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Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2022
Accounting Policies [Abstract] |
Schedule of Checks Outstanding but Not Yet Presented for Payment | The following table illustrates the checks outstanding but not yet presented for payment and recorded in accounts payable for the Companies:
At December 31, |  | 2022 |  |  | 2021 |
(millions) |  |  |  |  |  |
Dominion Energy |  | $ | 49 |  |  | $ | 70 |
Virginia Power |  |  | 21 |  |  |  | 15 |
Reconciliation of Total Cash, Restricted Cash and Equivalents | The following table provides a reconciliation of the total cash, restricted cash and equivalents reported within the Companies’ Consolidated Balance Sheets to the corresponding amounts reported within the Companies’ Consolidated Statements of Cash Flows for the years ended December 31, 2022, 2021, 2020 and 2019:
|  | Cash, Restricted Cash and Equivalents at End/Beginning of Year |
|  | December 31, 2022 |  |  | December 31, 2021 |  |  | December 31, 2020 |  |  | December 31, 2019 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |
Dominion Energy |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents(1) |  | $ | 153 |  |  | $ | 283 |  |  | $ | 179 |  |  | $ | 166 |
Restricted cash and equivalents(2)(3) |  |  | 188 |  |  |  | 125 |  |  |  | 68 |  |  |  | 103 |
Cash, restricted cash and equivalents shown in the Consolidated Statements of Cash Flows |  | $ | 341 |  |  | $ | 408 |  |  | $ | 247 |  |  | $ | 269 |
Virginia Power |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 22 |  |  | $ | 26 |  |  | $ | 35 |  |  | $ | 17 |
Restricted cash and equivalents(3) |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | 7 |
Cash, restricted cash and equivalents shown in the Consolidated Statements of Cash Flows |  | $ | 24 |  |  | $ | 26 |  |  | $ | 35 |  |  | $ | 24 |
(1) At December 31, 2020 and December 31, 2019, Dominion Energy had $7 million and $31 million of cash and cash equivalents included in current assets held for sale, respectively. No amounts were included in current assets held for sale at December 31, 2022 and 2021. (2) At December 31, 2020 and December 31, 2019, Dominion Energy had $3 million and $12 million of restricted cash and equivalents included in current assets held for sale, respectively. No amounts were included in current assets held for sale at December 31, 2022 and 2021. (3) Restricted cash and equivalent balances are presented within other current assets in the Companies’ Consolidated Balance Sheets.
Schedule of Supplemental Cash Flow Information | The following table provides supplemental disclosure of cash flow information related to Dominion Energy:
Year Ended December 31, |  | 2022 |  |  | 2021 |  |  | 2020 |
(millions) |  |  |  |  |  |  |  |  |
Cash paid during the year for: |  |  |  |  |  |  |  |  |
Interest and related charges, excluding capitalized amounts |  | $ | 1,408 |  |  | $ | 1,340 |  |  | $ | 1,519 |
Income taxes |  |  | 139 |  |  |  | 160 |  |  |  | 292 |
Significant noncash investing and financing activities:(1)(2) |  |  |  |  |  |  |  |  |
Accrued capital expenditures |  |  | 979 |  |  |  | 637 |  |  |  | 485 |
Leases(3) |  |  | 144 |  |  |  | 96 |  |  |  | 173 |
(1) See Note 9 for noncash investing activities related to the acquisition of a noncontrolling interest in Wrangler and Dominion Privatization. (2) See Notes 18, 19, 20 and 23 for noncash financing activities related to the contribution of stock to Dominion Energy’s defined benefit pension plan, remarketing of Series A Preferred Stock, derivative restructuring and the issuance of common stock and transfer of property associated with the settlement of litigation. (3) Includes $34 million of finance leases and $110 million of operating leases entered in 2022, $47 million of finance leases and $49 million of operating leases entered in 2021 and $46 million of finance leases and $127 million of operating leases entered in 2020. The following table provides supplemental disclosure of cash flow information related to Virginia Power:
Year Ended December 31, |  | 2022 |  |  | 2021 |  |  | 2020 |
(millions) |  |  |  |  |  |  |  |  |
Cash paid (received) during the year for: |  |  |  |  |  |  |  |  |
Interest and related charges, excluding capitalized amounts |  | $ | 599 |  |  | $ | 501 |  |  | $ | 491 |
Income taxes |  |  | (54 | ) |  |  | 109 |  |  |  | 452 |
Significant noncash investing activities:(1) |  |  |  |  |  |  |  |  |
Accrued capital expenditures |  |  | 665 |  |  |  | 363 |  |  |  | 262 |
Leases(2) |  |  | 116 |  |  |  | 79 |  |  |  | 32 |
(1) See Note 18 for non-cash financing activities related to derivative restructuring. (2) Includes $26 million of finance leases and $90 million of operating leases entered in 2022, $37 million of finance leases and $42 million of operating leases entered in 2021 and $32 million of finance leases entered in 2020.
Schedule of the inputs and assumptions used in measuring fair value | The inputs and assumptions used in measuring fair value include the following:
|  | Derivative Contracts |  |
Inputs and assumptions |  | Commodity |  | Interest Rate |  | Foreign Currency Exchange Rate |  | Investments
Forward commodity prices |  | X |  |  |  |  |  |
Transaction prices |  | X |  |  |  |  |  |
Price volatility |  | X |  |  |  |  |  |
Price correlation |  | X |  |  |  |  |  |
Volumes |  | X |  |  |  |  |  |
Commodity location |  | X |  |  |  |  |  |
Interest rate curves |  |  |  | X |  |  |  |
Foreign currency forward exchange rates |  |  |  |  |  | X |  |
Quoted securities prices and indices |  |  |  |  |  |  |  | X
Securities trading information including volume and restrictions |  |  |  |  |  |  |  | X
Maturity |  |  |  |  |  |  |  | X
Interest rates |  | X |  |  |  | X |  | X
Credit quality of counterparties and the Companies |  | X |  | X |  | X |  | X
Credit enhancements |  | X |  | X |  |  |  |
Notional value |  |  |  | X |  | X |  |
Time value |  | X |  | X |  | X |  |
Schedule of Depreciation Rates | The Companies’ average composite depreciation rates on utility property, plant and equipment are as follows:
Year Ended December 31, |  | 2022 |  |  | 2021 |  |  | 2020 |
(percent) |  |  |  |  |  |  |  |  |
Dominion Energy(1) |  |  |  |  |  |  |  |  |
Generation |  |  | 2.71 |  |  |  | 2.63 |  |  |  | 2.51 |
Transmission |  |  | 2.29 |  |  |  | 2.47 |  |  |  | 2.48 |
Distribution |  |  | 2.57 |  |  |  | 2.76 |  |  |  | 2.76 |
Storage |  |  | 1.89 |  |  |  | 1.79 |  |  |  | 1.59 |
General and other |  |  | 3.89 |  |  |  | 3.85 |  |  |  | 4.35 |
Virginia Power |  |  |  |  |  |  |  |  |
Generation |  |  | 2.84 |  |  |  | 2.69 |  |  |  | 2.52 |
Transmission |  |  | 2.29 |  |  |  | 2.51 |  |  |  | 2.52 |
Distribution |  |  | 2.76 |  |  |  | 3.18 |  |  |  | 3.19 |
General and other |  |  | 4.78 |  |  |  | 5.08 |  |  |  | 5.09 |
(1) Excludes rates for depreciation reported as discontinued operations.
Property, Plant and Equipment | Dominion Energy’s nonutility property, plant and equipment is depreciated using the straight-line method over the following estimated useful lives:
Asset |  | Estimated Useful Lives
Nonregulated generation-nuclear |  | 44 years
Nonregulated generation-other |  | 15-35 years
General and other |  | 5-59 years

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