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Income Taxes (Tables) | 3 Months Ended
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Mar. 31, 2025
Income Tax Disclosure [Abstract] |
Effective Income Tax |
|  | Dominion Energy |  |  | Virginia Power |
Three Months Ended March 31, |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
U.S. statutory rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
Increases (reductions) resulting from: |  |  |  |  |  |  |  |  |  |  |  |
State taxes, net of federal benefit |  |  | 4.8 |  |  |  | 2.8 |  |  |  | 4.4 |  |  |  | 4.4 |
Investment tax credits |  |  | (3.1 | ) |  |  | (2.4 | ) |  |  | (0.9 | ) |  |  | (0.7 | )
Production tax credits |  |  | (6.1 | ) |  |  | (1.8 | ) |  |  | (4.4 | ) |  |  | (0.9 | )
Reversal of excess deferred income taxes |  |  | (2.1 | ) |  |  | (3.9 | ) |  |  | (1.9 | ) |  |  | (1.7 | )
Remeasurements and settlements of uncertain tax positions |  |  | (4.0 | ) |  |  | — |  |  |  | — |  |  |  | — |
AFUDC - equity |  |  | (1.0 | ) |  |  | (1.3 | ) |  |  | (1.1 | ) |  |  | (0.7 | )
Absence of tax on noncontrolling interest |  |  | (2.2 | ) |  |  | — |  |  |  | (2.5 | ) |  |  |
Other, net |  |  | 0.1 |  |  |  | 0.1 |  |  |  | 0.2 |  |  |  | 0.2 |
Effective tax rate |  |  | 7.4 | % |  |  | 14.5 | % |  |  | 14.8 | % |  |  | 21.6 | %
The IRA created a nuclear production tax credit for electricity produced and sold beginning in 2024 and a clean fuel production tax credit for clean fuel produced and sold beginning in 2025. For the three months ended March 31, 2025, Dominion Energy’s and Virginia Power’s effective tax rate includes a $19 million income tax benefit for the nuclear production tax credit. For the same period, Dominion Energy’s effective tax rate includes a $14 million income tax benefit for the clean fuel production tax credit. The ultimate nuclear and clean fuel production tax credits realized by the Companies could vary significantly based on pending final U.S. Treasury guidance. No amounts were realized for the three months ended March 31, 2024.

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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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