XML 42 R29.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Credit Risk | 9 Months Ended
--- | ---
Sep. 30, 2022
Risks And Uncertainties [Abstract] |
Credit Risk | Note 18. Credit Risk The Companies’ accounting policies for credit risk are discussed in Note 24 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2021. At September 30, 2022, Dominion Energy’s credit exposure totaled $133 million, primarily related to price risk management activities. Of this amount, investment grade counterparties, including those internally rated, represented 88%. No single counterparty, whether investment grade or non-investment grade, exceeded $45 million of exposure. At September 30, 2022, Virginia Power’s exposure related to wholesale customers totaled $17 million. Of this amount, investment grade counterparties, including those internally rated, represented 78%. No single counterparty, whether investment grade or non-investment grade, exceeded $4 million of exposure. Credit-Related Contingent Provisions Certain of Dominion Energy’s derivative instruments contain credit-related contingent provisions. These provisions require Dominion Energy to provide collateral upon the occurrence of specific events, primarily a credit rating downgrade. If the credit-related contingent features underlying these instruments that are in a liability position and not fully collateralized with cash were fully triggered as of September 30, 2022 and December 31, 2021, Dominion Energy would have been required to post $189 million and $31 million, respectively, of additional collateral to its counterparties. The collateral that would be required to be posted includes the impacts of any offsetting asset positions and any amounts already posted for derivatives, non-derivative contracts and derivatives elected under the normal purchases and normal sales exception, per contractual terms. Dominion Energy had posted $124 million and $66 million of collateral at September 30, 2022 and December 31, 2021, respectively, related to derivative instruments with credit-related contingent provisions that are in a liability position and not fully collateralized with cash. In addition, Dominion Energy had posted letters of credit as collateral with counterparties covering $53 million of fair value of derivative instruments in a liability position at September 30, 2022. The aggregate fair value of all derivative instruments with credit-related contingent provisions that are in a liability position and not fully collateralized with cash was $313 million and $97 million at September 30, 2022 and December 31, 2021, respectively, which does not include the impact of any offsetting asset positions. Certain of Virginia Power’s derivative instruments contain credit-related contingent provisions. These provisions require Virginia Power to provide collateral upon the occurrence of specific events, primarily a credit rate downgrade. If the credit-related contingent features underlying these instruments that are in a liability position and not fully collateralized with cash were fully triggered as of September 30, 2022 and December 31, 2021, Virginia Power would have been required to post $58 million and $22 million, respectively, of additional collateral to its counterparties. The collateral that would be required to be posted includes the impacts of any offsetting asset position and any amounts already posted for derivatives and non-derivative contracts, per contractual terms. Virginia Power had posted $121 million and $54 million of collateral at September 30, 2022 and December 31, 2021, respectively, related to derivative instruments with credit-related contingent provisions that are in a liability position and not fully collateralized with cash. In addition, Virginia Power had posted letters of credit as collateral with counterparties covering $53 million of fair value of derivative instruments in a liability position at September 30, 2022. The aggregate fair value of all derivative instruments with credit-related contingent provisions that are in a liability position and not fully collateralized with cash was $179 million and $76 million at September 30, 2022 and December 31, 2021, respectively, which does not include the impact of any offsetting asset positions. See Note 9 for additional information about derivative instruments.

X
- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI https://asc.fasb.org/topic&trid=2134479 + Details
Name: | us-gaap_ConcentrationRiskDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RisksAndUncertaintiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration