Operating Revenue (Tables)

Nov. 18, 2019

Operating Revenue For Revised Guidance of Revenue Recognition From Contracts with Customers

The Companies’ operating revenue, subsequent to the adoption of revised guidance for revenue recognition from contracts with customers, consists of the following: 

Year Ended December 31,	2018
(millions)
Dominion Energy
Regulated electric sales:
Residential	$	3,413
Commercial		2,503
Industrial		490
Government and other retail		854
Wholesale		137
Nonregulated electric sales		1,294
Regulated gas sales:
Residential		818
Commercial		221
Other		36
Nonregulated gas sales		214
Regulated gas transportation and storage:
FERC-regulated		1,091
State-regulated		640
Nonregulated gas transportation and storage		442
Other regulated revenues		179
Other nonregulated revenues(1)(2)		563
Total operating revenue from contracts with customers		12,895
Other revenues(2)(3)		471
Total operating revenue	$	13,366
Virginia Power
Regulated electric sales:
Residential	$	3,413
Commercial		2,503
Industrial		490
Government and other retail		854
Wholesale		137
Other regulated revenues		132
Other nonregulated revenues(1)(2)		55
Total operating revenue from contracts with customers		7,584
Other revenues(1)(3)		35
Total operating revenue	$	7,619
Dominion Energy Gas
Regulated gas sales - wholesale	$	25
Nonregulated gas sales(1)		7
Regulated gas transportation and storage		1,249
Nonregulated gas transportation and storage		442
Management service revenue(1)		257
Other regulated revenues(2)		19
Other nonregulated revenues(1)(2)		3
Total operating revenue from contracts with customers		2,002
Other revenues		(6	)
Total operating revenue	$	1,996

(1) See Notes 9 and 24 for amounts attributable to related parties and affiliates.

(2) Amounts above include $241 million and $10 million for the year ended December 31, 2018 primarily consisting of NGL sales at Dominion Energy and Dominion Energy Gas, respectively, which are considered to be goods transferred at a point in time. In addition, the amounts include $17 million and $11 million of sales of renewable energy credits at both Dominion Energy and Virginia Power for the year ended December 31, 2018, respectively, which are considered to be goods transferred at a point in time.

(3) Amounts above include $15 million of alternative revenue at Dominion Energy and Virginia Power for the year ended December 31, 2018.

Schedule of Aggregate Amount of Transaction Price Allocated To Fixed-price Performance Obligations That Unsatisfied At End of Reporting Period And Expected To be Recognized

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

Revenue expected to be recognized on multi-year    contracts in place at December 31, 2018	2019		2020		2021		2022		2023		Thereafter		Total
(millions)
Dominion Energy	$	1,643	$	1,563​​​​​​​	$	1,448	$	1,319	$	1,154	$	13,693	$	20,820
Virginia Power		21		3		1		—		—		—		25
Dominion Energy Gas		1,731		1,668		1,555		1,406		1,218		13,997		21,575

Subsequent To Adoption of Revised Guidance

Operating Revenue For Revised Guidance of Revenue Recognition From Contracts with Customers

The Companies’ operating revenue, prior to the adoption of revised guidance for revenue recognition from contracts with customers, consisted of the following:

Year Ended December 31,	2017		2016
(millions)
Dominion Energy
Electric sales:
Regulated	$	7,383		$	7,348
Nonregulated		1,429			1,519
Gas sales:
Regulated		1,067			500
Nonregulated		457			354
Gas transportation and storage		1,786			1,636
Other		464			380
Total operating revenue	$	12,586		$	11,737
Virginia Power
Regulated electric sales	$	7,383		$	7,348
Other		173			240
Total operating revenue	$	7,556		$	7,588
Dominion Energy Gas
Gas sales:
Regulated	$	6		$	44
Nonregulated		6			4
Gas transportation and storage		1,291			1,153
Other		220			173
Total operating revenue	$	1,523		$	1,374