Operating Revenue

9 Months Ended

Sep. 30, 2020

Note 4. Operating Revenue

The Companies’ operating revenue consists of the following:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
(millions)
Dominion Energy
Regulated electric sales:
Residential	$	1,497	$	1,440	$	3,746	$	3,180
Commercial		865		962		2,391		2,347
Industrial		190		227		548		474
Government and other retail		239		244		651		658
Wholesale		37		45		99		134
Nonregulated electric sales		218		197		627		688
Regulated gas sales:
Residential		123		121		853		905
Commercial		50		52		304		311
Other		18		23		61		84
Nonregulated gas sales		12		51		124		369
Regulated gas transportation and storage - State		165		168		578		547
Other regulated revenues		61		54		236		184
Other nonregulated revenues⁽¹⁾⁽²⁾		61		39		132		112
Total operating revenue from contracts with customers		3,536		3,623		10,350		9,993
Other revenues⁽³⁾⁽⁴⁾		71		159		301		513
Total operating revenue	$	3,607	$	3,782	$	10,651	$	10,506
Virginia Power
Regulated electric sales:
Residential	$	1,146	$	1,085	$	2,860	$	2,816
Commercial		645		732		1,805		2,049
Industrial		98		121		284		351
Government and other retail		223		224		603		625
Wholesale		25		31		70		97
Other regulated revenues		61		36		217		124
Other nonregulated revenues⁽¹⁾⁽²⁾		33		21		66		54
Total operating revenue from contracts with customers		2,231		2,250		5,905		6,116
Other revenues⁽²⁾⁽³⁾		17		14		78		51
Total operating revenue	$	2,248	$	2,264	$	5,983	$	6,167

(1)

Amounts above include sales which are considered to be goods transferred at a point in time. Such amounts included $5 million for the three months ended September 30, 2020, $12 million for the three months ended September 30, 2019, $16 million for the nine months ended September 30, 2020 and $29 million for the nine months ended September 30, 2019, primarily consisting of sales of commodities related to nonregulated extraction activities and other miscellaneous products. Additionally, amounts above include sales of renewable energy credits. Such amounts included $21 million and $16 million for the three months ended September 30, 2020, $12 million and $11 million for the three months ended September 30, 2019, $32 million and $24 million for the nine months ended September 30, 2020 and $19 million and $14 million for the nine months ended September 30, 2019, at Dominion Energy and Virginia Power, respectively.

(2)	See Notes 10 and 19 for amounts attributable to related parties and affiliates.

(3)

Amounts above include alternative revenue of $51 million and $9 million at Dominion Energy and $12 million and $9 million at Virginia Power for the three months ended September 30, 2020 and 2019, respectively, and $90 million and $44million at Dominion Energy and $63 million and $35 million at Virginia Power for the nine months ended September 30, 2020 and 2019, respectively.

(4)	Amounts above include revenue associated with services provided to discontinued operations of $1 million and $4 million for both the three and nine months ended September 30, 2020 and 2019, respectively.

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 the Companies expect to recognize this revenue. These revenues relate to contracts containing fixed prices where the Companies will earn the associated revenue over time as they stand 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 the Companies elect to recognize revenue in the amount they have a right to invoice.

Revenue expected to be recognized on multi-year contracts in place at September 30, 2020	2020		2021		2022		2023		2024		Thereafter		Total
(millions)
Dominion Energy	$	18	$	66	$	66	$	64	$	57	$	516	$	787
Virginia Power		1		1		—		—		—		—		2

At September 30, 2020 and December 31, 2019, Dominion Energy’s contract liability balances were $120 million and $102 million, respectively, and are recorded in other current liabilities and other deferred credits and other liabilities in the Consolidated Balance Sheets. At September 30, 2020 and December 31, 2019, Virginia Power’s contract liability balances were $27 million and $24 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 nine months ended September 30, 2020 and 2019 Dominion Energy recognized revenue of $95 million and $83 million, respectively, from the beginning contract liability balances. During the nine months ended September 30, 2020 and 2019, Virginia Power recognized $24 million and $22 million, respectively, from the beginning contract liability balance.