Variable Interest Entities

6 Months Ended

Jun. 30, 2017

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Variable Interest Entities

Note 13. Variable Interest Entities

There have been no significant changes regarding the entities the Companies consider VIEs as described in Note 15 to the Consolidated Financial Statements in the Companies' Annual Report on Form 10-K for the year ended December 31, 2016.

Dominion Energy

Dominion Energy’s securities due within one year and long-term debt include $27 million and $358 million, respectively, of debt issued in 2016 by SBL Holdco, a VIE, net of issuance costs that is nonrecourse to Dominion Energy and is secured by SBL Holdco’s interest in certain merchant solar facilities.

Virginia Power

Virginia Power has long-term power and capacity contracts with three non-utility generators with an aggregate summer generation capacity of approximately 418 MW. Virginia Power is not subject to any risk of loss from these potential VIEs other than its remaining purchase commitments which totaled $231 million as of June 30, 2017. Virginia Power paid $28 million and $37 million for electric capacity and $7 million and $5 million for electric energy to these entities for the three months ended June 30, 2017 and 2016, respectively. Virginia Power paid $56 million and $74 million for electric capacity and $15 million and $12 million for electric energy to these entities for the six months ended June 30, 2017 and 2016, respectively.

Virginia Power and Dominion Energy Gas

Virginia Power and Dominion Energy Gas purchased shared services from DES, an affiliated VIE, of $83 million and $31 million for the three months ended June 30, 2017, $74 million and $29 million for the three months ended June 30, 2016, $168 million and $62 million for the six months ended June 30, 2017 and $188 million and $64 million for the six months ended June 30, 2016, respectively.