Operating Revenue

9 Months Ended

Sep. 30, 2021

Note 4. Operating Revenue

The Companies’ operating revenue consists of the following:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2021			2020		2021			2020
(millions)
Dominion Energy
Regulated electric sales:
Residential	$	1,281		$	1,497	$	3,453		$	3,746
Commercial		831			865		2,311			2,391
Industrial		194			190		547			548
Government and other retail		258			239		670			651
Wholesale		52			37		131			99
Nonregulated electric sales		253			218		719			627
Regulated gas sales:
Residential		132			123		950			853
Commercial		61			50		346			304
Other		31			18		88			61
Nonregulated gas sales		7			12		74			124
Regulated gas transportation and storage		208			165		698			578
Other regulated revenues		47			61		187			236
Other nonregulated revenues⁽¹⁾		79			61		184			132
Total operating revenue from contracts with customers		3,434			3,536		10,358			10,350
Other revenues⁽²⁾⁽³⁾		(258	)		71		(274	)		301
Total operating revenue	$	3,176		$	3,607	$	10,084		$	10,651
Virginia Power
Regulated electric sales:
Residential	$	935		$	1,146	$	2,572		$	2,860
Commercial		604			645		1,715			1,805
Industrial		94			98		268			284
Government and other retail		241			223		625			603
Wholesale		31			25		79			70
Other regulated revenues		37			61		165			217
Other nonregulated revenues⁽¹⁾⁽⁴⁾		45			33		93			66
Total operating revenue from contracts with customers		1,987			2,231		5,517			5,905
Other revenues⁽²⁾⁽⁴⁾		(11	)		17		30			78
Total operating revenue	$	1,976		$	2,248	$	5,547		$	5,983

(1)

Includes sales which are considered to be goods transferred at a point in time of $9 million and $5 million for the three months ended September 30, 2021 and 2020, respectively, and $24 million and $16 million for the nine months ended September 30, 2021 and 2020, respectively, at Dominion Energy, primarily consisting of sales of commodities related to nonregulated extraction activities and other miscellaneous products. Additionally, sales of renewable energy credits were $16 million and $21 million for the three months ended September 30, 2021 and 2020, respectively, and $29 million and $32 million for the nine months ended September 30, 2021 and 2020, respectively, at Dominion Energy and $13 million and $16 million for the three months ended September 30, 2021 and 2020, respectively, and $22 million and $24 million for the nine months ended September 30, 2021 and 2020, respectively, at Virginia Power.

(2)

Includes alternative revenue of $3 million and $51 million at Dominion Energy and $3 million and $12 million at Virginia Power for the three months ended September 30, 2021 and 2020, respectively, and $50 million and $90 million at Dominion Energy and $41 million and $63 million at Virginia Power for the nine months ended September 30, 2021 and 2020, respectively.

(3)	Includes revenue associated with services provided to discontinued operations of $1 million and $1 million for the three months ended September 30, 2021 and 2020, respectively, and $3 million and $4 million for the nine months ended September 30, 2021 and 2020, respectively.

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

The table below discloses the aggregate amount of the transaction price allocated to fixed-price performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period and when Dominion Energy expects to recognize this revenue. These revenues relate to contracts containing fixed prices where Dominion Energy will earn the associated revenue over time as it stands ready to perform services provided. This disclosure does not include revenue related to performance obligations that are part of a contract with original durations of one year or less. In addition, this disclosure does not include expected consideration related to performance obligations for which Dominion Energy elects to recognize revenue in the amount it has a right to invoice.

Revenue expected to be recognized on multi-year

contracts in place at September 30, 2021

2021

2022

2023

2024

2025

Thereafter

Total

(millions)

Dominion Energy⁽¹⁾

493

754

(1)	Includes no amounts for Virginia Power.

At September 30, 2021 and December 31, 2020, Dominion Energy’s contract liability balances were $124 million and $130 million, respectively, and are recorded in other current liabilities and other deferred credits and other liabilities in the Consolidated Balance Sheets. At September 30, 2021 and December 31, 2020, Virginia Power’s contract liability balances were $29 million and $36 million, respectively, and are recorded in other current liabilities and other deferred credits and other liabilities in its Consolidated Balance Sheets.

The Companies recognize revenue as they fulfill their obligations to provide service to their customers. During the nine months ended September 30, 2021 and 2020, Dominion Energy recognized revenue of $124 million and $95 million, respectively, from the beginning contract liability balances. During the nine months ended September 30, 2021 and 2020, Virginia Power recognized $36 million and $24 million, respectively, from the beginning contract liability balance.