Operating Revenue

12 Months Ended

Dec. 31, 2021

NOTE 4. OPERATING REVENUE

The Companies’ operating revenue consists of the following:

Year Ended December 31,	2021			2020		2019
(millions)
Dominion Energy
Regulated electric sales:
Residential	$	4,509		$	4,833	$	4,325
Commercial		3,194			3,102		3,219
Industrial		748			730		683
Government and other retail		921			868		873
Wholesale		175			128		176
Nonregulated electric sales		1,005			823		941
Regulated gas sales:
Residential		1,455			1,283		1,343
Commercial		527			457		457
Other		135			88		109
Nonregulated gas sales		96			174		495
Regulated gas transportation and storage		945			801		742
Other regulated revenues		265			327		252
Other nonregulated revenues⁽¹⁾⁽²⁾		195			138		130
Total operating revenue from contracts with customers		14,170			13,752		13,745
Other revenues⁽³⁾⁽⁴⁾		(206	)		420		656
Total operating revenue	$	13,964		$	14,172	$	14,401
Virginia Power
Regulated electric sales:
Residential	$	3,366		$	3,677	$	3,657
Commercial		2,417			2,342		2,712
Industrial		367			380		455
Government and other retail		862			804		823
Wholesale		107			90		128
Nonregulated electric sales		44			19		15
Other regulated revenues		234			299		190
Other nonregulated revenues⁽¹⁾⁽²⁾		73			50		56
Total operating revenue from contracts with customers		7,470			7,661		8,036
Other revenues⁽¹⁾⁽³⁾		—			102		72
Total operating revenue	$	7,470		$	7,763	$	8,108

(1)	See Notes 9 and 25 for amounts attributable to related parties and affiliates.

(2)

Includes sales which are considered to be goods transferred at a point in time of $34 million, $22 million and $37 million for the years ended December 31, 2021, 2020 and 2019, respectively, at Dominion Energy, primarily consisting of sales of commodities related to nonregulated extraction activities and other miscellaneous products. Additionally, sales of renewable energy credits were $33 million, $20 million and $24 million for the years ended December 31, 2021, 2020 and 2019, respectively, at Dominion Energy and $21 million, $11 million and $17 million for the years ended December 31, 2021, 2020 and 2019, respectively, at Virginia Power.

(3)	Includes alternative revenue of $56 million, $119 million and $66 million at Dominion Energy and $44 million, $82 million and $52 million at Virginia Power for years ended December 31, 2021, 2020 and 2019, respectively.

(4)	Includes revenue associated with services provided to discontinued operations of $5 million, $4 million and $6 million for the years ended December 31, 2021, 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 Dominion Energy expects to recognize this revenue. These revenues relate to contracts containing fixed prices where Dominion Energy will earn the associated revenue over time as it stands 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 Dominion Energy elects to recognize revenue in the amount it has a right to invoice.

Revenue expected to be recognized on multi-year

contracts in place at December 31, 2021

2022

2023

2024

2025

2026

Thereafter

Total

(millions)

Dominion Energy⁽¹⁾

448

737

(1)	Includes no amounts for Virginia Power.

Contract liabilities represent an entity’s obligation to transfer goods or services to a customer for which the entity has received consideration, or the amount that is due, from the customer. At December 31, 2021 and 2020, Dominion Energy’s contract liability balances were $124 million and $130 million, respectively. At December 31, 2021 and 2020, Virginia Power’s contract liability balances were $33 million and $36 million, respectively. The Companies’ contract liabilities are recorded in other current liabilities and other deferred credits and other liabilities in the Consolidated Balance Sheets. The Companies recognize revenue as they fulfill their obligations to provide service to their customers. During the years ended December 31, 2021 and 2020, Dominion Energy recognized revenue of $124 million and $97 million from the beginning contract liability balance. During the years ended December 31, 2021 and 2020, Virginia Power recognized revenue of $36 million and $24 million, respectively, from the beginning contract liability balance.