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Variable Interest Entities | 9 Months Ended
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Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract] |
Variable Interest Entities | Note 15. Variable Interest Entities There have been no significant changes regarding the entities the Companies consider VIEs as described in Note 16 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2019. Dominion Energy At both September 30, 2020 and December 31, 2019, Dominion Energy’s securities due within one year included $31 million, and at September 30, 2020 and December 31, 2019 Dominion Energy’s long-term debt included $260 million and $267 million, respectively, of debt issued by SBL Holdco, a VIE, net of issuance costs, that is nonrecourse to Dominion Energy and is secured by SBL Holdco’s interest in certain merchant solar facilities. Virginia Power Virginia Power had a long-term power and capacity contract with one non-utility generator with an aggregate summer generation capacity of approximately 218 MW. In May 2019, Virginia Power entered into an agreement and paid $135 million to terminate the remaining contract with the non-utility generator, effective April 2019. A $135 million ($100 million after-tax) charge was recorded in impairment of assets and other charges in Virginia Power’s Consolidated Statements of Income during the second quarter of 2019. Virginia Power paid $13 million for electric capacity and $1 million for electric energy to the non-utility generator in the nine months ended September 30, 2019. Virginia Power purchased shared services from DES, an affiliated VIE, of $81 million for the three months ended September 30, 2020, $83 million for the three months ended September 30, 2019, $260 million for the nine months ended September, 30, 2020 and $301 million for the nine months ended September 30, 2019. Virginia Power’s Consolidated Balance Sheets include amounts due to DES of $171 million and $102 million at September 30, 2020 and December 31, 2019, respectively, recorded in payables to affiliates.

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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI http://asc.fasb.org/topic&trid=2197479 + Details
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