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Income Taxes (Tables)
 9 Months Ended
Sep. 30, 2020
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

 

Nine Months Ended September 30,

 

2020

 

 

2019

 

 

2020

 

 

2019

 

U.S. statutory rate

 

 

21.0

%

 

 

21.0

%

 

 

21.0

%

 

 

21.0

%

Increases (reductions) resulting from:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State taxes, net of federal benefit

 

 

1.5

 

 

 

(898.5

)

 

 

4.7

 

 

 

4.5

 

Investment tax credits

 

 

(30.5

)

 

 

(325.2

)

 

 

(5.6

)

 

 

(5.3

)

Production tax credits

 

 

(2.4

)

 

 

(66.3

)

 

 

(0.9

)

 

 

(0.8

)

Reversal of excess deferred income

   taxes

 

 

(14.5

)

 

 

(375.6

)

 

 

(1.9

)

 

 

(4.1

)

Write-off of regulatory assets

 

 

—

 

 

 

16,565.9

 

 

 

—

 

 

 

—

 

Change in tax status

 

 

(6.1

)

 

 

—

 

 

 

—

 

 

 

—

 

AFUDC - equity

 

 

(1.1

)

 

 

(55.8

)

 

 

(0.3

)

 

 

—

 

Changes in state deferred taxes

    associated with assets held for sale

 

 

(11.6

)

 

 

—

 

 

 

—

 

 

 

—

 

Absence of tax on noncontrolling interest

 

 

14.1

 

 

 

—

 

 

 

—

 

 

 

—

 

Other, net

 

 

(1.8

)

 

 

(987.3

)

 

 

—

 

 

 

(1.2

)

Effective tax rate

 

 

(31.4

)%

 

13,878.2%

 

 

 

17.0

%

 

 

14.1

%