Derivatives and Hedge Accounting Activities (Tables)

6 Months Ended

Jun. 30, 2026

The tables below present the Companies’ derivative asset and liability balances by type of financial instrument, if the gross amounts recognized in their Consolidated Balance Sheets were netted with derivative instruments and cash collateral received or paid:


	Dominion Energy Gross Amounts Not Offset in the Consolidated Balance Sheet								Virginia Power Gross Amounts Not Offset in the Consolidated Balance Sheet
	Gross Assets Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Received		Net Amounts		Gross Assets Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
June 30, 2026
Commodity contracts:
Over-the-counter	$	789	$	34	$	—	$	755	$	406	$	34	$	—	$	372
Exchange		52		49		—		3		3		—		—		3
Interest rate contracts:
Over-the-counter		51		9		—		42		34		9		—		25
Foreign currency exchange rate contracts:
Over-the-counter		2		2		—		—		2		2		—		—
Total derivatives, subject to a master netting or similar arrangement	$	894	$	94	$	—	$	800	$	445	$	45	$	—	$	400
December 31, 2025
Commodity contracts:
Over-the-counter	$	464	$	4	$	—	$	460	$	239	$	4	$	—	$	235
Exchange		48		48		—		—		—		—		—		—
Interest rate contracts:
Over-the-counter		201		5		—		196		197		4		—		193
Foreign currency exchange rate contracts:
Over-the-counter		28		8		—		20		28		8		—		20
Total derivatives, subject to a master netting or similar arrangement	$	741	$	65	$	—	$	676	$	464	$	16	$	—	$	448

(1)

Excludes derivative assets of $285 million and $217 million at Dominion Energy and $10 million and $18 million at Virginia Power at June 30, 2026 and December 31, 2025, respectively, which are not subject to master netting or other similar arrangements.

Offsetting Liabilities


	Dominion Energy Gross Amounts Not Offset in the Consolidated Balance Sheet								Virginia Power Gross Amounts Not Offset in the Consolidated Balance Sheet
	Gross Liabilities Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Paid		Net Amounts		Gross Liabilities Presented in the Consolidated Balance Sheet(1)		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
June 30, 2026
Commodity contracts:
Over-the-counter	$	91	$	34	$	—	$	57	$	38	$	34	$	—	$	4
Exchange		295		49		246		—		—		—		—		—
Interest rate contracts:
Over-the-counter		61		9		—		52		60		9		—		51
Foreign currency exchange rate contracts:
Over-the-counter		8		2		—		6		8		2		—		6
Total derivatives, subject to a master netting or similar arrangement	$	455	$	94	$	246	$	115	$	106	$	45	$	—	$	61
December 31, 2025
Commodity contracts:
Over-the-counter	$	38	$	4	$	—	$	34	$	6	$	4	$	—	$	2
Exchange		173		48		125		—		—		—		—		—
Interest rate contracts:
Over-the-counter		19		5		—		14		8		4		—		4
Foreign currency exchange rate contracts:
Over-the-counter		10		8		—		2		10		8		—		2
Total derivatives, subject to a master netting or similar arrangement	$	240	$	65	$	125	$	50	$	24	$	16	$	—	$	8

(1)

Excludes derivative liabilities of $6 million and $5 million at Dominion Energy and $5 million and $7 million at Virginia Power at June 30, 2026 and December 31, 2025, respectively, which are not subject to master netting or other similar arrangements.

Schedule of Volume of Derivative Activity

The following table presents the volume of the Companies’ derivative activity at June 30, 2026. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of their long and short positions.


	Dominion Energy				Virginia Power
	Current		Noncurrent		Current		Noncurrent
Natural Gas (bcf):
Fixed price(1)		38				31
Basis(1)		295		1,878		148		240
Electricity (MWh in millions):
Fixed price		9		34
FTRs		85				85
Interest rate(2) (in millions)	$	900	$	8,471	$	—	$	7,400
Foreign currency exchange rate(2) (in millions)
Danish Krone	292 kr.		— kr.		292 kr.		— kr.
Euro	€	128	€	—	€	128	€	—

(1)

Includes options.

(2)

Maturity is determined based on final settlement period.

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table presents selected information related to gains (losses) on cash flow hedges included in AOCI in the Companies’ Consolidated Balance Sheets at June 30, 2026:


	Dominion Energy							Virginia Power
	AOCI After-Tax			Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax			Maximum Term (months)	AOCI After-Tax		Amounts Expected to be Reclassified to Earnings During the Next 12 Months After-Tax		Maximum Term (months)
(millions)
Interest rate	$	(115	)	$	(13	)	402	$	30	$	9	402
Total	$	(115	)	$	(13	)		$	30	$	9

Fair Value of Derivatives

Fair Value and Gains and Losses on Derivative Instruments

The following table presents the fair values of the Companies’ derivatives and where they are presented in their Consolidated Balance Sheets:


	Dominion Energy				Virginia Power
	Assets		Liabilities		Assets		Liabilities
(millions)
At June 30, 2026
Current derivatives not under cash flow hedge accounting
Commodity	$	486	$	218	$	308	$	42
Interest rate		2		—
Foreign currency exchange rate		2		8		2		8
Current derivatives under cash flow hedge accounting
Interest rate		—		—		—		—
Total current derivatives(1)	$	490	$	226	$	310	$	50
Noncurrent derivatives not under cash flow hedge accounting
Commodity	$	640	$	174	$	111	$	1
Interest rate		12		1
Foreign currency exchange rate		—		—		—		—
Noncurrent derivatives under cash flow hedge accounting
Interest rate		37		60		34		60
Total noncurrent derivatives(2)		689		235		145		61
Total derivatives	$	1,179	$	461	$	455	$	111
At December 31, 2025
Current derivatives not under cash flow hedge accounting
Commodity	$	295	$	98	$	172	$	12
Interest rate		—		3
Foreign currency exchange rate		25		10		25		10
Current derivatives under cash flow hedge accounting
Interest rate		15		—		15		—
Total current derivatives(1)	$	335	$	111	$	212	$	22
Noncurrent derivatives not under cash flow hedge accounting
Commodity	$	434	$	118	$	85	$	1
Interest rate		2		7
Foreign currency exchange rate		3		—		3		—
Noncurrent derivatives under cash flow hedge accounting
Interest rate		184		9		182		8
Total noncurrent derivatives(2)		623		134		270		9
Total derivatives	$	958	$	245	$	482	$	31

(1) The Companies’ current derivative liabilities are presented in other current liabilities in their Consolidated Balance Sheets.

(2) The Companies’ noncurrent derivative assets and liabilities are presented in other deferred charges and other assets and other deferred credits and other liabilities, respectively, in their Consolidated Balance Sheets.

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following tables present the gains and losses on the Companies’ derivatives, as well as where the associated activity is presented in their Consolidated Balance Sheets and Statements of Income.


	Dominion Energy									Virginia Power
Derivatives in cash flow hedging relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)			Amount of Gain (Loss) Recognized in AOCI on Derivatives(1)			Amount of Gain (Loss) Reclassified from AOCI to Income		Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)
(millions)
Three Months Ended June 30, 2026
Derivative type and location of gains (losses):
Interest rate(3)	$	16		$	(9	)	$	24		$	1		$	—	$	23
Total	$	16		$	(9	)	$	24		$	1		$	—	$	23
Three Months Ended June 30, 2025
Derivative type and location of gains (losses):
Interest rate(3)	$	—		$	(10	)	$	28		$	2		$	—	$	28
Total	$	—		$	(10	)	$	28		$	2		$	—	$	28
Six Months Ended June 30, 2026
Derivative type and location of gains (losses):
Interest rate(3)	$	12		$	(17	)	$	(12	)	$	(2	)	$	1	$	(13	)
Total	$	12		$	(17	)	$	(12	)	$	(2	)	$	1	$	(13	)
Six Months Ended June 30, 2025
Derivative type and location of gains (losses):
Interest rate(3)	$	(21	)	$	(20	)	$	(72	)	$	(7	)	$	—	$	(73	)
Total	$	(21	)	$	(20	)	$	(72	)	$	(7	)	$	—	$	(73	)

(1)

Amounts deferred into AOCI have no associated effect in the Companies’ Consolidated Statements of Income.

(2)

Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in the Companies’ Consolidated Statements of Income.

(3)

Amounts recorded in the Companies’ Consolidated Statements of Income are classified in interest and related charges.

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance


	Amount of Gain (Loss) Recognized in Income on Derivatives(1)(2)
Derivatives not designated as hedging instruments	Dominion Energy												Virginia Power
	Quarter-to-Date						Year-to-Date						Quarter-to-Date					Year-to-Date
Period Ended June 30,	2026			2025			2026			2025			2026		2025			2026			2025
(millions)
Derivative type and location of gains (losses):
Commodity:
Operating revenue	$	(78	)	$	23		$	(203	)	$	(16	)	$	—	$	(9	)	$	—		$	(19	)
Purchased gas		(3	)		—			2			—
Purchased electric capacity		—			—			(7	)		—			—		—			(7	)		—
Electric fuel and other energy-related purchases		231			139			275			105			233		137			261			101
Interest rate:
Interest and related charges		37			(13	)		48			(10	)
Total	$	187		$	149		$	115		$	79		$	233	$	128		$	254		$	82

(1)

Includes derivative activity amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in the Companies’ Consolidated Statements of Income.

(2)

Excludes amounts related to foreign currency exchange rate derivatives that are deferred to regulatory assets/liabilities that will begin to amortize as
the CVOW Commercial Project is placed in service.