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Operating Revenue | 12 Months Ended
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Dec. 31, 2022
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Operating Revenue | NOTE 4. OPERATING REVENUE The Companies’ operating revenue consists of the following:
|  | Dominion Energy |  |  | Virginia Power |
Year Ended December 31, |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2022 |  |  | 2021 |  |  | 2020 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulated electric sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 5,261 |  |  | $ | 4,509 |  |  | $ | 4,833 |  |  | $ | 4,039 |  |  | $ | 3,366 |  |  | $ | 3,677 |
Commercial |  |  | 4,480 |  |  |  | 3,194 |  |  |  | 3,102 |  |  |  | 3,647 |  |  |  | 2,417 |  |  |  | 2,342 |
Industrial |  |  | 901 |  |  |  | 748 |  |  |  | 730 |  |  |  | 472 |  |  |  | 367 |  |  |  | 380 |
Government and other retail |  |  | 1,235 |  |  |  | 921 |  |  |  | 868 |  |  |  | 1,172 |  |  |  | 862 |  |  |  | 804 |
Wholesale |  |  | 234 |  |  |  | 175 |  |  |  | 128 |  |  |  | 132 |  |  |  | 107 |  |  |  | 90 |
Nonregulated electric sales |  |  | 1,249 |  |  |  | 1,005 |  |  |  | 823 |  |  |  | 68 |  |  |  | 44 |  |  |  | 19 |
Regulated gas sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  |  | 1,816 |  |  |  | 1,455 |  |  |  | 1,283 |  |  |  |  |  |  |  |  |  |
Commercial |  |  | 714 |  |  |  | 527 |  |  |  | 457 |  |  |  |  |  |  |  |  |  |
Other |  |  | 208 |  |  |  | 135 |  |  |  | 88 |  |  |  |  |  |  |  |  |  |
Nonregulated gas sales |  |  | 25 |  |  |  | 96 |  |  |  | 174 |  |  |  |  |  |  |  |  |  |
Regulated gas transportation and storage |  |  | 1,047 |  |  |  | 945 |  |  |  | 801 |  |  |  |  |  |  |  |  |  |
Other regulated revenues |  |  | 313 |  |  |  | 265 |  |  |  | 327 |  |  |  | 277 |  |  |  | 234 |  |  |  | 299 |
Other nonregulated revenues(1)(2) |  |  | 242 |  |  |  | 195 |  |  |  | 138 |  |  |  | 61 |  |  |  | 73 |  |  |  | 50 |
Total operating revenue from contracts with customers |  |  | 17,725 |  |  |  | 14,170 |  |  |  | 13,752 |  |  |  | 9,868 |  |  |  | 7,470 |  |  |  | 7,661 |
Other revenues(1)(3)(4) |  |  | (551 | ) |  |  | (206 | ) |  |  | 420 |  |  |  | (214 | ) |  |  | — |  |  |  | 102 |
Total operating revenue |  | $ | 17,174 |  |  | $ | 13,964 |  |  | $ | 14,172 |  |  | $ | 9,654 |  |  | $ | 7,470 |  |  | $ | 7,763 |
(1) See Note 25 for amounts attributable to related parties and affiliates. (2) Includes sales which are considered to be goods transferred at a point in time of $45 million, $34 million and $22 million for the years ended December 31, 2022, 2021 and 2020, respectively, at Dominion Energy, primarily consisting of sales of commodities related to nonregulated extraction activities and other miscellaneous products. Additionally, sales of renewable energy credits were $42 million, $33 million and $20 million for the years ended December 31, 2022, 2021 and 2020, respectively, at Dominion Energy and $18 million, $21 million and $11 million for the years ended December 31, 2022, 2021 and 2020, respectively, at Virginia Power. (3) Includes alternative revenue of $95 million, $56 million and $119 million at Dominion Energy and $72 million, $44 million and $82 million at Virginia Power for years ended December 31, 2022, 2021 and 2020, respectively. (4) Includes revenue associated with services provided to discontinued operations of $5 million and $4 million for the years ended December 31, 2021 and 2020, respectively, at Dominion Energy. 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 Dominion Energy expects to recognize this revenue. These revenues relate to contracts containing fixed prices where Dominion Energy will earn the associated revenue over time as it stands 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 Dominion Energy elects to recognize revenue in the amount it has a right to invoice.
Revenue expected to be recognized on multi-year contracts in place at December 31, 2022 |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | Thereafter |  |  | Total |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dominion Energy(1) |  | $ | 68 |  |  | $ | 61 |  |  | $ | 54 |  |  | $ | 48 |  |  | $ | 46 |  |  | $ | 402 |  |  | $ | 679 |
(1) Includes no amounts for Virginia Power. 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, 2022 and 2021, Dominion Energy’s contract liability balances were $150 million and $124 million, respectively. At December 31, 2022 and 2021, Virginia Power’s contract liability balances were $39 million and $33 million, respectively. The Companies’ contract liabilities are recorded in other current liabilities and other deferred credits and other liabilities in the Consolidated Balance Sheets. The Companies recognize revenue as they fulfill their obligations to provide service to their customers. During the years ended December 31, 2022 and 2021, Dominion Energy recognized revenue of $118 million and $124 million from the beginning contract liability balance. During the years ended December 31, 2022 and 2021, Virginia Power recognized revenue of $33 million and $36 million, respectively, from the beginning contract liability balance.

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