Credit Risk |
6 Months Ended |
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Jun. 30, 2025 | |
Risks and Uncertainties [Abstract] | |
Credit Risk | Note 18. Credit Risk The Companies’ accounting policies for credit risk are discussed in Note 24 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2024. At June 30, 2025, Dominion Energy’s credit exposure totaled $117 million, primarily related to price risk management activities. Of this amount, investment grade counterparties, including those internally rated, represented 87%. No single counterparty, whether investment grade or non-investment grade, exceeded $46 million of exposure. At June 30, 2025, Virginia Power’s exposure related to wholesale customers totaled $21 million. Of this amount, investment grade counterparties, including those internally rated, represented 32%. No single counterparty, whether investment grade or non-investment grade, exceeded $10 million of exposure. Credit-Related Contingent Provisions Certain of Dominion Energy and Virginia Power’s derivative instruments contain credit-related contingent provisions. These provisions require Dominion Energy and Virginia Power to provide collateral upon the occurrence of specific events, primarily a credit rating downgrade. If the credit-related contingent features underlying these instruments that are in a liability position and not fully collateralized with cash were fully triggered, Dominion Energy and Virginia Power would have been required to post additional collateral to its counterparties of $19 million and $18 million, respectively, as of June 30, 2025, and $13 million and $12 million, respectively, as of December 31, 2024. The collateral that would be required to be posted includes the impacts of any offsetting asset positions and any amounts already posted for derivatives, non-derivative contracts and derivatives elected under the normal purchases and normal sales exception, per contractual terms. Dominion Energy and Virginia Power had no amounts of collateral posted at June 30, 2025 or December 31, 2024 related to derivatives with credit-related contingent provisions that are in a liability position and not fully collateralized with cash. There were no letters of credit posted as collateral at June 30, 2025 or December 31, 2024 for either Dominion Energy or Virginia Power. The aggregate fair value of all derivative instruments with credit related contingent provisions that are in a liability position and not fully collateralized with cash for Dominion Energy and Virginia Power was $19 million and $18 million, respectively, as of June 30, 2025 and $13 million and $12 million, respectively, as of December 31, 2024, which does not include the impact of any offsetting asset positions. See Note 9 for additional information about derivative instruments. |