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Operating Revenue | 3 Months Ended
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Mar. 31, 2023
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Operating Revenue | Note 4. Operating Revenue The Companies’ operating revenue consists of the following:
|  | Dominion Energy |  |  |  | Virginia Power |
Three Months Ended March 31, |  | 2023 |  |  | 2022 |  |  |  | 2023 |  |  | 2022 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |
Regulated electric sales: |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 1,286 |  |  | $ | 1,287 |  |  |  | $ | 1,010 |  |  | $ | 1,015 |
Commercial |  |  | 1,070 |  |  |  | 898 |  |  |  |  | 866 |  |  |  | 717 |
Industrial |  |  | 220 |  |  |  | 197 |  |  |  |  | 116 |  |  |  | 103 |
Government and other retail |  |  | 244 |  |  |  | 272 |  |  |  |  | 229 |  |  |  | 258 |
Wholesale |  |  | 44 |  |  |  | 47 |  |  |  |  | 29 |  |  |  | 32 |
Nonregulated electric sales |  |  | 257 |  |  |  | 367 |  |  |  |  | 11 |  |  |  | 14 |
Regulated gas sales: |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  |  | 862 |  |  |  | 769 |  |  |  |  |  |  |  |
Commercial |  |  | 314 |  |  |  | 273 |  |  |  |  |  |  |  |
Other |  |  | 35 |  |  |  | 45 |  |  |  |  |  |  |  |
Nonregulated gas sales |  |  | 1 |  |  |  | 1 |  |  |  |  |  |  |  |
Regulated gas transportation and storage |  |  | 311 |  |  |  | 297 |  |  |  |  |  |  |  |
Other regulated revenues |  |  | 62 |  |  |  | 46 |  |  |  |  | 74 |  |  |  | 51 |
Other nonregulated revenues(1)(2) |  |  | 50 |  |  |  | 48 |  |  |  |  | 11 |  |  |  | 6 |
Total operating revenue from contracts with customers |  |  | 4,756 |  |  |  | 4,547 |  |  |  |  | 2,346 |  |  |  | 2,196 |
Other revenues(1)(3) |  |  | 496 |  |  |  | (268 | ) |  |  |  | 38 |  |  |  | (29 | )
Total operating revenue |  | $ | 5,252 |  |  | $ | 4,279 |  |  |  | $ | 2,384 |  |  | $ | 2,167 |
(1) See Note 19 for amounts attributable to affiliates. (2) Includes sales which are considered to be goods transferred at a point in time of $8 million and $11 million for the three months ended March 31, 2023 and 2022, 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 $5 million and $4 million for the three months ended March 31, 2023 and 2022, respectively, at Dominion Energy and $3 million and less than $1 million for the three months ended March 31, 2023 and 2022, respectively, at Virginia Power. (3) Includes alternative revenue of $57 million and $30 million at Dominion Energy and $27 million and $8 million at Virginia Power for the three months ended March 31, 2023 and 2022, respectively. 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 March 31, 2023 |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | Thereafter |  |  | Total |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dominion Energy(1) |  | $ | 51 |  |  | $ | 61 |  |  | $ | 54 |  |  | $ | 48 |  |  | $ | 46 |  |  | $ | 402 |  |  | $ | 662 |
(1) Includes no amounts for Virginia Power. At March 31, 2023 and December 31, 2022, Dominion Energy’s contract liability balances were $93 million and $150 million, respectively, and are recorded in other current liabilities and other deferred credits and other liabilities in its Consolidated Balance Sheets. At March 31, 2023 and December 31, 2022, Virginia Power’s contract liability balances were $51 million and $39 million, respectively, and are recorded in other current liabilities and other deferred credits and other liabilities in its Consolidated Balance Sheets. The Companies recognize revenue as they fulfill their obligations to provide service to their customers. During the three months ended March 31, 2023 and 2022, Dominion Energy recognized revenue of $145 million and $119 million, respectively, from the beginning contract liability balances. During the three months ended March 31, 2023 and 2022, Virginia Power recognized $39 million and $33 million, respectively, from the beginning contract liability balances.

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