v3.25.2
Operating Revenue
 6 Months Ended
Jun. 30, 2025
Text Block [Abstract]  
Operating Revenue

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 June 30,

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Regulated electric sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

$

1,347

 

 

$

1,284

 

 

$

2,916

 

 

$

2,649

 

 

$

991

 

 

$

976

 

 

$

2,215

 

 

$

2,028

 

Commercial(1)

 

 

1,346

 

 

 

1,191

 

 

 

2,584

 

 

 

2,285

 

 

 

1,109

 

 

 

972

 

 

 

2,136

 

 

 

1,853

 

Industrial

 

 

210

 

 

 

213

 

 

 

404

 

 

 

426

 

 

 

100

 

 

 

111

 

 

 

197

 

 

 

217

 

Government and other retail

 

 

302

 

 

 

252

 

 

 

610

 

 

 

509

 

 

 

285

 

 

 

237

 

 

 

576

 

 

 

478

 

Wholesale

 

 

38

 

 

 

33

 

 

 

81

 

 

 

69

 

 

 

29

 

 

 

24

 

 

 

66

 

 

 

53

 

Nonregulated electric sales

 

 

238

 

 

 

234

 

 

 

610

 

 

 

454

 

 

 

42

 

 

 

25

 

 

 

65

 

 

 

39

 

Regulated gas sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

 

45

 

 

 

42

 

 

 

217

 

 

 

193

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

28

 

 

 

28

 

 

 

81

 

 

 

76

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

5

 

 

 

16

 

 

 

32

 

 

 

35

 

 

 

 

 

 

 

 

 

 

 

 

 

Regulated gas transportation and storage

 

 

10

 

 

 

5

 

 

 

16

 

 

 

9

 

 

 

 

 

 

 

 

 

 

 

 

 

Other regulated revenue

 

 

99

 

 

 

118

 

 

 

143

 

 

 

206

 

 

 

95

 

 

 

114

 

 

 

134

 

 

 

198

 

Other nonregulated revenues(2)(3)(4)

 

 

50

 

 

 

39

 

 

 

109

 

 

 

68

 

 

 

9

 

 

 

9

 

 

 

22

 

 

 

19

 

Total operating revenue from contracts
   with customers

 

 

3,718

 

 

 

3,455

 

 

 

7,803

 

 

 

6,979

 

 

 

2,660

 

 

 

2,468

 

 

 

5,411

 

 

 

4,885

 

Other revenues(2)(5)

 

 

92

 

 

 

31

 

 

 

83

 

 

 

139

 

 

 

52

 

 

 

69

 

 

 

66

 

 

 

141

 

Total operating revenue

 

$

3,810

 

 

$

3,486

 

 

$

7,886

 

 

$

7,118

 

 

$

2,712

 

 

$

2,537

 

 

$

5,477

 

 

$

5,026

 

 

(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 $5 million and $7 million for the three months ended June 30, 2025 and 2024, respectively, and $15 million and $12 million for the six months ended June 30, 2025 and 2024, respectively, at Dominion Energy and $2 million and $3 million for the three months ended June 30, 2025 and 2024, respectively, and $6 million and $5 million for the six months ended June 30, 2025 and 2024, respectively, at Virginia Power.
(4)
Includes revenue from transition services agreements of $24 million and $13 million for the three months ended June 30, 2025 and 2024, respectively, and $51 million and $17 million for the six months ended June 30, 2025 and 2024, respectively, at Dominion Energy.
(5)
Includes alternative revenue of $60 million and $33 million for the three months ended June 30, 2025 and 2024, respectively, and $82 million and $61 million for the six months ended June 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 June 30, 2025.

At June 30, 2025 and December 31, 2024, Dominion Energy’s contract liability balances were $54 million and $52 million, respectively. At June 30, 2025 and December 31, 2024, Virginia Power’s contract liability balances were $48 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 six months ended June 30, 2025 and 2024, Dominion Energy recognized revenue of $50 million and $44 million, respectively, from the beginning contract liability balances. During the six months ended June 30, 2025 and 2024, Virginia Power recognized $46 million and $40 million, respectively, from the beginning contract liability balances.