Related Party Transactions

6 Months Ended

Jun. 30, 2013

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

Virginia Power engages in related party transactions primarily with other Dominion subsidiaries (affiliates). Virginia Power's receivable and payable balances with affiliates are settled based on contractual terms or on a monthly basis, depending on the nature of the underlying transactions. Virginia Power is included in Dominion's consolidated federal income tax return and participates in certain Dominion benefit plans. A discussion of significant related party transactions follows.

Transactions with Affiliates

Virginia Power transacts with affiliates for certain quantities of natural gas and other commodities in the ordinary course of business. Virginia Power also enters into certain commodity derivative contracts with affiliates. Virginia Power uses these contracts, which are principally comprised of commodity swaps, to manage commodity price risk associated with purchases of natural gas. As of June 30, 2013 and December 31, 2012, Virginia Power's derivative liabilities with affiliates were not material.

DRS and other affiliates provide accounting, legal, finance and certain administrative and technical services to Virginia Power.

Presented below are significant transactions with DRS and other affiliates:

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
(millions)
Commodity purchases from affiliates	$	105	$	78	$	190	$	156
Services provided by affiliates	106		95		202		191

Virginia Power has borrowed funds from Dominion under short-term borrowing arrangements. There were $50 million and $243 million in short-term demand note borrowings from Dominion as of June 30, 2013 and December 31, 2012, respectively. Virginia Power's outstanding borrowings, net of repayments, under the Dominion money pool for its nonregulated subsidiaries totaled $192 million as of December 31, 2012. There were no borrowings as of June 30, 2013. Interest charges related to Virginia Power's borrowings from Dominion were not material for the three and six months ended June 30, 2013 and 2012.