Operating Revenue

9 Months Ended

Sep. 30, 2022

Note 4. Operating Revenue

The Companies’ operating revenue consists of the following:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
(millions)
Dominion Energy
Regulated electric sales:
Residential	$	1,609		$	1,281		$	4,013		$	3,453
Commercial		1,349			831			3,336			2,311
Industrial		253			194			670			547
Government and other retail		353			258			922			670
Wholesale		66			52			181			131
Nonregulated electric sales		345			271			948			754
Regulated gas sales:
Residential		154			132			1,154			950
Commercial		83			61			462			346
Other		62			31			158			88
Nonregulated gas sales		2			7			7			74
Regulated gas transportation and storage		229			208			767			698
Other regulated revenues		76			47			195			187
Other nonregulated revenues⁽¹⁾		74			61			183			149
Total operating revenue from contracts with customers		4,655			3,434			12,996			10,358
Other revenues⁽²⁾⁽³⁾		(269	)		(258	)		(735	)		(274	)
Total operating revenue	$	4,386		$	3,176		$	12,261		$	10,084
Virginia Power
Regulated electric sales:
Residential	$	1,238		$	935		$	3,069		$	2,572
Commercial		1,105			604			2,696			1,715
Industrial		134			94			347			268
Government and other retail		335			241			874			625
Wholesale		38			31			101			79
Nonregulated electric sales		17			18			62			32
Other regulated revenues		64			37			195			165
Other nonregulated revenues⁽¹⁾⁽⁴⁾		28			27			50			61
Total operating revenue from contracts with customers		2,959			1,987			7,394			5,517
Other revenues⁽²⁾⁽⁴⁾		(84	)		(11	)		(177	)		30
Total operating revenue	$	2,875		$	1,976		$	7,217		$	5,547

(1)

Includes sales which are considered to be goods transferred at a point in time of $10 million and $9 million for the three months ended September 30, 2022 and 2021, respectively, and $35 million and $24 million for the nine months ended September 30, 2022 and 2021, 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 $21 million and $16 million for the three months ended September 30, 2022 and 2021, respectively, and $32 million and $29 million for the nine months ended September 30, 2022 and 2021, respectively, at Dominion Energy and $13 million for both the three months ended September 30, 2022 and 2021 and $13 million and $22 million for the nine months ended September 30, 2022 and 2021, respectively, at Virginia Power.

(2)

Includes alternative revenue of $20 million and $3 million at Dominion Energy and $20 million and $3 million at Virginia Power for the three months ended September 30, 2022 and 2021, respectively, and $90 million and $50 million at Dominion Energy and $47 million and $41 million at Virginia Power for the nine months ended September 30, 2022 and 2021, respectively.

(3)	Includes revenue associated with services provided to discontinued operations of $1 million and $3 million for the three and nine months ended September 30, 2021, respectively.

(4)	See Note 19 for amounts attributable to affiliates.

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 September 30, 2022

2022

2023

2024

2025

2026

Thereafter

Total

(millions)

Dominion Energy

449

698

At September 30, 2022 and December 31, 2021, Dominion Energy’s contract liability balances were $159 million and $124 million, respectively, and are recorded in other current liabilities and other deferred credits and other liabilities in the Consolidated Balance Sheets. At September 30, 2022 and December 31, 2021, Virginia Power’s contract liability balances were $43 million and $33 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, 2022 and 2021, Dominion Energy recognized revenue of $120 million and $124 million, respectively, from the beginning contract liability balances. During the nine months ended September 30, 2022 and 2021, Virginia Power recognized $33 million and $36 million, respectively, from the beginning contract liability balances.