Regulatory Matters (Tables) - Virginia Electric and Power Company

3 Months Ended

Mar. 31, 2022

Public Utilities General Disclosures [Line Items]

Summary of Additional Significant Riders Associated with Virginia Power Projects

Developments for significant riders associated with various Virginia Power projects are as follows:

Rider Name	Application Date	Approval Date	Rate Year Beginning	Total Revenue Requirement (millions)		Increase (Decrease) Over Previous Year (millions)
Rider CCR	February 2022	Pending	December 2022	$	231	$	15
Rider CE(1)	September 2021	March 2022	May 2022		71		61
Rider R	June 2021	March 2022	April 2022		59		1
Rider R	June 2021	March 2022	April 2023		55		(4	)
Rider RGGI(2)	December 2021	Withdrawn
Rider SNA(3)	October 2021	Pending	September 2022		107	N/A
Rider T1(4)	May 2022	Pending	September 2022		706		(161	)
Rider U(5)	June 2021	March 2022	April 2022		95		15
Rider US-3	August 2021	March 2022	June 2022		50		12
Rider US-4	August 2021	March 2022	June 2022		15		5

(1) Associated with solar generation and energy storage projects requested for approval in September 2021, solar generation projects approved in April 2021 and certain small-scale solar projects.

(2) In January 2022, Virginia Power filed a motion to withdraw its application as a result of the announcement by the Governor of Virginia that he intends to withdraw Virginia from RGGI. The Virginia Commission granted Virginia Power’s motion in April 2022. See additional discussion below.

(3) Virginia Power also requested approval of cost recovery of approximately $1.2 billion through Rider SNA for the first phase of nuclear life extension program which includes investments through 2024. In April 2022, Virginia Power, the Virginia Commission staff and certain interested parties filed a proposed stipulation recommending that costs incurred after February 2022 associated with the first phase of the nuclear life extension program for North Anna be deferred and requested for recovery in a subsequent Rider SNA filing.

(4) Consists of $482 million for the transmission component of Virginia Power’s base rates and $224 million for Rider T1.

(5) Consists of $60  million for previously approved phases and $35  million for phase six costs for Rider U.

In May 2022, Virginia Power filed a petition with the Virginia Commission requesting a suspension of Rider RGGI approved in August 2021. Virginia Power also requested that RGGI compliance costs incurred and unrecovered through July 2022 be recovered through existing base rates in effect during the period incurred.  If approved by the Virginia Commission, Virginia Power expects to record charges to its Consolidated Statement of Income for the amount of any unrecovered costs, which are estimated to be approximately $215 million, including the impact of certain non-jurisdictional customers which follow Virginia Power’s jurisdictional customer rate methodology. This matter is pending.

Summary of Significant Virginia Power Electric Transmission Projects Applied

Description and Location of Project	Application Date	Approval Date	Type of Line	Miles of Lines	Cost Estimate (millions)
Elmont-Ladysmith rebuild and related projects in the Counties of Hanover and Caroline, Virginia	April 2021	April 2022	500 kV	26	$	95
Nimbus line loop and substation and new 230 kV line in the County of Loudon, Virginia	February 2022	Pending	230 kV	1		40