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Operating Revenue | 12 Months Ended
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Dec. 31, 2023
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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, |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2023 |  |  | 2022 |  |  | 2021 |
(millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regulated electric sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 5,141 |  |  | $ | 5,261 |  |  | $ | 4,509 |  |  | $ | 3,863 |  |  | $ | 4,039 |  |  | $ | 3,366 |
Commercial |  |  | 4,556 |  |  |  | 4,480 |  |  |  | 3,194 |  |  |  | 3,632 |  |  |  | 3,647 |  |  |  | 2,417 |
Industrial |  |  | 887 |  |  |  | 901 |  |  |  | 748 |  |  |  | 440 |  |  |  | 472 |  |  |  | 367 |
Government and other retail |  |  | 1,036 |  |  |  | 1,235 |  |  |  | 921 |  |  |  | 965 |  |  |  | 1,172 |  |  |  | 862 |
Wholesale |  |  | 176 |  |  |  | 234 |  |  |  | 175 |  |  |  | 116 |  |  |  | 132 |  |  |  | 107 |
Nonregulated electric sales |  |  | 758 |  |  |  | 1,249 |  |  |  | 1,005 |  |  |  | 65 |  |  |  | 68 |  |  |  | 44 |
Regulated gas sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  |  | 293 |  |  |  | 331 |  |  |  | 322 |  |  |  |  |  |  |  |  |  |
Commercial |  |  | 145 |  |  |  | 188 |  |  |  | 160 |  |  |  |  |  |  |  |  |  |
Other |  |  | 79 |  |  |  | 168 |  |  |  | 108 |  |  |  |  |  |  |  |  |  |
Regulated gas transportation and storage |  |  | 18 |  |  |  | 38 |  |  |  | 35 |  |  |  |  |  |  |  |  |  |
Other regulated revenues |  |  | 253 |  |  |  | 296 |  |  |  | 248 |  |  |  | 238 |  |  |  | 277 |  |  |  | 234 |
Other nonregulated revenues(1)(2) |  |  | 145 |  |  |  | 171 |  |  |  | 236 |  |  |  | 53 |  |  |  | 61 |  |  |  | 73 |
Total operating revenue from contracts with customers |  |  | 13,487 |  |  |  | 14,552 |  |  |  | 11,661 |  |  |  | 9,372 |  |  |  | 9,868 |  |  |  | 7,470 |
Other revenues(1)(3) |  |  | 906 |  |  |  | (614 | ) |  |  | (242 | ) |  |  | 201 |  |  |  | (214 | ) |  |  | — |
Total operating revenue |  | $ | 14,393 |  |  | $ | 13,938 |  |  | $ | 11,419 |  |  | $ | 9,573 |  |  | $ | 9,654 |  |  | $ | 7,470 |
(1) See Note 25 for amounts attributable to related parties and affiliates. (2) Includes sales of renewable energy credits of $44 million, $42 million and $33 million for the years ended December 31, 2023, 2022 and 2021, respectively, at Dominion Energy and $29 million, $18 million and $21 million for the years ended December 31, 2023, 2022 and 2021, respectively, at Virginia Power. (3) Includes alternative revenue of $162 million, $72 million and $44 million at both Dominion Energy and Virginia Power for years ended December 31, 2023, 2022 and 2021, respectively. Neither Dominion Energy nor Virginia Power have any amounts for revenue to be recognized in the future on multi-year contracts in place at December 31, 2023. 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, 2023 and 2022, Dominion Energy’s contract liability balances were $47 million and $51 million, respectively. At December 31, 2023 and 2022, Virginia Power’s contract liability balances were $40 million and $39 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, 2023 and 2022, Dominion Energy recognized revenue of $48 million and $42 million from the beginning contract liability balance. During the years ended December 31, 2023 and 2022, Virginia Power recognized revenue of $39 million and $33 million, respectively, from the beginning contract liability balance.

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