UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark one)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2025

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number	Exact name of registrants as specified in their charters, address of principal executive offices and registrants’ telephone number	I.R.S. Employer Identification Number
001-08489	DOMINION ENERGY, INC.	54-1229715
000-55337	VIRGINIA ELECTRIC AND POWER COMPANY	54-0418825
	600 East Canal Street Richmond, Virginia 23219 (804) 819-2284

State or other jurisdiction of incorporation or organization of the registrants: Virginia

Securities registered pursuant to Section 12(b) of the Act:

Registrant	Trading Symbol	Title of Each Class	Name of Each Exchange on Which Registered
DOMINION ENERGY, INC.	D	Common Stock, no par value	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Dominion Energy, Inc. Yes ☒ No ☐ Virginia Electric and Power Company Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Dominion Energy, Inc. Yes ☒ No ☐ Virginia Electric and Power Company Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “non-accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Dominion Energy, Inc.

Large accelerated filer	☒	Accelerated filer	☐	Emerging growth company	☐
Non-accelerated filer	☐	Smaller reporting company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Virginia Electric and Power Company

Large accelerated filer	☐	Accelerated filer	☐	Emerging growth company	☐
Non-accelerated filer	☒	Smaller reporting company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Dominion Energy, Inc. Yes ☐ No ☒ Virginia Electric and Power Company Yes ☐ No ☒

At October 24, 2025, the latest practicable date for determination, Dominion Energy, Inc. had 853,913,277 shares of common stock outstanding and Virginia Electric and Power Company had 373,881 shares of common stock outstanding. Dominion Energy, Inc. is the sole holder of Virginia Electric and Power Company’s common stock.

This combined Form 10-Q represents separate filings by Dominion Energy, Inc. and Virginia Electric and Power Company. Information contained herein relating to an individual registrant is filed by that registrant on its own behalf. Virginia Electric and Power Company makes no representation as to the information relating to Dominion Energy, Inc.’s other operations.

VIRGINIA ELECTRIC AND POWER COMPANY MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTION H(1)(a) AND (b) OF FORM 10-Q AND IS FILING THIS FORM 10-Q UNDER THE REDUCED DISCLOSURE FORMAT.

1

COMBINED INDEX

		Page Number
	Glossary of Terms	3
	PART I. Financial Information
Item 1.	Financial Statements	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	65
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	80
Item 4.	Controls and Procedures	81
	PART II. Other Information
Item 1.	Legal Proceedings	82
Item 1A.	Risk Factors	82
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	82
Item 5.	Other Information	82
Item 6.	Exhibits	83

2

GLOSSARY OF TERMS

The following abbreviations or acronyms used in this Form 10-Q are defined below:

Abbreviation or Acronym	Definition
2017 Tax Reform Act	An Act to Provide for Reconciliation Pursuant to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018 (previously known as The Tax Cuts and Jobs Act) enacted on December 22, 2017
2023 Biennial Review	Virginia Commission review of Virginia Power’s earned return on base rate generation and distribution services for the two successive 12-month test periods beginning January 1, 2021 and ending December 31, 2022 and prospective rate base setting for the succeeding annual periods beginning January 1, 2024 and ending December 31, 2025
2025 Biennial Review	Virginia Commission review of Virginia Power’s earned return on base rate generation and distribution services for the two successive 12-month test periods beginning January 1, 2023 and ending December 31, 2024 and prospective rate base setting for the succeeding annual periods beginning January 1, 2026 and ending December 31, 2027
2027 Biennial Review	Future Virginia Commission review of Virginia Power’s earned return on base rate generation and distribution services for the two successive 12-month test periods beginning January 1, 2025 and ending December 31, 2026 and prospective rate base setting for the succeeding annual periods beginning January 1, 2028 and ending December 31, 2029
2025 Series A JSNs	Dominion Energy’s 2025 Series A Junior Subordinated Notes due 2056
2025 Series B JSNs	Dominion Energy’s 2025 Series B Junior Subordinated Notes due 2056
AFUDC	Allowance for funds used during construction
AOCI	Accumulated other comprehensive income (loss)
ARO	Asset retirement obligation
Atlantic Coast Pipeline	Atlantic Coast Pipeline, LLC, a limited liability company owned by Dominion Energy and Duke Energy
Atlantic Coast Pipeline Project	A previously proposed approximately 600-mile natural gas pipeline running from West Virginia through Virginia to North Carolina which would have been owned by Dominion Energy and Duke Energy
bcf	Billion cubic feet
Bedford	A 70 MW solar generation facility in Chesapeake, Virginia
Birdseye	Birdseye Renewable Energy, LLC
BOEM	Bureau of Ocean Energy Management
Brunswick County	A 1,376 MW combined-cycle, natural gas-fired power station in Brunswick County, Virginia
CAA	Clean Air Act
CCR	Coal combustion residual
CEO	Chief Executive Officer
CERCLA	Comprehensive Environmental Response, Compensation and Liability Act of 1980, also known as Superfund
CFO	Chief Financial Officer
Chesterfield Energy Reliability Center	A proposed 944 MW simple-cycle, natural gas-fired power station in Chesterfield County, Virginia
CO2	Carbon dioxide
CODM	Chief Operating Decision Maker
Companies	Dominion Energy and Virginia Power, collectively
Contracted Energy	Contracted Energy operating segment
Cooling degree days	Units measuring the extent to which the average daily temperature is greater than 65 degrees Fahrenheit, or 75 degrees Fahrenheit in DESC’s service territory, calculated as the difference between 65 or 75 degrees, as applicable, and the average temperature for that day
Cove Point	Cove Point LNG, LP (formerly known as Dominion Energy Cove Point LNG, LP)
CPCN	Certificate of Public Convenience and Necessity
CVOW Commercial Project	A proposed 2.6 GW wind generation facility 27 miles off the coast of Virginia Beach, Virginia in federal waters adjacent to the CVOW Pilot Project and associated interconnection facilities in and around Virginia Beach, Virginia
CVOW Pilot Project	A 12 MW wind generation facility 27 miles off the coast of Virginia Beach, Virginia in federal waters
CWA	Clean Water Act
DES	Dominion Energy Services, Inc.

3

DESC	The legal entity, Dominion Energy South Carolina, Inc., one or more of its consolidated entities or operating segment, or the entirety of Dominion Energy South Carolina, Inc. and its consolidated entities
DGI	Dominion Generation, Inc.
Dominion Energy	The legal entity, Dominion Energy, Inc., one or more of its consolidated subsidiaries (other than Virginia Power) or operating segments, or the entirety of Dominion Energy, Inc. and its consolidated subsidiaries
Dominion Energy Direct®	A dividend reinvestment and open enrollment direct stock purchase plan
Dominion Energy South Carolina	Dominion Energy South Carolina operating segment
Dominion Energy Virginia	Dominion Energy Virginia operating segment
Dominion Privatization	Dominion Utility Privatization, LLC, a joint venture between Dominion Energy and Patriot
DSM	Demand-side management
DSM Riders	Rate adjustment clauses, designated Riders C1A, C2A, C3A and C4A, associated with the recovery of costs related to certain Virginia DSM programs in approved DSM cases
Dth	Dekatherm
Duke Energy	The legal entity, Duke Energy Corporation, one or more of its consolidated subsidiaries, or the entirety of Duke Energy Corporation and its consolidated subsidiaries
Eagle Solar	Eagle Solar, LLC, a wholly-owned subsidiary of DGI
East Ohio	The East Ohio Gas Company (a subsidiary of Enbridge effective March 2024)
East Ohio Transaction	The sale by Dominion Energy to Enbridge of all issued and outstanding capital stock in Dominion Energy Questar Corporation and its consolidated subsidiaries, which following a reorganization included East Ohio and Dominion Energy Gas Distribution, LLC, pursuant to a purchase and sale agreement entered into on September 5, 2023, which was completed on March 6, 2024
Enbridge	The legal entity, Enbridge Inc., one or more of its consolidated subsidiaries (including Enbridge Elephant Holdings, LLC, Enbridge Parrot Holdings, LLC and Enbridge Quail Holdings, LLC), or the entirety of Enbridge Inc. and its consolidated subsidiaries
EPA	U.S. Environmental Protection Agency
EPS	Earnings per common share
FERC	Federal Energy Regulatory Commission
FTRs	Financial transmission rights
GAAP	U.S. generally accepted accounting principles
GENCO	South Carolina Generating Company, Inc.
GHG	Greenhouse gas
Greensville County	A 1,605 MW combined-cycle, natural gas-fired power station in Greensville County, Virginia
GTSA	Virginia Grid Transformation and Security Act of 2018
GW	Gigawatt
Heating degree days	Units measuring the extent to which the average daily temperature is less than 65 degrees Fahrenheit, or 60 degrees Fahrenheit in DESC’s service territory, calculated as the difference between 65 or 60 degrees, as applicable, and the average temperature for that day
IRA	An Act to Provide for Reconciliation Pursuant to Title II of Senate Concurrent Resolution 14 of the 117th Congress (also known as the Inflation Reduction Act of 2022) enacted on August 16, 2022
ISO	Independent system operator
Jones Act	The Coastwise Merchandise Statute (commonly known as the Jones Act) 46 U.S.C. §55102 regulating U.S. maritime commerce
kV	Kilovolt
LNG	Liquefied natural gas
MD&A	Management’s Discussion and Analysis of Financial Condition and Results of Operations
MGD	Million gallons per day
Millstone	Millstone nuclear power station
Moody’s	Moody’s Investors Service
MW	Megawatt
MWh	Megawatt hour
Natural Gas Rate Stabilization Act	Legislation effective February 2005 designed to improve and maintain natural gas service infrastructure to meet the needs of customers in South Carolina
NAV	Net asset value

4

NND Project	V.C. Summer Units 2 and 3 nuclear development project under which DESC and Santee Cooper undertook to construct two Westinghouse AP1000 Advanced Passive Safety nuclear units in Jenkinsville, South Carolina
North Anna	North Anna nuclear power station
North Carolina Commission	North Carolina Utilities Commission
NOX	Nitrogen oxide
NRC	U.S. Nuclear Regulatory Commission
Order 1000	Order issued by FERC adopting requirements for electric transmission planning, cost allocation and development
OSWP	OSW Project LLC, a limited liability company owned by Virginia Power and Stonepeak
ozone season	The period May 1st through September 30th, as determined on a federal level
Patriot	Patriot Utility Privatizations, LLC, a joint venture between Foundation Infrastructure Partners, LLC and John Hancock Life Insurance Company (U.S.A.) and affiliates
PJM	PJM Interconnection, LLC
PSD	Prevention of significant deterioration
PSNC	Public Service Company of North Carolina, Incorporated (a subsidiary of Enbridge effective September 2024)
PSNC Transaction	The sale by Dominion Energy to Enbridge of all of its membership interests in Fall North Carolina Holdco LLC and its consolidated subsidiaries, which following a reorganization included PSNC, pursuant to a purchase and sale agreement entered into on September 5, 2023, which was completed on September 30, 2024
Pumpkinseed	A 60 MW solar generation facility in Emporia, Virginia
Questar Gas	Questar Gas Company (a subsidiary of Enbridge effective May 2024)
Questar Gas Transaction	The sale by Dominion Energy to Enbridge of all of its membership interests in Fall West Holdco LLC and its consolidated subsidiaries, which following a reorganization included Questar Gas, Wexpro, Wexpro II Company, Wexpro Development Company, Dominion Energy Wexpro Services Company, Questar InfoComm Inc. and Dominion Gas Projects Company, LLC, pursuant to a purchase and sale agreement entered into on September 5, 2023, which was completed on May 31, 2024
RGGI	Regional Greenhouse Gas Initiative
Rider BW	A rate adjustment clause associated with the recovery of costs related to Brunswick County
Rider CCR	A rate adjustment clause associated with the recovery of costs related to the removal of CCR at certain power stations
Rider CE	A rate adjustment clause associated with the recovery of costs related to certain renewable generation, energy storage and related transmission facilities in Virginia, certain small-scale distributed generation projects and related transmission facilities and, beginning May 2024, power purchase agreements for the energy, capacity, ancillary services and renewable energy credits owned by third parties
Rider DIST	A rate adjustment clause associated with the recovery of costs previously being recovered under Riders GT and U
Rider E	A rate adjustment clause associated with the recovery of costs related to certain capital projects at Virginia Power’s electric generating stations to comply with federal and state environmental laws and regulations
Rider GEN	A rate adjustment clause associated with recovery of costs previously being recovered under Riders BW, GV, four other riders associated with generation facilities and the Virginia LNG Storage Facility
Rider GT	A rate adjustment clause associated with the recovery of costs associated with electric distribution grid transformation projects that the Virginia Commission has approved as authorized by the GTSA
Rider GV	A rate adjustment clause associated with the recovery of costs related to Greensville County
Rider OSW	A rate adjustment clause associated with costs incurred to construct, own and operate the CVOW Commercial Project
Rider RPS	A rate adjustment clause associated with the recovery of costs related to the mandatory renewable portfolio standard program established by the VCEA
Rider SNA	A rate adjustment clause associated with costs relating to the preparation of the applications for subsequent license renewal to the NRC to extend the operating licenses of Surry and North Anna and related projects

5

Rider T1	A rate adjustment clause to recover the difference between revenues produced from transmission rates included in base rates, and the new total revenue requirement developed annually for the rate years effective September 1
Rider U	A rate adjustment clause associated with the recovery of costs of new underground distribution facilities
ROE	Return on equity
RTO	Regional transmission organization
Santee Cooper	South Carolina Public Service Authority
SCANA	The legal entity, SCANA Corporation, one or more of its consolidated subsidiaries, or the entirety of SCANA Corporation and its consolidated subsidiaries
SCANA Combination	Dominion Energy’s acquisition of SCANA completed on January 1, 2019 pursuant to the terms of the agreement and plan of merger entered on January 2, 2018 between Dominion Energy and SCANA
SCANA Merger Approval Order	Final order issued by the South Carolina Commission on December 21, 2018 setting forth its approval of the SCANA Combination
SEC	U.S. Securities and Exchange Commission
Section 232	Section 232 of the Trade Expansion Act of 1962
Series B Preferred Stock	Dominion Energy’s 4.65% Series B Fixed-Rate Cumulative Redeemable Perpetual Preferred Stock, without par value, with a liquidation preference of $1,000 per share
Series C Preferred Stock	Dominion Energy’s 4.35% Series C Fixed-Rate Cumulative Redeemable Perpetual Preferred Stock, without par value, with a liquidation preference of $1,000 per share
South Carolina Commission	Public Service Commission of South Carolina
Standard & Poor’s	Standard & Poor’s Ratings Services, a division of S&P Global Inc.
Stonepeak	The legal entity Stonepeak Partners, LLC, one or more of its affiliated investment vehicles (including Dunedin Member LLC) or the entirety of Stonepeak Partners, LLC and its affiliated investment vehicles
Summer	V.C. Summer nuclear power station
Surry	Surry nuclear power station
VCEA	Virginia Clean Economy Act of March 2020
VEBA	Voluntary Employees’ Beneficiary Association
VIE	Variable interest entity
Virginia Commission	Virginia State Corporation Commission
Virginia LNG Storage Facility	A proposed LNG storage facility in Brunswick and Greensville Counties, Virginia
Virginia Power	The legal entity, Virginia Electric and Power Company, one or more of its consolidated subsidiaries or operating segment, or the entirety of Virginia Electric and Power Company and its consolidated subsidiaries
VPFS	Virginia Power Fuel Securitization, LLC
Wexpro	The legal entity, Wexpro Company, one or more of its consolidated subsidiaries, or the entirety of Wexpro Company and its consolidated subsidiaries (a subsidiary of Enbridge effective May 2024)

6

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

DOMINION ENERGY, INC.

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three Months Ended September 30,					Nine Months Ended September 30,
	2025		2024			2025		2024
(millions, except per share amounts)
Operating Revenue	$	4,527	$	3,941		$	12,413	$	11,059
Operating Expenses
Electric fuel and other energy-related purchases		1,337		910			3,245		2,787
Purchased electric capacity		36		24			63		57
Purchased gas		31		34			221		198
Other operations and maintenance		850		900			2,631		2,595
Depreciation and amortization		609		549			1,771		1,791
Other taxes		195		184			598		556
Impairment of assets and other charges		130		122			226		219
Total operating expenses		3,188		2,723			8,755		8,203
Income from operations		1,339		1,218			3,658		2,856
Other income (expense)		432		348			884		714
Interest and related charges		527		404			1,513		1,449
Income from continuing operations including noncontrolling interests before income    tax expense		1,244		1,162			3,029		2,121
Income tax expense		216		213			476		421
Net Income From Continuing Operations Including Noncontrolling Interests		1,028		949			2,553		1,700
Net Income (Loss) From Discontinued Operations Including Noncontrolling     Interests(1)		—		(15	)		—		200
Net Income Including Noncontrolling Interests		1,028		934			2,553		1,900
Noncontrolling Interests		22		—			122		—
Net Income Attributable to Dominion Energy	$	1,006	$	934		$	2,431	$	1,900
Amounts Attributable to Dominion Energy
Net income from continuing operations	$	1,006	$	949		$	2,431	$	1,700
Net income (loss) from discontinued operations		—		(15	)		—		200
Net income attributable to Dominion Energy	$	1,006	$	934		$	2,431	$	1,900
EPS - Basic
Net income from continuing operations	$	1.17	$	1.11		$	2.81	$	1.95
Net income (loss) from discontinued operations		—		(0.02	)		—		0.24
Net income attributable to Dominion Energy	$	1.17	$	1.09		$	2.81	$	2.19
EPS - Diluted
Net income from continuing operations	$	1.16	$	1.11		$	2.81	$	1.95
Net income (loss) from discontinued operations		—		(0.02	)		—		0.24
Net income attributable to Dominion Energy	$	1.16	$	1.09		$	2.81	$	2.19

(1)Includes income tax expense (benefit) of $(2) million and $(9) million for the three months ended September 30, 2025 and 2024, respectively, and $(5) million and $31 million for the nine months ended September 30, 2025 and 2024, respectively.

The accompanying notes are an integral part of Dominion Energy’s Consolidated Financial Statements.

7

DOMINION ENERGY, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
(millions)
Net income including noncontrolling interests	$	1,028		$	934		$	2,553		$	1,900
Other comprehensive income (loss), net of taxes:
Net deferred gains (losses) on derivatives-hedging activities(1)		(3	)		(7	)		(19	)		2
Changes in unrealized net gains (losses) on investment securities(2)		6			27			15			10
Changes in net unrecognized pension and other postretirement benefit    costs (credits)(3)		—			—			—			—
Amounts reclassified to net income (loss):
Net derivative (gains) losses-hedging activities(4)		7			8			22			24
Net realized (gains) losses on investment securities(5)		(1	)		(1	)		3			5
Net pension and other postretirement benefit costs (credits)(6)		(3	)		(3	)		(8	)		(9	)
Total other comprehensive income (loss)		6			24			13			32
Comprehensive income including noncontrolling interests		1,034			958			2,566			1,932
Comprehensive income (loss) attributable to noncontrolling interests		22			—			122			—
Comprehensive income attributable to Dominion Energy	$	1,012		$	958		$	2,444		$	1,932

(1) Net of $2 million and $3 million tax for the three months ended September 30, 2025 and 2024, respectively, and net of $7 million and $— million tax for the nine months ended September 30, 2025 and 2024, respectively.

(2) Net of $(5) million and $(15) million tax for the three months ended September 30, 2025 and 2024, respectively, and net of $(13) million and $(5) million tax for the nine months ended September 30, 2025 and 2024, respectively.

(3) Net of $— million and $— million tax for the three months ended September 30, 2025 and 2024, respectively, and net of $— million and $— million tax for the nine months ended September 30, 2025 and 2024, respectively.

(4) Net of $(3) million and $(3) million tax for the three months ended September 30, 2025 and 2024, respectively, and net of $(8) million and $(9) million tax for the nine months ended September 30, 2025 and 2024, respectively.

(5) Net of $— million and $1 million tax for the three months ended September 30, 2025 and 2024, respectively, and net of $(1) million and $(1) million tax for the nine months ended September 30, 2025 and 2024, respectively.

(6) Net of $— million and $1 million tax for the three months ended September 30, 2025 and 2024, respectively, and net of $1 million and $4 million tax for the nine months ended September 30, 2025 and 2024, respectively.

The accompanying notes are an integral part of Dominion Energy’s Consolidated Financial Statements.

8

DOMINION ENERGY, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

	September 30, 2025			December 31, 2024(1)
(millions)
ASSETS
Current Assets
Cash and cash equivalents(2)	$	932		$	310
Customer receivables (less allowance for doubtful accounts of $30 at both dates)(2)		2,285			2,169
Other receivables (less allowance for doubtful accounts of $3 and $2)		253			358
Inventories		1,894			1,764
Regulatory assets(2)		1,430			992
Derivative assets		286			436
Prepayments(2)		802			315
Other(2)		340			269
Total current assets		8,222			6,613
Investments
Nuclear decommissioning trust funds		8,945			8,051
Investment in equity method affiliates		138			138
Other		373			361
Total investments		9,456			8,550
Property, Plant and Equipment
Property, plant and equipment(2)		103,076			94,844
Accumulated depreciation and amortization		(27,266	)		(25,982	)
Total property, plant and equipment, net		75,810			68,862
Deferred Charges and Other Assets
Goodwill		4,143			4,143
Regulatory assets(2)		8,012			8,288
Derivative assets		464			963
Intangible assets, net		1,455			1,136
Other(2)		4,035			3,860
Total deferred charges and other assets		18,109			18,390
Total assets	$	111,597		$	102,415

(1) Dominion Energy’s Consolidated Balance Sheet at December 31, 2024 has been derived from the audited Consolidated Balance Sheet at that date.

(2) See Note 15 for amounts attributable to VIEs.

The accompanying notes are an integral part of Dominion Energy’s Consolidated Financial Statements.

9

DOMINION ENERGY, INC.

CONSOLIDATED BALANCE SHEETS—(Continued)

(Unaudited)

	September 30, 2025			December 31, 2024(1)
(millions)
LIABILITIES AND EQUITY
Current Liabilities
Securities due within one year(2)	$	2,736		$	1,725
Short-term debt		2,522			2,500
Accounts payable(2)		1,007			1,149
Accrued interest, payroll and taxes(2)		1,209			1,045
Derivative liabilities		69			207
Regulatory liabilities		533			579
Supplemental credit facility borrowings		—			—
Other(2)(3)		1,655			2,084
Total current liabilities		9,731			9,289
Long-Term Debt
Long-term debt		37,179			33,034
Securitization bonds(2)		969			1,054
Junior subordinated notes		4,731			3,223
Supplemental credit facility borrowings		—			—
Other		412			214
Total long-term debt		43,291			37,525
Deferred Credits and Other Liabilities
Deferred income taxes		7,744			7,135
Deferred investment tax credits		1,380			1,070
Regulatory liabilities		8,768			8,761
Derivative liabilities		198			305
Other(2)		8,759			8,528
Total deferred credits and other liabilities		26,849			25,799
Total liabilities		79,871			72,613
Commitments and Contingencies (see Note 17)
Equity
Preferred stock (see Note 16)		991			991
Common stock – no par(4)		24,506			24,383
Retained earnings		2,333			1,641
Accumulated other comprehensive loss		(139	)		(152	)
Shareholders’ equity		27,691			26,863
Noncontrolling interests		4,035			2,939
Total equity		31,726			29,802
Total liabilities and equity	$	111,597		$	102,415

(1) Dominion Energy’s Consolidated Balance Sheet at December 31, 2024 has been derived from the audited Consolidated Balance Sheet at that date.

(2) See Note 15 for amounts attributable to VIEs.

(3) See Note 10 for amounts attributable to related parties.

(4) 1.8 billion shares authorized; 854 million and 852 million shares outstanding at September 30, 2025 and December 31, 2024, respectively.

The accompanying notes are an integral part of Dominion Energy’s Consolidated Financial Statements.

10

DOMINION ENERGY, INC.

CONSOLIDATED STATEMENTS OF EQUITY

(Unaudited)

QUARTER-TO-DATE

	Preferred Stock				Common Stock
	Shares		Amount		Shares		Amount			Retained Earnings			AOCI			Shareholders’ Equity			Noncontrolling Interests			Total Equity
(millions, except per share amounts)
June 30, 2024		1	$	1,348		839	$	23,809		$	1,724		$	(164	)	$	26,717		$	—		$	26,717
Net income including noncontrolling interests											934						934			—			934
Issuance of stock						1		35									35						35
Stock awards (net of change in unearned    compensation)						—		9									9						9
Preferred stock dividends (see Note 16)											(15	)					(15	)					(15	)
Common stock dividends ($0.6675    per common share) and distributions											(559	)					(559	)		—			(559	)
Other comprehensive income (loss), net of tax														24			24						24
Other								1									1						1
September 30, 2024		1	$	1,348		840	$	23,854		$	2,084		$	(140	)	$	27,146		$	—		$	27,146
June 30, 2025		1	$	991		853	$	24,463		$	1,906		$	(145	)	$	27,215		$	3,657		$	30,872
Net income including noncontrolling interests											1,006						1,006			22			1,028
Issuance of stock						1		35									35						35
Stock awards (net of change in unearned    compensation)						—		9									9						9
Contributions from Stonepeak to OSWP																				417			417
Distributions from OSWP to Stonepeak																				(61	)		(61	)
Preferred stock dividends (see Note 16)											(11	)					(11	)					(11	)
Common stock dividends ($0.6675    per common share) and distributions											(570	)					(570	)		—			(570	)
Other comprehensive income (loss), net of tax														6			6						6
Other								(1	)		2						1			—			1
September 30, 2025		1	$	991		854	$	24,506		$	2,333		$	(139	)	$	27,691		$	4,035		$	31,726

The accompanying notes are an integral part of Dominion Energy’s Consolidated Financial Statements.

11

DOMINION ENERGY, INC.

CONSOLIDATED STATEMENTS OF EQUITY

(Unaudited)

YEAR-TO-DATE

	Preferred Stock						Common Stock
	Shares			Amount			Shares		Amount			Retained Earnings			AOCI			Shareholders’ Equity			Noncontrolling Interests			Total Equity
(millions, except per share amounts)
December 31, 2023		2		$	1,783			838	$	23,728		$	1,925		$	(172	)	$	27,264		$	—		$	27,264
Net income including noncontrolling    interests													1,900						1,900			—			1,900
Issuance of stock								2		102									102						102
Stock awards (net of change in    unearned compensation)								—		24									24						24
Repurchase of preferred stock		(1	)		(435	)													(435	)					(435	)
Preferred stock dividends (see    Note 16)													(63	)					(63	)					(63	)
Common stock dividends ($2.0025    per common share) and    distributions													(1,678	)					(1,678	)		—			(1,678	)
Other comprehensive income (loss), net of    tax																32			32						32
September 30, 2024		1		$	1,348			840	$	23,854		$	2,084		$	(140	)	$	27,146		$	—		$	27,146
December 31, 2024		1		$	991			852	$	24,383		$	1,641		$	(152	)	$	26,863		$	2,939		$	29,802
Net income including noncontrolling    interests													2,431						2,431			122			2,553
Issuance of stock								2		105									105						105
Stock awards (net of change in    unearned compensation)								—		25									25						25
Sale of noncontrolling interest in OSWP										(7	)								(7	)					(7	)
Contributions from Stonepeak to OSWP																						1,141			1,141
Distributions from OSWP to Stonepeak																						(167	)		(167	)
Preferred stock dividends (see    Note 16)													(33	)					(33	)					(33	)
Common stock dividends ($2.0025    per common share) and    distributions													(1,708	)					(1,708	)		—			(1,708	)
Other comprehensive income (loss), net of    tax																13			13						13
Other													2						2			—			2
September 30, 2025		1		$	991			854	$	24,506		$	2,333		$	(139	)	$	27,691		$	4,035		$	31,726

The accompanying notes are an integral part of Dominion Energy’s Consolidated Financial Statements.

12

DOMINION ENERGY, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Nine Months Ended September 30,	2025			2024
(millions)
Operating Activities
Net income including noncontrolling interests	$	2,553		$	1,900
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities:
Depreciation, depletion and amortization (including nuclear fuel)		2,002			2,014
Deferred income taxes		455			(281	)
Deferred investment tax benefits		281			(23	)
Impairment of assets and other charges		225			251
Losses from East Ohio, Questar Gas and PSNC Transactions		—			138
Net (gains) losses on nuclear decommissioning trust funds and other investments		(442	)		(589	)
Other adjustments		(35	)		60
Changes in:
Accounts receivable		(63	)		379
Inventories		(124	)		(47	)
Deferred fuel and purchased gas costs, net		(493	)		768
Prepayments and deposits, net		(545	)		(14	)
Accounts payable		(42	)		(27	)
Accrued interest, payroll and taxes		188			224
Net realized and unrealized changes related to derivative activities		551			(34	)
Pension and other postretirement benefits		(205	)		(126	)
Other operating assets and liabilities		68			(216	)
Net cash provided by operating activities		4,374			4,377
Investing Activities
Plant construction and other property additions (including nuclear fuel)		(9,255	)		(8,719	)
Acquisition of solar development projects		(12	)		(202	)
Proceeds from East Ohio, Questar Gas and PSNC Transactions		2			9,237
Proceeds from sales of securities		2,563			2,230
Purchases of securities		(2,670	)		(2,350	)
Contributions to equity method affiliates		(20	)		(14	)
Distributions from equity method affiliates		—			126
Other		(109	)		(15	)
Net cash provided by (used in) investing activities		(9,501	)		293
Financing Activities
Issuance (repayment) of short-term debt, net		22			148
364-day term loan facility borrowings		—			3,000
Repayment of 364-day term loan facility borrowings		—			(7,750	)
Issuance and remarketing of long-term debt		7,647			4,743
Repayment and repurchase of long-term debt		(972	)		(1,884	)
Issuance of securitization bonds		—			1,282
Repayment of securitization bonds		(80	)		—
Supplemental credit facility repayments		—			(450	)
Proceeds from sale of noncontrolling interest in OSWP		(88	)		—
Contributions from Stonepeak to OSWP		1,141			—
Distributions from OSWP to Stonepeak		(167	)		—
Repurchase of preferred stock		—			(440	)
Issuance of common stock		105			102
Common dividend payments		(1,708	)		(1,678	)
Other		(72	)		(142	)
Net cash provided by (used in) financing activities		5,828			(3,069	)
Increase in cash, restricted cash and equivalents		701			1,601
Cash, restricted cash and equivalents at beginning of period		365			301
Cash, restricted cash and equivalents at end of period	$	1,066		$	1,902

See Note 2 for disclosure of supplemental cash flow information.

The accompanying notes are an integral part of Dominion Energy’s Consolidated Financial Statements.

13

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
(millions)
Operating Revenue(1)	$	3,311	$	2,762	$	8,788	$	7,788
Operating Expenses
Electric fuel and other energy-related purchases(1)		1,071		690		2,569		2,098
Purchased electric capacity		32		24		56		53
Other operations and maintenance:
Affiliated suppliers		127		110		386		325
Other		450		464		1,354		1,300
Depreciation and amortization		418		375		1,212		1,268
Other taxes		93		83		282		248
Impairment of assets and other charges (benefits)		129		40		225		38
Total operating expenses		2,320		1,786		6,084		5,330
Income from operations		991		976		2,704		2,458
Other income (expense)		85		59		191		162
Interest and related charges(1)		235		239		729		633
Income before income tax expense		841		796		2,166		1,987
Income tax expense		151		146		356		399
Net Income Including Noncontrolling Interests		690		650		1,810		1,588
Noncontrolling Interests		22		—		122		—
Net Income Attributable to Virginia Power	$	668	$	650	$	1,688	$	1,588

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

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

14

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
(millions)
Net income including noncontrolling interests	$	690		$	650		$	1,810		$	1,588
Other comprehensive income (loss), net of taxes:
Net deferred gains (losses) on derivatives-hedging activities(1)		(2	)		(7	)		(7	)		2
Changes in unrealized net gains (losses) on investment securities(2)		1			5			1			1
Amounts reclassified to net income:
Net realized (gains) losses on investment securities(3)		—			(1	)		—			1
Total other comprehensive income (loss)		(1	)		(3	)		(6	)		4
Comprehensive income including noncontrolling interests		689			647			1,804			1,592
Comprehensive income (loss) attributable to noncontrolling interests		22			—			122			—
Comprehensive income attributable to Virginia Power	$	667		$	647		$	1,682		$	1,592

(1)Net of $— million and $3 million tax for the three months ended September 30, 2025 and 2024, respectively, and net of $2 million and $— million tax for the nine months ended September 30, 2025 and 2024, respectively.

(2)Net of $(1) million and $(3) million tax for the three months ended September 30, 2025 and 2024, respectively, and net of $(1) million and $(2) million tax for the nine months ended September 30, 2025 and 2024, respectively.

(3)Net of $— million and $(1) million tax for the three months ended September 30, 2025 and 2024, respectively, and net of $— million and $(1) million tax for the nine months ended September 30, 2025 and 2024, respectively.

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

15

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED BALANCE SHEETS

(Unaudited)

	September 30, 2025			December 31, 2024(1)
(millions)
ASSETS
Current Assets
Cash and cash equivalents(2)	$	646		$	160
Customer receivables (less allowance for doubtful accounts of $21 and $23)(2)		1,759			1,612
Other receivables (less allowance for doubtful accounts of $3 and $2)		112			168
Affiliated receivables		53			27
Inventories (average cost method)		1,213			1,148
Derivative assets(3)		192			248
Regulatory assets(2)		1,140			697
Other(2)		261			194
Total current assets		5,376			4,254
Investments
Nuclear decommissioning trust funds		4,745			4,286
Other		4			4
Total investments		4,749			4,290
Property, Plant and Equipment
Property, plant and equipment(2)		77,185			70,550
Accumulated depreciation and amortization		(18,996	)		(18,033	)
Total property, plant and equipment, net		58,189			52,517
Deferred Charges and Other Assets
Derivative assets(3)		112			127
Regulatory assets(2)		4,283			4,537
Other(2)(3)		3,196			2,662
Total deferred charges and other assets		7,591			7,326
Total assets	$	75,905		$	68,387

(1)Virginia Power’s Consolidated Balance Sheet at December 31, 2024 has been derived from the audited Consolidated Balance Sheet at that date.

(2)See Note 15 for amounts attributable to VIEs.

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

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

16

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED BALANCE SHEETS—(Continued)

(Unaudited)

	September 30, 2025		December 31, 2024(1)
(millions)
LIABILITIES AND EQUITY
Current Liabilities
Securities due within one year(2)	$	959	$	548
Short-term debt		—		950
Accounts payable(2)		655		660
Payables to affiliates		127		133
Accrued dividend(3)		—		407
Affiliated current borrowings		—		500
Accrued interest, payroll and taxes(2)		509		366
Regulatory liabilities		358		385
Derivative liabilities(3)		28		139
Other(2)(3)		1,382		1,549
Total current liabilities		4,018		5,637
Long-Term Debt
Long-term debt		21,048		18,874
Securitization bonds(2)		969		1,054
Other		145		110
Total long-term debt		22,162		20,038
Deferred Credits and Other Liabilities
Deferred income taxes		4,852		4,476
Deferred investment tax credits		622		640
Regulatory liabilities		6,236		6,139
Derivative liabilities(3)		62		86
Other(2)(3)		6,585		6,275
Total deferred credits and other liabilities		18,357		17,616
Total liabilities		44,537		43,291
Commitments and Contingencies (see Note 17)
Equity
Common stock – no par(4)		12,487		8,987
Other paid-in capital		999		1,006
Retained earnings		13,825		12,136
Accumulated other comprehensive income		22		28
Shareholder’s equity		27,333		22,157
Noncontrolling interests		4,035		2,939
Total equity		31,368		25,096
Total liabilities and equity	$	75,905	$	68,387

(1)Virginia Power’s Consolidated Balance Sheet at December 31, 2024 has been derived from the audited Consolidated Balance Sheet at that date.

(2)See Note 15 for amounts attributable to VIEs.

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

(4)500,000 shares authorized; 373,881 and 324,245 shares outstanding at September 30, 2025 and December 31, 2024, respectively.

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

17

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED STATEMENTS OF EQUITY

(Unaudited)

QUARTER-TO-DATE

	Common Stock
	Shares		Amount		Other Paid-In Capital		Retained Earnings			AOCI			Shareholder's Equity			Noncontrolling  Interests			Total Equity
(millions, except for shares)	(thousands)
June 30, 2024		324	$	8,987	$	1,113	$	12,185		$	24		$	22,309		$	—		$	22,309
Net income								650						650						650
Other comprehensive    income (loss), net of tax											(3	)		(3	)					(3	)
Other								(1	)					(1	)					(1	)
September 30, 2024		324	$	8,987	$	1,113	$	12,834		$	21		$	22,955		$	—		$	22,955
June 30, 2025		354	$	11,087	$	999	$	13,156		$	23		$	25,265		$	3,657		$	28,922
Net income including     noncontrolling interests								668						668			22			690
Issuance of stock to     Dominion Energy	20			1,400										1,400						1,400
Contributions from     Stonepeak to OSWP																	417			417
Distributions from     OSWP to Stonepeak																	(61	)		(61	)
Other comprehensive    income (loss), net of tax											(1	)		(1	)					(1	)
Other								1						1						1
September 30, 2025		374	$	12,487	$	999	$	13,825		$	22		$	27,333		$	4,035		$	31,368

YEAR-TO-DATE

	Common Stock
	Shares		Amount		Other Paid-In Capital			Retained Earnings			AOCI			Shareholder's Equity			Noncontrolling Interests			Total Equity
(millions, except for shares)	(thousands)
December 31, 2023		324	$	8,987	$	1,113		$	11,496		$	17		$	21,613		$	—		$	21,613
Net income									1,588						1,588						1,588
Dividends									(250	)					(250	)					(250	)
Other comprehensive    income (loss), net of tax												4			4						4
September 30, 2024		324	$	8,987	$	1,113		$	12,834		$	21		$	22,955		$	—		$	22,955
December 31, 2024		324	$	8,987	$	1,006		$	12,136		$	28		$	22,157		$	2,939		$	25,096
Net income including     noncontrolling interests									1,688						1,688			122			1,810
Issuance of stock to     Dominion Energy	50			3,500											3,500						3,500
Sale of noncontrolling     interest in OSWP						(7	)								(7	)					(7	)
Contributions from     Stonepeak to OSWP																		1,141			1,141
Distributions from     OSWP to Stonepeak																		(167	)		(167	)
Other comprehensive    income (loss), net of tax												(6	)		(6	)					(6	)
Other									1						1						1
September 30, 2025		374	$	12,487	$	999		$	13,825		$	22		$	27,333		$	4,035		$	31,368

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

18

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Nine Months Ended September 30,	2025			2024
(millions)
Operating Activities
Net income including noncontrolling interests	$	1,810		$	1,588
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities:
Depreciation and amortization (including nuclear fuel)		1,337			1,386
Deferred income taxes		225			381
Deferred investment tax benefits		(18	)		(11	)
Impairment of assets and other charges (benefits)		225			37
Net (gains) losses on nuclear decommissioning trust funds and other investments		(65	)		(85	)
Other adjustments		(71	)		(20	)
Changes in:
Accounts receivable		(129	)		89
Affiliated receivables and payables		(32	)		(38	)
Inventories		(66	)		(41	)
Prepayments and deposits, net		(59	)		11
Deferred fuel expenses, net		(464	)		345
Accounts payable		64			41
Accrued interest, payroll and taxes		143			200
Net realized and unrealized changes related to derivative activities		95			136
Other operating assets and liabilities		323			(84	)
Net cash provided by operating activities		3,318			3,935
Investing Activities
Plant construction and other property additions		(7,531	)		(6,885	)
Purchases of nuclear fuel		(147	)		(122	)
Acquisition of solar development projects		(12	)		(27	)
Proceeds from sales of securities		1,412			1,370
Purchases of securities		(1,473	)		(1,449	)
Other		(78	)		(25	)
Net cash used in investing activities		(7,829	)		(7,138	)
Financing Activities
Issuance (repayment) of short-term debt, net		(950	)		285
Issuance (repayment) of affiliated current borrowings, net		(500	)		133
Issuance and remarketing of long-term debt		3,172			2,443
Repayment and repurchase of long-term debt		(572	)		(593	)
Issuance of securitization bonds		—			1,282
Repayment of securitization bonds		(80	)		—
Proceeds from sale of noncontrolling interest in OSWP		(88	)		—
Contributions from Stonepeak to OSWP		1,141			—
Distributions from OSWP to Stonepeak		(167	)		—
Issuance of common stock		3,500			—
Common dividend payments to parent		(407	)		(250	)
Other		27			(55	)
Net cash provided by financing activities		5,076			3,245
Increase in cash, restricted cash and equivalents		565			42
Cash, restricted cash and equivalents at beginning of period		206			90
Cash, restricted cash and equivalents at end of period	$	771		$	132

See Note 2 for disclosure of supplemental cash flow information.

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

19

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Note 1. Nature of Operations

Dominion Energy, headquartered in Richmond, Virginia, is one of the nation’s leading developers and operators of regulated offshore wind and solar power and the largest producer of carbon-free electricity in New England, and serves primarily electric utility customers in Virginia, North Carolina and South Carolina through its subsidiaries, Virginia Power and DESC. Dominion Energy also has nonregulated operations that consist primarily of long-term contracted electric generation operations.

Virginia Power is a regulated public utility that generates, transmits and distributes electricity for sale in Virginia and North Carolina. Virginia Power is a member of PJM, an RTO, and its electric transmission facilities are integrated into the PJM wholesale electricity markets. All of Virginia Power’s stock is owned by Dominion Energy.

Note 2. Significant Accounting Policies

As permitted by the rules and regulations of the SEC, the Companies’ accompanying unaudited Consolidated Financial Statements contain certain condensed financial information and exclude certain footnote disclosures normally included in annual audited consolidated financial statements prepared in accordance with GAAP. These unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024.

In the Companies’ opinion, the accompanying unaudited Consolidated Financial Statements contain all adjustments necessary to present fairly their financial position at September 30, 2025, their results of operations and changes in equity for the three and nine months ended September 30, 2025 and 2024 and their cash flows for the nine months ended September 30, 2025 and 2024. Such adjustments are normal and recurring in nature unless otherwise noted.

The Companies make certain estimates and assumptions in preparing their Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates.

The Companies’ accompanying unaudited Consolidated Financial Statements include, after eliminating intercompany transactions and balances, their accounts, those of their respective majority-owned subsidiaries and non-wholly-owned entities in which they have a controlling financial interest. For certain partnership structures, income is allocated based on the liquidation value of the underlying contractual arrangements. Stonepeak’s 50% ownership interest in OSWP is reflected as noncontrolling interest in the Companies’ Consolidated Financial Statements.

The results of operations for interim periods are not necessarily indicative of the results expected for the full year. Information for quarterly periods is affected by seasonal variations in sales, rate changes, electric fuel and other energy-related purchases, purchased gas expenses and other factors.

Certain amounts in the Companies’ 2024 Consolidated Financial Statements and Notes have been reclassified to conform to the 2025 presentation for comparative purposes; however, such reclassifications did not affect the Companies’ net income, total assets, liabilities, equity or cash flows.

Amounts disclosed for Dominion Energy are inclusive of Virginia Power, where applicable. There have been no significant changes from Note 2 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024, with the exception of the items described below.

Revision of Previously Issued Consolidated Financial Statements

During the second quarter of 2025, the Companies identified misstatements in their previously issued consolidated financial statements related to income taxes associated with investments held within their qualified nuclear decommissioning trusts, primarily a net understatement of deferred income taxes associated with unrealized gains and losses (reflected in the Corporate and Other segment and attributable to Contracted Energy and Dominion Energy Virginia). The Companies assessed the impacts of the misstatements from both quantitative and qualitative perspectives and determined that the related impacts were not material to any of the Companies' previously issued consolidated financial statements.

As a result, the Companies will revise their previously issued consolidated financial statements. Accordingly, all consolidated financial information contained in these consolidated financial statements and the accompanying notes has been revised to reflect the correction. The Companies will present the revision of their previously issued consolidated financial statements for the years ended December 31, 2024 and 2023 in connection with the future filing of their Annual Report on Form 10-K for the year ended December 31, 2025. Additionally, the Companies will present the revision of their previously issued consolidated financial statements for the three months ended March 31, 2025 in connection with the future filing of their Quarterly Report on Form 10-Q for the three months ended March 31, 2026.

20

The following tables detail the impact of the restatement adjustment to each affected line item in the Companies' Consolidated Statements of Income and Statements of Comprehensive Income for the periods presented:

	Dominion Energy
	Quarter-to-Date							Year-to-Date
Period Ended September 30, 2024	As Previously Reported		Adjustments			As Revised		As Previously Reported		Adjustments			As Revised
(millions, except per share amounts)
Other income (expense)	$	343	$	5		$	348	$	700	$	14		$	714
Interest and related charges		403		1			404		1,446		3			1,449
Income from continuing operations including      noncontrolling interests before income tax expense		1,158		4			1,162		2,110		11			2,121
Income tax expense		185		28			213		331		90			421
Net Income From Continuing Operations Including      Noncontrolling Interests		973		(24	)		949		1,779		(79	)		1,700
Net Income Including Noncontrolling Interests		958		(24	)		934		1,979		(79	)		1,900
Net Income Attributable to Dominion Energy		958		(24	)		934		1,979		(79	)		1,900
Amounts Attributable to Dominion Energy
Net income from continuing operations		973		(24	)		949		1,779		(79	)		1,700
Net income attributable to Dominion Energy		958		(24	)		934		1,979		(79	)		1,900
EPS - Basic
Net income from continuing operations		1.14		(0.03	)		1.11		2.05		(0.10	)		1.95
Net income attributable to Dominion Energy		1.12		(0.03	)		1.09		2.29		(0.10	)		2.19
EPS - Diluted
Net income from continuing operations		1.14		(0.03	)		1.11		2.05		(0.10	)		1.95
Net income attributable to Dominion Energy		1.12		(0.03	)		1.09		2.29		(0.10	)		2.19
Comprehensive Income
Changes in unrealized net gains (losses) on investment      securities(1)		32		(5	)		27		13		(3	)		10
Total other comprehensive income (loss)		29		(5	)		24		35		(3	)		32
Comprehensive income including noncontrolling interests		987		(29	)		958		2,014		(82	)		1,932
Comprehensive income attributable to Dominion Energy		987		(29	)		958		2,014		(82	)		1,932

(1)As previously reported, net of $(10) million and $(2) million tax for the three and nine months ended September 30, 2024, respectively. As revised, net of $(15) million ($(5) million adjustment) and $(5) million ($(3) million adjustment) tax for the three and nine months ended September 30, 2024, respectively.

	Virginia Power
	Quarter-to-Date									Year-to-Date
Period Ended September 30, 2024	As Previously Reported			Adjustments			As Revised			As Previously Reported		Adjustments			As Revised
(millions)
Other income (expense)	$	58		$	1		$	59		$	159	$	3		$	162
Interest and related charges		239			—			239			633		—			633
Income before income tax expense		795			1			796			1,984		3			1,987
Income tax expense		141			5			146			386		13			399
Net Income Including Noncontrolling Interests		654			(4	)		650			1,598		(10	)		1,588
Net Income Attributable to Virginia Power		654			(4	)		650			1,598		(10	)		1,588
Comprehensive Income
Changes in unrealized net gains (losses) on investment      securities(1)		6			(1	)		5			2		(1	)		1
Total other comprehensive income (loss)		(2	)		(1	)		(3	)		5		(1	)		4
Comprehensive income including noncontrolling interests		652			(5	)		647			1,603		(11	)		1,592
Comprehensive income attributable to Virginia Power		652			(5	)		647			1,603		(11	)		1,592

(1)As previously reported, net of $(2) million and $(1) million tax for the three and nine months ended September 30, 2024, respectively. As revised, net of $(3) million ($(1) million adjustment) and $(2) million ($(1) million adjustment) tax for the three and nine months ended September 30, 2024, respectively.

21

The following table details the impact of the restatement adjustment to each affected line item in the Companies' Consolidated Balance Sheets for the periods presented:

	Dominion Energy									Virginia Power
December 31, 2024	As Previously Reported			Adjustments			As Revised			As Previously Reported		Adjustments			As Revised
(millions)
Deferred income taxes	$	6,412		$	723		$	7,135		$	4,045	$	431		$	4,476
Regulatory liabilities - noncurrent		9,196			(435	)		8,761			6,574		(435	)		6,139
Other deferred credits and other liabilities		8,426			102			8,528			6,214		61			6,275
Total deferred credits and other liabilities		25,409			390			25,799			17,559		57			17,616
Total liabilities		72,223			390			72,613			43,234		57			43,291
Retained earnings		2,035			(394	)		1,641			12,194		(58	)		12,136
Accumulated other comprehensive income (loss)		(156	)		4			(152	)		27		1			28
Shareholders' equity		27,253			(390	)		26,863			22,214		(57	)		22,157
Total equity		30,192			(390	)		29,802			25,153		(57	)		25,096

The following table details the impact of the restatement adjustment to each affected line item in the Companies' Consolidated Statements of Equity for the periods presented:

	Dominion Energy									Virginia Power
Three Months Ended September 30, 2024	As Previously Reported			Adjustments			As Revised			As Previously Reported			Adjustments			As Revised
(millions)
Retained earnings
Balance at June 30, 2024	$	2,083		$	(359	)	$	1,724		$	12,236		$	(51	)	$	12,185
Net income including noncontrolling interests		958			(24	)		934			654			(4	)		650
Balance at September 30, 2024		2,467			(383	)		2,084			12,889			(55	)		12,834
Accumulated other comprehensive income (loss)
Balance at June 30, 2024		(167	)		3			(164	)		23			1			24
Other comprehensive income (loss), net of tax		29			(5	)		24			(2	)		(1	)		(3	)
Balance at September 30, 2024		(138	)		(2	)		(140	)		21			—			21
Shareholders' equity
Balance at June 30, 2024		27,073			(356	)		26,717			22,359			(50	)		22,309
Net income including noncontrolling interests		958			(24	)		934			654			(4	)		650
Other comprehensive income (loss), net of tax		29			(5	)		24			(2	)		(1	)		(3	)
Balance at September 30, 2024		27,531			(385	)		27,146			23,010			(55	)		22,955
Total equity
Balance at June 30, 2024		27,073			(356	)		26,717			22,359			(50	)		22,309
Net income including noncontrolling interests		958			(24	)		934			654			(4	)		650
Other comprehensive income (loss), net of tax		29			(5	)		24			(2	)		(1	)		(3	)
Balance at September 30, 2024		27,531			(385	)		27,146			23,010			(55	)		22,955

22

	Dominion Energy									Virginia Power
Nine Months Ended September 30, 2024	As Previously Reported			Adjustments			As Revised			As Previously Reported		Adjustments			As Revised
(millions)
Retained earnings
Balance at December 31, 2023	$	2,229		$	(304	)	$	1,925		$	11,541	$	(45	)	$	11,496
Net income including noncontrolling interests		1,979			(79	)		1,900			1,598		(10	)		1,588
Balance at September 30, 2024		2,467			(383	)		2,084			12,889		(55	)		12,834
Accumulated other comprehensive income (loss)
Balance at December 31, 2023		(173	)		1			(172	)		16		1			17
Other comprehensive income (loss), net of tax		35			(3	)		32			5		(1	)		4
Balance at September 30, 2024		(138	)		(2	)		(140	)		21		—			21
Shareholders' equity
Balance at December 31, 2023		27,567			(303	)		27,264			21,657		(44	)		21,613
Net income including noncontrolling interests		1,979			(79	)		1,900			1,598		(10	)		1,588
Other comprehensive income (loss), net of tax		35			(3	)		32			5		(1	)		4
Balance at September 30, 2024		27,531			(385	)		27,146			23,010		(55	)		22,955
Total equity
Balance at December 31, 2023		27,567			(303	)		27,264			21,657		(44	)		21,613
Net income including noncontrolling interests		1,979			(79	)		1,900			1,598		(10	)		1,588
Other comprehensive income (loss), net of tax		35			(3	)		32			5		(1	)		4
Balance at September 30, 2024		27,531			(385	)		27,146			23,010		(55	)		22,955

The following table details the impact of the restatement adjustment to each affected line item in the Companies' Consolidated Statements of Cash Flows for the periods presented:

	Dominion Energy									Virginia Power
Nine Months Ended September 30, 2024	As Previously Reported			Adjustments			As Revised			As Previously Reported			Adjustments			As Revised
(millions)
Net income including noncontrolling interests	$	1,979		$	(79	)	$	1,900		$	1,598		$	(10	)	$	1,588
Operating Activities
Deferred income taxes		(346	)		65			(281	)		381			—			381
Other operating assets and liabilities		(230	)		14			(216	)		(94	)		10			(84	)
Net cash provided by operating activities		4,377			—			4,377			3,935			—			3,935

23

Cash, Restricted Cash and Equivalents

Restricted Cash and Equivalents

The following table provides a reconciliation of the total cash, restricted cash and equivalents reported within the Companies’ Consolidated Balance Sheets to the corresponding amounts reported within the Companies’ Consolidated Statements of Cash Flows for the nine months ended September 30, 2025 and 2024:

	Cash, Restricted Cash and Equivalents at End of Period				Cash, Restricted Cash and Equivalents at Beginning of Period
	September 30, 2025		September 30, 2024		December 31, 2024		December 31, 2023
(millions)
Dominion Energy
Cash and cash     equivalents(1)	$	932	$	1,776	$	310	$	217
Restricted cash and    equivalents(2)(3)(4)		134		126		55		84
Cash, restricted    cash and    equivalents    shown in the    Consolidated    Statements of    Cash Flows	$	1,066	$	1,902	$	365	$	301
Virginia Power
Cash and cash     equivalents	$	646	$	28	$	160	$	90
Restricted cash and    equivalents(3)(4)		125		104		46		—
Cash, restricted    cash and    equivalents    shown in the    Consolidated    Statements of    Cash Flows	$	771	$	132	$	206	$	90

(1)At December 31, 2023, Dominion Energy had $33 million of cash and cash equivalents included in assets held for sale.

(2)At December 31, 2023, Dominion Energy had $4 million of restricted cash and equivalents included in assets held for sale.

(3)Includes $115 million, $41 million and $100 million at VPFS attributable to VIEs at September 30, 2025, December 31, 2024 and September 30, 2024, respectively.

(4)Unless otherwise noted, restricted cash and equivalents balances are presented within other current assets in the Companies’ Consolidated Balance Sheets.

Supplemental Cash Flow Information

The following table provides supplemental disclosure of cash flow information related to Dominion Energy:

Nine Months Ended September 30,	2025		2024
(millions)
Significant noncash investing    and financing activities:(1)
Accrued capital expenditures	$	891	$	930
Leases(2)		315		183

(1)See Note 3 for noncash financing activities related to debt assumed with the closing of the East Ohio, Questar Gas and PSNC Transactions.

(2)Includes $281 million and $100 million of financing leases entered in during the nine months ended September 30, 2025 and 2024, respectively, and $34 million and $83 million of operating leases entered in during the nine months ended September 30, 2025 and 2024, respectively.

The following table provides supplemental disclosure of cash flow information related to Virginia Power:

Nine Months Ended September 30,	2025		2024
(millions)
Significant noncash investing    and financing activities:
Accrued capital expenditures	$	727	$	738
Leases(1)		317		156

(1)Includes $62 million and $89 million of financing leases entered in during the nine months ended September 30, 2025 and 2024, respectively, and $255 million and $67 million of operating leases entered in during the nine months ended September 30, 2025 and 2024, respectively.

Property, Plant and Equipment

Virginia Power recorded a $25 million ($18 million after-tax) charge during the third quarter of 2024 within impairment of assets and other charges in its Consolidated Statements of Income related to the write-off of early-stage development costs associated with a hydroelectric pumped storage facility that it is no longer considering constructing.

Note 3. Acquisitions and Dispositions

Business Review Dispositions

Sale of East Ohio

In September 2023, Dominion Energy entered into an agreement with Enbridge for the East Ohio Transaction, which included the sale of East Ohio and was valued at approximately $6.6 billion, consisting of a purchase price of approximately $4.3 billion in cash and approximately $2.3 billion of assumed indebtedness. The sale closed in March 2024 after all customary closing and regulatory conditions were satisfied, including completion of an internal reorganization, as discussed in Note 3 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024. Dominion Energy utilized the after-tax proceeds, as required, to repay outstanding borrowings under 364-day term loan facilities. See Note 17 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024 for additional information. The purchase

24

price was subject to customary post-closing adjustments, including adjustments for cash, indebtedness, net working capital, capital expenditures and net regulatory assets and liabilities. The transaction was structured as a stock sale for tax purposes.

Dominion Energy retained the pension and other postretirement benefit plan assets and obligations, including related income tax and other deferred balances, associated with retiree participants in both East Ohio’s union pension and other postretirement benefit plans and retiree participants of the sale entities in the Dominion Energy Pension Plan and the Dominion Energy Retiree Health and Welfare Plan. Dominion Energy recognized a pre-tax loss of $97 million ($109 million after-tax) upon the closing of the transaction, including the write-off of $1.5 billion of goodwill which was not deductible for tax purposes and including the effects of final closing adjustments. In 2023, Dominion Energy recorded a charge of $29 million to reflect the recognition of deferred taxes on the outside basis of East Ohio’s stock upon meeting the classification as held for sale. These deferred taxes reversed in the first quarter of 2024 upon closing of the sale and became a component of current income tax expense on the gain/loss on sale disclosed above. See Note 5 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024 for additional information.

At the closing of the East Ohio Transaction, Dominion Energy and Enbridge entered into a transition services agreement as discussed in Note 3 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024.

Sale of PSNC

In September 2023, Dominion Energy entered into an agreement with Enbridge for the PSNC Transaction, which included the sale of PSNC and was valued at approximately $3.3 billion, consisting of a purchase price of $2.0 billion in cash and $1.3 billion of assumed indebtedness. The sale closed in September 2024 after all customary closing and regulatory conditions were satisfied, including completion of an internal reorganization, as discussed in Note 3 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024.

Dominion Energy retained the entirety of the assets and obligations, including related income tax and other deferred balances, of the pension and other postretirement employee benefit plans associated with the operations included in the transaction and relating to services provided through closing. Dominion Energy recognized a pre-tax loss of $34 million ($30 million after-tax loss) upon the closing of the transaction, including the write-off of $0.7 billion of goodwill which is not deductible for tax purposes but excluding the effects of final closing adjustments. In 2023, Dominion Energy recorded a charge of $334 million to reflect the deferred taxes on the outside basis of PSNC’s stock upon meeting the classification as held for sale. Dominion Energy recorded an additional charge of $16 million to adjust these deferred taxes to recorded balances as of June 30, 2024. These deferred taxes reversed in the third quarter of 2024 upon closing of the sale and became a component of current income tax expense. See Note 5 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024 for additional information.

At the closing of the PSNC Transaction, Dominion Energy and Enbridge entered into a transition services agreement as discussed in Note 3 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024.

Sale of Questar Gas and Wexpro

In September 2023, Dominion Energy entered into an agreement with Enbridge for the Questar Gas Transaction, which included the sale of Questar Gas, Wexpro and related affiliates and was valued at approximately $4.3 billion, consisting of a purchase price of approximately $3.0 billion in cash and approximately $1.3 billion of assumed indebtedness. The sale closed in May 2024 after all customary closing and regulatory conditions were satisfied, including completion of an internal reorganization, as discussed in Note 3 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024. Dominion Energy utilized the after-tax proceeds, as required, to repay outstanding borrowings under a 364-day term loan facility. See Note 17 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024 for additional information. The purchase price was subject to customary post-closing adjustments, including adjustments for cash, indebtedness, net working capital, capital expenditures and net regulatory assets and liabilities. The transaction was structured as a stock sale for tax purposes.

Dominion Energy retained the pension and other postretirement benefit plan assets and obligations, including related income tax and other deferred balances, associated with retiree participants in the Dominion Energy Pension Plan and the Dominion Energy Retiree Health and Welfare Plan. Dominion Energy recognized a pre-tax loss of $8 million ($34 million after-tax gain) upon the closing of the transaction, including the write-off of $0.7 billion of goodwill which was not deductible for tax purposes and including the effects of final closing adjustments. In 2023, Dominion Energy recorded a charge of $236 million ($231 million after-tax), including amounts associated with an impairment of goodwill. Based on the recorded balances at March 31, 2024, Dominion Energy recorded an additional charge of $78 million ($78 million after-tax), including amounts associated with an impairment of goodwill, in the first quarter of 2024. Following the internal reorganization noted above and upon closing of the East Ohio Transaction, Dominion Energy recorded a tax benefit of $5 million. In 2023, Dominion Energy recorded a charge of $472 million to reflect the deferred taxes on the outside basis of Questar Gas, Wexpro and related affiliates’ stock upon meeting the classification as held for sale. These deferred taxes reversed in the first quarter of 2024 and became a component of current income tax expense. In addition, Dominion Energy recorded an incremental deferred tax benefit

25

of $10 million to reflect the deferred taxes on the outside basis of Questar Gas, Wexpro and related affiliates’ stock in the first quarter of 2024. These deferred taxes reversed in the second quarter of 2024 upon closing of the sale and became a component of current income tax expense on the pre-tax gain/loss on sale. See Note 5 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024 for additional information.

At the closing of the Questar Gas Transaction, Dominion Energy and Enbridge entered into a transition services agreement as discussed in Note 3 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024.

Other Sales

In April 2024, Dominion Energy completed the sale of Birdseye and the Madison solar project for approximately $17 million in cash and recognized an inconsequential gain as discussed in Note 3 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024.

Financial Statement Information for Business Review Dispositions

The following table represents selected information regarding the results of operations, which were reported within discontinued operations in Dominion Energy’s Consolidated Statements of Income:

	Three Months Ended September 30, 2024			Nine Months Ended September 30, 2024
	PSNC Transaction(1)			East Ohio Transaction(1)			PSNC Transaction(1)		Questar Gas Transaction(1)		Other
(millions)
Operating revenue	$	81		$	229		$	488	$	894	$	—
Operating expense(2)		92			247			313		724		(8	)
Other income (expense)		5			(17	)		11		2		—
Interest and related charges		16			15			44		25		—
Income (loss) before    income taxes		(22	)		(50	)		142		147		8
Income tax expense (benefit)		(9	)		11			44		54		—
Net income (loss) attributable to    Dominion Energy(3)	$	(13	)	$	(61	)	$	98	$	93	$	8

(1)Represents amounts attributable to Dominion Energy prior to the closing of the East Ohio Transaction which closed on March 6, 2024, the PSNC Transaction which closed on September 30, 2024 and the Questar Gas Transaction which closed on May 31, 2024.

(2)East Ohio Transaction includes a charge of $45 million ($33 million after-tax) associated with an increase to certain pension retirement benefits attributable to a plan amendment and a contribution to the defined contribution employee savings plan. See Note 20 for further information on these transactions.

(3)Excludes $2 million and $(71) million of income tax expense (benefit) attributable to consolidated state adjustments for the three and nine months ended September 30, 2024, respectively.

Capital expenditures and significant noncash items relating to the disposal groups included the following:

	Nine Months Ended September 30, 2024
	East Ohio Transaction(1)		PSNC Transaction(1)		Questar Gas Transaction(1)		Other
(millions)
Capital expenditures	$	65	$	287	$	160	$	—
Significant noncash items
Depreciation, depletion and amortization		—		—		—		—
Accrued capital expenditures

(1)Represents amounts attributable to Dominion Energy prior to the closing of the East Ohio Transaction which closed on March 6, 2024, the PSNC Transaction which closed on September 30, 2024 and the Questar Gas Transaction which closed on May 31, 2024.

26

Note 4. Operating Revenue

The Companies’ operating revenue consists of the following:

	Dominion Energy								Virginia Power
	Quarter-to-Date				Year-to-Date				Quarter-to-Date				Year-to-Date
Period Ended September 30,	2025		2024		2025		2024		2025		2024		2025		2024
(millions)
Regulated electric sales:
Residential	$	1,712	$	1,535	$	4,628	$	4,184	$	1,279	$	1,155	$	3,494	$	3,183
Commercial(1)		1,627		1,248		4,211		3,533		1,353		998		3,489		2,851
Industrial		245		216		649		642		130		113		327		330
Government and other retail		344		303		954		812		324		285		900		763
Wholesale		54		39		135		108		41		29		107		82
Nonregulated electric sales		295		239		905		693		40		30		105		69
Regulated gas sales:
Residential		32		30		249		223
Commercial		24		24		105		100
Other		7		15		39		50
Regulated gas transportation and storage		10		6		26		15
Other regulated revenue		100		87		243		293		96		84		230		282
Other nonregulated revenues(2)(3)(4)		60		43		169		111		16		11		38		30
Total operating revenue from contracts    with customers		4,510		3,785		12,313		10,764		3,279		2,705		8,690		7,590
Other revenues(2)(5)		17		156		100		295		32		57		98		198
Total operating revenue	$	4,527	$	3,941	$	12,413	$	11,059	$	3,311	$	2,762	$	8,788	$	7,788

(1)Includes large scale users including certain data center customers.

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

(3)Includes sales of renewable energy credits of $8 million and $10 million for the three months ended September 30, 2025 and 2024, respectively, and $23 million and $22 million for the nine months ended September 30, 2025 and 2024, respectively, at Dominion Energy and $4 million for both the three months ended September 30, 2025 and 2024 and $10 million and $9 million for the nine months ended September 30, 2025 and 2024, respectively, at Virginia Power.

(4)Includes revenue from transition services agreements of $23 million and $17 million for the three months ended September 30, 2025 and 2024, respectively, and $74 million and $34 million for the nine months ended September 30, 2025 and 2024, respectively, at Dominion Energy.

(5)Includes alternative revenue of $35 million and $24 million for the three months ended September 30, 2025 and 2024, respectively, and $117 million and $85 million for the nine months ended September 30, 2025 and 2024, respectively, at both Dominion Energy and Virginia Power.

Neither Dominion Energy nor Virginia Power have any amounts for revenue to be recognized in the future on multi-year contracts in place at September 30, 2025.

At September 30, 2025 and December 31, 2024, Dominion Energy’s contract liability balances were $45 million and $52 million, respectively. At September 30, 2025 and December 31, 2024, Virginia Power’s contract liability balances were $38 million and $46 million, respectively. The Companies’ contract liabilities are recorded in other current liabilities and other deferred credits and liabilities in the 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, 2025 and 2024, Dominion Energy recognized revenue of $50 million and $45 million, respectively, from the beginning contract liability balances. During the nine months ended September 30, 2025 and 2024, Virginia Power recognized $46 million and $40 million, respectively, from the beginning contract liability balances.

27

Note 5. Income Taxes

For continuing operations, including noncontrolling interests, the statutory U.S. federal income tax rate reconciles to the Companies’ effective income tax rate as follows:

	Dominion Energy						Virginia Power
Nine Months Ended September 30,	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		3.9			3.2			4.4			4.4
Investment tax credits		(2.4	)		(1.4	)		(0.8	)		(0.8	)
Production tax credits		(4.7	)		(3.2	)		(4.1	)		(3.0	)
Reversal of excess    deferred income taxes		(1.6	)		(2.7	)		(1.7	)		(1.8	)
Qualified nuclear    decommissioning trust    net gains (losses)		2.5			4.0			0.5			0.6
Remeasurements and     settlements of uncertain     tax positions		(1.0	)		—			—			—
AFUDC - equity		(0.7	)		(0.7	)		(1.0	)		(0.6	)
Absence of tax on     noncontrolling interest		(1.2	)		—			(1.8	)		—
Other, net		(0.1	)		(0.3	)		(0.1	)		0.3
Effective tax rate		15.7	%		19.9	%		16.4	%		20.1	%

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 nine months ended September 30, 2025, Dominion Energy and Virginia Power’s effective tax rate includes a $66 million income tax benefit for the nuclear production tax credit and Dominion Energy’s effective tax rate also includes a $50 million income tax benefit for the clean fuel production tax credit. For the nine months ended September 30, 2024, Virginia Power recorded a $53 million tax benefit which represented a prorated portion of the estimated net realizable value of the nuclear 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.

In September 2025, Virginia Power entered into an agreement and completed the transfer of nuclear production tax credits for which it received cash of $48 million. In October 2025, Virginia Power entered into a separate agreement and completed the transfer of nuclear production tax credits for which it received cash of $24 million. Any discount between the generated credit value and proceeds from transfer is recognized as a reduction in the benefit associated with such tax credits reflected in the Companies’ income tax expense.

As of September 30, 2025, Dominion Energy’s effective tax rate reflects an income tax net benefit of $18 million reflecting a $30 million remeasurement of an unrecognized tax benefit partially deferred to regulatory liabilities. A reconciliation of changes in Dominion Energy’s and Virginia Power’s unrecognized tax benefits follows for the current period:

	Dominion Energy			Virginia Power
(millions)
Balance at January 1, 2025	$	170		$	56
Prior period positions - increases		—			—
Prior period positions - decreases		(38	)		—
Current period positions - increases		3			2
Settlements with tax authorities		—			—
Expiration of statutes of limitations		—			—
Balance at September 30, 2025	$	135		$	58

Discontinued operations

Income tax expense (benefit) reflected in discontinued operations is $(5) million and $31 million for the nine months ended September 30, 2025 and 2024, respectively. See Note 3 for a discussion of tax expense reflected in discontinued operations during the nine months ended September 30, 2024.

28

Note 6. Earnings Per Share

The following table presents the calculation of Dominion Energy’s basic and diluted EPS:

	Quarter-to-Date						Year-to-Date
Period Ended September 30,	2025			2024			2025			2024
(millions, except EPS)
Net income attributable to Dominion Energy from continuing operations	$	1,006		$	949		$	2,431		$	1,700
Preferred stock dividends (see Note 16)		(11	)		(15	)		(33	)		(54	)
Preferred stock deemed dividends (see Note 16)		—			—			—			(9	)
Net income attributable to Dominion Energy from continuing operations - Basic & Diluted		995			934			2,398			1,637
Net income (loss) attributable to Dominion Energy from discontinued operations - Basic &    Diluted	$	—		$	(15	)	$	—		$	200
Average shares of common stock outstanding - Basic		853.5			839.0			852.8			838.3
Net effect of dilutive securities(1)		1.9			0.3			0.8			0.1
Average shares of common stock outstanding - Diluted		855.4			839.3			853.6			838.4
EPS from continuing operations - Basic	$	1.17		$	1.11		$	2.81		$	1.95
EPS from discontinued operations - Basic		—			(0.02	)		—			0.24
EPS attributable to Dominion Energy - Basic	$	1.17		$	1.09		$	2.81		$	2.19
EPS from continuing operations - Diluted	$	1.16		$	1.11		$	2.81		$	1.95
EPS from discontinued operations - Diluted		—			(0.02	)		—			0.24
EPS attributable to Dominion Energy - Diluted	$	1.16		$	1.09		$	2.81		$	2.19

(1)Dilutive securities for three months ended September 30, 2025 consists of forward sales agreements entered into in the first, second and third quarters of 2025 and the third and fourth quarters of 2024 (applying the treasury stock method). Dilutive securities for nine months ended September 30, 2025 consists of forward sales agreement entered into the second and third quarters of 2025 and certain forward sales agreements entered into in the first quarter of 2025 and the third and fourth quarters of 2024 (applying the treasury stock method). Additionally, dilutive securities for the three and nine months ended September 30, 2024 consists of certain of the forward sales agreements entered into in the second and third quarters of 2024 (applying the treasury stock method). See Note 16 for additional information.

Certain of the forward sales agreements entered into in the first quarter of 2025 and third and fourth quarters of 2024 were potentially dilutive securities, but were excluded from the calculation of diluted EPS from continuing operations for the nine months ended September 30, 2025 as the dilutive stock price threshold was not met. Additionally, certain of the forward sales agreements entered into in the second and third quarters of 2024 were potentially dilutive securities but were excluded from the calculation of diluted EPS from continuing operations for the three and nine months ended September 30, 2024 as the dilutive stock price threshold was not met.

29

Note 7. Accumulated Other Comprehensive Income (Loss)

Dominion Energy

The following tables present Dominion Energy’s changes in AOCI (net of tax) and reclassifications out of AOCI by component:

	Total Derivative-Hedging Activities(1)(2)			Investment Securities(3)			Pension and other postretirement benefit costs(4)(5)				Total
(millions)
Three Months Ended September 30, 2025
Beginning balance	$	(172	)	$	3		$	24			$	(145	)
Other comprehensive income (loss) before     reclassifications: gains (losses)		(3	)		6			—				3
Amounts reclassified from AOCI: (gains) losses
Interest and related charges		10			—			—				10
Other income (expense)		—			(1	)		(3	)	<