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Operating Revenue | Nov. 18, 2019
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Operating Revenue | NOTE 4. OPERATING REVENUE The Companies’ operating revenue, subsequent to the adoption of revised guidance for revenue recognition from contracts with customers, consists of the following:
Year Ended December 31, |  | 2018 |
(millions) |  |  |
Dominion Energy |  |  |  |
Regulated electric sales: |  |  |  |
Residential |  | $ | 3,413 |
Commercial |  |  | 2,503 |
Industrial |  |  | 490 |
Government and other retail |  |  | 854 |
Wholesale |  |  | 137 |
Nonregulated electric sales |  |  | 1,294 |
Regulated gas sales: |  |  |  |
Residential |  |  | 818 |
Commercial |  |  | 221 |
Other |  |  | 36 |
Nonregulated gas sales |  |  | 214 |
Regulated gas transportation and storage: |  |  |  |
FERC-regulated |  |  | 1,091 |
State-regulated |  |  | 640 |
Nonregulated gas transportation and storage |  |  | 442 |
Other regulated revenues |  |  | 179 |
Other nonregulated revenues (1)(2) |  |  | 563 |
Total operating revenue from contracts with customers |  |  | 12,895 |
Other revenues (2)(3) |  |  | 471 |
Total operating revenue |  | $ | 13,366 |
Virginia Power |  |  |  |
Regulated electric sales: |  |  |  |
Residential |  | $ | 3,413 |
Commercial |  |  | 2,503 |
Industrial |  |  | 490 |
Government and other retail |  |  | 854 |
Wholesale |  |  | 137 |
Other regulated revenues |  |  | 132 |
Other nonregulated revenues (1)(2) |  |  | 55 |
Total operating revenue from contracts with customers |  |  | 7,584 |
Other revenues (1)(3) |  |  | 35 |
Total operating revenue |  | $ | 7,619 |
Dominion Energy Gas |  |  |  |
Regulated gas sales - wholesale |  | $ | 25 |
Nonregulated gas sales (1) |  |  | 7 |
Regulated gas transportation and storage |  |  | 1,249 |
Nonregulated gas transportation and storage |  |  | 442 |
Management service revenue (1) |  |  | 257 |
Other regulated revenues ( 2 ) |  |  | 19 |
Other nonregulated revenues (1 )(2 ) |  |  | 3 |
Total operating revenue from contracts with customers |  |  | 2,002 |
Other revenues |  |  | (6 | )
Total operating revenu e |  | $ | 1,996 |
(1) | See Notes 9 and 24 for amounts attributable to related parties and affiliates.
(2) | Amounts above include $241 million and $10 million for the year ended December 31, 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. In addition, the amounts include $17 million and $11 million of sales of renewable energy credits at both Dominion Energy and Virginia Power for the year ended December 31, 2018, respectively, which are considered to be goods transferred at a point in time.
(3) | Amounts above include $15 million of alternative revenue at Dominion Energy and Virginia Power for the year ended December 31, 2018.
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 December 31, 2018 |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |  |  | 2023 |  |  | Thereafter |  |  | Total |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dominion Energy |  | $ | 1,643 |  |  | $ | 1,563​​​​​​​ |  |  | $ | 1,448 |  |  | $ | 1,319 |  |  | $ | 1,154 |  |  | $ | 13,693 |  |  | $ | 20,820 |
Virginia Power |  |  | 21 |  |  |  | 3 |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 25 |
Dominion Energy Gas |  |  | 1,731 |  |  |  | 1,668 |  |  |  | 1,555 |  |  |  | 1,406 |  |  |  | 1,218 |  |  |  | 13,997 |  |  |  | 21,575 |
Contract assets represent an entity’s right to consideration in exchange for goods and services that the entity has transferred to a customer. At December 31, 2018 and December 31, 2017, Dominion Energy’s contract asset balances were $42 million and $46 million, respectively. Dominion Energy Gas’ contract asset balances were $58 million and $66 million at December 31, 2018 and December 31, 2017, respectively. Dominion Energy and Dominion Energy Gas’ contract assets are recorded in other deferred charges and other assets in the Consolidated Balance Sheets. Contract liabilities represent an entity’s obligation to transfer goods or services to a customer for which the entity has received consideration, or the amount that is due, from the customer. At December 31, 2018 and December 31, 2017, Dominion Energy’s contract liability balances were $106 million and $132 million, respectively. At December 31, 2018 and December 31, 2017, Virginia Power’s contract liability balances were $22 million and $50 million, respectively. At December 31, 2018 and December 31, 2017, Dominion Energy Gas’ contract liability balances were $28 million and $16 million, respectively. During the year ended December 31, 2018, Dominion Energy, Virginia Power and Dominion Energy Gas recognized revenue of $94 million, $25 million and $3 million, respectively, from the beginning contract liability balances as the Companies fulfilled their obligations to provide service to their customers. The Companies’ contract liabilities are recorded in other current liabilities and other deferred credits and other liabilities in the Consolidated Balance Sheets . The Companies’ operating revenue, prior to the adoption of revised guidance for revenue recognition from contracts with customers, consisted of the following:
Year Ended December 31, |  | 2017 |  |  | 2016 |
(millions) |  |  |  |  |  |  |
Dominion Energy |  |  |  |  |  |  |  |  |
Electric sales: |  |  |  |  |  |  |  |  |
Regulated |  | $ | 7,383 |  |  |  | $ | 7,348 |
Nonregulated |  |  | 1,429 |  |  |  |  | 1,519 |
Gas sales: |  |  |  |  |  |  |  |  |
Regulated |  |  | 1,067 |  |  |  |  | 500 |
Nonregulated |  |  | 457 |  |  |  |  | 354 |
Gas transportation and storage |  |  | 1,786 |  |  |  |  | 1,636 |
Other |  |  | 464 |  |  |  |  | 380 |
Total operating revenue |  | $ | 12,586 |  |  |  | $ | 11,737 |
Virginia Power |  |  |  |  |  |  |  |  |
Regulated electric sales |  | $ | 7,383 |  |  |  | $ | 7,348 |
Other |  |  | 173 |  |  |  |  | 240 |
Total operating revenue |  | $ | 7,556 |  |  |  | $ | 7,588 |
Dominion Energy Gas |  |  |  |  |  |  |  |  |
Gas sales: |  |  |  |  |  |  |  |  |
Regulated |  | $ | 6 |  |  |  | $ | 44 |
Nonregulated |  |  | 6 |  |  |  |  | 4 |
Gas transportation and storage |  |  | 1,291 |  |  |  |  | 1,153 |
Other |  |  | 220 |  |  |  |  | 173 |
Total operating revenue |  | $ | 1,523 |  |  |  | $ | 1,374 |

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