Regulatory Matters (Tables) |
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Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Public Utilities General Disclosures [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Significant Virginia Power Electric Transmission Projects Applied |
(1) Represents the cost estimate included in the application except as updated in the approval if applicable. In addition, Virginia Power had one other transmission project applied for and currently pending approval with an aggregate cost estimate of approximately $20 million. (2) In July 2026, appeals were filed with the Supreme Court of Virginia. This matter is pending. (3)
In October 2026, an appeal was filed with the Supreme Court of Virginia. This matter is pending. |
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| Virginia Electric and Power Company | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Public Utilities General Disclosures [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Significant Riders Associated With Virginia Power Projects |
(1) In addition, Virginia Power has riders associated with other projects with an aggregate total revenue requirement of approximately $65 million at September 30, 2026. (2) As approved, associated with four solar generation projects, including Bedford and Pumpkinseed (non-jurisdictional generation facilities with an aggregate recorded cost of $251 million at September 30, 2025), one energy storage project, 10 purchased power agreements and certain costs associated with expanding solar and storage facilities in addition to previously approved Rider CE projects. Appeals have been filed with the Supreme Court of Virginia regarding this matter, which are currently pending. (3) The total revenue requirement for Rider DIST includes $120 million for certain previously approved electric distribution grid transformation projects, $172 million for previously approved phases and proposed phase nine of certain new underground distribution facilities and $35 million for certain previously approved rural broadband capacity projects. Virginia Power recognized a charge of $24 million ($18 million after-tax) recorded primarily in impairment of assets and other charges (benefits) in the Companies’ Consolidated Statements of Income (reflected in the Corporate and Other segment) for the nine months ended September 30, 2026, for the disallowance of certain strategic undergrounding costs previously incurred in connection with this final order. In addition, effective June 2026, the rider associated with rural broadband capacity projects was consolidated into Rider DIST and separate collection of rates under the rural broadband rider ceased. (4) The total revenue requirement for Rider DIST includes $196 million for certain previously approved electric distribution grid transformation projects, $230 million for previously approved phases and proposed phase 10 of certain new underground distribution facilities and $37 million for certain previously approved rural broadband capacity projects. (5) In June 2026, Virginia Power filed a petition to update and reinstate Rider RGGI to recover RGGI compliance costs incurred beginning July 2026 and those projected to occur through February 2028, with rate recovery from March 2027 through February 2028. In its petition, Virginia Power proposed an alternative mitigation approach which, if approved, would spread the recovery of costs over a two-year period and result in a total revenue requirement of $940 million for the rate year beginning March 2027. (6) Consists of $599 million for the transmission component of Virginia Power’s base rates and $940 million for Rider T1. (7)
Associated with two redesigned energy efficiency programs and seven new demand response programs with a $221 million cost cap, with the ability to exceed the cost cap by no more than 15%. Also, in December 2025, Virginia Power filed a petition requesting Virginia Commission approval to conduct a pilot program to evaluate methods to optimize system demand through various technology applications and distributed energy resources, including the establishment of a VPP, as required by the Community Energy Act. In its petition, Virginia Power sought to utilize certain programs previously approved by the Virginia Commission and incorporate newly proposed programs associated with the DSM Riders. The DSM Riders cost cap includes $64 million associated with the proposed VPP pilot program. The Virginia Commission consolidated the DSM Riders and VPP pilot program petitions and approved all related matters in August 2026. |
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