office property in Richmond, Virginia. The lessor provided equity and obtained financing commitments from debt investors, totaling $365 million, which funded total project costs. The project became substantially complete in August 2019 at which point the facility was available for Dominion Energy’s use and the five-year lease term commenced. At the end of the initial lease term, Dominion Energy can (i) extend the term of the lease for an additional five years, subject to the approval of the participants, at current market terms, (ii) purchase the property for an amount equal to the project costs or, (iii) subject to certain terms and conditions, sell the property on behalf of the lessor to a third party using commercially reasonable efforts to obtain the highest cash purchase price for the property. If the project is sold and the proceeds from the sale are insufficient to repay the investors for the project costs, Dominion Energy may be required to make a payment to the lessor, up to 87% of project costs, for the difference between the project costs and sale proceeds. At June 30, 2023, no amounts have been recorded related to this guarantee.

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Related-Party Transactions (Tables)

6 Months Ended

Jun. 30, 2023

Virginia Electric and Power Company

Schedule of Related Party Transactions

Presented below are Virginia Power’s significant transactions with DES and other affiliates:

	Quarter-to-Date				Year-to-Date
Period Ended June 30,	2023		2022		2023		2022
(millions)
Commodity purchases from affiliates	$	103	$	291	$	317	$	584
Services provided by affiliates(1)		145		123		292		253
Services provided to affiliates		4		5		8		9

(1)Includes capitalized expenditures of $46 million and $39 million for the three months ended June 30, 2023 and 2022, respectively, and $100 million and $78 million for the six months ended June 30, 2023 and 2022, respectively.

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Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2023

Compensation And Retirement Disclosure [Abstract]

Net Periodic Benefit Cost (Credit)

The components of Dominion Energy’s provision for net periodic benefit cost (credit) are as follows:

	Pension Benefits												Other Postretirement Benefits
	Quarter-to-Date						Year-to-Date						Quarter-to-Date						Year-to-Date
Period Ended June 30,	2023			2022			2023			2022			2023			2022			2023			2022
(millions)
Service cost	$	24		$	35		$	48		$	71		$	4		$	5		$	7		$	11
Interest cost		110			84			221			167			16			12			31			23
Expected return on plan assets		(216	)		(223	)		(432	)		(446	)		(38	)		(48	)		(76	)		(96	)
Amortization of prior service    cost (credit)		—			—			—			—			(9	)		(9	)		(18	)		(19	)
Amortization of net actuarial    (gain) loss		—			40			—			80			(2	)		(1	)		(3	)		(1	)
Net periodic benefit    (credit) cost	$	(82	)	$	(64	)	$	(163	)	$	(128	)	$	(29	)	$	(41	)	$	(59	)	$	(82	)

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Operating Segments (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting Information [Line Items]

Schedule of Primary Operating Segments

The Companies are organized primarily on the basis of products and services sold in the U.S. A description of the operations included in the Companies’ primary operating segments effective September 2023 is as follows:

Primary Operating Segment	Description of Operations	Dominion Energy	Virginia Power
Dominion Energy Virginia	Regulated electric distribution	X	X
	Regulated electric transmission	X	X
	Regulated electric generation fleet(1)	X	X
Dominion Energy South Carolina	Regulated electric distribution	X
	Regulated electric transmission	X
	Regulated electric generation fleet	X
	Regulated gas distribution and storage	X
Contracted Energy(2)	Nonregulated electric generation fleet(3)	X

(1)Includes Virginia Power’s non-jurisdictional solar generation operations.

(2)Includes renewable natural gas operations.

(3)Includes solar generation facility development operations.

Schedule of Segment Reporting Information, by Segment

The following table presents segment information pertaining to Dominion Energy’s operations:

	Dominion Energy Virginia			Dominion Energy South Carolina		Contracted Energy			Corporate and Other			Adjustments & Eliminations			Consolidated Total
(millions)
Three Months Ended June 30, 2023
Total revenue from external       customers	$	2,252		$	771	$	126		$	17		$	—		$	3,166
Intersegment revenue		(1	)		2		5			229			(235	)		—
Total operating revenue		2,251			773		131			246			(235	)		3,166
Net income from discontinued       operations		—			—		—			168			—			168
Net income (loss) attributable to       Dominion Energy		392			68		(44	)		183			—			599
Three Months Ended June 30, 2022
Total revenue from external       customers	$	2,173		$	812	$	161		$	(87	)	$	—		$	3,059
Intersegment revenue		(3	)		3		6			204			(210	)		—
Total operating revenue		2,170			815		167			117			(210	)		3,059
Net income from discontinued       operations		—			—		—			212			—			212
Net income (loss) attributable to       Dominion Energy		442			124		(27	)		(992	)		—			(453	)
Six Months Ended June 30, 2023
Total revenue from external      customers	$	4,636		$	1,615	$	434		$	364		$	—		$	7,049
Intersegment revenue		(1	)		3		8			460			(470	)		—
Total operating revenue		4,635			1,618		442			824			(470	)		7,049
Net income from discontinued      operations		—			—		—			449			—			449
Net income attributable to      Dominion Energy		776			159		69			592			—			1,596
Six Months Ended June 30, 2022
Total revenue from external      customers	$	4,342		$	1,610	$	405		$	(185	)	$	—		$	6,172
Intersegment revenue		(7	)		4		10			419			(426	)		—
Total operating revenue		4,335			1,614		415			234			(426	)		6,172
Net income from discontinued      operations		—			—		—			623			—			623
Net income (loss) attributable to      Dominion Energy		958			233		30			(963	)		—			258

Virginia Electric and Power Company

Segment Reporting Information [Line Items]

Schedule of Segment Reporting Information, by Segment

The following table presents segment information pertaining to Virginia Power’s operations:

	Dominion Energy Virginia		Corporate and Other			Consolidated Total
(millions)
Three Months Ended June 30, 2023
Operating revenue	$	2,251	$	—		$	2,251
Net income (loss)		392		(60	)		332
Three Months Ended June 30, 2022
Operating revenue	$	2,170	$	5		$	2,175
Net income (loss)		442		(395	)		47
Six Months Ended June 30, 2023
Operating revenue	$	4,635	$	—		$	4,635
Net income (loss)		776		(91	)		685
Six Months Ended June 30, 2022
Operating revenue	$	4,335	$	7		$	4,342
Net income (loss)		958		(554	)		404

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Nature of Operations (Additional Information) (Details) - BHE - Cove Point	Sep. 30, 2023	Jul. 31, 2023
Discontinued Operations, Held for Sale
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Percentage of equity interests sold	50.00%
GT&S Transaction
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Percentage of noncontrolling limited partnership interest retained		50.00%

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Significant Accounting Policies (Reconciliation of Total Cash, Restricted Cash and Equivalents) (Detail) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022		Jun. 30, 2022	Dec. 31, 2021
Cash Cash Equivalents And Restricted Cash [Line Items]
Cash and cash equivalents	[1]	$ 137	$ 153		$ 273	$ 283
Cash and cash equivalents		108	120	[2]
Restricted cash and equivalents	[3]	178	188		134	125
Cash, restricted cash and equivalents shown in the Consolidated Statements of Cash Flows		315	341		407	408
Virginia Electric and Power Company
Cash Cash Equivalents And Restricted Cash [Line Items]
Cash and cash equivalents		19	22	[4]	56	26
Restricted cash and equivalents	[5]	0	2		2	0
Cash, restricted cash and equivalents shown in the Consolidated Statements of Cash Flows		$ 19	$ 24		$ 58	$ 26

[1] At June 30, 2023, June 30, 2022, December 31, 2022 and December 31, 2021, Dominion Energy had $29 million, $24 million, $34 million and $34 million, respectively, of cash and cash equivalents included in current assets held for sale.

[2] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[3] At June 30, 2023, June 30, 2022, December 31, 2022 and December 31, 2021, Dominion Energy had $3 million, $1 million, $2 million and less than $1 million, respectively, of restricted cash and equivalents included in current assets held for sale.

[4] Virginia Power’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date.

[5] Restricted cash and equivalents balances are presented within other current assets in Virginia Power's Consolidated Balance Sheets.

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Significant Accounting Policies (Reconciliation of Total Cash, Restricted Cash and Equivalents) (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022		Jun. 30, 2022	Dec. 31, 2021
Cash Cash Equivalents And Restricted Cash [Line Items]
Cash and cash equivalents	$ 108	$ 120	[1]
Current Assets Held for Sale
Cash Cash Equivalents And Restricted Cash [Line Items]
Cash and cash equivalents	29	34		$ 24	$ 34
Restricted cash and equivalents	$ 3	$ 2		$ 1
Current Assets Held for Sale | Maximum
Cash Cash Equivalents And Restricted Cash [Line Items]
Restricted cash and equivalents					$ 1

[1] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

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Significant Accounting Policies (Schedule of Supplemental Cash Flow Information) (Detail) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022
Significant noncash investing and financing activities:
Accrued capital expenditures		$ 713	$ 512
Leases	[1],[2]	279	57
Virginia Electric and Power Company
Significant noncash investing and financing activities:
Accrued capital expenditures		550	240
Leases	[3]	$ 242	$ 47

[1] Includes $40 million and $19 million of financing leases at June 30, 2023 and 2022, respectively, and $239 million and $38 million of operating leases at June 30, 2023 and 2022, respectively.

[2] See Note 10 for noncash investing activities related to the acquisition of a noncontrolling interest in Dominion Privatization, Note 16 for noncash financing activities related to the remarketing of Series A Preferred Stock and the issuance of common stock associated with the settlement of litigation and Note 17 for noncash financing activities related to the transfer of property associated with the settlement of litigation.

[3] Includes $36 million and $14 million of financing leases at June 30, 2023 and 2022, respectively, and $206 million and $33 million of operating leases at June 30, 2023 and 2022, respectively.

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Significant Accounting Policies (Schedule of Supplemental Cash Flow Information) (Parenthetical) (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Schedule Of Supplemental Cash Flow Information [Line Items]
Financing leases	$ 40	$ 19
Operating Leases	239	38
Virginia Electric and Power Company
Schedule Of Supplemental Cash Flow Information [Line Items]
Financing leases	36	14
Operating Leases	$ 206	$ 33

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Acquisitions and Dispositions (Business Review Dispositions) (Narrative) (Detail) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Aug. 31, 2023
Enbridge | East Ohio Transaction
Business Acquisition And Dispositions [Line Items]
Disposal group, total value of consideration	$ 6,600.0	$ 6,600.0
Disposal group, cash consideration	4,300.0	4,300.0
Disposal Group, assumed indebtedness	2,300.0	2,300.0
Termination fee due receivable	155.0	155.0
Disposal group, recognized a pre-tax gain	20.0	$ 20.0
Disposal group, recognized a gain on disposal after tax	(20.0)
Goodwill write-off	1.5
Disposal group, transition services description		At the closing of the East Ohio Transaction, Dominion Energy and Enbridge will enter into a transition services agreement pursuant to which Dominion Energy will continue to provide certain services to support the ongoing operations of East Ohio for up to approximately two years. Enbridge has also agreed to provide certain services to Dominion Energy.
Enbridge | PSNC Transaction
Business Acquisition And Dispositions [Line Items]
Disposal group, total value of consideration	3,100.0	$ 3,100.0
Disposal group, cash consideration	2,200.0	2,200.0
Disposal Group, assumed indebtedness	1,000.0	1,000.0
Termination fee due receivable	78.0	78.0
Disposal group, recognized a pre-tax gain	130.0	$ 130.0
Disposal group, recognized a gain on disposal after tax	(290.0)
Goodwill write-off	0.7
Disposal group, transition services description		At the closing of the PSNC Transaction, Dominion Energy and Enbridge will enter into a transition services agreement pursuant to which Dominion Energy will continue to provide certain services to support the ongoing operations of PSNC for up to approximately two years. Enbridge has also agreed to provide certain services to Dominion Energy.
Enbridge | Questar Gas Transaction
Business Acquisition And Dispositions [Line Items]
Disposal group, total value of consideration	4,300.0	$ 4,300.0
Disposal group, cash consideration	3,000.0	3,000.0
Disposal Group, assumed indebtedness	1,300.0	1,300.0
Termination fee due receivable	107.0	107.0
Disposal group, recognized a pre-tax gain	(10.0)	$ (10.0)
Disposal group, recognized a gain on disposal after tax	(530.0)
Goodwill write-off	$ 1,000.0
Disposal group, transition services description		At the closing of the Questar Gas Transaction, Dominion Energy and Enbridge will enter into a transition services agreement pursuant to which Dominion Energy will continue to provide certain services to support the ongoing operations of Questar Gas and Wexpro for up to approximately two years. Enbridge has also agreed to provide certain services to Dominion Energy.
Tredegar Solar Fund I, LLC | Spruce Power | Other
Business Acquisition And Dispositions [Line Items]
Disposal group, cash consideration			$ 21,000.0

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Acquisitions and Dispositions (Schedule of Results of Operations of Disposal Groups Reported As Discontinued Operations) (Detail) - USD ($) $ in Millions		3 Months Ended				6 Months Ended
		Jun. 30, 2023		Jun. 30, 2022		Jun. 30, 2023		Jun. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income tax expense (benefit)		$ 38		$ 32		$ 94		$ 132
Net income attributable to Dominion Energy		168		212		449		623
East Ohio Transaction | Enbridge
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating revenue		235		222		547		532
Operating expense		153		145		369		363
Other income (expense)		7		7		15		14
Interest and related charges		17		6		32		9
Income (loss) before income taxes		72		78		161		174
Income tax expense (benefit)		6		10		19		24
Net income attributable to Dominion Energy		66	[1]	68	[2]	142	[1]	150	[2]
PSNC Transaction | Enbridge
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating revenue		120		111		446		446
Operating expense		98		88		306		312
Other income (expense)		3		1		5		3
Interest and related charges		12		10		25		19
Income (loss) before income taxes		13		14		120		118
Income tax expense (benefit)		2		2		26		25
Net income attributable to Dominion Energy		11	[1]	12	[2]	94	[1]	93	[2]
Questar Gas Transaction | Enbridge
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating revenue		271		213		1,001		732
Operating expense		233		170		812		558
Other income (expense)		2				3
Interest and related charges		17		10		33		20
Income (loss) before income taxes		23		33		159		154
Income tax expense (benefit)		3		5		32		31
Net income attributable to Dominion Energy		20	[1]	28	[2]	127	[1]	123	[2]
Other | Tredegar Solar Fund I, LLC | Spruce Power
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating revenue		2		1		3		3
Operating expense		19		$ 1		22		$ 3
Interest and related charges		1				1
Income (loss) before income taxes		(18)				(20)
Income tax expense (benefit)		(4)				(5)
Net income attributable to Dominion Energy	[1]	$ (14)				$ (15)

[1] Excludes $5 million and $(4) million of income tax expense (benefit) attributable to consolidated state and interim period tax allocation adjustments for the three and six months ended June 30, 2023, respectively.

[2] Excludes $(9) million and $(13) million of income tax expense (benefit) attributable to consolidated state and interim period tax allocation adjustments for the three and six months ended June 30, 2022, respectively.

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Acquisitions and Dispositions (Schedule of Results of Operations of Disposal Groups Reported As Discontinued Operations) (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Business Review Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income tax expense (benefit)	$ 5	$ (9)	$ (4)	$ (13)

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Acquisitions and Dispositions - (Schedule Of Major Classes Of Assets And Liabilities Relating To The Disposal Groups Reported As Held For Sale ) (Detail) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current assets		$ 1,478	$ 1,776	[1]
Current liabilities		711	1,398	[2]
Enbridge | East Ohio Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current assets	[3]	403	544
Property, plant and equipment, net		5,174	5,012
Other deferred charges and other assets, including goodwill and intangible assets	[4]	2,628	2,629
Current liabilities		359	634
Long-term debt		2,286	2,287
Other deferred credits and liabilities		1,423	1,435
Enbridge | PSNC Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current assets	[3]	230	381
Property, plant and equipment, net		2,659	2,591
Other deferred charges and other assets, including goodwill and intangible assets	[4]	818	822
Current liabilities		120	151
Long-term debt		798	798
Other deferred credits and liabilities		695	689
Enbridge | Questar Gas Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current assets	[3]	728	803
Property, plant and equipment, net		4,094	3,984
Other deferred charges and other assets, including goodwill and intangible assets	[4]	1,004	1,043
Current liabilities		223	612
Long-term debt		1,245	1,245
Other deferred credits and liabilities		1,097	1,087
Tredegar Solar Fund I, LLC | Spruce Power | Other
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current assets		30	1
Property, plant and equipment, net			47
Current liabilities		$ 9	1
Other deferred credits and liabilities			$ 9

[1] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[2] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[3] Includes cash and cash equivalents of $3 million and $6 million within the East Ohio Transaction, less than $1 million and less than $1 million within the PSNC Transaction and $26 million and $28 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively. Also includes regulatory assets of $93 million and $90 million within the East Ohio Transaction, $108 million and $95 million within the PSNC Transaction and $450 million and $273 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively.

[4] Includes goodwill of $1.5 billion, $673 million and $983 million at both June 30, 2023 and December 31, 2022 within the East Ohio, PSNC and Questar Gas Transactions, respectively. Also includes regulatory assets of $739 million and $751 million within the East Ohio Transaction, $89 million and $93 million within the PSNC Transaction and $(31) million and $(22) million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively. (3) Includes regulatory liabilities of $57 million and $43 million within the East Ohio Transaction, $39 million and $11 million within the PSNC Transaction and $50 million and $144 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively. (4) Includes regulatory liabilities of $730 million and $749 million within the East Ohio Transaction, $439 million and $436 million within the PSNC Transaction and $509 million and $506 million within the Questar Gas Transaction at June 30, 2023 and December 31, 2022, respectively.

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Acquisitions and Dispositions - (Schedule Of Major Classes Of Assets And Liabilities Relating To The Disposal Groups Reported As Held For Sale) (Parenthetical) (Detail) - Enbridge - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
East Ohio Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	$ 3	$ 6
Goodwill	1,500	1,500
Regulatory assets (Current assets)	93	90
Regulatory assets (Other deferred charges and other assets, including goodwill and intangible assets)	739	751
Regulatory liabilities	57	43
Regulatory liabilities (Other deferred credits and liabilities)	730	749
PSNC Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill	673	673
Regulatory assets (Current assets)	108	95
Regulatory assets (Other deferred charges and other assets, including goodwill and intangible assets)	89	93
Regulatory liabilities	39	11
Regulatory liabilities (Other deferred credits and liabilities)	439	436
PSNC Transaction | Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	1	1
Questar Gas Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	26	28
Goodwill	983	983
Regulatory assets (Current assets)	450	273
Regulatory assets (Other deferred charges and other assets, including goodwill and intangible assets)	(31)	(22)
Regulatory liabilities	50	144
Regulatory liabilities (Other deferred credits and liabilities)	$ 509	$ 506

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Acquisitions and Dispositions - (Schedule of Capital Expenditures and Significant Noncash Items Reported As Discontinued Operations) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Significant noncash items
Depreciation, depletion and amortization	$ 603	$ 600	$ 1,221	$ 1,202
Accrued capital expenditures			713	512
Enbridge | East Ohio Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Capital expenditures			215	192
Significant noncash items
Depreciation, depletion and amortization			71	65
Accrued capital expenditures			48	28
Enbridge | PSNC Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Capital expenditures			99	68
Significant noncash items
Depreciation, depletion and amortization			44	43
Accrued capital expenditures			19	16
Enbridge | Questar Gas Transaction
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Capital expenditures			177	210
Significant noncash items
Depreciation, depletion and amortization			86	81
Accrued capital expenditures			32	35
Tredegar Solar Fund I, LLC | Spruce Power | Other Sales
Significant noncash items
Depreciation, depletion and amortization			$ 2	$ 2

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Acquisitions and Dispositions (Disposition of Gas Transmission & Storage Operations) (Narrative) (Detail) - Q-Pipe Group - Southwest Gas $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($)
Business Acquisition And Dispositions [Line Items]
Gain (loss) on held for sale	$ 27
Gain (loss) on held for sale, after tax	$ 20

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Acquisitions and Dispositions (Sale of Kewaunee) (Narrative) (Detail) - Dominion Energy Kewaunee, Inc - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2023	May 31, 2021
Business Acquisition And Dispositions [Line Items]
Percentage of equity interests expected to be sold			100.00%
Disposal group, loss (gain) recorded	$ 649
Disposal group, loss (gain) recorded after tax	$ 513
Withdrawal to recover nuclear fuel and other permitted costs		$ 80

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Operating Revenue (Schedule of Operating Revenue) (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		$ 3,080	$ 3,303	$ 6,532	$ 6,731
Other revenues	[1],[2]	86	(244)	517	(559)
Total operating revenue		3,166	3,059	7,049	6,172
Regulated Electric Sales | Residential
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		1,124	1,117	2,410	2,404
Regulated Electric Sales | Commercial
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		1,147	1,089	2,217	1,987
Regulated Electric Sales | Industrial
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		211	220	431	417
Regulated Electric Sales | Government and Other Retail
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		232	297	476	569
Regulated Electric Sales | Wholesale
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		36	68	80	115
Nonregulated Electric Sales
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		125	236	382	603
Regulated Gas Sales | Residential
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		43	52	179	215
Regulated Gas Sales | Commercial
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		28	40	81	105
Regulated Gas Sales | Other
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		16	43	39	77
Regulated Gas Transportation and Storage
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		5	14	9	24
Other Regulated Revenues
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		65	84	143	140
Other Nonregulated Revenues
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers	[2],[3]	48	43	85	75
Virginia Electric and Power Company
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		2,189	2,239	4,535	4,435
Other revenues	[1],[2]	62	(64)	100	(93)
Total operating revenue		2,251	2,175	4,635	4,342
Virginia Electric and Power Company | Regulated Electric Sales | Residential
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		832	816	1,842	1,831
Virginia Electric and Power Company | Regulated Electric Sales | Commercial
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		917	874	1,783	1,591
Virginia Electric and Power Company | Regulated Electric Sales | Industrial
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		99	110	215	213
Virginia Electric and Power Company | Regulated Electric Sales | Government and Other Retail
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		213	281	442	539
Virginia Electric and Power Company | Regulated Electric Sales | Wholesale
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		22	31	51	63
Virginia Electric and Power Company | Nonregulated Electric Sales
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		22	31	33	45
Virginia Electric and Power Company | Other Regulated Revenues
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers		62	80	136	131
Virginia Electric and Power Company | Other Nonregulated Revenues
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers	[2],[3]	$ 22	$ 16	$ 33	$ 22

[1] Includes alternative revenue of $50 million and $19 million for the three months ended June 30, 2023 and 2022, respectively, and $77 million and $27 million for the six months ended June 30, 2023 and 2022, respectively, at both Dominion Energy and Virginia Power.

[2] See Note 19 for amounts attributable to affiliates.

[3] Sales of renewable energy credits were $24 million and $7 million for the three months ended June 30, 2023 and 2022, respectively, and $29 million and $11 million for the six months ended June 30, 2023 and 2022, respectively, at Dominion Energy and $19 million and less than $1 million for the three months ended June 30, 2023 and 2022, respectively, and $22 million and less than $1 million for the six months ended June 30, 2023 and 2022, respectively, at Virginia Power.

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Operating Revenue (Schedule of Operating Revenue) (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers	$ 3,080	$ 3,303	$ 6,532	$ 6,731
Renewable Energy Investment Tax Credits
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers	24	7	29	11
Alternative Revenue Programs
Public Utilities General Disclosures [Line Items]
Other revenues	50	19	77	27
Virginia Electric and Power Company
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers	2,189	2,239	4,535	4,435
Virginia Electric and Power Company | Alternative Revenue Programs
Public Utilities General Disclosures [Line Items]
Other revenues	50	19	77	27
Virginia Electric and Power Company | Maximum | Renewable Energy Investment Tax Credits
Public Utilities General Disclosures [Line Items]
Operating revenue from contracts with customers	$ 19	$ 1	$ 22	$ 1

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Operating Revenue (Narrative) (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenues From Contract With Customer [Line Items]
Revenue recognized from contract liability balances	$ 47	$ 42
Other Current Liabilities and Other Deferred Credits and Other Liabilities
Revenues From Contract With Customer [Line Items]
Contract liability balances	81		$ 51
Virginia Electric and Power Company
Revenues From Contract With Customer [Line Items]
Revenue recognized from contract liability balances	39	$ 33
Virginia Electric and Power Company | Other Current Liabilities and Other Deferred Credits and Other Liabilities
Revenues From Contract With Customer [Line Items]
Contract liability balances	$ 74		$ 39

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Income Taxes (Reconciliation of Income Taxes at the U.S. Statutory Federal Income Tax Rate) (Detail)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Effective Income Tax Computation [Line Items]
U.S. statutory rate	21.00%	21.00%
Increases (reductions) resulting from:
Recognition of taxes - sale of subsidiary stock		(24.10%)
State taxes, net of federal benefit	3.80%	(2.80%)
Investment tax credits	(3.10%)	4.50%
Production tax credits	(0.50%)	0.50%
Reversal of excess deferred income taxes	(2.00%)	4.20%
Changes in state deferred taxes associated with assets held for sale		(1.40%)
AFUDC - equity	(0.10%)	0.20%
Other, net	(1.20%)	0.30%
Effective tax rate	17.90%	2.40%
Virginia Electric and Power Company
Effective Income Tax Computation [Line Items]
U.S. statutory rate	21.00%	21.00%
Increases (reductions) resulting from:
State taxes, net of federal benefit	4.60%	4.40%
Investment tax credits	(0.30%)	(6.90%)
Production tax credits	(0.80%)	(1.00%)
Reversal of excess deferred income taxes	(2.30%)	(3.90%)
AFUDC - equity	(0.10%)	(1.00%)
Other, net	(0.50%)	0.60%
Effective tax rate	21.60%	13.20%

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Income Taxes (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2022
Income Taxes [Line Items]
Income tax expense (benefit)	$ 86	$ (152)	$ 250	$ (9)
Income tax expense (benefit) from discontinued operations	$ 38	$ 32	$ 94	132
Hope Gas Inc
Income Taxes [Line Items]
Percentage of equity interests sold					100.00%
Income tax expense (benefit)				$ 90

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Earnings Per Share (Calculation of Basic and Diluted EPS) (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income from continuing operations		$ 431	$ (665)	$ 1,147	$ (365)
Preferred stock dividends (see Note 16)		(20)	(25)	(40)	(52)
Net income attributable to Dominion Energy from continuing operations – Basic		411	(690)	1,107	(417)
Dilutive effect of 2019 Equity Units	[1],[2]	0	0	0	0
Net income attributable to Dominion Energy from continuing operations - Diluted		411	(690)	1,107	(417)
Net income attributable to Dominion Energy		$ 168	$ 212	$ 449	$ 623
Average shares of common stock outstanding – Basic		836.0	818.4	835.6	814.5
Net effect of dilutive securities	[1],[3]	0.2	0.0	0.3	0.0
Average shares of common stock outstanding – Diluted		836.2	818.4	835.9	814.5
EPS from continuing operations – Basic		$ 0.49	$ (0.84)	$ 1.32	$ (0.51)
EPS from discontinued operations – Basic		0.2	0.26	0.54	0.76
Net income (loss) attributable to Dominion Energy		0.69	(0.58)	1.86	0.25
EPS from continuing operations – Diluted		0.49	(0.84)	1.32	(0.51)
EPS from discontinued operations – Diluted		0.2	0.26	0.54	0.76
Net income (loss) attributable to Dominion Energy		$ 0.69	$ (0.58)	$ 1.86	$ 0.25

[1] As a result of a net loss for the three and six months ended June 30, 2022, any adjustments to earnings or shares would be considered antidilutive and are therefore excluded from the calculation of diluted EPS.

[2] Effective January 2022, diluted net income was no longer reduced by the Series A Preferred Stock dividends.

[3] Dilutive securities for the three and six months ended June 30, 2023 include stock potentially to be issued to satisfy the obligation under a settlement agreement with the SCDOR (applying the if converted method). See Note 17 for additional information.

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Accumulated Other Comprehensive Income (Loss) (Schedule of Changes in AOCI Net of Tax and Reclassifications out of AOCI by Component) (Detail) - USD ($) $ in Millions		3 Months Ended						6 Months Ended
		Jun. 30, 2023		Mar. 31, 2023		Jun. 30, 2022		Jun. 30, 2023		Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[1]			$ 27,881				$ 27,881
Interest and related charges		$ (395)				$ (71)		(874)		$ (313)
Other income (expense)		314				(285)		590		(242)
Income tax expense (benefit)		(86)				152		(250)		9
Net Income (Loss) From Continuing Operations		431				(665)		1,147		(365)
Total other comprehensive income (loss)		(1)				40		6		62
Ending balance		28,428						28,428
Virginia Electric and Power Company
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		17,593		17,245	[2]	16,348		17,245	[2]	15,980
Interest and related charges	[3]	(182)				(145)		(363)		(293)
Other income (expense)		48				(44)		84		(40)
Income before income tax expense		421				47		873		465
Income tax expense (benefit)		(89)				0		(188)		(61)
Total other comprehensive income (loss)		5				22		0		34
Ending balance		17,930		17,593		16,418		17,930		16,418
Total Derivative-Hedging Activities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		(250)	[4],[5]	(249)	[6],[7]	(323)	[4],[5]	(249)	[6],[7]	(358)	[6],[7]
Other comprehensive income (loss) before reclassifications: gains (losses)		6	[4],[5]			29	[4],[5]	(3)	[6],[7]	54	[6],[7]
Income tax expense (benefit)		(2)	[4],[5]					(5)	[6],[7]
Net Income (Loss) From Continuing Operations		8	[4],[5]					16	[6],[7]
Total other comprehensive income (loss)		14	[4],[5]			40	[4],[5]	13	[6],[7]	75	[6],[7]
Ending balance	[4]	(236)	[5],[7]	(250)	[5]	(283)	[7]	(236)	[5],[7]	(283)	[7]
Total Derivative-Hedging Activities | Virginia Electric and Power Company
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		7	[6],[8]	16	[9],[10]	(25)	[6],[8]	16	[9],[10]	(45)	[9],[10]
Other comprehensive income (loss) before reclassifications: gains (losses)		6	[6],[8]			25	[6],[8]	(3)	[9],[10]	44	[9],[10]
Total other comprehensive income (loss)		6	[6],[8]			25	[6],[8]	(3)	[9],[10]	45	[9],[10]
Ending balance	[6],[8]	13	[10]	7		0	[10]	13	[10]	0	[10]
Total Derivative-Hedging Activities | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and related charges		10	[4],[5]			14	[4],[5]	(21)	[6],[7]	28	[6],[7]
Other income (expense)		0	[4],[5]			0	[4],[5]	0	[6],[7]	0	[6],[7]
Income before income tax expense		10	[4],[5]			14	[4],[5]	21	[6],[7]	28	[6],[7]
Income tax expense (benefit)						(3)	[4],[5]			(7)	[6],[7]
Net Income (Loss) From Continuing Operations						11	[4],[5]			21	[6],[7]
Total Derivative-Hedging Activities | Reclassification out of Accumulated Other Comprehensive Income | Virginia Electric and Power Company
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and related charges	[9],[10]									1
Other income (expense)	[9],[10]									0
Income before income tax expense	[9],[10]									1
Net Income (Loss) From Continuing Operations	[9],[10]									1
Investment Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		(26)	[11]	(44)	[12]	(22)	[11]	(44)	[12]	37	[12]
Other comprehensive income (loss) before reclassifications: gains (losses)		(1)	[11]			(27)	[11]	16	[12]	(89)	[12]
Income tax expense (benefit)		1	[11]					0	[12]
Net Income (Loss) From Continuing Operations		(2)	[11]					(1)	[12]
Total other comprehensive income (loss)		(3)	[11]			(18)	[11]	15	[12]	(77)	[12]
Ending balance	[11]	(29)	[12]	(26)		(40)	[12]	(29)	[12]	(40)	[12]
Investment Securities | Virginia Electric and Power Company
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		(3)	[13]	(7)	[14]	(4)	[13]	(7)	[14]	4	[14]
Other comprehensive income (loss) before reclassifications: gains (losses)		(1)	[13]			(3)	[13]	3	[14]	(10)	[14]
Total other comprehensive income (loss)		(1)	[13]			(3)	[13]	3	[14]	(11)	[14]
Ending balance	[13]	(4)	[14]	(3)		(7)	[14]	(4)	[14]	(7)	[14]
Investment Securities | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and related charges		0	[11]			0	[11]	0	[12]	0	[12]
Other income (expense)		(3)	[11]			12	[11]	(1)	[12]	16	[12]
Income before income tax expense		(3)	[11]			12	[11]	(1)	[12]	16	[12]
Income tax expense (benefit)						(3)	[11]			(4)	[12]
Net Income (Loss) From Continuing Operations						9	[11]			12	[12]
Investment Securities | Reclassification out of Accumulated Other Comprehensive Income | Virginia Electric and Power Company
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and related charges	[14]									0
Other income (expense)	[14]									(1)
Income before income tax expense	[14]									(1)
Net Income (Loss) From Continuing Operations	[14]									(1)
Pension and Other Postretirement Benefit Costs
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		(1,287)	[15]	(1,276)	[16]	(1,088)	[15]	(1,276)	[16]	(1,133)	[16]
Other comprehensive income (loss) before reclassifications: gains (losses)		0	[15]			2	[15]	0	[16]	30	[16]
Income tax expense (benefit)		4	[15]					8	[16]
Net Income (Loss) From Continuing Operations		(12)	[15]					(23)	[16]
Total other comprehensive income (loss)		(12)	[15]			18	[15]	(23)	[16]	63	[16]
Ending balance	[15]	(1,299)	[16]	(1,287)		(1,070)	[16]	(1,299)	[16]	(1,070)	[16]
Pension and Other Postretirement Benefit Costs | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and related charges		0	[15]			0	[15]	0	[16]	0	[16]
Other income (expense)		(16)	[15]			22	[15]	(31)	[16]	45	[16]
Income before income tax expense		(16)	[15]			22	[15]	(31)	[16]	45	[16]
Income tax expense (benefit)						(6)	[15]			(12)	[16]
Net Income (Loss) From Continuing Operations						16	[15]			33	[16]
Equity Method Investees
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		(2)	[17]	(3)	[18]	(3)	[17]	(3)	[18]	(4)	[18]
Other comprehensive income (loss) before reclassifications: gains (losses)		0	[17]			0	[17]	1	[18]	1	[18]
Income tax expense (benefit)		0	[17]					0	[18]	0	[18]
Net Income (Loss) From Continuing Operations		0	[17]					0	[18]	0	[18]
Total other comprehensive income (loss)		0	[17]			0	[17]	1	[18]	1	[18]
Ending balance	[17]	(2)	[18]	(2)		(3)	[18]	(2)	[18]	(3)	[18]
Equity Method Investees | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and related charges		0	[17]			0	[17]	0	[18]	0	[18]
Other income (expense)		0	[17]			0	[17]	0	[18]	0	[18]
Income before income tax expense		0	[17]			0	[17]	0	[18]	0	[18]
Income tax expense (benefit)	[17]					0
Net Income (Loss) From Continuing Operations	[17]					0
AOCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		(1,565)		(1,572)		(1,436)		(1,572)		(1,458)
Other comprehensive income (loss) before reclassifications: gains (losses)		5				4		14		(4)
Income tax expense (benefit)		3						3
Net Income (Loss) From Continuing Operations		(6)						(8)
Total other comprehensive income (loss)		(1)				40		6		62
Ending balance		(1,566)		(1,565)		(1,396)		(1,566)		(1,396)
AOCI | Virginia Electric and Power Company
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		4		9		(29)		9		(41)
Other comprehensive income (loss) before reclassifications: gains (losses)		5				22		0		34
Total other comprehensive income (loss)		5				22		0		34
Ending balance		9		$ 4		(7)		9		(7)
AOCI | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and related charges		10				14		(21)		28
Other income (expense)		(19)				34		(32)		61
Income before income tax expense		$ (9)				48		$ (11)		89
Income tax expense (benefit)						(12)				(23)
Net Income (Loss) From Continuing Operations						$ 36				66
AOCI | Reclassification out of Accumulated Other Comprehensive Income | Virginia Electric and Power Company
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and related charges										(1)
Other income (expense)										(1)
Income before income tax expense										0
Net Income (Loss) From Continuing Operations										$ 0

[1] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[2] Virginia Power’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date.

[3] See Note 19 for amounts attributable to affiliates.

[4] Comprised entirely of interest rate derivative hedging activities.

[5] Net of $79 million, $83 million, $94 million and $107 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

[6] Comprised entirely of interest rate derivative hedging activities.

[7] Net of $79 million, $83 million, $94 million and $119 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

[8] Net of $(4) million, $(2) million, $— million and $9 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

[9] Comprised entirely of interest rate derivative hedging activities.

[10] Net of $(4) million, $(5) million, $— million and $16 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

[11] Net of $9 million, $6 million, $14 million and $8 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

[12] Net of $9 million, $13 million, $14 million and $(10) million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

[13] Net of $1 million, $1 million, $3 million and $1 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

[14] Net of $1 million, $2 million, $3 million and $(2) million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

[15] Net of $453 million, $449 million, $376 million and $380 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

[16] Net of $453 million, $445 million, $376 million and $396 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

[17] Net of $— million, $— million, $1 million and $1 million tax at June 30, 2023, March 31, 2023, June 30, 2022 and March 31, 2022, respectively.

[18] Net of $— million, $1 million, $1 million and $1 million tax at June 30, 2023, December 31, 2022, June 30, 2022 and December 31, 2021, respectively.

XML

Accumulated Other Comprehensive Income (Loss) (Schedule of Changes in AOCI Net of Tax and Reclassifications out of AOCI by Component) (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Total Derivative-Hedging Activities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amount of tax	$ 79	$ 83	$ 83	$ 94	$ 107	$ 119
Total Derivative-Hedging Activities | Virginia Electric and Power Company
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amount of tax	(4)	(2)	(5)	0	9	16
Investment Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amount of tax	9	6	13	14	8	(10)
Investment Securities | Virginia Electric and Power Company
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amount of tax	1	1	2	3	1	(2)
Pension and Other Postretirement Benefit Costs
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amount of tax	453	449	445	376	380	396
Equity Method Investees
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amount of tax	$ 0	$ 0	$ 1	$ 1	$ 1	$ 1

XML

Fair Value Measurements (Fair Value, Option, Quantitative Disclosures) (Detail) $ in Millions		6 Months Ended
		Jun. 30, 2023 USD ($) $ / MWh $ / MMBTU	Dec. 31, 2022 USD ($)
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets		$ 1,255	$ 2,176
Fair Value of Derivative Liabilities		794	1,404
Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets		224	882
Fair Value of Derivative Liabilities		238	456
Fair Value, Measurements, Recurring
Fair Value, Option, Quantitative Disclosures [Line Items]
Total assets		7,489	7,782
Total liabilities		794	1,404
Fair Value, Measurements, Recurring | Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Total assets		3,574	3,902
Total liabilities		238	456
Fair Value, Measurements, Recurring | Commodity Contract
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets		351	769
Fair Value of Derivative Liabilities		354	926
Fair Value, Measurements, Recurring | Commodity Contract | Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets		89	268
Fair Value of Derivative Liabilities		168	348
Fair Value, Measurements, Recurring | Level 3
Fair Value, Option, Quantitative Disclosures [Line Items]
Total assets		156	437
Total liabilities		22	15
Fair Value, Measurements, Recurring | Level 3 | Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Total assets		15	236
Total liabilities		18	15
Fair Value, Measurements, Recurring | Level 3 | Commodity Contract
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets		156	437
Fair Value of Derivative Liabilities		22	15
Fair Value, Measurements, Recurring | Level 3 | Commodity Contract | Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets		15	236
Fair Value of Derivative Liabilities		18	$ 15
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Natural Gas
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Liabilities	[1],[2]	$ 18
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Natural Gas | Minimum | Liabilities | Market Price
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MMBTU	[1],[2]	(2)
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Natural Gas | Minimum | Liabilities | Market Price | Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MMBTU	[1],[2]	(2)
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Natural Gas | Maximum | Liabilities | Market Price
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MMBTU	[1],[2]	2
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Natural Gas | Maximum | Liabilities | Market Price | Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MMBTU	[1],[2]	2
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Natural Gas | Weighted Average | Assets | Market Price
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MWh	[1],[2],[3]	4
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Natural Gas | Weighted Average | Assets | Market Price | Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MWh	[1],[2],[3]	4
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Natural Gas | Weighted Average | Liabilities | Market Price
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MWh	[1],[2],[3]	(1)
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Natural Gas | Weighted Average | Liabilities | Market Price | Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MWh	[1],[2],[3]	(1)
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Electricity
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets	[2]	$ 141
Fair Value of Derivative Liabilities	[2]	$ 4
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Electricity | Minimum | Assets | Market Price
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MWh	[2]	25
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Electricity | Minimum | Liabilities | Market Price
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MWh	[2]	32
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Electricity | Maximum | Assets | Market Price
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MWh	[2]	138
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Electricity | Maximum | Liabilities | Market Price
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MWh	[2]	138
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Electricity | Weighted Average | Assets | Market Price
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MWh	[2],[3]	47
Fair Value, Measurements, Recurring | Level 3 | Discounted cash flow | Commodity Contract | Electricity | Weighted Average | Liabilities | Market Price
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MWh	[2],[3]	64
Fair Value, Measurements, Recurring | Level 3 | Option Model | Commodity Contract | Natural Gas
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets	[1],[2]	$ 15
Fair Value, Measurements, Recurring | Level 3 | Option Model | Commodity Contract | Natural Gas | Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets	[1],[2]	15
Fair Value of Derivative Liabilities	[1],[2]	$ 18
Fair Value, Measurements, Recurring | Level 3 | Option Model | Commodity Contract | Natural Gas | Minimum | Assets | Market Price
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MMBTU	[1],[2]	1
Fair Value, Measurements, Recurring | Level 3 | Option Model | Commodity Contract | Natural Gas | Minimum | Assets | Market Price | Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MMBTU	[1],[2]	1
Fair Value, Measurements, Recurring | Level 3 | Option Model | Commodity Contract | Natural Gas | Minimum | Assets | Price Volatility
Fair Value, Option, Quantitative Disclosures [Line Items]
Price volatility (percentage)	[4]	19.00%
Fair Value, Measurements, Recurring | Level 3 | Option Model | Commodity Contract | Natural Gas | Minimum | Assets | Price Volatility | Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Price volatility (percentage)	[4]	19.00%
Fair Value, Measurements, Recurring | Level 3 | Option Model | Commodity Contract | Natural Gas | Maximum | Assets | Market Price
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MMBTU	[1],[2]	8
Fair Value, Measurements, Recurring | Level 3 | Option Model | Commodity Contract | Natural Gas | Maximum | Assets | Market Price | Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price | $ / MMBTU	[1],[2]	8
Fair Value, Measurements, Recurring | Level 3 | Option Model | Commodity Contract | Natural Gas | Maximum | Assets | Price Volatility
Fair Value, Option, Quantitative Disclosures [Line Items]
Price volatility (percentage)	[4]	72.00%
Fair Value, Measurements, Recurring | Level 3 | Option Model | Commodity Contract | Natural Gas | Maximum | Assets | Price Volatility | Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Price volatility (percentage)	[4]	72.00%
Fair Value, Measurements, Recurring | Level 3 | Option Model | Commodity Contract | Natural Gas | Weighted Average | Liabilities | Price Volatility
Fair Value, Option, Quantitative Disclosures [Line Items]
Price volatility (percentage)	[3],[4]	51.00%
Fair Value, Measurements, Recurring | Level 3 | Option Model | Commodity Contract | Natural Gas | Weighted Average | Liabilities | Price Volatility | Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Price volatility (percentage)	[3],[4]	51.00%

[1] Includes basis.

[2] Represents market prices beyond defined terms for Levels 1 and 2.

[3] Averages weighted by volume.

[4] Represents volatilities unrepresented in published markets.

XML

Fair Value Measurements (Narrative) (Detail) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gains or losses included in operating revenue in Level 3 fair value category	$ 2,000,000		$ 0	$ 2,000,000	$ 0
Level 3 | Corporate Office Building
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets, estimated fair value	22,000,000	$ 35,000,000		22,000,000
Impairment of Assets and Other Charges | Corporate Office Building
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of assets and other charges	15,000,000	91,000,000
Asset impairment charges after tax	11,000,000	$ 68,000,000
Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of assets and other charges	38,000,000		409,000,000	45,000,000	413,000,000
Unrealized gains or losses included in operating revenue in Level 3 fair value category	$ 0		$ 0	$ 0	$ 0

XML

Fair Value Measurements (Assets and Liabilities that are Measured at Fair Value on a Recurring Basis) (Detail) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets		$ 1,255	$ 2,176
Derivative Liabilities		794	1,404
Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets		224	882
Derivative Liabilities		238	456
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		7,489	7,782
Total Liabilities		794	1,404
Fair Value, Measurements, Recurring | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		3,574	3,902
Total Liabilities		238	456
Fair Value, Measurements, Recurring | Equity securities: | U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	[1]	4,354	3,810
Fair Value, Measurements, Recurring | Equity securities: | U.S. | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	[1]	2,317	2,028
Fair Value, Measurements, Recurring | Fixed Income | Corporate debt instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	[1]	539	576
Fair Value, Measurements, Recurring | Fixed Income | Corporate debt instruments | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	[1]	323	360
Fair Value, Measurements, Recurring | Fixed Income | Government Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	[1]	1,314	1,220
Fair Value, Measurements, Recurring | Fixed Income | Government Securities | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	[1]	709	632
Fair Value, Measurements, Recurring | Cash Equivalents and Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and other		27
Fair Value, Measurements, Recurring | Cash Equivalents and Other | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and other		1
Fair Value, Measurements, Recurring | Foreign Currency Exchange Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities		59	101
Fair Value, Measurements, Recurring | Foreign Currency Exchange Rate | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities		59	101
Fair Value, Measurements, Recurring | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets		351	769
Derivative Liabilities		354	926
Fair Value, Measurements, Recurring | Commodity | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets		89	268
Derivative Liabilities		168	348
Fair Value, Measurements, Recurring | Interest Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets		904	1,407
Derivative Liabilities		381	377
Fair Value, Measurements, Recurring | Interest Rate | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets		135	614
Derivative Liabilities		11	7
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		4,552	3,971
Fair Value, Measurements, Recurring | Level 1 | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		2,409	2,118
Fair Value, Measurements, Recurring | Level 1 | Equity securities: | U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	[1]	4,354	3,810
Fair Value, Measurements, Recurring | Level 1 | Equity securities: | U.S. | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	[1]	2,317	2,028
Fair Value, Measurements, Recurring | Level 1 | Fixed Income | Government Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	[1]	170	161
Fair Value, Measurements, Recurring | Level 1 | Fixed Income | Government Securities | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	[1]	90	90
Fair Value, Measurements, Recurring | Level 1 | Cash Equivalents and Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and other		27
Fair Value, Measurements, Recurring | Level 1 | Cash Equivalents and Other | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and other		1
Fair Value, Measurements, Recurring | Level 1 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets		1
Fair Value, Measurements, Recurring | Level 1 | Commodity | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets		1
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		2,781	3,374
Total Liabilities		772	1,389
Fair Value, Measurements, Recurring | Level 2 | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		1,150	1,548
Total Liabilities		220	441
Fair Value, Measurements, Recurring | Level 2 | Fixed Income | Corporate debt instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	[1]	539	576
Fair Value, Measurements, Recurring | Level 2 | Fixed Income | Corporate debt instruments | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	[1]	323	360
Fair Value, Measurements, Recurring | Level 2 | Fixed Income | Government Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	[1]	1,144	1,059
Fair Value, Measurements, Recurring | Level 2 | Fixed Income | Government Securities | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	[1]	619	542
Fair Value, Measurements, Recurring | Level 2 | Foreign Currency Exchange Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities		59	101
Fair Value, Measurements, Recurring | Level 2 | Foreign Currency Exchange Rate | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities		59	101
Fair Value, Measurements, Recurring | Level 2 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets		194	332
Derivative Liabilities		332	911
Fair Value, Measurements, Recurring | Level 2 | Commodity | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets		73	32
Derivative Liabilities		150	333
Fair Value, Measurements, Recurring | Level 2 | Interest Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets		904	1,407
Derivative Liabilities		381	377
Fair Value, Measurements, Recurring | Level 2 | Interest Rate | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets		135	614
Derivative Liabilities		11	7
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		156	437
Total Liabilities		22	15
Fair Value, Measurements, Recurring | Level 3 | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		15	236
Total Liabilities		18	15
Fair Value, Measurements, Recurring | Level 3 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets		156	437
Derivative Liabilities		22	15
Fair Value, Measurements, Recurring | Level 3 | Commodity | Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets		15	236
Derivative Liabilities		$ 18	$ 15

[1] Includes investments held in the nuclear decommissioning trusts and rabbi trusts. Excludes $375 million and $404 million of assets at Dominion Energy, inclusive of $152 million and $161 million at Virginia Power, at June 30, 2023 and December 31, 2022, respectively, measured at fair value using NAV (or its equivalent) as a practical expedient which are not required to be categorized in the fair value hierarchy.

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Fair Value Measurements (Assets and Liabilities that are Measured at Fair Value on a Recurring Basis) (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value using NAV	$ 375	$ 404
Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value using NAV	$ 152	$ 161

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Fair Value Measurements (Net Change in the Assets and Liabilities Measured at Fair Value on a Recurring Basis and Included in the Level 3 Fair Value Category) (Detail) - Commodity - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	$ 206	$ 202	$ 422	$ 222
Total realized and unrealized gains (losses):
Included in earnings	$ (36)	$ 117	$ (87)	$ 165
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Electric fuel and other energy-related purchases	Electric fuel and other energy-related purchases	Electric fuel and other energy-related purchases	Electric fuel and other energy-related purchases
Included in regulatory assets/liabilities	$ (74)	$ 261	$ (290)	$ 241
Settlements	36	(117)	71	(165)
Purchases		17	16	17
Ending balance	134	480	134	480
Virginia Electric and Power Company
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	55	22	221	102
Total realized and unrealized gains (losses):
Included in earnings	$ (36)	$ 106	$ (88)	$ 151
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Electric fuel and other energy-related purchases	Electric fuel and other energy-related purchases	Electric fuel and other energy-related purchases	Electric fuel and other energy-related purchases
Included in regulatory assets/liabilities	$ (58)	$ 206	$ (224)	$ 126
Settlements	36	(106)	72	(151)
Purchases		17	16	17
Ending balance	(3)	$ 245	(3)	$ 245
Operating Revenue
Total realized and unrealized gains (losses):
Operating Revenue	$ 2		$ 2

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Fair Value Measurements (Financial Instruments' Carrying Amounts and Fair Values) (Detail) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	[1]	$ 41,887	$ 39,680
Supplemental credit facility borrowings		450	450
Junior subordinated notes	[1]	1,387	1,387
Estimate of Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	[1],[2]	38,876	36,426
Supplemental credit facility borrowings	[2]	450	450
Junior subordinated notes	[1],[2]	1,349	1,340
Virginia Electric and Power Company | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	[1]	16,399	15,616
Virginia Electric and Power Company | Estimate of Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	[1],[2]	$ 14,909	$ 14,067

[1] Carrying amount includes current portions presented in securities due within one year and amounts which represent the unamortized debt issuance costs and discount or premium. Additionally, the Dominion Energy carrying amount includes portions classified as held for sale and presented in current liabilities held for sale and noncurrent liabilities held for sale.

[2] Fair value is estimated using market prices, where available, and interest rates currently available for issuance of debt with similar terms and remaining maturities. All fair value measurements are classified as Level 2. The carrying amount of debt issuances with short-term maturities and variable rates refinanced at current market rates is a reasonable estimate of their fair value.

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Fair Value Measurements (Financial Instruments' Carrying Amounts and Fair Values) (Parenthetical) (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	[1]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Supplemental line of credit facility borrowings expiration period	1 year
Long-term debt	$ 33,278	$ 32,515

[1] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

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Derivatives and Hedge Accounting Activities (Schedule of Offsetting Assets) (Detail) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Offsetting Assets [Line Items]
Gross Assets Presented in the Consolidated Balance Sheet	[1]	$ 1,121	$ 1,975
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		324	435
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral Received		0	0
Net Amounts		797	1,540
Virginia Electric and Power Company
Offsetting Assets [Line Items]
Gross Assets Presented in the Consolidated Balance Sheet	[1]	223	852
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		44	45
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral Received		0	0
Net Amounts		179	807
Commodity Contract | Over-the-counter
Offsetting Assets [Line Items]
Gross Assets Presented in the Consolidated Balance Sheet	[1]	162	408
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		55	28
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral Received		0	0
Net Amounts		107	380
Commodity Contract | Over-the-counter | Virginia Electric and Power Company
Offsetting Assets [Line Items]
Gross Assets Presented in the Consolidated Balance Sheet	[1]	78	238
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		32	7
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral Received		0	0
Net Amounts		46	231
Commodity Contract | Exchange
Offsetting Assets [Line Items]
Gross Assets Presented in the Consolidated Balance Sheet	[1]	55	160
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		55	159
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral Received		0	0
Net Amounts		0	1
Commodity Contract | Exchange | Virginia Electric and Power Company
Offsetting Assets [Line Items]
Gross Assets Presented in the Consolidated Balance Sheet	[1]	10	0
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		10	0
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral Received		0	0
Net Amounts		0	0
Interest Rate Contract | Over-the-counter
Offsetting Assets [Line Items]
Gross Assets Presented in the Consolidated Balance Sheet	[1]	904	1,407
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		214	248
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral Received		0	0
Net Amounts		690	1,159
Interest Rate Contract | Over-the-counter | Virginia Electric and Power Company
Offsetting Assets [Line Items]
Gross Assets Presented in the Consolidated Balance Sheet	[1]	135	614
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		2	38
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral Received		0	0
Net Amounts		$ 133	$ 576

[1] Excludes derivative assets of $134 million and $201 million at Dominion Energy and $1 million and $30 million at Virginia Power at June 30, 2023 and December 31, 2022, respectively, which are not subject to master netting or other similar arrangements.

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Derivatives and Hedge Accounting Activities (Schedule of Offsetting Assets) (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Offsetting Assets [Line Items]
Derivative assets, not subject to a master netting or similar arrangement	$ 134	$ 201
Virginia Electric and Power Company
Offsetting Assets [Line Items]
Derivative assets, not subject to a master netting or similar arrangement	$ 1	$ 30

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Derivatives and Hedge Accounting Activities (Schedule of Offsetting Liabilities) (Detail) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Offsetting Liabilities [Line Items]
Gross Liabilities Presented in the Consolidated Balance Sheet	[1]	$ 794	$ 1,404
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		324	435
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral		91	396
Net Amounts		379	573
Virginia Electric and Power Company
Offsetting Liabilities [Line Items]
Gross Liabilities Presented in the Consolidated Balance Sheet	[1]	160	430
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		44	45
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral		13	247
Net Amounts		103	138
Commodity Contract | Over-the-counter
Offsetting Liabilities [Line Items]
Gross Liabilities Presented in the Consolidated Balance Sheet	[1]	209	443
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		55	34
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral		0	71
Net Amounts		154	338
Commodity Contract | Over-the-counter | Virginia Electric and Power Company
Offsetting Liabilities [Line Items]
Gross Liabilities Presented in the Consolidated Balance Sheet	[1]	67	146
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		32	13
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral		0	71
Net Amounts		35	62
Commodity Contract | Exchange
Offsetting Liabilities [Line Items]
Gross Liabilities Presented in the Consolidated Balance Sheet	[1]	145	483
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		55	159
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral		90	324
Net Amounts		0	0
Commodity Contract | Exchange | Virginia Electric and Power Company
Offsetting Liabilities [Line Items]
Gross Liabilities Presented in the Consolidated Balance Sheet	[1]	23	176
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		10	0
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral		13	176
Net Amounts		0	0
Interest Rate Contract | Over-the-counter
Offsetting Liabilities [Line Items]
Gross Liabilities Presented in the Consolidated Balance Sheet	[1]	381	377
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		214	210
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral		1	1
Net Amounts		166	166
Interest Rate Contract | Over-the-counter | Virginia Electric and Power Company
Offsetting Liabilities [Line Items]
Gross Liabilities Presented in the Consolidated Balance Sheet	[1]	11	7
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		2	0
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral		0	0
Net Amounts		9	7
Foreign currency exchange rate | Over-the-counter
Offsetting Liabilities [Line Items]
Gross Liabilities Presented in the Consolidated Balance Sheet	[1]	59	101
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		0	32
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral		0	0
Net Amounts		59	69
Foreign currency exchange rate | Over-the-counter | Virginia Electric and Power Company
Offsetting Liabilities [Line Items]
Gross Liabilities Presented in the Consolidated Balance Sheet	[1]	59	101
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments		0	32
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral		0	0
Net Amounts		$ 59	$ 69

[1] Excludes derivative liabilities of $78 million and $26 million at Virginia Power at June 30, 2023 and December 31, 2022, respectively, which are not subject to master netting or similar arrangements. Dominion Energy did not have any derivative liabilities at June 30, 2023 and December 31, 2022 which were not subject to master netting or similar arrangements.

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Derivatives and Hedge Accounting Activities (Schedule of Offsetting Liabilities) (Parenthetical) (Detail) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Offsetting Liabilities [Line Items]
Derivative liabilities, not subject to a master netting or similar arrangement	$ 0	$ 0
Virginia Electric and Power Company
Offsetting Liabilities [Line Items]
Derivative liabilities, not subject to a master netting or similar arrangement	$ 78,000,000	$ 26,000,000

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Derivatives and Hedge Accounting Activities (Volume of Derivative Activity) (Detail) - 6 months ended Jun. 30, 2023 € in Millions, kr in Millions, $ in Millions		USD ($) MWh Bcf	DKK (kr)	EUR (€)
Fixed Price - Natural Gas - Current Derivative Contract
Derivative [Line Items]
Volume of derivative activity | Bcf	[1]	43
Fixed Price - Natural Gas - Current Derivative Contract | Virginia Electric and Power Company
Derivative [Line Items]
Volume of derivative activity | Bcf	[1]	40
Basis - Natural Gas - Current Derivative Contract
Derivative [Line Items]
Volume of derivative activity | Bcf	[2]	157
Basis - Natural Gas - Current Derivative Contract | Virginia Electric and Power Company
Derivative [Line Items]
Volume of derivative activity | Bcf	[2]	138
Fixed Price - Electricity - Current Derivative Contract
Derivative [Line Items]
Volume of electricity | MWh		17
Fixed Price - Electricity - Current Derivative Contract | Virginia Electric and Power Company
Derivative [Line Items]
Volume of electricity | MWh		8
Oil - Current Derivative Contract
Derivative [Line Items]
Derivative payment | $		$ 6
Oil - Current Derivative Contract | Virginia Electric and Power Company
Derivative [Line Items]
Derivative payment | $		6
Interest Rate - Current Derivative Contract
Derivative [Line Items]
Derivative payment | $	[3]	524
Interest Rate - Current Derivative Contract | Virginia Electric and Power Company
Derivative [Line Items]
Derivative payment | $	[3]	$ 125
Foreign Currency Exchange Rate - Current Derivative Contract
Derivative [Line Items]
Derivative payment	[3]		kr 1,004	€ 453
Foreign Currency Exchange Rate - Current Derivative Contract | Virginia Electric and Power Company
Derivative [Line Items]
Derivative payment	[3]		1,004	453
Fixed Price - Natural Gas - Non-current Derivative Contract
Derivative [Line Items]
Volume of derivative activity | Bcf	[1]	14
Fixed Price - Natural Gas - Non-current Derivative Contract | Virginia Electric and Power Company
Derivative [Line Items]
Volume of derivative activity | Bcf	[1]	14
Basis - Natural Gas - Non-current Derivative Contract
Derivative [Line Items]
Volume of derivative activity | Bcf	[2]	375
Basis - Natural Gas - Non-current Derivative Contract | Virginia Electric and Power Company
Derivative [Line Items]
Volume of derivative activity | Bcf	[2]	372
Fixed Price - Electricity - Non-current Derivative Contract
Derivative [Line Items]
Volume of electricity | MWh		44
Fixed Price - Electricity - Non-current Derivative Contract | Virginia Electric and Power Company
Derivative [Line Items]
Volume of electricity | MWh		13
Oil - Non-current Derivative Contract
Derivative [Line Items]
Derivative payment | $		$ 0
Oil - Non-current Derivative Contract | Virginia Electric and Power Company
Derivative [Line Items]
Derivative payment | $		0
Interest Rate - Non-current Derivative Contract
Derivative [Line Items]
Derivative payment | $	[3]	11,758
Interest Rate - Non-current Derivative Contract | Virginia Electric and Power Company
Derivative [Line Items]
Derivative payment | $	[3]	$ 2,750
Foreign Currency Exchange Rate - Non-current Derivative Contract
Derivative [Line Items]
Derivative payment	[3]		3,468	2,131
Foreign Currency Exchange Rate - Non-current Derivative Contract | Virginia Electric and Power Company
Derivative [Line Items]
Derivative payment	[3]		kr 3,468	€ 2,131

[1] Includes options at Dominion Energy.

[2] Includes options.

[3] Maturity is determined based on final settlement period.

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Derivatives and Hedge Accounting Activities (Selected Information Related to Gains and Losses on Cash Flow Hedges Included in AOCI) (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Derivative Instruments Gain Loss [Line Items]
AOCI After-Tax	$ (236)
Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax	(33)
Virginia Electric and Power Company
Derivative Instruments Gain Loss [Line Items]
AOCI After-Tax	13
Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax	0
Interest Rate Contract
Derivative Instruments Gain Loss [Line Items]
AOCI After-Tax	(236)
Interest rate, Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax	$ (33)
Maximum Term	390 months
Interest Rate Contract | Virginia Electric and Power Company
Derivative Instruments Gain Loss [Line Items]
AOCI After-Tax	$ 13
Interest rate, Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax	$ 0
Maximum Term	390 months

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Derivatives and Hedge Accounting Activities (Fair Value of Derivatives) (Detail) - USD ($) $ in Millions		Jun. 30, 2023		Dec. 31, 2022
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale	[1]	$ 260		$ 1,137
Derivative Asset, Noncurrent	[2]	995		1,039
Derivatives Assets		1,255		2,176
Derivative Liability Current Including Held for Sale	[3]	332		778
Derivative Liabilities, Noncurrent	[4]	462		626
Derivative Liabilities		794		1,404
Virginia Electric and Power Company
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale	[1]	61		765
Derivative Asset, Noncurrent	[2]	163		117
Derivatives Assets		224		882
Derivative Liability Current Including Held for Sale	[3]	126		298
Derivative Liabilities, Noncurrent	[4]	112		158
Derivative Liabilities		238		456
Commodity Contract
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale		129		532
Derivative Asset, Noncurrent		222		237
Derivative Liability Current Including Held for Sale		240		700
Derivative Liabilities, Noncurrent		114		226
Commodity Contract | Virginia Electric and Power Company
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale		43		264
Derivative Asset, Noncurrent		46		4
Derivative Liability Current Including Held for Sale		117		290
Derivative Liabilities, Noncurrent		51		58
Interest Rate Contract
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale		131		605
Derivative Asset, Noncurrent		773		802
Derivative Liability Current Including Held for Sale		83		70
Derivative Liabilities, Noncurrent		298		307
Interest Rate Contract | Virginia Electric and Power Company
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale		18		501
Derivative Asset, Noncurrent		117		113
Derivative Liability Current Including Held for Sale		0		0
Derivative Liabilities, Noncurrent		11		7
Foreign currency exchange rate
Derivatives Fair Value [Line Items]
Derivative Liability Current Including Held for Sale		9		8
Derivative Liabilities, Noncurrent		50		93
Foreign currency exchange rate | Virginia Electric and Power Company
Derivatives Fair Value [Line Items]
Derivative Liability Current Including Held for Sale		9		8
Derivative Liabilities, Noncurrent		50		93
Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale	[1]	18		501
Derivative Asset, Noncurrent	[2]	117		113
Derivatives Assets		135		614
Derivative Liability Current Including Held for Sale	[3]	0		0
Derivative Liabilities, Noncurrent	[4]	11		7
Derivative Liabilities		11		7
Designated as Hedging Instrument | Virginia Electric and Power Company
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale	[1]	18		501
Derivative Asset, Noncurrent	[2]	117		113
Derivatives Assets		135		614
Derivative Liability Current Including Held for Sale	[3]	0		0
Derivative Liabilities, Noncurrent	[4]	11		7
Derivative Liabilities		11		7
Designated as Hedging Instrument | Commodity Contract
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale		0		0
Derivative Asset, Noncurrent		0	[2]	0
Derivative Liability Current Including Held for Sale		0		0
Derivative Liabilities, Noncurrent		0		0
Designated as Hedging Instrument | Commodity Contract | Virginia Electric and Power Company
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale		0		0
Derivative Asset, Noncurrent		0		0
Derivative Liability Current Including Held for Sale		0		0
Derivative Liabilities, Noncurrent		0		0
Designated as Hedging Instrument | Interest Rate Contract
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale		18		501
Derivative Asset, Noncurrent		117		113
Derivative Liability Current Including Held for Sale		0		0
Derivative Liabilities, Noncurrent		11		7
Designated as Hedging Instrument | Interest Rate Contract | Virginia Electric and Power Company
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale		18		501
Derivative Asset, Noncurrent		117		113
Derivative Liability Current Including Held for Sale		0		0
Derivative Liabilities, Noncurrent		11		7
Designated as Hedging Instrument | Foreign currency exchange rate
Derivatives Fair Value [Line Items]
Derivative Liability Current Including Held for Sale		0		0
Derivative Liabilities, Noncurrent		0		0
Designated as Hedging Instrument | Foreign currency exchange rate | Virginia Electric and Power Company
Derivatives Fair Value [Line Items]
Derivative Liability Current Including Held for Sale		0		0
Derivative Liabilities, Noncurrent		0		0
Fair Value - Derivatives not under Hedge Accounting
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale	[1]	242		636
Derivative Asset, Noncurrent	[2]	878		926
Derivatives Assets		1,120		1,562
Derivative Liability Current Including Held for Sale	[3]	332		778
Derivative Liabilities, Noncurrent	[4]	451		619
Derivative Liabilities		783		1,397
Fair Value - Derivatives not under Hedge Accounting | Virginia Electric and Power Company
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale	[1]	43		264
Derivative Asset, Noncurrent	[2]	46		4
Derivatives Assets		89		268
Derivative Liability Current Including Held for Sale	[3]	126		298
Derivative Liabilities, Noncurrent	[4]	101		151
Derivative Liabilities		227		449
Fair Value - Derivatives not under Hedge Accounting | Commodity Contract
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale		129		532
Derivative Asset, Noncurrent		222		237
Derivative Liability Current Including Held for Sale		240		700
Derivative Liabilities, Noncurrent		114		226
Fair Value - Derivatives not under Hedge Accounting | Commodity Contract | Virginia Electric and Power Company
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale		43		264
Derivative Asset, Noncurrent		46		4
Derivative Liability Current Including Held for Sale		117		290
Derivative Liabilities, Noncurrent		51		58
Fair Value - Derivatives not under Hedge Accounting | Interest Rate Contract
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale		113		104
Derivative Asset, Noncurrent		656		689
Derivative Liability Current Including Held for Sale		83		70
Derivative Liabilities, Noncurrent		287		300
Fair Value - Derivatives not under Hedge Accounting | Interest Rate Contract | Virginia Electric and Power Company
Derivatives Fair Value [Line Items]
Derivative Assets Current Including Held for Sale		0		0
Derivative Asset, Noncurrent		0		0
Derivative Liability Current Including Held for Sale		0		0
Derivative Liabilities, Noncurrent		0		0
Fair Value - Derivatives not under Hedge Accounting | Foreign currency exchange rate
Derivatives Fair Value [Line Items]
Derivative Liability Current Including Held for Sale		9		8
Derivative Liabilities, Noncurrent		50		93
Fair Value - Derivatives not under Hedge Accounting | Foreign currency exchange rate | Virginia Electric and Power Company
Derivatives Fair Value [Line Items]
Derivative Liability Current Including Held for Sale		9		8
Derivative Liabilities, Noncurrent		$ 50		$ 93

[1] Includes $2 million and $118 million recorded in current assets held for sale in Dominion Energy's Consolidated Balance Sheets at June 30, 2023 and December 31, 2022, respectively.

[2] Noncurrent derivative assets are presented in other deferred charges and other assets in the Companies’ Consolidated Balance Sheets, with the exception of $1 million recorded in noncurrent assets held for sale in Dominion Energy's Consolidated Balance Sheets at December 31, 2022.

[3] Includes $13 million and $6 million recorded in current liabilities held for sale in Dominion Energy's Consolidated Balance Sheets at June 30, 2023 and December 31, 2022, respectively.

[4] Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in the Companies' Consolidated Balance Sheets, with the exception of $1 million recorded in noncurrent liabilities held for sale in Dominion Energy's Consolidated Balance Sheets at both June 30, 2023 and December 31, 2022.

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Derivatives and Hedge Accounting Activities - (Fair Value of Derivatives) (Parenthetical) (Details) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Derivatives Fair Value [Line Items]
Derivative Asset, Current		$ 258	$ 1,019	[1]
Derivative Asset, Noncurrent	[2]	995	1,039
Derivative Liabilities, Current		319	772	[3]
Derivative Liabilities, Noncurrent	[4]	462	626
Current Assets Held for Sale
Derivatives Fair Value [Line Items]
Derivative Asset, Current		$ 2	$ 118
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]		Derivative Asset, Current	Derivative Asset, Current
Noncurrent Liabilities Held for Sale
Derivatives Fair Value [Line Items]
Derivative Liabilities, Noncurrent		$ 1	$ 1
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent	Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent
Current Liabilities Held for Sale
Derivatives Fair Value [Line Items]
Derivative Liabilities, Current		$ 13	$ 6
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]		Current liabilities	Current liabilities
Non-Current Assets Held For Sale
Derivatives Fair Value [Line Items]
Derivative Asset, Noncurrent			$ 1
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]			Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent

[1] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[2] Noncurrent derivative assets are presented in other deferred charges and other assets in the Companies’ Consolidated Balance Sheets, with the exception of $1 million recorded in noncurrent assets held for sale in Dominion Energy's Consolidated Balance Sheets at December 31, 2022.

[3] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[4] Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in the Companies' Consolidated Balance Sheets, with the exception of $1 million recorded in noncurrent liabilities held for sale in Dominion Energy's Consolidated Balance Sheets at both June 30, 2023 and December 31, 2022.

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Derivatives and Hedge Accounting Activities (Gains and Losses on Derivatives in Cash Flow Hedging Relationships) (Detail) - Cash Flow Hedges - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	[1]	$ 8	$ 39	$ (4)	$ 72
Amount of Gain (Loss) Reclassified From AOCI to Income		(10)	(14)	(21)	(28)
Increase (Decrease) in Derivatives Subject to Regulatory Treatment	[2]	88	354	(32)	633
Virginia Electric and Power Company
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	[1]	8	33	(4)	59
Amount of Gain (Loss) Reclassified From AOCI to Income		0	0	0	(1)
Increase (Decrease) in Derivatives Subject to Regulatory Treatment	[2]	88	353	(32)	632
Interest Rate Contract
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	[1],[3]	8	39	(4)	72
Amount of Gain (Loss) Reclassified From AOCI to Income	[3]	(10)	(14)	(21)	(28)
Increase (Decrease) in Derivatives Subject to Regulatory Treatment	[2],[3]	88	354	(32)	633
Interest Rate Contract | Virginia Electric and Power Company
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	[1],[3]	8	33	(4)	59
Amount of Gain (Loss) Reclassified From AOCI to Income	[3]	0	0	0	(1)
Increase (Decrease) in Derivatives Subject to Regulatory Treatment	[2],[3]	$ 88	$ 353	$ (32)	$ 632

[1] Amounts deferred into AOCI have no associated effect in the Companies' Consolidated Statements of Income.

[2] Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in the Companies' Consolidated Statements of Income.

[3] Amounts recorded in the Companies' Consolidated Statement of Income are classified in interest and related charges.

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Derivatives and Hedge Accounting Activities (Schedule of Derivatives not Designated as Hedging Instruments) (Detail) - Derivatives Not Designated as Hedging Instruments - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	$ 34	$ 208	$ 376	$ 135
Virginia Electric and Power Company
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	(61)	37	(98)	53
Commodity Contract | Operating Revenue
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	26	(272)	421	(602)
Commodity Contract | Operating Revenue | Virginia Electric and Power Company
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	10	(88)	19	(129)
Commodity Contract | Purchased Gas
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	0	3	0	4
Commodity Contract | Electric Fuel and Other Energy-Related Purchases
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	(73)	137	(118)	196
Commodity Contract | Electric Fuel and Other Energy-Related Purchases | Virginia Electric and Power Company
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	(73)	125	(119)	182
Commodity Contract | Operation and maintenance
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	2	0	2	0
Commodity Contract | Operation and maintenance | Virginia Electric and Power Company
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	2	0	2	0
Commodity Contract | Discontinued operations
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	0	0	94	1
Interest Rate Contract | Interest And Related Charges
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	29	273	(47)	368
Interest Rate Contract | Discontinued operations
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	$ 50	$ 67	$ 24	$ 168

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Investments (Narrative) (Detail) - USD ($) $ in Millions		1 Months Ended			3 Months Ended				6 Months Ended
		Jul. 31, 2023	May 31, 2022	Mar. 31, 2022	Jun. 30, 2023	Aug. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Equity earnings from investments									$ 3	$ 16
Net Income (Loss) from discontinued operations including noncontrolling interest	[1]				$ 168		$ 212		449	623
Distributions received from investment									185	167
Equity method affiliates includes cash and accrued amounts of contributions									48	90
Equity method investment goodwill					9				9			$ 9
Liabilities from abandonment of project					711				711			1,398	[2]
Contributions to equity method affiliates									48	31
364-day term loan facility borrowings									2,500
Income tax expense (benefit) from discontinued operations					38		32		94	132
Noncurrent Assets Held for Sale					19,040				19,040			18,802	[3]
2019 Series A Corporate Units
Schedule of Equity Method Investments [Line Items]
Short-term deposit			$ 2,000
Cove Point
Schedule of Equity Method Investments [Line Items]
Noncurrent Assets Held for Sale					$ 2,700				$ 2,700			2,700
Wrangler Retail Gas Holdings LLC | Gas Supply, Inc.
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage of limited partner interests								15.00%
Cash consideration from sale of noncontrolling interest								$ 85
Amount of gain from sale								11
Amount of gain from sale, after tax								8
Dominion Energy Virginia
Schedule of Equity Method Investments [Line Items]
Cash consideration from sale of noncontrolling interest				$ 120
Amount of gain from sale								23
Amount of gain from sale, after tax								16
Limited partnership interest sale transaction, proceeds received				$ 60				$ 60
Percentage ownership in total units				50.00%	50.00%			50.00%	50.00%
Initial fair value				$ 60				$ 60
Atlantic Coast Pipeline
Schedule of Equity Method Investments [Line Items]
Contributions to equity method affiliates									$ 41	0
Atlantic Coast Pipeline | Other Current Liabilities
Schedule of Equity Method Investments [Line Items]
Liabilities from abandonment of project					$ 52				52			$ 114
Cove Point and Atlantic Coast Pipeline
Schedule of Equity Method Investments [Line Items]
Net Income (Loss) from discontinued operations including noncontrolling interest									184	143
Cove Point
Schedule of Equity Method Investments [Line Items]
Distributions received from investment					95		85		$ 178	161
Transportation and storage services agreement period									20 years
Income tax expense (benefit) from discontinued operations					21		26		$ 24	61
Discontinued operations, interest expense									51
Discontinued operations, interest income					(11)		(49)			(140)
Cove Point | Discontinued operations
Schedule of Equity Method Investments [Line Items]
Equity earnings from investments					$ 90		$ 74		$ 166	$ 147
Cove Point | Cove Point | GT&S Transaction
Schedule of Equity Method Investments [Line Items]
Percentage of noncontrolling limited partnership interest retained					50.00%				50.00%			50.00%
Cove Point | BHE
Schedule of Equity Method Investments [Line Items]
Credit facility, outstanding amount		$ 750
364-day term loan facility borrowings		$ 600
Cove Point | BHE | Discontinued Operations, Held for Sale
Schedule of Equity Method Investments [Line Items]
Percentage of equity interests sold											50.00%
Cove Point | BHE | GT&S Transaction
Schedule of Equity Method Investments [Line Items]
Percentage of noncontrolling limited partnership interest retained		50.00%
Cash consideration from sale of noncontrolling interest		$ 3,300
Proceeds from settlement of related interest rate derivatives		199
Credit facility, outstanding amount					$ 2,200				$ 2,200
Gain on sale of noncontrolling interest		626
Gain on sale of noncontrolling interest after tax		$ 348
Finite Lived Equity Method Investment Basis Difference
Schedule of Equity Method Investments [Line Items]
Carrying amount of investment that exceeded share of underlying equity					221				221			$ 223
Equity method investment goodwill												(1)
Finite Lived Equity Method Investment Basis Difference | Cove Point
Schedule of Equity Method Investments [Line Items]
Equity method investment goodwill					212				212			215
Trading Securities
Schedule of Equity Method Investments [Line Items]
Rabbi trust securities					$ 113				$ 113			$ 111
Minimum | 2019 Series A Corporate Units
Schedule of Equity Method Investments [Line Items]
Short-term deposit			1,600
Maximum | 2019 Series A Corporate Units
Schedule of Equity Method Investments [Line Items]
Short-term deposit			2,000
Series A Preferred Stock | 2019 Series A Corporate Units
Schedule of Equity Method Investments [Line Items]
Redemption obligation			$ 1,600
Preferred stock dividend rate percentage			1.75%			1.75%

[1] Includes income tax expense (benefit) of $38 million and $32 million for the three months ended June 30, 2023 and 2022, respectively, and $94 million and $132 million for the six months ended June 30, 2023 and 2022, respectively.

[2] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[3] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

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Investments (Equity and Fixed Income Securities, Insurance Contracts and Cash Equivalents in Decommissioning Trust Funds) (Detail) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Jun. 30, 2023	Dec. 31, 2022
Summary of Investment Holdings [Line Items]
Fixed income securities Fair Value		$ 1,890
Amortized Cost, Total		3,666	$ 3,632
Total Unrealized Gains		3,005	2,506
Total Unrealized Losses	[1]	(118)	(181)
Allowance for Credit Losses, Total		0	0
Fair Value, Total		6,553	5,957	[2]
Net assets related to pending sales of securities		24	42
Fair value of securities in an unrealized loss position		1,500	1,600
Cash Equivalents and Other
Summary of Investment Holdings [Line Items]
Cash equivalents and other, Amortized Cost	[3]	53	43
Cash equivalents and other, Total Unrealized Gains	[3]	0	0
Cash equivalents and other, Total Unrealized Losses	[3]	0	0
Cash equivalents and other, Allowance for Credit Losses	[3]	0	0
Cash equivalents and other, Fair Value	[3]	53	43
U.S.
Summary of Investment Holdings [Line Items]
Equity securities Amortized Cost	[4]	1,397	1,378
Equity securities Total Unrealized Gains	[4]	2,999	2,501
Equity securities Total Unrealized Losses	[4]	(22)	(46)
Equity securities Fair Value	[4]	4,374	3,833
Corporate Debt Fixed Income Securities
Summary of Investment Holdings [Line Items]
Fixed income securities Amortized Cost, Total	[5]	577	640
Fixed income securities Fair Value	[5]	531	576
Fixed income securities Total Unrealized Gains	[5]	1	1
Fixed income securities Total Unrealized Losses	[5]	(47)	(65)
Fixed income securities Allowance for Credit Losses	[5]	0	0
Government Debt Fixed Income Securities
Summary of Investment Holdings [Line Items]
Fixed income securities Amortized Cost, Total	[5]	1,332	1,252
Fixed income securities Fair Value	[5]	1,288	1,186
Fixed income securities Total Unrealized Gains	[5]	5	4
Fixed income securities Total Unrealized Losses	[5]	(49)	(70)
Fixed income securities Allowance for Credit Losses	[5]	0	0
Insurance Contracts
Summary of Investment Holdings [Line Items]
Fixed income securities Amortized Cost, Total		236	221
Fixed income securities Fair Value		236	221
Fixed income securities Total Unrealized Gains		0	0
Fixed income securities Total Unrealized Losses		0	0
Fixed Income | Common/collective trust funds
Summary of Investment Holdings [Line Items]
Fixed income securities Amortized Cost, Total	[5]	71	98
Fixed income securities Fair Value	[5]	71	98
Fixed income securities Total Unrealized Gains	[5]	0	0
Fixed income securities Total Unrealized Losses	[5]	0	0
Fixed income securities Allowance for Credit Losses	[5]	0	0
Virginia Electric and Power Company
Summary of Investment Holdings [Line Items]
Fixed income securities Fair Value		1,086
Amortized Cost, Total		2,022	2,012
Total Unrealized Gains		1,566	1,307
Total Unrealized Losses	[1]	(80)	(117)
Allowance for Credit Losses, Total		0	0
Fair Value, Total		3,508	3,202	[6]
Net assets related to pending sales of securities		9	24
Fair value of securities in an unrealized loss position		844	946
Virginia Electric and Power Company | Cash Equivalents and Other
Summary of Investment Holdings [Line Items]
Cash equivalents and other, Amortized Cost	[3]	9	23
Cash equivalents and other, Total Unrealized Gains	[3]	0	0
Cash equivalents and other, Total Unrealized Losses	[3]	0	0
Cash equivalents and other, Allowance for Credit Losses	[3]	0	0
Cash equivalents and other, Fair Value	[3]	9	23
Virginia Electric and Power Company | U.S.
Summary of Investment Holdings [Line Items]
Equity securities Amortized Cost	[4]	872	858
Equity securities Total Unrealized Gains	[4]	1,562	1,304
Equity securities Total Unrealized Losses	[4]	(21)	(35)
Equity securities Fair Value	[4]	2,413	2,127
Virginia Electric and Power Company | Corporate Debt Fixed Income Securities
Summary of Investment Holdings [Line Items]
Fixed income securities Amortized Cost, Total	[5]	356	406
Fixed income securities Fair Value	[5]	323	360
Fixed income securities Total Unrealized Gains	[5]	1	1
Fixed income securities Total Unrealized Losses	[5]	(34)	(47)
Fixed income securities Allowance for Credit Losses	[5]	0	0
Virginia Electric and Power Company | Government Debt Fixed Income Securities
Summary of Investment Holdings [Line Items]
Fixed income securities Amortized Cost, Total	[5]	731	664
Fixed income securities Fair Value	[5]	709	631
Fixed income securities Total Unrealized Gains	[5]	3	2
Fixed income securities Total Unrealized Losses	[5]	(25)	(35)
Fixed income securities Allowance for Credit Losses	[5]	0	0
Virginia Electric and Power Company | Fixed Income | Common/collective trust funds
Summary of Investment Holdings [Line Items]
Fixed income securities Amortized Cost, Total	[5]	54	61
Fixed income securities Fair Value	[5]	54	61
Fixed income securities Total Unrealized Gains	[5]	0	0
Fixed income securities Total Unrealized Losses	[5]	0	0
Fixed income securities Allowance for Credit Losses	[5]	$ 0	$ 0

[1] Dominion Energy's fair value of securities in an unrealized loss position was $1.5 billion and $1.6 billion at June 30, 2023 and December 31, 2022, respectively. Virginia Power's fair value of securities in an unrealized loss position was $844 million and $946 million at June 30, 2023 and December 31, 2022, respectively.

[2] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[3] Dominion Energy includes pending sales of securities of $24 million and $42 million at June 30, 2023 and December 31, 2022, respectively. Virginia Power includes pending sales of securities of $9 million and $24 million at June 30, 2023, and December 31, 2022, respectively.

[4] Unrealized gains and losses on equity securities are included in other income (expense) and the nuclear decommissioning trust regulatory liability.

[5] Unrealized gains and losses on fixed income securities are included in AOCI and the nuclear decommissioning trust regulatory liability. Changes in allowance for credit losses are included in other income (expense).

[6] Virginia Power’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date.

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Investments (Portion of Unrealized Gains and Losses Relates to Equity Securities) (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Summary of Investment Holdings [Line Items]
Net gains (losses) recognized during the period		$ 294	$ (712)	$ 520	$ (918)
Less: Net (gains) losses recognized during the period on securities sold during the period		1	6	3	5
Unrealized gains (losses) recognized during the period on securities still held at period end	[1]	295	(706)	523	(913)
Virginia Electric and Power Company
Summary of Investment Holdings [Line Items]
Net gains (losses) recognized during the period		153	(361)	269	(463)
Less: Net (gains) losses recognized during the period on securities sold during the period		2	0	3	(4)
Unrealized gains (losses) recognized during the period on securities still held at period end	[1]	$ 155	$ (361)	$ 272	$ (467)

[1] Included in other income (expense) and the nuclear decommissioning trust regulatory liability.

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Investments (Fair Value of Fixed Income Securities by Contractual Maturity) (Detail) $ in Millions	Jun. 30, 2023 USD ($)
Schedule of Held-to-maturity Securities [Line Items]
Due in one year or less	$ 91
Due after one year through five years	482
Due after five years through ten years	422
Due after ten years	895
Total	1,890
Virginia Electric and Power Company
Schedule of Held-to-maturity Securities [Line Items]
Due in one year or less	59
Due after one year through five years	260
Due after five years through ten years	248
Due after ten years	519
Total	$ 1,086

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Investments (Selected Information Regarding Equity and Fixed Income Securities) (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Available-for-sale Securities [Line Items]
Proceeds from sales		$ 594	$ 1,267	$ 1,138	$ 2,081
Realized gains	[1]	22	75	43	115
Realized losses	[1]	36	143	77	197
Virginia Electric and Power Company
Schedule of Available-for-sale Securities [Line Items]
Proceeds from sales		346	472	719	864
Realized gains	[1]	8	10	25	26
Realized losses	[1]	$ 14	$ 33	$ 45	$ 52

[1] Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.

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Property, Plant and Equipment (Narrative) (Detail) $ in Millions	1 Months Ended	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) MW	Jun. 30, 2022 USD ($)
Property Plant And Equipment [Line Items]
Project Cost		$ 12	$ 121
Acquisition of Solar Project Foxhound Virginia
Property Plant And Equipment [Line Items]
Date Agreement Entered		2023-03
Date Agreement Closed		Excepted 2024
Project Cost		$ 205
Date of Commercial Operations		Excepted 2024
MW Capacity | MW		83
Utility Property
Property Plant And Equipment [Line Items]
Sale of utility property	$ 16
Gain on sale of asset	16
Gain on sale of asset after tax	$ 12

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Regulatory Assets and Liabilities (Schedule of Regulatory Assets) (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Regulatory Assets [Line Items]
Regulatory assets-current		$ 1,294		$ 1,294		$ 1,883	[1]
Regulatory assets-noncurrent		8,065		8,065		8,265	[1]
Total regulatory assets		9,359		9,359		10,148
Virginia Electric and Power Company
Regulatory Assets [Line Items]
Regulatory assets-current		627		627		1,140	[2]
Regulatory assets-noncurrent		4,151		4,151		4,247	[2]
Total regulatory assets		4,778		4,778		5,387
Impairment of assets and other charges		38	$ 409	$ 45	$ 413
Weighted Average
Regulatory Assets [Line Items]
Weighted average useful life				25 years
Weighted Average | Virginia Electric and Power Company
Regulatory Assets [Line Items]
Weighted average useful life				24 years
SCANA
Regulatory Assets [Line Items]
Electric service customers over period				20 years
Deferred cost of fuel used in electric generation
Regulatory Assets [Line Items]
Regulatory assets-current	[3]	401		$ 401		603
Regulatory assets-noncurrent	[3]	1,310		1,310		1,551
Deferred cost of fuel used in electric generation | Virginia Electric and Power Company
Regulatory Assets [Line Items]
Regulatory assets-current	[3]	50		50		133
Regulatory assets-noncurrent	[3]	1,310		1,310		1,551
Deferred rider costs for Virginia electric utility
Regulatory Assets [Line Items]
Regulatory assets-current	[4]	57		57		152
Regulatory assets-noncurrent	[4]	610		610		363
Deferred rider costs for Virginia electric utility | Virginia Electric and Power Company
Regulatory Assets [Line Items]
Regulatory assets-current	[4]	57		57		152
Regulatory assets-noncurrent	[4]	610		610		363
Impairment of assets and other charges				36
Impairment of assets and other charges after tax				27
Ash pond and landfill closure costs
Regulatory Assets [Line Items]
Regulatory assets-current	[5]	181		181		221
Regulatory assets-noncurrent	[5]	2,024		$ 2,024		2,051
Regulatory assets expected collection period commencing year				2021
Ash pond and landfill closure costs | Virginia Electric and Power Company
Regulatory Assets [Line Items]
Regulatory assets-current	[5]	181		$ 181		221
Regulatory assets-noncurrent	[5]	2,021		$ 2,021		2,049
Ash pond and landfill closure costs | Maximum
Regulatory Assets [Line Items]
Regulatory assets amounts expected collection period				18 years
Ash pond and landfill closure costs | Minimum
Regulatory Assets [Line Items]
Regulatory assets amounts expected collection period				15 years
Deferred nuclear refueling outage costs
Regulatory Assets [Line Items]
Regulatory assets-current	[6]	84		$ 84		83
Deferred nuclear refueling outage costs | Virginia Electric and Power Company
Regulatory Assets [Line Items]
Regulatory assets-current	[6]	82		82		83
NND Project Costs
Regulatory Assets [Line Items]
Regulatory assets-current	[7]	138		138		138
Regulatory assets-noncurrent	[7]	2,018		2,018		2,088
Deferred early plant retirement charges
Regulatory Assets [Line Items]
Regulatory assets-current	[8]	113		113		226
Deferred early plant retirement charges | Virginia Electric and Power Company
Regulatory Assets [Line Items]
Regulatory assets-current	[8]	113		113		226
Derivatives
Regulatory Assets [Line Items]
Regulatory assets-current	[9]	84		84		256
Regulatory assets-noncurrent	[9]	183		183		254
Derivatives | Virginia Electric and Power Company
Regulatory Assets [Line Items]
Regulatory assets-current	[9]	81		81		251
Regulatory assets-noncurrent	[9]	79		79		148
Other
Regulatory Assets [Line Items]
Regulatory assets-current		236		236		204
Regulatory assets-noncurrent		494		494		518
Other | Virginia Electric and Power Company
Regulatory Assets [Line Items]
Regulatory assets-current		63		63		74
Regulatory assets-noncurrent		131		131		132
Unrecognized Pension and Other Postretirement Benefit Costs
Regulatory Assets [Line Items]
Regulatory assets-noncurrent	[10]	873		873		891
Unrecognized Pension and Other Postretirement Benefit Costs | Virginia Electric and Power Company
Regulatory Assets [Line Items]
Regulatory assets-noncurrent	[10]	0		0		4
Pension and Other Postretirement Benefit Plan Assets and Obligations | East Ohio, PSNC and Questar Gas Transactions [Member]
Regulatory Assets [Line Items]
Total regulatory assets		314		314		302
Interest rate hedges
Regulatory Assets [Line Items]
Regulatory assets-noncurrent	[11]	169		169		169
Interest rate hedges | Virginia Electric and Power Company
Regulatory Assets [Line Items]
Regulatory assets-noncurrent		0		0		0
AROs and related funding
Regulatory Assets [Line Items]
Regulatory assets-noncurrent	[12]	$ 384		$ 384		$ 380
Amortization period for deferred costs		105 years		105 years
Deferred Project Costs | Maximum
Regulatory Assets [Line Items]
Amortization period for deferred costs		18 months		18 months

[1] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[2] Virginia Power’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date.

[3] Reflects deferred fuel expenses for the Virginia and North Carolina jurisdictions of Virginia Power's electric generation operations and additionally for Dominion Energy, deferred fuel expenses for the South Carolina jurisdiction of its electric generation operations.

[4] Reflects deferrals under Virginia Power’s electric transmission FERC formula rate and the deferral of costs associated with certain current and prospective rider projects. In the second quarter of 2023, Virginia Power recorded a charge of $36 million ($27 million after-tax), included in impairment of assets and other charges in its Consolidated Statements of Income, for the write-off of certain previously deferred amounts related to Riders R, S and W in connection with the cessation of such riders effective July 2023. See Note 13 for additional information.

[5] Primarily reflects legislation in Virginia which requires any CCR asset located at certain Virginia Power stations to be closed by removing the CCR to an approved landfill or through beneficial reuse. These deferred costs are expected to be collected over a period between 15 and 18 years commencing December 2021 through Rider CCR. Virginia Power is entitled to collect carrying costs on uncollected expenditures once expenditures have been made.

[6] Legislation in Virginia requires Virginia Power to defer operation and maintenance costs incurred in connection with the refueling of any nuclear-powered generating plant. These deferred costs will be amortized over the refueling cycle, not to exceed 18 months.

[7] Reflects expenditures by DESC associated with the NND Project, which pursuant to the SCANA Merger Approval Order, will be recovered from DESC electric service customers over a 20-year period ending in 2039.

[8] Reflects amounts from the early retirements of certain coal- and oil-fired generating units to be amortized through 2023 in accordance with the settlement of the 2021 Triennial Review. See Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 for additional information.

[9] Represents changes in the fair value of derivatives, excluding separately presented interest rate hedges, that following settlement are expected to be recovered from or refunded to customers.

[10] Represents unrecognized pension and other postretirement employee benefit costs expected to be recovered or refunded through future rates generally over the expected remaining service period of plan participants by certain of Dominion Energy's rate-regulated subsidiaries. Includes $314 million and $302 million of regulatory assets in aggregate at June 30, 2023 and December 31, 2022, respectively, related to retained pension and other postretirement benefit plan assets and obligations for the East Ohio, PSNC and Questar Gas Transactions which will be reclassified to AOCI upon closing of each transaction.

[11] Reflects interest rate hedges recoverable from or refundable to customers. Certain of these instruments are settled and any related payments are being amortized into interest expense over the life of the related debt, which has a weighted-average useful life of approximately 25 years and 24 years for Dominion Energy and Virginia Power, respectively, as of June 30, 2023.

[12] Represents uncollected costs, including deferred depreciation and accretion expense, related to legal obligations associated with the future retirement of generation, transmission and distribution properties. The AROs primarily relate to DESC’s electric generating facilities, including Summer, and are expected to be recovered over the related property lives and periods of decommissioning which may range up to approximately 105 years.

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Regulatory Assets and Liabilities (Schedule of Regulatory Liabilities) (Detail) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2023	Dec. 31, 2022
Regulatory Liabilities [Line Items]
Regulatory liabilities-current		$ 437	$ 748	[1]
Regulatory liabilities-noncurrent		8,576	8,417	[1]
Total regulatory liabilities		9,013	9,165
Virginia Electric and Power Company
Regulatory Liabilities [Line Items]
Regulatory liabilities-current		231	506	[2]
Regulatory liabilities-noncurrent		5,799	5,499	[2]
Total regulatory liabilities		$ 6,030	6,005
SCANA
Regulatory Liabilities [Line Items]
Estimation period of collection to be credited		11 years
Electric service customers over period		20 years
Provision for future cost of removal and AROs
Regulatory Liabilities [Line Items]
Regulatory liabilities-current	[3]	$ 111	111
Regulatory liabilities-noncurrent	[3]	1,771	1,731
Provision for future cost of removal and AROs | Virginia Electric and Power Company
Regulatory Liabilities [Line Items]
Regulatory liabilities-current	[3]	111	111
Regulatory liabilities-noncurrent	[3]	1,164	1,135
Reserve for refunds and rate credits to electric utility customers
Regulatory Liabilities [Line Items]
Regulatory liabilities-current	[4]	102	125
Regulatory liabilities-noncurrent	[4]	274	325
Reserve for refunds and rate credits to electric utility customers | Virginia Electric and Power Company
Regulatory Liabilities [Line Items]
Regulatory liabilities-current	[4]	10	25
Regulatory liabilities-noncurrent	[4]	0	0
Income taxes refundable through future rates
Regulatory Liabilities [Line Items]
Regulatory liabilities-current	[5]	99	100
Regulatory liabilities-noncurrent	[5]	3,126	3,169
Income taxes refundable through future rates | Virginia Electric and Power Company
Regulatory Liabilities [Line Items]
Regulatory liabilities-current	[5]	65	65
Regulatory liabilities-noncurrent	[5]	2,243	2,272
Monetization of guarantee settlement
Regulatory Liabilities [Line Items]
Regulatory liabilities-current	[6]	67	67
Regulatory liabilities-noncurrent	[6]	$ 669	702
Electric service customers over period		20 years
Derivatives
Regulatory Liabilities [Line Items]
Regulatory liabilities-current	[7]	$ 12	211
Regulatory liabilities-noncurrent	[7]	189	234
Derivatives | Virginia Electric and Power Company
Regulatory Liabilities [Line Items]
Regulatory liabilities-current	[7]	0	176
Regulatory liabilities-noncurrent	[7]	0	0
Other
Regulatory Liabilities [Line Items]
Regulatory liabilities-current		46	134
Regulatory liabilities-noncurrent		263	191
Other | Virginia Electric and Power Company
Regulatory Liabilities [Line Items]
Regulatory liabilities-current		45	129
Regulatory liabilities-noncurrent		260	167
Nuclear decommissioning trust
Regulatory Liabilities [Line Items]
Regulatory liabilities-noncurrent	[8]	1,936	1,685
Nuclear decommissioning trust | Virginia Electric and Power Company
Regulatory Liabilities [Line Items]
Regulatory liabilities-noncurrent	[8]	1,936	1,685
Interest rate hedges
Regulatory Liabilities [Line Items]
Regulatory liabilities-noncurrent	[9]	196	240
Interest rate hedges | Virginia Electric and Power Company
Regulatory Liabilities [Line Items]
Regulatory liabilities-noncurrent	[9]	196	240
Overrecovered Other Postretirement Benefit Costs
Regulatory Liabilities [Line Items]
Regulatory liabilities-noncurrent	[10]	$ 152	$ 140

[1] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[2] Virginia Power’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date.

[3] Rates charged to customers by Dominion Energy and Virginia Power's regulated businesses include a provision for the cost of future activities to remove assets that are expected to be incurred at the time of retirement.

[4] Reflects amounts previously collected from retail electric customers of DESC for the NND Project to be credited over an estimated 11-year period effective February 2019, in connection with the SCANA Merger Approval Order. Also reflects amounts to be refunded to jurisdictional retail electric customers in Virginia associated with the settlement of the 2021 Triennial Review. See Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2022 for additional information.

[5] Amounts recorded to pass the effect of reduced income taxes from the 2017 Tax Reform Act to customers in future periods, which will primarily reverse at the weighted average tax rate that was used to build the reserves over the remaining book life of the property, net of amounts to be recovered through future rates to pay income taxes that become payable when rate revenue is provided to recover AFUDC equity.

[6] Reflects amounts to be refunded to DESC electric service customers over a 20-year period ending in 2039 associated with the monetization of a bankruptcy settlement agreement.

[7] Represents changes in the fair value of derivatives, excluding separately presented interest rate hedges, that following settlement are expected to be recovered from or refunded to customers.

[8] Primarily reflects a regulatory liability representing amounts collected from Virginia jurisdictional customers and placed in external trusts (including income, losses and changes in fair value thereon, as applicable) for the future decommissioning of Virginia Power's utility nuclear generation stations, in excess of the related AROs.

[9] Reflects interest rate hedges recoverable from or refundable to customers. Certain of these instruments are settled and any related payments are being amortized into interest expense over the life of the related debt, which has a weighted-average useful life of approximately 25 years and 24 years for Dominion Energy and Virginia Power, respectively, as of June 30, 2023.

[10] Reflects a regulatory liability for the collection of postretirement benefit costs allowed in rates in excess of expense incurred.

XML

Regulatory Assets and Liabilities (Narrative) (Detail) $ in Billions	Jun. 30, 2023 USD ($)
Public Utilities General Disclosures [Line Items]
Regulatory assets not expect to earn return	$ 4.4
Period for which expenditures are expected to be recovered	2 years
Virginia Electric and Power Company
Public Utilities General Disclosures [Line Items]
Regulatory assets not expect to earn return	$ 2.7
Period for which expenditures are expected to be recovered	2 years

XML

Regulatory Matters (Narrative) (Detail) shares in Millions, $ in Millions	1 Months Ended										3 Months Ended			6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2023 USD ($) shares	May 31, 2023 USD ($)	Apr. 30, 2023 USD ($)	Mar. 31, 2023 USD ($) mi kV	Feb. 28, 2023 USD ($)	Jan. 31, 2023 USD ($)	Oct. 31, 2022 USD ($) MW	Jun. 30, 2022 USD ($)	May 31, 2022 USD ($)	Mar. 31, 2022	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) Project	Jun. 30, 2022 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2022 USD ($)		Dec. 31, 2011	Dec. 31, 2008
Public Utilities General Disclosures [Line Items]
Regulatory liabilities											$ 437			$ 437			$ 748	[1]
Generation And Distribution Services
Public Utilities General Disclosures [Line Items]
Authorized return percentage	9.70%
Virginia Regulation
Public Utilities General Disclosures [Line Items]
Percentage of earned return	9.04%
Authorized return percentage	9.35%
North Carolina Regulation | Public Service Company Of North Carolina
Public Utilities General Disclosures [Line Items]
Application date				2023-03
North Carolina Regulation | Public Service Company Of North Carolina | Rider D
Public Utilities General Disclosures [Line Items]
Increase(Decrease) in gas cost					$ (56)
Approval date					2023-03
North Carolina Regulation | Public Service Company Of North Carolina | Rider DSM
Public Utilities General Disclosures [Line Items]
Increase (Decrease) in customer usage tracker				$ 23
Ohio Regulation | PIR Program
Public Utilities General Disclosures [Line Items]
Application date														2023-02
Percentage of pipeline system replaced																				25.00%
Increases of annual capital expenditures percentage			3.00%
Total gross plant investment estimated cost																	225
Proposed revenue requirement																	305
Cumulative gross plant investment estimated cost																	2,400
Ohio Regulation | CEP Program
Public Utilities General Disclosures [Line Items]
Application date														2023-03
Total gross plant investment estimated cost																	195
Proposed revenue requirement																	1,300
Cumulative gross plant investment estimated cost																	151
Percentage of debt rate on capital investments																			6.50%
Ohio Regulation | UEX Rider
Public Utilities General Disclosures [Line Items]
Actual revenue requirement														$ 23
Public utilities, under-recovered accumulated bad debt expense												$ 9
Ohio Regulation | UEX Rider | Forecast
Public Utilities General Disclosures [Line Items]
Recovery of bad debt expense																$ 14
Virginia Electric and Power Company
Public Utilities General Disclosures [Line Items]
Regulatory liabilities											231			231			$ 506	[2]
Authorized but unissued shares of common stock | shares	3,250
Impairment of assets and other charges											38		$ 409	45	$ 413
Virginia Electric and Power Company | Annual Fuel Factor
Public Utilities General Disclosures [Line Items]
Increase (decrease) in revenue requirement		$ (13)
Virginia Electric and Power Company | Impairment of Assets and Other Charges | Annual Fuel Factor
Public Utilities General Disclosures [Line Items]
Impairment of assets and other charges													191
Virginia Electric and Power Company | Impairment of Assets and Other Charges | Rider RGGI
Public Utilities General Disclosures [Line Items]
Impairment of assets and other charges													180
Virginia Electric and Power Company | Utility Scale Solar
Public Utilities General Disclosures [Line Items]
Proposed cost of project							$ 1,200
Targeted capacity provided by legislation | MW							474
Virginia Electric and Power Company | Energy Storage
Public Utilities General Disclosures [Line Items]
Targeted capacity provided by legislation | MW							16
Virginia Electric and Power Company | Electric Distribution Grid Transformation Projects
Public Utilities General Disclosures [Line Items]
Proposed cost of project											$ 1,100			1,100
Proposed operations and maintenance investment														$ 71
Number of electric distribution grid transformation projects | Project														14
Number of electric distribution grid transformation projects components | Project														6
Virginia Electric and Power Company | Virginia Regulation
Public Utilities General Disclosures [Line Items]
Rate year beginning		2023-07
Authorized return percentage	9.70%		9.70%
Authorized return percentage credited to customers bills			100.00%
Capitalization ratio	52.10%		52.10%
Estimated under-recovered balances														$ 1,300
Virginia Electric and Power Company | Virginia Regulation | Base Rate Case
Public Utilities General Disclosures [Line Items]
Total revenue requirement	$ 350	$ 351	$ 350
Virginia Electric and Power Company | Virginia Regulation | Annual Fuel Factor
Public Utilities General Disclosures [Line Items]
Total revenue requirement		$ 2,300							$ 2,300
Rate year beginning		2023-07							2022-07
Increase (decrease) in revenue requirement		$ 631												$ (541)
Fuel cost requirement		3,300
Estimated under-recovered balances		$ 1,300						$ 1,000							$ 578
Impairment of assets and other charges after tax													142
Public utilities collection of requested under-recovered projected fuel expense period															3 years
Virginia Electric and Power Company | Virginia Regulation | Rider RGGI
Public Utilities General Disclosures [Line Items]
Impairment of assets and other charges after tax													$ 134
Virginia Electric and Power Company | Biennial Review
Public Utilities General Disclosures [Line Items]
Authorized return percentage	0.70%		9.35%
Credited to customers bills percentage			85.00%
Authorized return percentage credited to customers bills			1.50%
Virginia Electric and Power Company | Triennial Review
Public Utilities General Disclosures [Line Items]
Authorized return percentage			0.70%
Credited to customers bills percentage			85.00%
Dominion Energy South Carolina Inc | South Carolina Regulation | Electric Other
Public Utilities General Disclosures [Line Items]
Increase (decrease) in revenue requirement					$ 24
Dominion Energy South Carolina Inc | South Carolina Regulation | Rider DSM
Public Utilities General Disclosures [Line Items]
Approval request to recover costs and net lost revenues amount						$ 46
Dominion Energy South Carolina Inc | South Carolina Regulation | Cost Of Fuel
Public Utilities General Disclosures [Line Items]
Increase (decrease) in annual base fuel component recoveries			$ 176	$ 121
Dominion Energy South Carolina Inc | South Carolina Regulation | Electric Transmission Project
Public Utilities General Disclosures [Line Items]
Application date				2023-03
Type of Line | kV				230
Miles of Lines | mi				19
Cost Estimate				$ 55								$ 55
Dominion Energy South Carolina Inc | South Carolina Regulation | Natural Gas Base Rate Case
Public Utilities General Disclosures [Line Items]
Increase (decrease) in revenue requirement				$ 19
Percentage of proposed earned return				10.38%
Authorized return percentage										10.25%
Questar Gas Company | Utah Regulation
Public Utilities General Disclosures [Line Items]
Increase(Decrease) in gas cost				$ 92	$ 164
Approval date					2023-02

[1] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[2] Virginia Power’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date.

XML

Regulatory Matters - Schedule of Additional Significant Riders Associated with Virginia Power Projects (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Rider RPS
Public Utilities General Disclosures [Line Items]
Application Date	2022-12
Approval Date	July 2023
Rate Year Beginning	2023-09
Total Revenue Requirement (millions)	$ 96
Increase (decrease) in revenue requirement	$ (44)
Virginia Electric and Power Company | Rider CCR
Public Utilities General Disclosures [Line Items]
Application Date	2023-02
Approval Date	Pending
Rate Year Beginning	2023-12
Total Revenue Requirement (millions)	$ 194
Increase (decrease) in revenue requirement	$ (37)
Virginia Electric and Power Company | Rider CE
Public Utilities General Disclosures [Line Items]
Application Date	2022-10	[1]
Approval Date	April 2023	[1]
Rate Year Beginning	2023-05	[1]
Total Revenue Requirement (millions)	$ 89	[1]
Increase (decrease) in revenue requirement	$ 18	[1]
Virginia Electric and Power Company | Rider GT
Public Utilities General Disclosures [Line Items]
Application Date	2022-08
Approval Date	April 2023
Rate Year Beginning	2023-06
Total Revenue Requirement (millions)	$ 14
Increase (decrease) in revenue requirement	$ (42)
Virginia Electric and Power Company | Rider G T One
Public Utilities General Disclosures [Line Items]
Application Date	2023-08
Approval Date	Pending
Rate Year Beginning	2024-06
Total Revenue Requirement (millions)	$ 145
Increase (decrease) in revenue requirement	$ 131
Virginia Electric and Power Company | Rider GV
Public Utilities General Disclosures [Line Items]
Application Date	2023-06	[2]
Approval Date	Pending	[2]
Rate Year Beginning	2024-04	[2]
Total Revenue Requirement (millions)	$ 132	[2]
Increase (decrease) in revenue requirement	$ 5	[2]
Virginia Electric and Power Company | Rider GV
Public Utilities General Disclosures [Line Items]
Application Date	2023-06	[2]
Approval Date	Pending	[2]
Rate Year Beginning	2025-04	[2]
Total Revenue Requirement (millions)	$ 135	[2]
Increase (decrease) in revenue requirement	$ 3	[2]
Virginia Electric and Power Company | Rider OSW
Public Utilities General Disclosures [Line Items]
Application Date	2022-11
Approval Date	July 2023
Rate Year Beginning	2023-09
Total Revenue Requirement (millions)	$ 271
Increase (decrease) in revenue requirement	$ 192
Virginia Electric and Power Company | Rider PPA
Public Utilities General Disclosures [Line Items]
Application Date	2022-12
Approval Date	July 2023
Rate Year Beginning	2023-09
Total Revenue Requirement (millions)	$ (22)
Increase (decrease) in revenue requirement	$ (17)
Virginia Electric and Power Company | Rider R
Public Utilities General Disclosures [Line Items]
Application Date	2021-06
Approval Date	March 2022
Rate Year Beginning	2023-04
Total Revenue Requirement (millions)	$ 55	[3]
Increase (decrease) in revenue requirement	$ (4)
Virginia Electric and Power Company | Rider RGGI
Public Utilities General Disclosures [Line Items]
Application Date	2022-12	[4]
Approval Date	July 2023	[4]
Rate Year Beginning	2023-09	[4]
Total Revenue Requirement (millions)	$ 356	[4]
Virginia Electric and Power Company | Rider S
Public Utilities General Disclosures [Line Items]
Application Date	2021-06
Approval Date	February 2022
Rate Year Beginning	2023-04
Total Revenue Requirement (millions)	$ 191	[3]
Increase (decrease) in revenue requirement	$ (1)
Virginia Electric and Power Company | Rider SNA
Public Utilities General Disclosures [Line Items]
Application Date	2022-10	[5]
Approval Date	June 2023	[5]
Rate Year Beginning	2023-09	[5]
Total Revenue Requirement (millions)	$ 50	[5]
Increase (decrease) in revenue requirement	$ (57)	[5]
Virginia Electric and Power Company | Rider T1
Public Utilities General Disclosures [Line Items]
Application Date	2023-05	[6]
Approval Date	July 2023	[6]
Rate Year Beginning	2023-09	[6]
Total Revenue Requirement (millions)	$ 879	[6]
Increase (decrease) in revenue requirement	$ 173	[6]
Virginia Electric and Power Company | Rider U
Public Utilities General Disclosures [Line Items]
Application Date	2022-06	[7]
Approval Date	February 2023	[7]
Rate Year Beginning	2023-04	[7]
Total Revenue Requirement (millions)	$ 74	[7]
Increase (decrease) in revenue requirement	$ (21)	[7]
Virginia Electric and Power Company | Rider US-3
Public Utilities General Disclosures [Line Items]
Application Date	2022-08
Approval Date	April 2023
Rate Year Beginning	2023-06
Total Revenue Requirement (millions)	$ 40
Increase (decrease) in revenue requirement	$ (10)
Virginia Electric and Power Company | Rider US-3
Public Utilities General Disclosures [Line Items]
Application Date	2023-08
Approval Date	Pending
Rate Year Beginning	2024-06
Total Revenue Requirement (millions)	$ 37
Increase (decrease) in revenue requirement	$ (3)
Virginia Electric and Power Company | Rider US-4
Public Utilities General Disclosures [Line Items]
Application Date	2022-08
Approval Date	April 2023
Rate Year Beginning	2023-06
Total Revenue Requirement (millions)	$ 16
Increase (decrease) in revenue requirement	$ 1
Virginia Electric and Power Company | Rider US-4
Public Utilities General Disclosures [Line Items]
Application Date	2023-08
Approval Date	Pending
Rate Year Beginning	2024-06
Total Revenue Requirement (millions)	$ 14
Increase (decrease) in revenue requirement	$ (2)
Virginia Electric and Power Company | Rider W
Public Utilities General Disclosures [Line Items]
Application Date	2022-06	[8]
Approval Date	February 2023	[8]
Rate Year Beginning	2023-04	[8]
Total Revenue Requirement (millions)	$ 105	[3],[8]
Increase (decrease) in revenue requirement	$ (16)	[8]

[1] Associated with solar generation and energy storage projects requested for approval in October 2022 and certain small-scale solar projects in addition to previously approved Rider CE projects.

[2] The total revenue requirement requested is based on an estimated retirement of Greensville County in 2058, consistent with the current estimated useful life of the facility. Virginia Power also provided an alternative approach based on an estimated retirement of Greensville County in 2045, which if utilized would result in a revenue requirement of $144 million and $148 million for rate years beginning April 2024 and April 2025, respectively.

[3] In May 2023, Virginia Power filed a notification with the Virginia Commission to combine Riders R, S and W, which have an aggregate revenue requirement of $351 million, into base rates effective July 2023 in accordance with legislation enacted in Virginia in April 2023.

[4] In December 2022, Virginia Power filed a petition to update and reinstate Rider RGGI to recover RGGI compliance costs incurred after July 2022 and those projected to occur through December 2023, with rate recovery from September 2023 through August 2024. For purposes of this proceeding, Virginia Power has assumed that Virginia will withdraw from RGGI on December 31, 2023, and accordingly did not project any RGGI compliance costs to be incurred after that date.

[5] Virginia Power requested approval of cost recovery of approximately $1.2 billion through Rider SNA for the first phase of nuclear life extension program which includes investments through 2024. In April 2022, Virginia Power, the Virginia Commission staff and certain interested parties filed a proposed stipulation recommending that costs incurred after February 2022 associated with the first phase of the nuclear life extension program for North Anna be deferred and requested for recovery in a subsequent Rider SNA filing.

[6] Consists of $510 million for the transmission component of Virginia Power's base rates and $369 million for Rider T1.

[7] Consists of previously approved phases of Rider U.

[8] In February 2023, the Virginia Commission also approved Virginia Power's requested revenue requirement for the rate year beginning April 2024. However, as Virginia Power provided notification in May 2023 to combine Rider W into base rates as discussed above, Rider W ceased to be separately collected effective July 2023.

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Regulatory Matters - Schedule of Additional Significant Riders Associated with Virginia Power Projects (Parenthetical) (Detail) - Virginia Electric and Power Company - USD ($) $ in Millions		1 Months Ended			6 Months Ended
		Jul. 31, 2023	May 31, 2023	Apr. 30, 2023	Jun. 30, 2023
Rider T1
Public Utilities General Disclosures [Line Items]
Total revenue requirement	[1]				$ 879
Rider T1 | Operating Segments | Virginia Regulation
Public Utilities General Disclosures [Line Items]
Total revenue requirement					369
Rider T1 | Operating Segments | Virginia Regulation | Transmission Component Of Virginia Powers
Public Utilities General Disclosures [Line Items]
Total revenue requirement					510
Rider GV
Public Utilities General Disclosures [Line Items]
Total revenue requirement	[2]				135
Rider GV | Rate Years Beginning
Public Utilities General Disclosures [Line Items]
Total revenue requirement					144
Rider GV | Operating Segments
Public Utilities General Disclosures [Line Items]
Total revenue requirement					148
Rider SNA
Public Utilities General Disclosures [Line Items]
Total revenue requirement	[3]				50
Rider SNA | Operating Segments | Virginia Regulation | First Phase Of Nuclear Life Extension Program
Public Utilities General Disclosures [Line Items]
Projected capital investment					$ 1,200
Base Rate Case | Virginia Regulation
Public Utilities General Disclosures [Line Items]
Total revenue requirement		$ 350	$ 351	$ 350

[1] Consists of $510 million for the transmission component of Virginia Power's base rates and $369 million for Rider T1.

[2] The total revenue requirement requested is based on an estimated retirement of Greensville County in 2058, consistent with the current estimated useful life of the facility. Virginia Power also provided an alternative approach based on an estimated retirement of Greensville County in 2045, which if utilized would result in a revenue requirement of $144 million and $148 million for rate years beginning April 2024 and April 2025, respectively.

[3] Virginia Power requested approval of cost recovery of approximately $1.2 billion through Rider SNA for the first phase of nuclear life extension program which includes investments through 2024. In April 2022, Virginia Power, the Virginia Commission staff and certain interested parties filed a proposed stipulation recommending that costs incurred after February 2022 associated with the first phase of the nuclear life extension program for North Anna be deferred and requested for recovery in a subsequent Rider SNA filing.

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Regulatory Matters - Summary of Virginia Power Electric Transmission Project Applied (Detail) - Virginia Electric and Power Company mi in Millions, kV in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) mi kV
Partial rebuild of Bristers-Ox 115 kV line in Fauquier and Prince William Counties, Virginia
Public Utilities General Disclosures [Line Items]
Application Date	2022-08
Approval Date	2023-04
Type of Line | kV	230
Miles of Lines | mi	15
Cost Estimate | $	$ 40
Construct new switching station, substations, transmission lines and related projects in Lunenberg and Mecklenburg Counties Virginia
Public Utilities General Disclosures [Line Items]
Application Date	2022-10
Approval Date	2023-06
Type of Line | kV	230
Miles of Lines | mi	18
Cost Estimate | $	$ 230
Construct New Switching Station, Substation, Transmission Lines And Related Projects In Charlotte, Halifax And Mecklenburg Counties, Virginia
Public Utilities General Disclosures [Line Items]
Application Date	2022-10
Approval Date	2023-05
Type of Line | kV	230
Miles of Lines | mi	26
Cost Estimate | $	$ 215
Construct new Mars and Wishing Star substations, transmission lines and related projects in Loudoun County, Virginia
Public Utilities General Disclosures [Line Items]
Application Date	2022-10
Approval Date	2023-04
Type of Line	500/230 kV
Miles of Lines | mi	4
Cost Estimate | $	$ 720
Construct New Altair Switching Station Transmission Lines And Related Projects In Loudoun County Virginia
Public Utilities General Disclosures [Line Items]
Application Date	2022-11
Approval Date	2023-06
Type of Line	230
Miles of Lines | mi	2
Cost Estimate | $	$ 50
Rebuild of Lines #2019 and #2007 in the City of Virginia Beach, Virginia
Public Utilities General Disclosures [Line Items]
Application Date	2023-02
Type of Line | kV	230
Miles of Lines | mi	5
Cost Estimate | $	$ 95
Install transformer at Possum Point substation, rebuild and construct transmission lines and related projects in Prince William County, Virginia
Public Utilities General Disclosures [Line Items]
Application Date	2023-03
Type of Line | kV	230
Miles of Lines | mi	2
Cost Estimate | $	$ 35
Partial rebuild of Line #2011 in the Cities of Manassas and Manassas Park, Virginia and Prince William and Fairfax Counties, Virginia
Public Utilities General Disclosures [Line Items]
Application Date	2023-03
Type of Line | kV	230
Miles of Lines | mi	7
Cost Estimate | $	$ 35
Construct new transmission lines and convert jeffress switching station in mecklenburg county virginia
Public Utilities General Disclosures [Line Items]
Application Date	2023-05
Type of Line | kV	230
Miles of Lines | mi	18
Cost Estimate | $	$ 135
Construct new transmission lines and expand white oak substation in henrico county virginia
Public Utilities General Disclosures [Line Items]
Application Date	2023-06
Type of Line | kV	230
Miles of Lines | mi	5
Cost Estimate | $	$ 45

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Leases (Narrative) (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Agreement with Lessor to Complete Construction and Lease Jones Act Compliant Offshore Wind Installation Vessel
Leases Disclosure [Line Items]
Requested cash draws from lessor to fund project costs				$ 367
Required percentage payment for specific full recourse events	100.00%
Lease maturity term	2027-11
Lessor | Agreement with Lessor to Complete Construction and Lease Jones Act Compliant Offshore Wind Installation Vessel
Leases Disclosure [Line Items]
Amount of financing commitments to fund estimated project costs	$ 625
Power Purchase Arrangement
Leases Disclosure [Line Items]
Rental revenue		$ 6	$ 7	11	$ 11
Depreciation expense		$ 2	$ 8	$ 3	$ 17

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Variable Interest Entities - (Narrative) (Detail) - Variable Interest Entity, Not Primary Beneficiary - Virginia Electric and Power Company - DES - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Variable Interest Entity [Line Items]
Shared Services Purchased	$ 113	$ 96	$ 226	$ 194
Other liabilities	$ 27		$ 27		$ 28

XML

Significant Financing Transactions (Narrative) (Detail) - USD ($)			1 Months Ended							3 Months Ended				6 Months Ended
		Sep. 01, 2022	Jul. 31, 2023	Jun. 30, 2023	Apr. 30, 2023	Mar. 31, 2023	Jan. 31, 2023	Jun. 30, 2022	May 31, 2022	Jun. 30, 2023	Mar. 31, 2023	Aug. 31, 2022	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Feb. 28, 2023	Dec. 31, 2022		Nov. 30, 2020	Aug. 31, 2020	Jul. 31, 2020
Debt Instrument [Line Items]
Facility Limit	[1]			$ 6,000,000,000						$ 6,000,000,000				$ 6,000,000,000
Securities due within one year				4,346,000,000						4,346,000,000				4,346,000,000			$ 3,337,000,000	[2]
Short-term debt				4,575,000,000						4,575,000,000				4,575,000,000			3,423,000,000	[2]
Line of credit issued														2,500,000,000
Supplemental credit facility borrowings				$ 0						$ 0				$ 0			450,000,000	[2]
Preferred stock shares authorized				20,000,000						20,000,000				20,000,000
Issuance of common stock														$ 85,000,000	$ 1,701,000,000
Issuance of stock										$ 42,000,000			$ 1,758,000,000	$ 85,000,000	$ 1,803,000,000
Common Stock
Debt Instrument [Line Items]
Stock repurchased, shares										0				0
Issuance of stock (in shares)								400,000	900,000	1,000,000			21,000,000	2,000,000	22,000,000
Issuance of stock								$ 30,000,000	$ 72,000,000	$ 42,000,000			$ 1,758,000,000	$ 85,000,000	$ 1,803,000,000
Stock repurchase program, authorized amount																			$ 1,000,000,000		$ 3,000,000
Common Stock | 2019 Series A Corporate Units
Debt Instrument [Line Items]
Issuance of stock (in shares)								19,400,000
Issuance of stock								$ 1,600,000
Series A Preferred Stock
Debt Instrument [Line Items]
Recorded dividend													$ 5,000,000		$ 12,000,000
Recorded dividends per share													$ 2.917		$ 7.292
Recorded interest expense													$ 2,000,000		$ 2,000,000
Series A Preferred Stock | 2019 Series A Corporate Units
Debt Instrument [Line Items]
Preferred stock dividend rate increase percentage		6.75%
Preferred stock dividend rate percentage									1.75%			1.75%
Stock repurchased, shares									1,600,000
Series B Preferred Stock
Debt Instrument [Line Items]
Recorded dividend										$ 9,000,000			$ 9,000,000	$ 18,000,000	$ 18,000,000
Recorded dividends per share										$ 11.625			$ 11.625	$ 23.25	$ 23.25
Series C Preferred Stock
Debt Instrument [Line Items]
Recorded dividend										$ 11,000,000			$ 11,000,000	$ 22,000,000	$ 22,000,000
Recorded dividends per share										$ 10.875			$ 10.875	$ 21.75	$ 21.75
Various Programs
Debt Instrument [Line Items]
Issuance of common stock														$ 85,000,000	$ 91,000,000
Issuance of stock (in shares)														2,000,000	1,000,000
At-the-Market Program
Debt Instrument [Line Items]
Sale agreement expiration month and year														2023-06
Floating Rate Demand Notes
Debt Instrument [Line Items]
Short-term debt				$ 403,000,000						$ 403,000,000				$ 403,000,000			347,000,000
Floating Rate Demand Notes | Shelf Registration for Sale of Demand Notes
Debt Instrument [Line Items]
Facility Limit																	3,000,000,000
DESC
Debt Instrument [Line Items]
Facility Limit				500,000,000						500,000,000				500,000,000
DESC | Short-term Indebtedness
Debt Instrument [Line Items]
Facility Limit						$ 2,200,000,000					$ 2,200,000,000
Questar Gas Company
Debt Instrument [Line Items]
Facility Limit				250,000,000						250,000,000				250,000,000
Virginia Electric and Power Company
Debt Instrument [Line Items]
Facility Limit	[3]			6,000,000,000						6,000,000,000				6,000,000,000
Aggregate outstanding principal				160,000,000						160,000,000				160,000,000
Securities due within one year				379,000,000						379,000,000				379,000,000			1,164,000,000	[4]
Short-term debt				$ 1,265,000,000						$ 1,265,000,000				$ 1,265,000,000			$ 941,000,000	[4]
Interest rate percentage				3.65%						3.65%				3.65%
Debt, maturity month and year				2027-10
Issuance of stock (in shares)										0			0	0	0
Virginia Electric and Power Company | Interest Rate Swap
Debt Instrument [Line Items]
Debt, maturity month and year						2023-12
Reduction in securities due within one year						$ 448,000,000					448,000,000
Derivative notional value																				$ 900,000,000
Virginia Electric and Power Company | Senior Notes Due in 2033
Debt Instrument [Line Items]
Total Long-term Debt						$ 750,000,000					$ 750,000,000
Interest rate percentage						5.00%					5.00%
Debt maturity year											2033
Virginia Electric and Power Company | Senior Notes Due in 2053
Debt Instrument [Line Items]
Total Long-term Debt						$ 750,000,000					$ 750,000,000
Interest rate percentage						5.45%					5.45%
Debt maturity year											2053
Dominion Energy
Debt Instrument [Line Items]
Preferred stock shares issued				1,800,000						1,800,000				1,800,000			1,800,000
Preferred stock shares outstanding				1,800,000						1,800,000				1,800,000			1,800,000
Dominion Energy | Series B Preferred Stock
Debt Instrument [Line Items]
Preferred stock shares issued				800,000						800,000				800,000			800,000
Preferred stock shares outstanding				800,000						800,000				800,000			800,000
Dominion Energy | Series C Preferred Stock
Debt Instrument [Line Items]
Preferred stock shares issued				1,000,000						1,000,000				1,000,000			1,000,000
Preferred stock shares outstanding				1,000,000						1,000,000				1,000,000			1,000,000
GENCO | Short-term Indebtedness
Debt Instrument [Line Items]
Facility Limit						$ 200,000,000					$ 200,000,000
Joint Revolving Credit Facility
Debt Instrument [Line Items]
Facility Limit				$ 6,000,000,000						$ 6,000,000,000				$ 6,000,000,000
Letter of Credit
Debt Instrument [Line Items]
Facility Limit						100,000,000					100,000,000
Credit facility, outstanding amount				0						0				0
Letters of credit issued and outstanding				58,000,000						58,000,000				58,000,000
Letter of Credit | Maximum
Debt Instrument [Line Items]
Letters of credit issued and outstanding				1,000,000						1,000,000				1,000,000
Letter of Credit | Credit Facility, Maturing in June 2024
Debt Instrument [Line Items]
Facility Limit				30,000,000						30,000,000				30,000,000
Credit facility, outstanding amount				25,000,000						25,000,000				$ 25,000,000			$ 25,000,000
Line of credit facility, maturity date														Jun. 30, 2024
Letter of Credit | Virginia Electric and Power Company
Debt Instrument [Line Items]
Facility Limit						$ 200,000,000	$ 125,000,000				200,000,000
Line of credit facility, maturity date							Jan. 31, 2026
Line of credit issued														$ 60,000,000
Sustainability Revolving Credit Agreement | Dominion Energy
Debt Instrument [Line Items]
Debt maturity year						2024
Supplemental credit facility borrowings				450,000,000						450,000,000				450,000,000			$ 450,000,000
Sustainability Revolving Credit Agreement | Dominion Energy | General Corporate Purposes
Debt Instrument [Line Items]
Proceeds from borrowings							$ 450,000,000
Repayments of borrowings					$ 450,000,000
364 Term loan facility
Debt Instrument [Line Items]
Facility Limit			$ 600,000,000				2,500,000,000
Credit facility, outstanding amount			$ 750,000,000			$ 1,000,000,000	$ 1,000,000,000				$ 1,000,000,000					$ 500,000,000
Line of credit facility, maturity date			Jul. 24, 2024				Jan. 31, 2024
Securities due within one year				$ 2,500,000,000						$ 2,500,000,000				$ 2,500,000,000

[1] This credit facility matures in June 2026, with the potential to be extended by the borrowers to June 2028, and can be used by the borrowers under the credit facility to support bank borrowings and the issuance of commercial paper, as well as to support up to a combined $2.0 billion of letters of credit.

[2] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[3] The full amount of the facility is available to Virginia Power, less any amounts outstanding to co-borrowers Dominion Energy, Questar Gas and DESC. The sub-limit for Virginia Power is set pursuant to the terms of the facility but can be changed at the option of the borrowers multiple times per year. At June 30, 2023, the sub-limit for Virginia Power was $1.75 billion. If Virginia Power has liquidity needs in excess of its sub-limit, the sub-limit may be changed or such needs may be satisfied through short-term intercompany borrowings from Dominion Energy. This credit facility matures in June 2026, with the potential to be extended by the borrowers to June 2028. The credit facility can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $2.0 billion (or the sub-limit, whichever is less) of letters of credit.

[4] Virginia Power’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date.

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Significant Financing Transactions (Commercial Paper, Bank Loans and Letters of Credit Outstanding) (Detail)	Jun. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Facility Limit	$ 6,000,000,000	[1]
Outstanding Commercial Paper	4,172,000,000	[1]
Outstanding Letters of Credit	16,000,000	[1]
Facility Capacity Available	1,812,000,000	[1]
Virginia Electric and Power Company
Line of Credit Facility [Line Items]
Facility Limit	6,000,000,000	[2]
Outstanding Commercial Paper	1,265,000,000	[2]
Outstanding Letters of Credit	$ 10,000,000	[2]

[1] This credit facility matures in June 2026, with the potential to be extended by the borrowers to June 2028, and can be used by the borrowers under the credit facility to support bank borrowings and the issuance of commercial paper, as well as to support up to a combined $2.0 billion of letters of credit.

[2] The full amount of the facility is available to Virginia Power, less any amounts outstanding to co-borrowers Dominion Energy, Questar Gas and DESC. The sub-limit for Virginia Power is set pursuant to the terms of the facility but can be changed at the option of the borrowers multiple times per year. At June 30, 2023, the sub-limit for Virginia Power was $1.75 billion. If Virginia Power has liquidity needs in excess of its sub-limit, the sub-limit may be changed or such needs may be satisfied through short-term intercompany borrowings from Dominion Energy. This credit facility matures in June 2026, with the potential to be extended by the borrowers to June 2028. The credit facility can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $2.0 billion (or the sub-limit, whichever is less) of letters of credit.

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Significant Financing Transactions (Commercial Paper, Bank Loans and Letters of Credit Outstanding) (Parenthetical) (Detail)	Jun. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Facility Limit	$ 6,000,000,000	[1]
Virginia Electric and Power Company
Line of Credit Facility [Line Items]
Facility Limit	6,000,000,000	[2]
Letter of Credit Matures in June 2028.
Line of Credit Facility [Line Items]
Facility Limit	2,000,000,000
Letter of Credit Matures in June 2028. | Virginia Electric and Power Company
Line of Credit Facility [Line Items]
Facility Limit	2,000,000,000
Line of Credit | Virginia Electric and Power Company
Line of Credit Facility [Line Items]
Facility Limit	$ 1,750,000,000

[1] This credit facility matures in June 2026, with the potential to be extended by the borrowers to June 2028, and can be used by the borrowers under the credit facility to support bank borrowings and the issuance of commercial paper, as well as to support up to a combined $2.0 billion of letters of credit.

[2] The full amount of the facility is available to Virginia Power, less any amounts outstanding to co-borrowers Dominion Energy, Questar Gas and DESC. The sub-limit for Virginia Power is set pursuant to the terms of the facility but can be changed at the option of the borrowers multiple times per year. At June 30, 2023, the sub-limit for Virginia Power was $1.75 billion. If Virginia Power has liquidity needs in excess of its sub-limit, the sub-limit may be changed or such needs may be satisfied through short-term intercompany borrowings from Dominion Energy. This credit facility matures in June 2026, with the potential to be extended by the borrowers to June 2028. The credit facility can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $2.0 billion (or the sub-limit, whichever is less) of letters of credit.

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Commitments and Contingencies (Narrative) (Detail) shares in Millions, $ in Millions	1 Months Ended												3 Months Ended			6 Months Ended		12 Months Ended
	Jul. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	May 31, 2022 shares	Aug. 31, 2021 shares	Jun. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)	Oct. 31, 2020	Jun. 30, 2018 USD ($)	Apr. 30, 2017 Petition	Aug. 31, 2016 T	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2022 USD ($) Site	Jun. 30, 2023 USD ($) Site Facility Indicator gal	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Gain on sales of assets													$ 21		$ (636)	$ 23	$ (608)
Gain on sales of assets after tax													431		$ (665)	1,147	$ (365)
SCANA | Other Current Liabilities
Loss Contingencies [Line Items]
Reserves for SCANA legal proceedings		$ 66											66			66		$ 94
SCANA | Other Receivables
Loss Contingencies [Line Items]
Insurance receivables		72											72			$ 72		68
Virginia Electric and Power Company | EPA and State Regulatory Agencies
Loss Contingencies [Line Items]
Number of facilities to assess the applicability of section 316(b) | Facility																3
Hydroelectric Facilities | EPA and State Regulatory Agencies
Loss Contingencies [Line Items]
Number of facilities to assess the applicability of section 316(b) | Facility																8
Dominion Energy South Carolina Inc | SCDOR
Loss Contingencies [Line Items]
Litigation settlement paid				$ 51				$ 165
Proposed assessment amount from audit										$ 410
Proportional share of NND project										100.00%
Gain upon completion of remaining transfer of utility properties		11											11			$ 11
Fair value of certain non-utility property transferred			$ 28
Fair value of utility property transferred														$ 10
Gain on sales of assets		11												9
Fair value of additional utility property transferred																		3
Gain on sales of assets after tax		8												$ 7
Dominion Energy South Carolina Inc | DESC | SCDOR | Common Stock
Loss Contingencies [Line Items]
Initial litigation settlement through stock issuance | shares					0.9	0.6
Dominion Energy South Carolina Inc | Minimum | SCDOR
Loss Contingencies [Line Items]
Initial litigation settlement amount through stock issuance							$ 43
Dominion Energy South Carolina Inc | Maximum | SCDOR
Loss Contingencies [Line Items]
Cash payment for remaining obligation	$ 1
Unfavorable Regulatory Action | EPA
Loss Contingencies [Line Items]
Electric generating station facilities water withdrawals per day | gal																2,000,000
Electric generating station facilities heightened entrainment analysis per day | gal																125,000,000
Unfavorable Regulatory Action | EPA | Former Gas Plant Site With Post Closure Groundwater Monitoring Program | Discontinued operations
Loss Contingencies [Line Items]
Environmental remediation reserves																$ 1
Personal Injury or Wrong Death Cases | SCANA
Loss Contingencies [Line Items]
Reserves for SCANA legal proceedings		62											62			62		68
Insurance receivables		$ 62											$ 62			$ 62		68
Carbon Regulations
Loss Contingencies [Line Items]
Public Utilities Significant Emission Rate Per Year CO2 Equivalent | T												75,000
CWA | Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Number of mandatory facility-specific factors | Indicator																5
Number of optional facility-specific factors | Indicator																6
Number of facilities that are subject to final regulations | Facility																15
CWA | Unfavorable Regulatory Action | EPA | Final Rule to Revise Effluent Limitations Guidelines for Steam Electric Power Generating Category
Loss Contingencies [Line Items]
Number of separate petitions for reconsideration granted | Petition											2
CWA | Unfavorable Regulatory Action | EPA | Minimum | Final Rule to Revise Effluent Limitations Guidelines for Steam Electric Power Generating Category
Loss Contingencies [Line Items]
Loss contingencies individual circumstances period									2021
CWA | Unfavorable Regulatory Action | EPA | Maximum | Final Rule to Revise Effluent Limitations Guidelines for Steam Electric Power Generating Category
Loss Contingencies [Line Items]
Loss contingencies individual circumstances period									2028
CWA | Unfavorable Regulatory Action | Virginia Electric and Power Company
Loss Contingencies [Line Items]
Number of facilities that are subject to final regulations | Facility																9
Waste Management and Remediation | Unfavorable Regulatory Action | EPA
Loss Contingencies [Line Items]
Number of sites remediation work substantially completed | Site																13
Number of sites with remediation plans | Site															1
Number of additional sites which are not under investigation | Site																12
Waste Management and Remediation | Unfavorable Regulatory Action | EPA | Former Gas Plant Site With Post Closure Groundwater Monitoring Program
Loss Contingencies [Line Items]
Environmental remediation reserves																$ 46		47
Waste Management and Remediation | Unfavorable Regulatory Action | EPA | Former Gas Plant Site With Post Closure Groundwater Monitoring Program | Discontinued operations
Loss Contingencies [Line Items]
Environmental remediation reserves																		1
Waste Management and Remediation | Unfavorable Regulatory Action | Virginia Electric and Power Company | EPA
Loss Contingencies [Line Items]
Number of sites with remediation plans | Site																1
Number of additional sites which are not under investigation | Site																2
Waste Management and Remediation | Unfavorable Regulatory Action | Virginia Electric and Power Company | EPA | Former Gas Plant Site With Post Closure Groundwater Monitoring Program
Loss Contingencies [Line Items]
Environmental remediation reserves																$ 25		$ 25

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Commitments and Contingencies (Guarantees, Surety Bonds and Letters of Credit) (Detail)	6 Months Ended
	Jun. 30, 2023 USD ($) Guarantee
Guarantee Obligations [Line Items]
Guarantee liability	$ 4,589,000,000	[1],[2]
Guarantee obligations related to entities held for sale	$ 39,000,000
Financial Guarantee | Equity Method Investee | Cove Point
Guarantee Obligations [Line Items]
Number of Guarantee | Guarantee	4
Guarantees with Maximum Limit [Member] | Equity Method Investee | Cove Point
Guarantee Obligations [Line Items]
Number of Guarantee | Guarantee	2
Guarantee liability	$ 1,900,000,000
Guarantees with No Maximum Limit [Member] | Equity Method Investee | Cove Point
Guarantee Obligations [Line Items]
Number of Guarantee | Guarantee	2
Guarantee liability	$ 0
Additional Guarantees [Member]
Guarantee Obligations [Line Items]
Guarantee liability	20,000,000
Surety Bond
Guarantee Obligations [Line Items]
Guarantee liability	282,000,000
Surety Bond | Virginia Electric and Power Company
Guarantee Obligations [Line Items]
Guarantee liability	198,000,000
Financial Standby Letter of Credit
Guarantee Obligations [Line Items]
Guarantee liability	$ 16,000,000

[1] Excludes Dominion Energy’s guarantee of an offshore wind installation vessel discussed in Note 14.

[2] In July 2016, Dominion Energy signed an agreement with a lessor to construct and lease a new corporate office property in Richmond, Virginia. The lessor provided equity and obtained financing commitments from debt investors, totaling $365 million, which funded total project costs. The project became substantially complete in August 2019 at which point the facility was available for Dominion Energy’s use and the five-year lease term commenced. At the end of the initial lease term, Dominion Energy can (i) extend the term of the lease for an additional five years, subject to the approval of the participants, at current market terms, (ii) purchase the property for an amount equal to the project costs or, (iii) subject to certain terms and conditions, sell the property on behalf of the lessor to a third party using commercially reasonable efforts to obtain the highest cash purchase price for the property. If the project is sold and the proceeds from the sale are insufficient to repay the investors for the project costs, Dominion Energy may be required to make a payment to the lessor, up to 87% of project costs, for the difference between the project costs and sale proceeds. At June 30, 2023, no amounts have been recorded related to this guarantee.

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Commitments and Contingencies - Schedule of Subsidiary Guarantees (Detail) $ in Millions	Jun. 30, 2023 USD ($)
Guarantee Obligations [Line Items]
Maximum Exposure	$ 4,589	[1],[2]
Commodity Transactions
Guarantee Obligations [Line Items]
Maximum Exposure	2,861	[3]
Nuclear Plant
Guarantee Obligations [Line Items]
Maximum Exposure	245	[4]
Solar
Guarantee Obligations [Line Items]
Maximum Exposure	214	[5]
Other
Guarantee Obligations [Line Items]
Maximum Exposure	$ 1,269	[6]

[1] Excludes Dominion Energy’s guarantee of an offshore wind installation vessel discussed in Note 14.

[2] In July 2016, Dominion Energy signed an agreement with a lessor to construct and lease a new corporate office property in Richmond, Virginia. The lessor provided equity and obtained financing commitments from debt investors, totaling $365 million, which funded total project costs. The project became substantially complete in August 2019 at which point the facility was available for Dominion Energy’s use and the five-year lease term commenced. At the end of the initial lease term, Dominion Energy can (i) extend the term of the lease for an additional five years, subject to the approval of the participants, at current market terms, (ii) purchase the property for an amount equal to the project costs or, (iii) subject to certain terms and conditions, sell the property on behalf of the lessor to a third party using commercially reasonable efforts to obtain the highest cash purchase price for the property. If the project is sold and the proceeds from the sale are insufficient to repay the investors for the project costs, Dominion Energy may be required to make a payment to the lessor, up to 87% of project costs, for the difference between the project costs and sale proceeds. At June 30, 2023, no amounts have been recorded related to this guarantee.

[3] Guarantees related to commodity commitments of certain subsidiaries. These guarantees were provided to counterparties in order to facilitate physical and financial transaction related commodities and services.

[4] Guarantees primarily related to certain DGI subsidiaries regarding all aspects of running a nuclear facility.

[5] Includes guarantees to facilitate the development of solar projects.

[6] Guarantees related to other miscellaneous contractual obligations such as leases, environmental obligations, construction projects and insurance programs. Also includes guarantees entered into by Dominion Energy RNG Holdings II, Inc. on behalf of a subsidiary to facilitate construction of renewable natural gas facilities. Due to the uncertainty of workers’ compensation claims, the parental guarantee has no stated limit.

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Commitments and Contingencies - Schedule of Subsidiary Guarantees (Parenthetical) (Detail) - Lessor - New Corporate Office - Agreement with Lessor to Construct and Lease Corporate Office Property - USD ($)	1 Months Ended
	Jul. 31, 2016	Jun. 30, 2023
Guarantee Obligations [Line Items]
Amount of financing commitments to fund estimated project costs	$ 365,000,000
Project completion period	2019-08
Lessee, operating Lease, existence of option to extend	true
Lease extend term	5 years
Maximum percentage payment of project costs for difference between project costs and sales proceeds	87.00%
Guarantee amount		$ 0

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Credit Risk (Narrative) (Detail)	6 Months Ended
	Jun. 30, 2023 USD ($) Counterparty	Dec. 31, 2022 USD ($)
Concentration Risk and Guarantor Obligations [Line Items]
Credit exposure	$ 208,000,000
Additional collateral to be posted if the credit related contingent features were triggered	89,000,000	$ 140,000,000
Collateral derivatives with credit-related contingent provision in a liability position	1,000,000
Aggregate fair value of all derivative instruments with credit contingent provisions that are in a liability position	90,000,000	212,000,000
Virginia Electric and Power Company
Concentration Risk and Guarantor Obligations [Line Items]
Credit exposure	63,000,000
Additional collateral to be posted if the credit related contingent features were triggered	35,000,000	28,000,000
Collateral derivatives with credit-related contingent provision in a liability position	0	72,000,000
Letter of credit as collateral posted for derivatives in liability position	4,000,000	20,000,000
Aggregate fair value of all derivative instruments with credit contingent provisions that are in a liability position	$ 35,000,000	$ 99,000,000
Credit Concentration Risk
Concentration Risk and Guarantor Obligations [Line Items]
Number of counterparties | Counterparty	0
Amount of exposure for single counterparty	$ 47,000,000
Credit Concentration Risk | Virginia Electric and Power Company
Concentration Risk and Guarantor Obligations [Line Items]
Number of counterparties | Counterparty	0
Amount of exposure for single counterparty	$ 12,000,000
Credit Concentration Risk | Investment Grade Counterparty | Virginia Electric and Power Company
Concentration Risk and Guarantor Obligations [Line Items]
Concentration risk, percentage (percentage)	75.00%
Credit Concentration Risk | Investment Grade | Investment Grade Counterparty
Concentration Risk and Guarantor Obligations [Line Items]
Concentration risk, percentage (percentage)	86.00%

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Related-Party Transactions (Narrative) (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Jan. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Short-term debt		$ 4,575		$ 4,575		$ 3,423	[1]
Borrowing Interest Charges		21		45
Virginia Electric and Power Company
Related Party Transaction [Line Items]
Short-term debt		1,265		1,265		941	[2]
Outstanding borrowings, net of repayments, under money pool for non-regulated subsidiaries		$ 0		$ 0		0
Stock Issued During Period Shares New Issues		0	0	0	0
Commencing Period	20 months
Lease commencement term	2025-08
Related party transaction costs	$ 240
Virginia Electric and Power Company | Pension Benefits | Amounts Associated With Dominion Pension Plan
Related Party Transaction [Line Items]
Amounts due to Dominion, noncurrent		$ 439		$ 439		422
Virginia Electric and Power Company | Medical Coverage for Local retirees | Amounts Associated with the Dominion Retiree Health and Welfare Plan
Related Party Transaction [Line Items]
Amounts due from Dominion, noncurrent			$ 550		$ 550	518
Virginia Electric and Power Company | Affiliated Entity
Related Party Transaction [Line Items]
Derivative assets		1		1		33
Derivative liabilities		89		89		31
Virginia Electric and Power Company | Principal Owner | Short-Term Borrowing Arrangements
Related Party Transaction [Line Items]
Short-term debt		$ 2,300		$ 2,300		$ 2,000

[1] Dominion Energy’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date and recast for certain events as discussed in Note 1.

[2] Virginia Power’s Consolidated Balance Sheet at December 31, 2022 has been derived from the audited Consolidated Balance Sheet at that date.

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Related-Party Transactions (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Related Party Transaction [Line Items]
Services provided to affiliates		$ 3,166	$ 3,059	$ 7,049	$ 6,172
Virginia Electric and Power Company
Related Party Transaction [Line Items]
Commodity purchases from affiliates		103	291	317	584
Services provided by affiliates		145	123	292	253
Services provided to affiliates	[1]	2,251	2,175	4,635	4,342
Virginia Electric and Power Company | Affiliated Entity
Related Party Transaction [Line Items]
Services provided to affiliates		$ 4	$ 5	$ 8	$ 9

[1] See Note 19 for amounts attributable to affiliates.

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Related-Party Transactions (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Virginia Electric and Power Company | Services provided by affiliates | Affiliated Entity
Related Party Transaction [Line Items]
Capital expenditures	$ 46	$ 39	$ 100	$ 78

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Employee Benefit Plans (Net Periodic Benefit Cost (Credit)) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 24	$ 35	$ 48	$ 71
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income Expense	Other Nonoperating Income Expense	Other Nonoperating Income Expense	Other Nonoperating Income Expense
Interest cost	$ 110	$ 84	$ 221	$ 167
Expected return on plan assets	(216)	(223)	(432)	(446)
Amortization of net actuarial (gain) loss		40		80
Net periodic benefit (credit) cost	(82)	(64)	(163)	(128)
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 4	$ 5	$ 7	$ 11
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income Expense	Other Nonoperating Income Expense	Other Nonoperating Income Expense	Other Nonoperating Income Expense
Interest cost	$ 16	$ 12	$ 31	$ 23
Expected return on plan assets	(38)	(48)	(76)	(96)
Amortization of prior service cost (credit)	(9)	(9)	(18)	(19)
Amortization of net actuarial (gain) loss	(2)	(1)	(3)	(1)
Net periodic benefit (credit) cost	$ (29)	$ (41)	$ (59)	$ (82)

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Employee Benefit Plans (Narrative) (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Contributions to qualified defined benefit pension plans and OPEB plans	$ 0		$ 0
Discontinued operations
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	4,000,000	$ 6,000,000	8,000,000	$ 12,000,000
Non-service cost	(12,000,000)	(10,000,000)	(23,000,000)	(21,000,000)
Other Postretirement Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 4,000,000	$ 5,000,000	$ 7,000,000	$ 11,000,000
Other Postretirement Benefits Plan | Forecast
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Contribution to voluntary employees beneficiary association					$ 0

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Operating Segments - Dominion Energy (Narrative) (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
After- tax net benefits (expenses) for specific items	$ 735
Gain (loss) on investments	308	$ (556)
Operating Segments
Segment Reporting Information [Line Items]
After- tax net benefits (expenses)	370	(1,700)
Operating Segments | Nuclear Decommissioning Trust Funds
Segment Reporting Information [Line Items]
Gain (loss) on investments	281	(579)
Gain (loss) on investments, after tax	208	(450)
Corporate and Other | Operating Segments
Segment Reporting Information [Line Items]
After- tax net benefits (expenses)	592	(963)
After- tax net benefits (expenses) for specific items		944
Contracted Asset | Operating Segments
Segment Reporting Information [Line Items]
Loss Associated with Sale of Kewaunee		649
Loss associated with sale of Kewaunee, after tax		513
Contracted Energy | Operating Segments
Segment Reporting Information [Line Items]
Loss related to economic hedging activities		299
Gain related to economic hedging activities	342
Loss related to economic hedging activities after tax		227
Gain related to economic hedging activities after tax	260
Contracted Energy | Operating Segments | Nuclear Decommissioning Trust Funds
Segment Reporting Information [Line Items]
Gain (loss) on investments, after tax	178	392
Dominion Energy Virginia | Operating Segments
Segment Reporting Information [Line Items]
Charge associated with storm damage and service restoration, after tax		70
Charges for Dismantling cost		42
Charges for Dismantling cost, after tax		31
Charge in connection with comprehensive settlement agreement for fuel expenses		191
Charge in connection with comprehensive settlement agreement for fuel expenses, after-tax		142
Charge for RGGI compliance cost		180
Charge for RGGI compliance cost, after tax		134
Charge for amortization of a regulatory asset, 2021 Triennial Review	122	122
Charge for amortization of a regulatory asset, 2021 Triennial Review, after tax	91	91
Charge associated with storm damage and service restoration		94
Dominion Energy Virginia | Operating Segments | Nuclear Decommissioning Trust Funds
Segment Reporting Information [Line Items]
Gain (loss) on investments, after tax	30	$ (58)
Dominion Energy Virginia | Operating Segments | Deferred rider costs for Virginia electric utility
Segment Reporting Information [Line Items]
Charge for the write-off of certain previously deferred amounts	36
Charge for the write-off of certain previously deferred amounts, after tax	27
Dominion Energy South Carolina Inc | Operating Segments
Segment Reporting Information [Line Items]
Benefit related to real estate transactions	31
Benefit related to real estate transactions, after tax	$ 23

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Operating Segments (Schedule of Segment Reporting Information, by Segment) (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Operating Revenue		$ 3,166	$ 3,059	$ 7,049	$ 6,172
Net Income (Loss) from discontinued operations including noncontrolling interest	[1]	168	212	449	623
Net income (loss) attributable to Dominion Energy		599	(453)	1,596	258
Operating Segments
Segment Reporting Information [Line Items]
Operating Revenue		3,166	3,059	7,049	6,172
Adjustments & Eliminations
Segment Reporting Information [Line Items]
Operating Revenue		0	0	0	0
Net Income (Loss) from discontinued operations including noncontrolling interest		0	0	0	0
Net income (loss) attributable to Dominion Energy		0	0	0	0
Intersegment revenue
Segment Reporting Information [Line Items]
Operating Revenue		0	0	0	0
Adjustments & Eliminations
Segment Reporting Information [Line Items]
Operating Revenue		(235)	(210)	(470)	(426)
Eliminations
Segment Reporting Information [Line Items]
Operating Revenue		(235)	(210)	(470)	(426)
Dominion Energy Virginia
Segment Reporting Information [Line Items]
Operating Revenue		2,251	2,170	4,635	4,335
Dominion Energy Virginia | Operating Segments
Segment Reporting Information [Line Items]
Operating Revenue		2,252	2,173	4,636	4,342
Net Income (Loss) from discontinued operations including noncontrolling interest		0	0	0	0
Net income (loss) attributable to Dominion Energy		392	442	776	958
Dominion Energy Virginia | Intersegment revenue
Segment Reporting Information [Line Items]
Operating Revenue		(1)	(3)	(1)	(7)
Dominion Energy South Carolina
Segment Reporting Information [Line Items]
Operating Revenue		773	815	1,618	1,614
Dominion Energy South Carolina | Operating Segments
Segment Reporting Information [Line Items]
Operating Revenue		771	812	1,615	1,610
Net Income (Loss) from discontinued operations including noncontrolling interest		0	0	0	0
Net income (loss) attributable to Dominion Energy		68	124	159	233
Dominion Energy South Carolina | Intersegment revenue
Segment Reporting Information [Line Items]
Operating Revenue		2	3	3	4
Contracted Energy
Segment Reporting Information [Line Items]
Operating Revenue		131	167	442	415
Contracted Energy | Operating Segments
Segment Reporting Information [Line Items]
Operating Revenue		126	161	434	405
Net Income (Loss) from discontinued operations including noncontrolling interest		0	0	0	0
Net income (loss) attributable to Dominion Energy		(44)	(27)	69	30
Contracted Energy | Intersegment revenue
Segment Reporting Information [Line Items]
Operating Revenue		5	6	8	10
Corporate and Other
Segment Reporting Information [Line Items]
Operating Revenue		246	117	824	234
Corporate and Other | Operating Segments
Segment Reporting Information [Line Items]
Operating Revenue		17	(87)	364	(185)
Net Income (Loss) from discontinued operations including noncontrolling interest		168	212	449	623
Net income (loss) attributable to Dominion Energy		183	(992)	592	(963)
Corporate and Other | Intersegment revenue
Segment Reporting Information [Line Items]
Operating Revenue		$ 229	$ 204	$ 460	$ 419

[1] Includes income tax expense (benefit) of $38 million and $32 million for the three months ended June 30, 2023 and 2022, respectively, and $94 million and $132 million for the six months ended June 30, 2023 and 2022, respectively.

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Operating Segments - Virginia Power (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
After- tax net benefits (expenses) for specific items			$ 735
Gain (loss) on investments			308	$ (556)
Virginia Electric and Power Company
Segment Reporting Information [Line Items]
Gain (loss) on investments			45	(75)
Charge for the write-off of certain previously deferred amounts	$ 38	$ 409	45	413
Virginia Electric and Power Company | Deferred rider costs for Virginia electric utility
Segment Reporting Information [Line Items]
Charge for the write-off of certain previously deferred amounts			36
Charge for the write-off of certain previously deferred amounts, after tax			27
Operating Segments
Segment Reporting Information [Line Items]
After- tax net benefits (expenses)			370	(1,700)
Operating Segments | Nuclear Decommissioning Trust Funds
Segment Reporting Information [Line Items]
Gain (loss) on investments			281	(579)
Gain (loss) on investments, after tax			208	(450)
Operating Segments | Corporate and Other
Segment Reporting Information [Line Items]
After- tax net benefits (expenses)			592	(963)
After- tax net benefits (expenses) for specific items				944
Operating Segments | Virginia Electric and Power Company
Segment Reporting Information [Line Items]
After- tax net benefits (expenses)				(527)
Charge in connection with comprehensive settlement agreement for fuel expenses				191
Charge in connection with comprehensive settlement agreement for fuel expenses, after-tax				142
Charge for RGGI compliance cost				180
Charge for RGGI compliance cost, after tax				134
Charge associated with storm damage and service restoration				94
Charge associated with storm damage and service restoration, after tax				70
Charge for amortization of a regulatory asset, 2021 Triennial Review			122	122
Charge for amortization of a regulatory asset, 2021 Triennial Review, after tax			91	91
Charges for Dismantling cost				42
Charges for Dismantling cost, after tax				31
Operating Segments | Virginia Electric and Power Company | Deferred rider costs for Virginia electric utility
Segment Reporting Information [Line Items]
Charge for the write-off of certain previously deferred amounts			36
Charge for the write-off of certain previously deferred amounts, after tax			27
Operating Segments | Virginia Electric and Power Company | Nuclear Decommissioning Trust Funds
Segment Reporting Information [Line Items]
Gain (loss) on investments			41	(78)
Gain (loss) on investments, after tax			30	(58)
Operating Segments | Virginia Electric and Power Company | Corporate and Other
Segment Reporting Information [Line Items]
After- tax net benefits (expenses)			(91)	(554)
After- tax net benefits (expenses) for specific items			$ (87)	$ (547)

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Operating Segments (Schedule of Segment Reporting Information, by Segment, Virginia Power) (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Operating Revenue		$ 3,166	$ 3,059	$ 7,049	$ 6,172
Net income (loss) attributable to Dominion Energy		599	(453)	1,596	258
Virginia Electric and Power Company
Segment Reporting Information [Line Items]
Operating Revenue	[1]	2,251	2,175	4,635	4,342
Net income (loss) attributable to Dominion Energy		332	47	685	404
Dominion Energy Virginia
Segment Reporting Information [Line Items]
Operating Revenue		2,251	2,170	4,635	4,335
Dominion Energy Virginia | Virginia Electric and Power Company
Segment Reporting Information [Line Items]
Operating Revenue		2,251	2,170	4,635	4,335
Net income (loss) attributable to Dominion Energy		392	442	776	958
Corporate and Other
Segment Reporting Information [Line Items]
Operating Revenue		246	117	824	234
Corporate and Other | Virginia Electric and Power Company
Segment Reporting Information [Line Items]
Operating Revenue		0	5	0	7
Net income (loss) attributable to Dominion Energy		$ (60)	$ (395)	$ (91)	$ (554)

[1] See Note 19 for amounts attributable to affiliates.