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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current Assets      
Cash and cash equivalents [1] $ 355 $ 310 [2]  
Customer receivables (less allowance for doubtful accounts) [1] 2,045 2,169 [2]  
Other receivables (less allowance for doubtful accounts) 323 358 [2]  
Inventories 1,765 1,764 [2]  
Regulatory assets [1] 996 992 [2]  
Derivative assets 251 436 [2]  
Other [1] 671 584 [2]  
Total current assets 6,406 6,613 [2]  
Investments      
Nuclear decommissioning trust funds 7,879 8,051 [2]  
Investment in equity method affiliates 132 [3] 138 [2]  
Other 360 361 [2]  
Total investments 8,371 8,550 [2]  
Property, Plant and Equipment      
Property, plant and equipment [1] 97,574 94,844 [2]  
Accumulated depreciation and amortization (26,405) (25,982) [2]  
Total property, plant and equipment, net 71,169 68,862 [2]  
Deferred Charges and Other Assets      
Goodwill 4,143 4,143 [2]  
Regulatory assets [1] 8,341 8,288 [2]  
Other [1] 6,125 5,959 [2]  
Total deferred charges and other assets 18,609 18,390 [2]  
Total assets 104,555 102,415 [2]  
Current Liabilities      
Securities due within one year [4] 2,070 1,725 [5]  
Short-term debt 2,084 2,500 [5]  
Accounts payable 995 1,149 [5]  
Accrued interest, payroll and taxes [4] 897 1,045 [5]  
Regulatory liabilities 512 579 [5]  
Supplemental credit facility borrowings 0 0 [5]  
Other current liabilities [6] 2,220 2,291 [5]  
Total current liabilities 8,778 9,289 [5]  
Long-Term Debt      
Long-term debt 35,457 33,034 [5]  
Securitization bonds [4] 1,054 1,054 [5]  
Junior subordinated notes 3,222 3,223 [5]  
Supplemental credit facility borrowings 0 0 [5]  
Other 216 214 [5]  
Total long-term debt 39,949 37,525 [5]  
Deferred Credits and Other Liabilities      
Deferred income taxes 6,522 6,412 [5]  
Deferred investment tax credits 1,089 1,070 [5]  
Regulatory liabilities 8,793 9,196 [5]  
Other [4] 8,702 8,731 [5]  
Total deferred credits and other liabilities 25,106 25,409 [5]  
Total liabilities 73,833 72,223 [5]  
Commitments and Contingencies (see Note 17)  
Shareholders' Equity      
Preferred stock (see Note 16) 991 991 [5]  
Common stock - no par [7] 24,424 24,383 [5]  
Retained earnings 2,102 2,035 [5]  
Accumulated other comprehensive (loss) income (152) (156) [5]  
Shareholders' equity 27,365 27,253 [5]  
Noncontrolling interests 3,357 2,939 [5]  
Total equity 30,722 30,192 [5] 27,567
Total liabilities and equity 104,555 102,415 [5]  
Virginia Electric and Power Company      
Current Assets      
Cash and cash equivalents 180 [8] 160 [8],[9] 90
Customer receivables (less allowance for doubtful accounts) [8] 1,551 1,612 [9]  
Other receivables (less allowance for doubtful accounts) 157 168 [9]  
Affiliated receivables 32 27 [9]  
Inventories 1,134 1,148 [9]  
Regulatory assets [8] 659 697 [9]  
Derivative assets [10] 54 248 [9]  
Other [8] 267 194 [9]  
Total current assets 4,034 4,254 [9]  
Investments      
Nuclear decommissioning trust funds 4,200 4,286 [9]  
Other 4 4 [9]  
Total investments 4,204 4,290 [9]  
Property, Plant and Equipment      
Property, plant and equipment [8] 72,852 70,550 [9]  
Accumulated depreciation and amortization (18,338) (18,033) [9]  
Total property, plant and equipment, net 54,514 52,517 [9]  
Deferred Charges and Other Assets      
Regulatory assets [8] 4,565 4,537 [9]  
Other [8],[10] 2,986 2,789 [9]  
Total deferred charges and other assets 7,551 7,326 [9]  
Total assets 70,303 68,387 [9]  
Current Liabilities      
Securities due within one year [8] 1,298 548 [9]  
Short-term debt 244 950 [9]  
Accounts payable 612 660 [9]  
Payables to affiliates 162 133 [9]  
Affiliated current borrowings 1,675 500 [9]  
Accrued dividend [11] 0 407  
Accrued interest, payroll and taxes [8] 453 366 [9]  
Regulatory liabilities 294 385 [9]  
Other current liabilities [10] 1,613 1,688 [9]  
Total current liabilities 6,351 5,637 [9]  
Long-Term Debt      
Long-term debt 19,361 18,874 [9]  
Securitization bonds [8] 1,054 1,054 [9]  
Other 112 110 [9]  
Total long-term debt 20,527 20,038 [9]  
Deferred Credits and Other Liabilities      
Deferred income taxes 4,145 4,045 [9]  
Deferred investment tax credits 634 640 [9]  
Regulatory liabilities 6,277 6,574 [9]  
Other [8],[10] 6,320 6,300 [9]  
Total deferred credits and other liabilities 17,376 17,559 [9]  
Total liabilities 44,254 43,234 [9]  
Commitments and Contingencies (see Note 17)  
Shareholders' Equity      
Common stock - no par [12] 8,987 8,987 [9]  
Other paid-in capital 1,006 1,006 [9]  
Retained earnings 12,677 12,194 [9]  
Accumulated other comprehensive (loss) income 22 27 [9]  
Shareholders' equity 22,692 22,214 [9]  
Noncontrolling interests 3,357 2,939 [9]  
Total equity 26,049 25,153 [9] $ 21,657
Total liabilities and equity $ 70,303 $ 68,387 [9]  
[1] See Note 15 for amounts attributable to VIEs.
[2] Dominion Energy’s Consolidated Balance Sheet at December 31, 2024 has been derived from the audited Consolidated Balance Sheet at that date.
[3] Excludes liability to Atlantic Coast Pipeline.
[4] See Note 15 for amounts attributable to VIEs.
[5] Dominion Energy’s Consolidated Balance Sheet at December 31, 2024 has been derived from the audited Consolidated Balance Sheet at that date.
[6] See Note 10 for amounts attributable to related parties.
[7] 1.8 billion shares authorized; 853 million shares and 852 million shares outstanding at March 31, 2025 and December 31, 2024, respectively.
[8] See Note 15 for amounts attributable to VIEs.
[9] Virginia Power’s Consolidated Balance Sheet at December 31, 2024 has been derived from the audited Consolidated Balance Sheet at that date.
[10] See Note 19 for amounts attributable to affiliates.
[11] See Note 19 for amounts attributable to affiliates.
[12] 500,000 shares authorized; 324,245 shares outstanding at both March 31, 2025 and December 31, 2024.