Income Taxes (Tables)

3 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Effective Income Tax

	Dominion Energy						Virginia Power
Three Months Ended March 31,	2025			2024			2025			2024
U.S. statutory rate		21.0	%		21.0	%		21.0	%		21.0	%
Increases (reductions) resulting from:
State taxes, net of federal    benefit		4.8			2.8			4.4			4.4
Investment tax credits		(3.1	)		(2.4	)		(0.9	)		(0.7	)
Production tax credits		(6.1	)		(1.8	)		(4.4	)		(0.9	)
Reversal of excess deferred    income taxes		(2.1	)		(3.9	)		(1.9	)		(1.7	)
Remeasurements and     settlements of uncertain     tax positions		(4.0	)		—			—			—
AFUDC - equity		(1.0	)		(1.3	)		(1.1	)		(0.7	)
Absence of tax on     noncontrolling interest		(2.2	)		—			(2.5	)
Other, net		0.1			0.1			0.2			0.2
Effective tax rate		7.4	%		14.5	%		14.8	%		21.6	%

The IRA created a nuclear production tax credit for electricity produced and sold beginning in 2024 and a clean fuel production tax credit for clean fuel produced and sold beginning in 2025. For the three months ended March 31, 2025, Dominion Energy’s and Virginia Power’s effective tax rate includes a $19 million income tax benefit for the nuclear production tax credit. For the same period, Dominion Energy’s effective tax rate includes a $14 million income tax benefit for the clean fuel production tax credit. The ultimate nuclear and clean fuel production tax credits realized by the Companies could vary significantly based on pending final U.S. Treasury guidance. No amounts were realized for the three months ended March 31, 2024.