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Operating Revenue
9 Months Ended
Sep. 30, 2025
Text Block [Abstract]  
Operating Revenue

Note 4. Operating Revenue

The Companies’ operating revenue consists of the following:

 

 

 

Dominion Energy

 

 

Virginia Power

 

 

 

Quarter-to-Date

 

 

Year-to-Date

 

 

Quarter-to-Date

 

 

Year-to-Date

 

Period Ended September 30,

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

(millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Regulated electric sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

$

1,712

 

 

$

1,535

 

 

$

4,628

 

 

$

4,184

 

 

$

1,279

 

 

$

1,155

 

 

$

3,494

 

 

$

3,183

 

Commercial(1)

 

 

1,627

 

 

 

1,248

 

 

 

4,211

 

 

 

3,533

 

 

 

1,353

 

 

 

998

 

 

 

3,489

 

 

 

2,851

 

Industrial

 

 

245

 

 

 

216

 

 

 

649

 

 

 

642

 

 

 

130

 

 

 

113

 

 

 

327

 

 

 

330

 

Government and other retail

 

 

344

 

 

 

303

 

 

 

954

 

 

 

812

 

 

 

324

 

 

 

285

 

 

 

900

 

 

 

763

 

Wholesale

 

 

54

 

 

 

39

 

 

 

135

 

 

 

108

 

 

 

41

 

 

 

29

 

 

 

107

 

 

 

82

 

Nonregulated electric sales

 

 

295

 

 

 

239

 

 

 

905

 

 

 

693

 

 

 

40

 

 

 

30

 

 

 

105

 

 

 

69

 

Regulated gas sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential

 

 

32

 

 

 

30

 

 

 

249

 

 

 

223

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

24

 

 

 

24

 

 

 

105

 

 

 

100

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

7

 

 

 

15

 

 

 

39

 

 

 

50

 

 

 

 

 

 

 

 

 

 

 

 

 

Regulated gas transportation and storage

 

 

10

 

 

 

6

 

 

 

26

 

 

 

15

 

 

 

 

 

 

 

 

 

 

 

 

 

Other regulated revenue

 

 

100

 

 

 

87

 

 

 

243

 

 

 

293

 

 

 

96

 

 

 

84

 

 

 

230

 

 

 

282

 

Other nonregulated revenues(2)(3)(4)

 

 

60

 

 

 

43

 

 

 

169

 

 

 

111

 

 

 

16

 

 

 

11

 

 

 

38

 

 

 

30

 

Total operating revenue from contracts
   with customers

 

 

4,510

 

 

 

3,785

 

 

 

12,313

 

 

 

10,764

 

 

 

3,279

 

 

 

2,705

 

 

 

8,690

 

 

 

7,590

 

Other revenues(2)(5)

 

 

17

 

 

 

156

 

 

 

100

 

 

 

295

 

 

 

32

 

 

 

57

 

 

 

98

 

 

 

198

 

Total operating revenue

 

$

4,527

 

 

$

3,941

 

 

$

12,413

 

 

$

11,059

 

 

$

3,311

 

 

$

2,762

 

 

$

8,788

 

 

$

7,788

 

 

(1)
Includes large scale users including certain data center customers.
(2)
See Note 19 for amounts attributable to affiliates.
(3)
Includes sales of renewable energy credits of $8 million and $10 million for the three months ended September 30, 2025 and 2024, respectively, and $23 million and $22 million for the nine months ended September 30, 2025 and 2024, respectively, at Dominion Energy and $4 million for both the three months ended September 30, 2025 and 2024 and $10 million and $9 million for the nine months ended September 30, 2025 and 2024, respectively, at Virginia Power.
(4)
Includes revenue from transition services agreements of $23 million and $17 million for the three months ended September 30, 2025 and 2024, respectively, and $74 million and $34 million for the nine months ended September 30, 2025 and 2024, respectively, at Dominion Energy.
(5)
Includes alternative revenue of $35 million and $24 million for the three months ended September 30, 2025 and 2024, respectively, and $117 million and $85 million for the nine months ended September 30, 2025 and 2024, respectively, at both Dominion Energy and Virginia Power.

Neither Dominion Energy nor Virginia Power have any amounts for revenue to be recognized in the future on multi-year contracts in place at September 30, 2025.

At September 30, 2025 and December 31, 2024, Dominion Energy’s contract liability balances were $45 million and $52 million, respectively. At September 30, 2025 and December 31, 2024, Virginia Power’s contract liability balances were $38 million and $46 million, respectively. The Companies’ contract liabilities are recorded in other current liabilities and other deferred credits and liabilities in the Consolidated Balance Sheets.

The Companies recognize revenue as they fulfill their obligations to provide service to their customers. During the nine months ended September 30, 2025 and 2024, Dominion Energy recognized revenue of $50 million and $45 million, respectively, from the beginning contract liability balances. During the nine months ended September 30, 2025 and 2024, Virginia Power recognized $46 million and $40 million, respectively, from the beginning contract liability balances.