Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Long term Debt

	2023 Weighted- average Coupon(1)			Dominion Energy						Virginia Power
At December 31,				2023			2022			2023			2022
(millions, except percentages)
Term Loans, variable rate, due 2024		6.52	%	$	4,750		$	—
Sustainability Revolving Credit Agreement, variable rate, due 2024(2)		6.28	%		450			450
Unsecured Senior Notes:
Variable rate, due 2023					—			1,000
1.45% to 7.00%, due 2023 to 2052(3)		4.14	%		11,476			12,476
Unsecured Junior Subordinated Notes:
3.071% due 2024		3.07	%		700			700
Payable to Affiliated Trust, 8.4%, due 2031		8.40	%		10			10
Enhanced Junior Subordinated Notes:
5.75% due 2054		5.75	%		685			685
Virginia Electric and Power Company:
Unsecured Senior Notes, 2.30% to 8.875%, due 2023 to 2053		4.25	%		16,935			15,135		$	16,935		$	15,135
Tax-Exempt Financings, 0.75% to 3.65%, due 2032 to 2041(4)		1.77	%		625			625			625			625
DECP Holdings, Term Loan, variable rate, due 2024(5)					—			2,349
DESC:
First Mortgage Bonds, 2.30% to 6.625%, due 2028 to 2065		5.23	%		4,134			3,634
Tax-Exempt Financings(6):
Variable rate due 2038		3.87	%		35			35
3.625% and 4.00%, due 2028 and 2033		3.90	%		54			54
GENCO, variable rate due 2038		3.87	%		33			33
Other		3.61	%		1			1
Secured Senior Notes, 4.82%, due 2042(7)		4.82	%		291			308
Tax-Exempt Financing, 3.80% due 2033		3.80	%		27			27
Total Principal				$	40,206		$	37,522		$	17,560		$	15,760
Securities due within one year and supplemental credit facility borrowings(7)(8)					(6,839	)		(2,848	)		(350	)		(700	)
Unamortized discount, premium and debt issuance costs, net					(311	)		(322	)		(167	)		(144	)
Derivative restructuring(9)					—			141			—			—
Finance leases					192			91			72			65
Total long-term debt				$	33,248		$	34,584		$	17,115		$	14,981

(1)Represents weighted-average coupon rates for debt outstanding as of December 31, 2023.

(2)This $900 million supplemental credit facility, entered in 2021, offers a reduced interest rate margin with respect to borrowed amounts allocated to certain environmental sustainability or social investment initiatives. Proceeds of the supplemental credit facility also may be used for general corporate purposes, but such proceeds are not eligible for a reduced interest rate margin. In May 2022, Dominion Energy borrowed $900 million. The proceeds from these borrowings were used to support environmental sustainability and social investment initiatives ($450 million) and for general corporate purposes ($450 million). In June 2022, Dominion Energy repaid $450 million borrowed for general corporate purposes. 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. In September 2023, Dominion Energy borrowed $450 million under this facility with the proceeds used for general corporate purposes. In October 2023, Dominion Energy repaid $450 million borrowed for general corporate purposes.

(3)Includes debt assumed by Dominion Energy from the merger of its former CNG subsidiary.

(4)These financings relate to certain pollution control equipment at Virginia Power’s generating facilities.

(5)In connection with the sale of Dominion Energy’s interest in Cove Point, described further in Note 9, DECP Holdings’ outstanding term loan balance of $2.2 billion was repaid in September 2023. This term loan was scheduled to mature in December 2024.

(6)Industrial revenue bonds totaling $68 million are secured by letters of credit that expire, subject to renewal, in the fourth quarter of 2024.

(7)Represents debt associated with Eagle Solar. In February 2024, Eagle Solar redeemed the remaining principal outstanding of $279 million. The debt which otherwise would have matured in 2042 was nonrecourse to Dominion Energy and was secured by Eagle Solar's interest in certain solar facilities. As such, these borrowings are presented within securities due within one year in Dominion Energy’s Consolidated Balance Sheets at December 31, 2023.

(8)Dominion Energy and Virginia Power’s weighted-average rate for securities due within one year was 5.79% and 3.45%, respectively, as of December 31, 2023.

(9)Excludes $143 million at December 31, 2023 for Dominion Energy and $447 million at December 31, 2022, for both Dominion Energy and Virginia Power, representing the current portion which is presented within securities due within one year in the Companies’ Consolidated Balance Sheets.

Schedule Of Principal Payments Of Long Term Debt

Based on stated maturity dates rather than early redemption dates that could be elected by instrument holders, the scheduled principal payments of long-term debt, at December 31, 2023 were as follows:

	2024			2025			2026			2027			2028			Thereafter			Total
(millions, except percentages)
Dominion Energy
Term Loans	$	4,750		$	—		$	—		$	—		$	—		$	—		$	4,750
Sustainability Revolving Credit    Agreement		450			—			—			—			—			—			450
First Mortgage Bonds		—			—			—			—			53			4,081			4,134
Unsecured Senior Notes		650			1,500			2,120			1,783			1,195			21,164			28,412
Secured Senior Notes(1)		31			19			20			21			22			178			291
Tax-Exempt Financings		—			—			—			—			39			735			774
Unsecured Junior Subordinated    Notes Payable to Affiliated    Trusts		—			—			—			—			—			10			10
Unsecured Junior Subordinated    Notes		700			—			—			—			—			—			700
Enhanced Junior Subordinated    Notes		—			—			—			—			—			685			685
Total	$	6,581		$	1,519		$	2,140		$	1,804		$	1,309		$	26,853		$	40,206
Weighted-average Coupon		5.83	%		3.57	%		2.64	%		3.77	%		4.01	%		4.57	%
Virginia Power
Unsecured Senior Notes	$	350		$	350		$	1,150		$	1,350		$	700		$	13,035		$	16,935
Tax-Exempt Financings		—			—			—			—			—			625			625
Total	$	350		$	350		$	1,150		$	1,350		$	700		$	13,660		$	17,560
Weighted-average Coupon		3.45	%		3.10	%		3.08	%		3.61	%		3.80	%		4.37	%

(1)Represents debt associated with Eagle Solar. In February 2024, Eagle Solar redeemed the remaining principal outstanding of $279 million. The debt which otherwise would have matured in 2042 was nonrecourse to Dominion Energy and was secured by Eagle Solar's interest in certain solar facilities. As such, these borrowings are presented within securities due within one year in Dominion Energy’s Consolidated Balance Sheets at December 31, 2023.