Operating Revenue (Tables)

6 Months Ended

Jun. 30, 2018

Operating Revenue For Revised Guidance of Revenue Recognition From Contracts with Customers

The Companies’ operating revenue, prior to the adoption of revised guidance for revenue recognition from contracts with customers, consisted of the following:

	Three Months Ended June 30,		Six Months Ended June 30,
	2017		2017
(millions)
Dominion Energy
Electric sales:
Regulated	$	1,716	$	3,482
Nonregulated		307		734
Gas sales:
Regulated		151		599
Nonregulated		110		254
Gas transportation and storage		430		922
Other		99		206
Total operating revenue	$	2,813	$	6,197
Virginia Power
Regulated electric sales	$	1,716	$	3,482
Other		31		96
Total operating revenue	$	1,747	$	3,578
Dominion Energy Gas
Gas sales:
Regulated	$	15	$	47
Nonregulated		8		10
Gas transportation and storage		342		738
Other		57		117
Total operating revenue	$	422	$	912

Schedule of Aggregate Amount of Transaction Price Allocated To Fixed-price Performance Obligations That Unsatisfied At End of Reporting Period And Expected To be Recognized

The table below discloses the aggregate amount of the transaction price allocated to fixed-price performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period and when the Companies expect to recognize this revenue. These revenues relate to contracts containing fixed prices where the Companies will earn the associated revenue over time as they stand ready to perform services provided. This disclosure does not include revenue related to performance obligations that are part of a contract with original durations of one year or less. In addition, this disclosure does not include expected consideration related to performance obligations for which the Companies elect to recognize revenue in the amount they have a right to invoice.

Revenue expected to be recognized on multi-year contracts in place at June 30, 2018	2018		2019		2020		2021		2022		Thereafter		Total
(millions)
Dominion Energy	$	851	$	1,686	$	1,578	$	1,466	$	1,335	$	15,240	$	22,156
Virginia Power		11		21		3		1		—		—		36
Dominion Energy Gas		324		633		570		485		394		2,168		4,574

Subsequent To Adoption of Revised Guidance

Operating Revenue For Revised Guidance of Revenue Recognition From Contracts with Customers

The Companies’ operating revenue, subsequent to the adoption of revised guidance for revenue recognition from contracts with customers, consists of the following:

	Three Months Ended June 30,		Six Months Ended June 30,
	2018		2018
(millions)
Dominion Energy
Regulated electric sales:
Residential	$	788	$	1,605
Commercial		636		1,160
Industrial		121		228
Government and other retail		210		423
Wholesale		23		65
Nonregulated electric sales		282		700
Regulated gas sales:
Residential		116		480
Commercial		34		137
Other		1		11
Nonregulated gas sales		9		97
Regulated gas transportation and storage:
FERC-regulated		272		534
State-regulated		144		334
Nonregulated gas transportation and storage		124		124
Other regulated revenues		44		94
Other nonregulated revenues⁽¹⁾⁽²⁾		141		277
Total operating revenue from contracts with customers		2,945		6,269
Other revenues		143		285
Total operating revenue	$	3,088	$	6,554
Virginia Power
Regulated electric sales:
Residential	$	788	$	1,605
Commercial		636		1,160
Industrial		121		228
Government and other retail		210		423
Wholesale		23		65
Other regulated revenues		33		65
Other nonregulated revenues⁽¹⁾		18		31
Total operating revenue from contracts with customers	$	1,829	$	3,577
Dominion Energy Gas
Regulated gas sales:
Residential	$	13	$	42
Other		2		9
Nonregulated gas sales⁽¹⁾		1		3
Regulated gas transportation and storage:
FERC-regulated⁽¹⁾		183		382
State-regulated⁽¹⁾		139		319
NGL revenue⁽¹⁾⁽²⁾		50		104
Management service revenue⁽¹⁾		60		107
Other regulated revenues⁽¹⁾		4		12
Other nonregulated revenues⁽¹⁾		4		6
Total operating revenue from contracts with customers		456		984
Other revenues⁽¹⁾		3		1
Total operating revenue	$	459	$	985

(1)

See Notes 10 and 18 for amounts attributable to related parties and affiliates.

(2)

Amounts above include $33 million and $21 million for the three months ended June 30, 2018, and $63 million and $47 million for the six months ended June 30, 2018 primarily consisting of NGL sales at Dominion Energy and Dominion Energy Gas, respectively, which are considered to be goods transferred at a point in time.