Note 18. Related-Party Transactions

Dominion Energy’s transactions with equity method investments are described in Note 9. Virginia Power engages in related-party transactions primarily with other Dominion Energy subsidiaries (affiliates). Virginia Power’s receivable and payable balances with affiliates are settled based on contractual terms or on a monthly basis, depending on the nature of the underlying transactions. Virginia Power is included in Dominion Energy’s consolidated federal income tax return and, where applicable, combined income tax returns for Dominion Energy are filed in various states. A discussion of Virginia Power’s significant related-party transactions follows.

Virginia Power transacts with affiliates for certain quantities of natural gas and other commodities in the ordinary course of business. Virginia Power also enters into certain commodity derivative contracts with affiliates. Virginia Power uses these contracts, which are principally comprised of forward commodity purchases, to manage commodity price risks associated with purchases of natural gas. At June 30, 2026, Virginia Power’s derivative assets and liabilities with affiliates were $11 million and $10 million, respectively. At December 31, 2025, Virginia Power’s derivative assets and liabilities with affiliates were $22 million and $12 million, respectively. See Note 8 for additional information.

Virginia Power participates in certain Dominion Energy benefit plans described in Note 22 to the Consolidated Financial Statements in the Companies’ Annual Report on

Form 10-K for the year ended December 31, 2025. At June 30, 2026 and December 31, 2025, amounts due to Dominion Energy associated with the Dominion Energy Pension Plan and included in other deferred credits and other liabilities in the Consolidated Balance Sheets were $658 million and $594 million, respectively. At June 30, 2026 and December 31, 2025, Virginia Power’s amounts due from Dominion Energy associated with the Dominion Energy Retiree Health and Welfare Plan and included in other deferred charges and other assets in the Consolidated Balance Sheets were $759 million and $729 million, respectively.

DES and other affiliates provide accounting, legal, finance and certain administrative and technical services to Virginia Power. In addition, Virginia Power provides certain services to affiliates, including charges for facilities and equipment usage.

The financial statements for all years presented include costs for certain general, administrative and corporate expenses assigned by DES to Virginia Power on the basis of direct and allocated methods in accordance with Virginia Power’s services agreements with DES. Where costs incurred cannot be determined by specific identification, the costs are allocated based on the proportional level of effort devoted by DES resources that is attributable to the entity, determined by reference to number of employees, salaries and wages and other similar measures for the relevant DES service. Management believes the assumptions and methodologies underlying the allocation of general corporate overhead expenses are reasonable.

Virginia Power has borrowed funds from Dominion Energy under short-term borrowing arrangements. There were $1.4 billion and $1.2 billion in short-term demand note borrowings from Dominion Energy at June 30, 2026 and December 31, 2025, respectively. Virginia Power had no outstanding borrowings, net of repayments, under the Dominion Energy money pool for its nonregulated subsidiaries at both June 30, 2026 and December 31, 2025. Interest charges related to Virginia Power’s borrowings from Dominion Energy were $14 million and $22 million for the three months ended June 30, 2026 and 2025, respectively, and $25 million and $36 million for the six months ended June 30, 2026 and 2025, respectively.

In the second quarter of both 2026 and 2025, Virginia Power issued common stock to Dominion Energy as discussed in Note 16.

In September 2025, Virginia Power commenced a 20-month operating lease with an affiliated entity for the use of a Jones Act compliant offshore wind installation vessel. At June 30, 2026, Virginia Power’s Consolidated Balance Sheet reflects Virginia Power’s expected use of the vessel through the end of 2027 and includes $210 million of other deferred charges and other assets for its right-of-use asset and $213 million of affiliated lease payables comprised of $140 million presented in other current liabilities and $73 million presented in other deferred credits and other liabilities. At December 31, 2025, Virginia Power’s Consolidated Balance Sheet reflects $185 million of other deferred charges and other assets for its right-of-use asset and $188 million of affiliated lease payables comprised of $141 million presented in other current liabilities and $47 million presented in other deferred credits and other liabilities. For the three and six months ended June 30, 2026, Virginia Power capitalized $36 million and $72 million, respectively, of such affiliated lease cost associated with the CVOW Commercial Project.