Operating Revenue

6 Months Ended

Jun. 30, 2023

Note 4. Operating Revenue

The Companies’ operating revenue consists of the following:


	Dominion Energy										Virginia Power
	Quarter-to-Date					Year-to-Date					Quarter-to-Date					Year-to-Date
Period Ended June 30,	2023		2022			2023		2022			2023		2022			2023		2022
(millions)
Regulated electric sales:
Residential	$	1,124	$	1,117		$	2,410	$	2,404		$	832	$	816		$	1,842	$	1,831
Commercial		1,147		1,089			2,217		1,987			917		874			1,783		1,591
Industrial		211		220			431		417			99		110			215		213
Government and other retail		232		297			476		569			213		281			442		539
Wholesale		36		68			80		115			22		31			51		63
Nonregulated electric sales		125		236			382		603			22		31			33		45
Regulated gas sales:
Residential		285		231			1,147		1,000
Commercial		117		106			431		379
Other		23		51			58		96
Nonregulated gas sales		6		4			7		5
Regulated gas transportation and storage		252		241			563		538
Other regulated revenues		68		73			130		119			62		80			136		131
Other nonregulated revenues(1)(2)		59		61			109		109			22		16			33		22
Total operating revenue from contracts with customers		3,685		3,794			8,441		8,341			2,189		2,239			4,535		4,435
Other revenues(1)(3)		109		(198	)		605		(466	)		62		(64	)		100		(93	)
Total operating revenue	$	3,794	$	3,596		$	9,046	$	7,875		$	2,251	$	2,175		$	4,635	$	4,342

(1)

See Note 19 for amounts attributable to affiliates.

(2)

Includes sales which are considered to be goods transferred at a point in time of $8 million and $14 million for the three months ended June 30, 2023 and 2022, respectively, and $16 million and $25 million for the six months ended June 30, 2023 and 2022, respectively, at Dominion Energy, primarily consisting of sales of commodities related to nonregulated extraction activities and other miscellaneous products. Additionally, sales of renewable energy credits were $24 million and $7 million for the three months ended June 30, 2023 and 2022, respectively, and $29 million and $11 million for the six months ended June 30, 2023 and 2022, respectively, at Dominion Energy and $19 million and less than $1 million for the three months ended June 30, 2023 and 2022, respectively, and $22 million and less than $1 million for the six months ended June 30, 2023 and 2022, respectively, at Virginia Power.

(3)

Includes alternative revenue of $57 million and $40 million for the three months ended June 30, 2023 and 2022, respectively, and $114 million and $70 million for the six months ended June 30, 2023 and 2022, respectively, at Dominion Energy and $50 million and $19 million for the three months ended June 30, 2023 and 2022, respectively, and $77 million and $27 million for the six months ended June 30, 2023 and 2022, respectively, at Virginia Power.

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 Dominion Energy expects to recognize this revenue. These revenues relate to contracts containing fixed prices where Dominion Energy will earn the associated revenue over time as it stands 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 Dominion Energy elects to recognize revenue in the amount it has a right to invoice.


Revenue expected to be recognized on multi-year contracts in place at June 30, 2023	2023		2024		2025		2026		2027		Thereafter		Total
(millions)
Dominion Energy(1)	$	33	$	61	$	54	$	48	$	46	$	402	$	644

(1)

Includes no amounts for Virginia Power.

At June 30, 2023 and December 31, 2022, Dominion Energy’s contract liability balances were $133 million and $150 million, respectively, and are recorded in other current liabilities and other deferred credits and other liabilities in its Consolidated Balance Sheets. At June 30, 2023 and December 31, 2022, Virginia Power’s contract liability balances were $74 million and $39 million, respectively, and are recorded in other current liabilities and other deferred credits and other liabilities in its Consolidated Balance Sheets.

The Companies recognize revenue as they fulfill their obligations to provide service to their customers. During the six months ended June 30, 2023 and 2022, Dominion Energy recognized revenue of $146 million and $119 million, respectively, from the beginning contract liability balances. During the six months ended June 30, 2023 and 2022, Virginia Power recognized $39 million and $33 million, respectively, from the beginning contract liability balances.