Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2016

The current levels of nuclear property insurance coverage for Dominion's and Virginia Power's nuclear units is as follows:



	Coverage
(billions)
Dominion
Millstone	$	1.70
Kewaunee	1.06

Virginia Power⁽¹⁾
Surry	$	1.70
North Anna	1.70


(1)	Surry and North Anna share a blanket property limit of $200 million.

Lease Commitments

Future minimum lease payments under noncancelable operating and capital leases that have initial or remaining lease terms in excess of one year as of December 31, 2016 are as follows:



	2017		2018		2019		2020		2021		Thereafter		Total
(millions)
Dominion	$	72	$	69	$	58	$	39	$	32	$	238	$	508

Virginia Power	$	33	$	30	$	24	$	20	$	16	$	32	$	155

Dominion Gas	$	27	$	26	$	21	$	8	$	5	$	18	$	105

Subsidiary guarantees

At December 31, 2016, Dominion had issued the following subsidiary guarantees:



	Maximum Exposure
(millions)
Commodity transactions⁽¹⁾	$	2,074
Nuclear obligations⁽²⁾	169
Cove Point⁽³⁾	1,900
Solar⁽⁴⁾	1,130
Other⁽⁵⁾	545
Total⁽⁶⁾	$	5,818


(1)	Guarantees related to commodity commitments of certain subsidiaries. These guarantees were provided to counterparties in order to facilitate physical and financial transaction related commodities and services.


(2)	Guarantees related to certain DEI subsidiaries' regarding all aspects of running a nuclear facility.


(3)	Guarantees related to Cove Point, in support of terminal services, transportation and construction. Cove Point has two guarantees that have no maximum limit and, therefore, are not included in this amount.


(4)	Includes guarantees to facilitate the development of solar projects. Also includes guarantees entered into by DEI on behalf of certain subsidiaries to facilitate the acquisition and development of solar projects.

(5)

Guarantees related to other miscellaneous contractual obligations such as leases, environmental obligations, construction projects and insurance programs. Due to the uncertainty of worker’s compensation claims, the parental guarantee has no stated limit. Also included are guarantees related to certain DEI subsidiaries' obligations for equity capital contributions and energy generation associated with Fowler Ridge and NedPower. As of December 31, 2016, Dominion's maximum remaining cumulative exposure under these equity funding agreements is $36 million through 2019 and its maximum annual future contributions could range from approximately $4 million to $19 million.


(6)	Excludes Dominion's guarantee for the construction of the new corporate office property discussed further within Lease Commitments above.

Virginia Electric and Power Company

Loss Contingencies [Line Items]

Long-term Purchase Commitment

At December 31, 2016, Virginia Power had the following long-term commitments that are noncancelable or are cancelable only under certain conditions, and that third parties have used to secure financing for the facilities that will provide the contracted goods or services:



	2017		2018		2019		2020		2021		Thereafter		Total
(millions)
Purchased electric capacity⁽¹⁾	$	149	$	93	$	60	$	52	$	46	$	—	$	400

(1)

Commitments represent estimated amounts payable for capacity under power purchase contracts with qualifying facilities and independent power producers, the last of which ends in 2021. Capacity payments under the contracts are generally based on fixed dollar amounts per month, subject to escalation using broad-based economic indices. At December 31, 2016, the present value of Virginia Power's total commitment for capacity payments is $347 million. Capacity payments totaled $248 million, $305 million, and $330 million, and energy payments totaled $126 million, $198 million, and $304 million for the years ended 2016, 2015 and 2014, respectively.