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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.