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Fair Value Measurements (Financial Instruments' Carrying Amounts and Fair Values) (Details) (USD $)
In Millions, unless otherwise specified
6 Months Ended 12 Months Ended
Jun. 30, 2012
Dec. 31, 2011
Long-term debt - VIE $ 875 $ 890 [1]
Junior subordinated notes payable to affiliates 268 268 [1]
Enhanced junior subordinated notes 1,363 1,451 [1]
Subsidiary preferred stock 257 257 [1]
Valuation of certain fair value hedges 103 105
Issuance expenses of subsidiary preferred stock 2 2
Carrying Amount
   
Long-term debt, including securities due within one year 16,638 [2] 16,264 [2]
Long-term debt - VIE 875 [3] 890 [3]
Junior subordinated notes payable to affiliates 268 268
Enhanced junior subordinated notes 1,363 1,451
Subsidiary preferred stock 257 [4] 257 [4]
Estimate of Fair Value
   
Long-term debt, including securities due within one year 19,672 [2],[5] 18,936 [2],[5]
Long-term debt - VIE 880 [3],[5] 892 [3],[5]
Junior subordinated notes payable to affiliates 275 [5] 268 [5]
Enhanced junior subordinated notes 1,457 [5] 1,518 [5]
Subsidiary preferred stock 268 [4],[5] 256 [4],[5]
Virginia Electric and Power Company
   
Subsidiary preferred stock 257 257 [6]
Virginia Electric and Power Company | Carrying Amount
   
Long-term debt, including securities due within one year 7,302 [2] 6,862 [2]
Subsidiary preferred stock 257 [4] 257 [4]
Virginia Electric and Power Company | Estimate of Fair Value
   
Long-term debt, including securities due within one year 8,919 [2],[5] 8,281 [2],[5]
Subsidiary preferred stock $ 268 [4],[5] $ 256 [4],[5]
[1] Dominion’s Consolidated Balance Sheet at December 31, 2011 has been derived from the audited Consolidated Financial Statements at that date.
[2] Includes amounts which represent the unamortized discount and premium. At June 30, 2012 and December 31, 2011, includes the valuation of certain fair value hedges associated with Dominion’s fixed rate debt of approximately $103 million and $105 million, respectively.
[3] Includes amounts which represent the unamortized premium.
[4] Includes deferred issuance expenses of $2 million at June 30, 2012 and December 31, 2011.
[5] Fair value is estimated using market prices, where available, and interest rates currently available for issuance of debt with similar terms and remaining maturities. All fair value measurements are classified as Level 2. The carrying amount of debt issues with short-term maturities and variable rates refinanced at current market rates is a reasonable estimate of their fair value.
[6] Virginia Power’s Consolidated Balance Sheet at December 31, 2011 has been derived from the audited Consolidated Financial Statements at that date.