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Regulatory Assets and Liabilities (Schedule of Regulatory Assets) (Detail) - USD ($)
$ in Millions
1 Months Ended 6 Months Ended
Feb. 29, 2024
Jun. 30, 2024
Dec. 31, 2023
Regulatory Assets [Line Items]      
Regulatory assets-current [1]   $ 969 $ 1,309 [2]
Regulatory assets-noncurrent [1]   8,349 8,356 [2]
Total regulatory assets   9,318 9,665
Virginia Electric and Power Company      
Regulatory Assets [Line Items]      
Regulatory assets-current [3]   662 868 [4]
Regulatory assets-noncurrent [3]   4,593 4,317 [4]
Total regulatory assets   $ 5,255 5,185
Estimated under-recovered balances $ 1,300    
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 [5]   $ 55 245
Regulatory assets-noncurrent [5]   0 1,221
Deferred cost of fuel used in electric generation | Virginia Electric and Power Company      
Regulatory Assets [Line Items]      
Regulatory assets-current [5]   19 95
Regulatory assets-noncurrent [5]   0 1,221
Securitized cost of fuel used in electric generation      
Regulatory Assets [Line Items]      
Regulatory assets-current [6]   121 0
Regulatory assets-noncurrent [6]   1,123 0
Securitized cost of fuel used in electric generation | Virginia Electric and Power Company      
Regulatory Assets [Line Items]      
Regulatory assets-current [6]   121 0
Regulatory assets-noncurrent [6]   1,123 0
Deferred rider costs for Virginia electric utility      
Regulatory Assets [Line Items]      
Regulatory assets-current [7]   167 270
Regulatory assets-noncurrent [7]   598 496
Deferred rider costs for Virginia electric utility | Virginia Electric and Power Company      
Regulatory Assets [Line Items]      
Regulatory assets-current [7]   167 270
Regulatory assets-noncurrent [7]   598 496
Ash pond and landfill closure costs      
Regulatory Assets [Line Items]      
Regulatory assets-current [8]   $ 155 200
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 [8]   $ 155 200
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 [9]   $ 83 63
Deferred nuclear refueling outage costs | Virginia Electric and Power Company      
Regulatory Assets [Line Items]      
Regulatory assets-current [9]   83 63
NND Project Costs      
Regulatory Assets [Line Items]      
Regulatory assets-current [10]   138 138
Regulatory assets-noncurrent [10]   1,880 1,949
CCR Remediation, Ash Pond and Landfill Closure Cost      
Regulatory Assets [Line Items]      
Regulatory assets-noncurrent [8]   2,962 2,410
CCR Remediation, Ash Pond and Landfill Closure Cost | Virginia Electric and Power Company      
Regulatory Assets [Line Items]      
Regulatory assets-noncurrent [8]   2,646 2,407
Derivatives      
Regulatory Assets [Line Items]      
Regulatory assets-current [11]   33 162
Regulatory assets-noncurrent [11]   142 107
Derivatives | Virginia Electric and Power Company      
Regulatory Assets [Line Items]      
Regulatory assets-current [11]   31 160
Regulatory assets-noncurrent [11]   105 66
Other      
Regulatory Assets [Line Items]      
Regulatory assets-current   217 231
Regulatory assets-noncurrent   596 590
Other | Virginia Electric and Power Company      
Regulatory Assets [Line Items]      
Regulatory assets-current   86 80
Regulatory assets-noncurrent   121 127
Unrecognized Pension and Other Postretirement Benefit Costs      
Regulatory Assets [Line Items]      
Regulatory assets-noncurrent [12]   495 1,036
Unrecognized Pension and Other Postretirement Benefit Costs | Virginia Electric and Power Company      
Regulatory Assets [Line Items]      
Regulatory assets-noncurrent [12]   0 0
Unrecognized Pension and Other Postretirement Benefit Costs | East Ohio, PSNC and Questar Gas      
Regulatory Assets [Line Items]      
Regulatory assets-noncurrent   10 215
Interest rate hedges      
Regulatory Assets [Line Items]      
Regulatory assets-noncurrent [13]   167 168
Interest rate hedges | Virginia Electric and Power Company      
Regulatory Assets [Line Items]      
Regulatory assets-noncurrent [13]   0 0
AROs and related funding      
Regulatory Assets [Line Items]      
Regulatory assets-noncurrent [14]   $ 386 $ 379
Amortization period for deferred costs   105 years  
Deferred Project Costs | Maximum      
Regulatory Assets [Line Items]      
Amortization period for deferred costs   18 months  
[1] See Note 15 for amounts attributable to VIEs.
[2] Dominion Energy’s Consolidated Balance Sheet at December 31, 2023 has been derived from the audited Consolidated Balance Sheet at that date.
[3] See Note 15 for amounts attributable to VIEs.
[4] Virginia Power’s Consolidated Balance Sheet at December 31, 2023 has been derived from the audited Consolidated Balance Sheet at that date.
[5] Reflects deferred fuel expenses for the Virginia and North Carolina jurisdictions of Virginia Power’s electric generation operations. Additionally, Dominion Energy includes deferred fuel expenses for the South Carolina jurisdiction of its electric generation operations. In February 2024, Virginia Power completed a securitization of $1.3 billion of under-recovered fuel costs for its Virginia service territory.
[6] Reflects under-recovered fuel costs for Virginia Power’s Virginia service territory securitized through the issuance of bonds by VPFS in February 2024. See Note 15 in this report and Notes 13 and 18 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2023 for additional information.
[7] Reflects deferrals under Virginia Power’s electric transmission FERC formula rate and the deferral of costs associated with certain current and prospective rider projects.
[8] 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. In addition, the balance at June 30, 2024 reflects amounts related to the EPA’s May 2024 final rule concerning CCR as discussed in Note 2.
[9] 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.
[10] 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.
[11] 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.
[12] 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 regulatory assets of $10 million at June 30, 2024 and regulatory assets of $215 million and regulatory liabilities of $12 million at December 31, 2023 related to retained pension and other postretirement benefit plan assets and obligations for the East Ohio (at December 31, 2023 only), Questar Gas (at December 31, 2023 only) and PSNC Transactions which will be reclassified to AOCI upon closing of each transaction.
[13] 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, 2024.
[14] 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.