XML 29 R20.htm IDEA: XBRL DOCUMENT v3.22.2.2
Affiliated and Related Party Transactions
9 Months Ended
Sep. 30, 2022
Related Party Transactions [Abstract]  
Affiliated and Related Party Transactions

12. AFFILIATED AND RELATED PARTY TRANSACTIONS

DES, on behalf of itself and its parent company, provides the following services to DESC, which are rendered at direct or allocated cost: information systems, telecommunications, customer support, marketing and sales, human resources, corporate compliance, purchasing, financial, risk management, public affairs, legal, investor relations, gas supply and capacity management, strategic planning, general administrative and retirement benefits. Costs for these services include amounts capitalized. Amounts expensed are primarily recorded in other operations and maintenance - affiliated suppliers and other income, net in the Consolidated Statements of Comprehensive Income.

DESC transacts with affiliates for certain quantities of electricity in the ordinary course of business. DESC also enters into certain commodity derivative contracts with affiliates. DESC uses these contracts, which are principally comprised of forward commodity purchases, to manage commodity price risks associated with purchases of electricity. See Note 7 for additional information.

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

(millions)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Direct and allocated costs from DES(1)

 

$

52

 

 

$

53

 

 

$

158

 

 

$

168

 

Operating Revenues - Electric from sales to affiliate

 

 

1

 

 

 

 

 

 

3

 

 

 

2

 

Operating Revenues - Gas from sales to affiliate

 

 

1

 

 

 

 

 

 

1

 

 

 

 

Operating Expenses - Other taxes from affiliate

 

 

1

 

 

 

2

 

 

 

6

 

 

 

6

 

Purchases of electricity from solar affiliates

 

 

5

 

 

 

5

 

 

 

12

 

 

 

12

 

 

(1)

Includes capitalized expenditures of $12 million and $8 million for the three months ended September 30, 2022 and 2021, respectively, and $36 million and $23 million for the nine months ended September 30, 2022 and 2021, respectively.

 

(millions)

 

September 30, 2022

 

 

December 31, 2021

 

Payable to Dominion Energy

 

$

48

 

 

$

1

 

Receivable from Dominion Energy

 

 

2

 

 

 

 

Payable to DES

 

 

23

 

 

 

30

 

Payable to SCANA Corporation

 

 

7

 

 

 

 

Payable to Public Service Company of North Carolina, Incorporated

 

 

9

 

 

 

 

Receivable from Public Service Company of North Carolina, Incorporated

 

 

 

 

 

60

 

Payable to solar affiliates

 

 

1

 

 

 

1

 

Receivable from nuclear affiliates

 

 

 

 

 

1

 

Derivative assets with affiliates(1)

 

 

56

 

 

 

28

 

 

(1)    Includes amounts recorded in other current assets of $14 million and $4 million as of September 30, 2022 and December 31, 2021, respectively, and amounts recorded in other deferred debits and other assets of $42 million and $24 million as of September 30, 2022 and December 31, 2021, respectively.

 

Borrowings from an affiliate are described in Note 5.