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Dominion Overview

Dominion Overview. Dominion: In Virginia. Headquartered here in Virginia. More than 9,000 employees in the Commonwealth Annual Virginia payroll of more than $1 billion Professor Fuller of GMU estimates that Virginia Power alone represents

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Dominion Overview

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  1. Dominion Overview

  2. Dominion:In Virginia Headquartered here in Virginia • More than 9,000 employees in the Commonwealth • Annual Virginia payroll of more than $1 billion • Professor Fuller of GMU estimates • that Virginia Power alone represents • more than 1 percent of the Virginia economy • More than 73,000 Virginia shareholders • Total non-income tax payments • in Virginia in 2010: $406 million Mt. Storm Possum Point Major Generating Facilities in Virginia and West Virginia North Anna Bath Chesterfield Bremo Yorktown Clover Surry VA City Bear Garden Chesapeake Hopewell Altavista Southampton

  3. Upcoming Energy Gap • Virginia is the 2nd largest • importer of electricity; • existing capacity is well • below peak demand • “Powering Virginia” • strategy provides energy • roadmap for providing • Virginia's energy needs • New generation to meet • growing demands for • 4,500 additional MW Megawatts (MW) 22,000 4,500 MW by 2021 The “gap” 20,000 New generation under construction (1165 MW*) 18,000 16,000 2011 2021 Existing generating capacity * New generation under construction: Bear Garden (580 MW), VCHEC (585 MW) Source: PJM long-range forecast, January 2011 Expected peak demand

  4. New Generation Projects • Bear Garden • 580 MW natural gas-fired facility • Providing electricity for 145,000 homes • Expected completion in summer 2011 • Virginia City Hybrid Energy Center • 585 MW, coal-fired and biomass facility • Providing electricity for 146,000 homes • Expected completion in summer 2012 • Warren County • 1,300 MW, natural gas-fired facility • Providing electricity for 325,000 homes • Anticipating completion, pending approval, in 2014 • Biomass Conversions • Converting three coal stations to biomass facilities • Providing 150 MW renewable energy

  5. New Transmission Infrastructure and Reliability • Two dozen major transmission projects under construction or in development throughout Dominion service territory • More than 800 construction jobs Capital Expenditures: Transmission $ (millions)

  6. State Corporation Commission Filings • May 2 – Dominion filed three separate rate cases for approval with SCC • Transmission • Warren County • Fuel Factor • Transmission and natural gas power station applications part of “Powering Virginia” strategy • Continuation of reliable service • Reducing out-of-state electricity imports • Fuel Factor • First fuel rate increase in three years • Pass-through cost, no profit to Dominion • Annual adjustment to recover fuel and purchased power costs • Deferral proposed to lessen impact on ratepayers

  7. Record-Breaking TemperaturesNorfolk, Virginia Top 10 Days for Maximum Daily Temperature – 2010 July 6 July 20 July 7 June 27 July 23 July 18 July 29 June 24 July 24 July 25

  8. Warren County Power Station • 1,300 MW natural gas-fired combined cycle facility; enough electricity for more than 325,000 homes • Provide $950 million is direct and indirect economic benefits to the state during construction phase • More than 2,700 jobs – approximately 1,670 in Warren County, including 600 direct construction jobs • Post-construction: $35 million annually, approximately 100 jobs • $122 million in fuel savings for customers if Warren County were already in operation during 2010

  9. Possible Timeline for Environmental Regulatory Requirements for the Utility Industry

  10. Other State Issues • Pole attachments reviewed by SCC • Net metering review • Medical shutoffs regulations • Alternative energy generation

  11. Key Numbers • Dominion Virginia Power is one percent of the VA economy • Virginia is the second leading importer of electricity • 4,500 MW of new capacity needed over next decade • 2,615 MW of new generation under development and construction • Projected $9.4 billion investment over next five years in generation, environment, transmission and distribution

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