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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2020
Property Plant And Equipment [Abstract] |
Property, Plant and Equipment | NOTE 10. PROPERTY, PLANT AND EQUIPMENT Major classes of property, plant and equipment and their respective balances for the Companies are as follows:
At December 31, |  | 2020 |  |  | 2019 |
(millions) |  |  |  |  |  |  |  |
Dominion Energy |  |  |  |  |  |  |  |
Utility: |  |  |  |  |  |  |  |
Generation |  | $ | 22,697 |  |  | $ | 25,317 |
Transmission |  |  | 14,351 |  |  |  | 13,472 |
Distribution |  |  | 27,311 |  |  |  | 25,746 |
Storage |  |  | 436 |  |  |  | 428 |
Nuclear fuel |  |  | 2,283 |  |  |  | 2,296 |
General and other |  |  | 4,130 |  |  |  | 3,978 |
Plant under construction |  |  | 3,350 |  |  |  | 2,377 |
Total utility |  |  | 74,558 |  |  |  | 73,614 |
Non-jurisdictional - including plant under construction |  |  | 1,225 |  |  |  | 854 |
Nonutility: |  |  |  |  |  |  |  |
Nonregulated generation-nuclear |  |  | 1,736 |  |  |  | 1,652 |
Nonregulated generation-other |  |  | 3,268 |  |  |  | 3,985 |
Nuclear fuel |  |  | 1,012 |  |  |  | 930 |
Other-including plant under construction |  |  | 1,160 |  |  |  | 1,008 |
Total nonutility |  |  | 7,176 |  |  |  | 7,575 |
Total property, plant and equipment |  | $ | 82,959 |  |  | $ | 82,043 |
Virginia Power |  |  |  |  |  |  |  |
Utility: |  |  |  |  |  |  |  |
Generation |  | $ | 16,769 |  |  | $ | 19,552 |
Transmission |  |  | 11,000 |  |  |  | 10,229 |
Distribution |  |  | 12,839 |  |  |  | 12,095 |
Nuclear fuel |  |  | 1,709 |  |  |  | 1,688 |
General and other |  |  | 845 |  |  |  | 825 |
Plant under construction |  |  | 2,338 |  |  |  | 1,784 |
Total utility |  |  | 45,500 |  |  |  | 46,173 |
Non-jurisdictional - including plant under construction |  |  | 1,225 |  |  |  | 854 |
Other |  |  | 11 |  |  |  | 11 |
Total property, plant and equipment |  | $ | 46,736 |  |  | $ | 47,038 |
Jointly-Owned Power Stations The Companies proportionate share of jointly-owned power stations at December 31, 2020 is as follows:
|  | Bath County Pumped Storage Station(1) |  |  | North Anna Units 1 and 2(1) |  |  | Clover Power Station(1) |  |  | Millstone Unit 3(2) |  |  | Summer Unit 1 (2) |
(millions, except percentages) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ownership interest |  |  | 60 | % |  |  | 88.4 | % |  |  | 50 | % |  |  | 93.5 | % |  |  | 66.7 | %
Plant in service |  |  | 1,064 |  |  |  | 2,587 |  |  |  | 609 |  |  |  | 1,292 |  |  |  | 1,519 |
Accumulated depreciation |  |  | (688 | ) |  |  | (1,359 | ) |  |  | (260 | ) |  |  | (482 | ) |  |  | (676 | )
Nuclear fuel |  |  | — |  |  |  | 793 |  |  |  | — |  |  |  | 573 |  |  |  | 575 |
Accumulated amortization of nuclear fuel |  |  | — |  |  |  | (661 | ) |  |  | — |  |  |  | (444 | ) |  |  | (354 | )
Plant under construction |  |  | 3 |  |  |  | 158 |  |  |  | 1 |  |  |  | 78 |  |  |  | 61 |
(1) | Units jointly owned by Virginia Power.
(2) | Unit jointly owned by Dominion Energy.
The co-owners are obligated to pay their share of all future construction expenditures and operating costs of the jointly-owned facilities in the same proportion as their respective ownership interest. The Companies report their share of operating costs in the appropriate operating expense (electric fuel and other energy-related purchases, other operations and maintenance, depreciation, depletion and amortization and other taxes, etc.) in the Consolidated Statements of Income. Sale of Certain Retail Energy Marketing Assets In October 2017, Dominion Energy entered into an agreement to sell certain assets associated with its nonregulated retail energy marketing operations. The first phase of the agreement closed in December 2017. Dominion Energy closed the second phase of the agreement in October 2018 for $63 million, which resulted in the recognition of a $65 million ($49 million after-tax) benefit included in gains on sales of assets in Dominion Energy’s Consolidated Statements of Income. Pursuant to the agreement, Dominion Energy entered into a commission agreement with the buyer upon the first closing in December 2017 under which the buyer will pay a commission in connection with the right to use Dominion Energy’s brand in marketing materials and other services over a ten-year term. Sale of Certain Nonregulated Generation Facilities In December 2018, Dominion Energy completed the sale of Fairless and Manchester for total consideration of $1.2 billion, subject to customary closing adjustments. Dominion Energy recognized a gain of $210 million ($198 million after-tax) included in gains on sales of assets in Dominion Energy’s Consolidated Statements of Income. The after-tax gain reflects Dominion Energy’s assessment and more-likely-than-not conclusion that the utilization of state tax incentives will reduce the income tax expense associated with the sale of these facilities. Acquisition of Solar Projects The following table presents acquisitions by Virginia Power of solar projects. Virginia Power has claimed or expects to claim federal investment tax credits on the projects.
Date Agreement Entered |  | Date Agreement Closed | Project Location |  | Project Name |  | Project Cost (millions)(1) |  |  | Date of Commercial Operations |  | MW Capacity |
September 2017 |  | October 2018 | North Carolina |  | Pecan |  | $ | 140 |  |  | December 2018 |  |  | 75 |
September 2017 |  | June 2019 | North Carolina |  | Gutenberg |  |  | 142 |  |  | September 2019 |  |  | 80 |
June 2018 |  | February 2019 | Virginia |  | Gloucester |  |  | 37 |  |  | April 2019 |  |  | 20 |
August 2018 |  | May 2019 | Virginia |  | Grasshopper |  |  | 128 |  |  | October 2020 |  |  | 80 |
August 2018 |  | May 2019 | North Carolina |  | Chestnut |  |  | 127 |  |  | January 2020 |  |  | 75 |
June 2019 |  | June 2019 | Virginia |  | Ft. Powhatan |  |  | 270 |  |  | Expected 2021 |  |  | 150 |
June 2019 |  | August 2019 | Virginia |  | Belcher |  |  | 165 |  |  | Expected 2021 |  |  | 88 |
August 2019 |  | November 2019 | Virginia |  | Bedford |  |  | 110 |  |  | Expected 2021 |  |  | 70 |
October 2019 |  | October 2019 | Virginia |  | Maplewood |  |  | 185 |  |  | Expected 2022 |  |  | 120 |
December 2019 |  | January 2020 | Virginia |  | Rochambeau |  |  | 35 |  |  | Expected 2021 |  |  | 20 |
May 2020 |  | May 2020 | Virginia |  | Pumpkinseed |  |  | 130 |  |  | Expected 2022 |  |  | 60 |
(1) Includes acquisition costs. The following table presents acquisitions by Dominion Energy of solar projects. Dominion Energy has claimed or expects to claim federal investment tax credits on the projects.
Date Agreement Entered |  | Date Agreement Closed | Project Location |  | Project Name |  | Project Cost (millions)(1) |  |  | Date of Commercial Operations |  | MW Capacity |
August 2019 |  | August 2019 | Virginia |  | Greensville |  | $ | 127 |  |  | December 2020 |  |  | 80 |
August 2019 |  | August 2019 | Virginia |  | Myrtle |  |  | 32 |  |  | June 2020 |  |  | 15 |
September 2019 |  | September 2019 | South Carolina |  | Seabrook |  |  | 103 |  |  | December 2019 |  |  | 72 |
November 2019 |  | November 2019 | North Carolina |  | Wilkinson |  |  | 153 |  |  | December 2019 |  |  | 74 |
May 2020 |  | May 2020 | South Carolina |  | Blackville |  |  | 12 |  |  | December 2020 |  |  | 7 |
May 2020 |  | May 2020 | South Carolina |  | Denmark |  |  | 14 |  |  | December 2020 |  |  | 6 |
May 2020 |  | August 2020 | South Carolina |  | Yemassee |  |  | 17 |  |  | January 2021 |  |  | 10 |
May 2020 |  | October 2020 | South Carolina |  | Trask |  |  | 25 |  |  | Expected 2021 |  |  | 12 |
June 2020 |  | June 2020 | Ohio |  | Hardin I |  |  | 240 |  |  | Split(2) |  |  | 150 |
July 2020 |  | July 2020 | Virginia |  | Madison |  |  | 125 |  |  | Expected 2022 |  |  | 62 |
August 2020 |  | Expected 2022 | Ohio |  | Hardin II |  |  | 295 |  |  | Expected 2023 |  |  | 150 |
(1) Includes acquisition costs. (2) In December 2020 and January 2021, 97 MW and 53 MW of the project commenced commercial operations, respectively. In addition to the facilities discussed above, Dominion Energy has also entered into various agreements to install solar facilities, primarily at schools in Virginia, with in-service dates in 2020 or 2021. Through February 2021, Dominion Energy anticipates a total projected cost of approximately $61 million under these agreements with an associated aggregate generation capacity of 30 MW. Dominion Energy has claimed or expects to claim federal investment tax credits on the projects. Acquisition of Gathering and Processing Assets In March 2020, Wexpro closed on an agreement with a natural gas gathering systems operator to purchase existing natural gas gathering systems including pipelines, compressors and dehydration equipment for total consideration of $38 million. These facilities gather natural gas in Colorado, Utah and Wyoming. Non-Wholly-Owned Nonregulated Solar Facilities In the third quarter of 2020, Dominion Energy performed a strategic review of its long-term intentions for its contracted nonregulated solar generation assets in partnerships outside of its core electric service territories in consideration of the impact of the VCEA and Dominion Energy’s decision to sell substantially all of its gas transmission and storage operations. Based on an evaluation of Dominion Energy’s interests in these long-lived assets for recoverability under a probability weighted approach, Dominion Energy determined the assets were impaired. As a result of this evaluation, Dominion Energy recorded a charge of $665 million ($293 million after-tax attributable to Dominion Energy and $267 million attributable to noncontrolling interest) in impairment of assets and other charges in its Consolidated Statements of Income (reflected in the Corporate and Other segment) for the year ended December 31, 2020 to adjust the property, plant and equipment down to its estimated fair value of $1.4 billion. The fair value was estimated using an income approach. The valuation is considered a Level 3 fair value measurement due to the use of significant judgmental and unobservable inputs, including projected timing and amount of future cash flows and discount rates reflecting risks inherent in the future cash flows and market prices.

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