Dominion Resources

Dominion Resources Inc. ({{nyse|D}}), commonly referred to as Dominion, is a power and energy company headquartered in [[Richmond, Virginia]] that supplies electricity in parts of Virginia and North Carolina and supplies [[natural gas]] to parts of West Virginia, Ohio, Pennsylvania, and eastern North Carolina. Dominion also has generation facilities in Wisconsin, Indiana, Illinois, Connecticut and Massachusetts.

Overview

The company's asset portfolio includes 27,000 [[megawatt]]s of power generation, {{convert|6000|mi|km}} of electric transmission lines, {{convert|14000|mi|km}} of natural gas transmission, gathering and storage pipeline, and {{convert|1.2|e12cuft|km3}} equivalent of natural gas and oil reserves. Dominion also operates the nation's largest natural gas storage facility, amounting to more than {{convert|975|e9cuft|m3}} of storage capacity. The company's [[Dominion Cove Point LNG, LP|Cove Point]] [[liquefied natural gas]] (LNG) import terminal on the [[Chesapeake Bay]] is one of the nation's largest and busiest facilities of its kind. Dominion serves more than 5 million retail energy customers in the Midwest, mid-Atlantic and Northeast regions of the U.S. In 2009, Dominion was listed at #157 on the [[Fortune 500]]. A book about the company's 100-year history, Dominion’s First Century: A Legacy of Service, was published in 2010.

Generation Mix

46 percent of Dominion's total electric production comes from [[coal]], 41 percent comes from [[nuclear power]], 9 percent comes from [[natural gas]], 1 percent comes from [[petroleum|oil]], and the remaining 3 percent comes from Hydro and other renewables. [[Renewable energy]] sources, primarily [[wind power|wind]] and [[biomass]], and [[energy conservation|conservation]] and [[Efficient energy use|efficiency]] programs will play an increasingly important role in meeting future energy needs and minimizing the company’s environmental footprint. According to a 2008 [[op-ed]] by Dominion senior vice president James K. Martin, the company plans to invest $3.5 billion toward the goal of reducing air emissions at existing stations by more than 80 percent by 2015.

History

Dominion's corporate roots reach back to the Colonial era through predecessor companies that operated canal and river barging, street lighting, railways, and electric trolleys. In 1795, some dams were built along the [[Appomattox river]] for industrial use, beginning Dominion's history. In 1909, Dominion began operating as an investor-owned electric utility under the name Virginia Railway & Power Company. In 1925, the name was changed to the Virginia Electric and Power Company (VEPCO), and Dominion was operated as a regulated [[monopoly]]. In 1940, Dominion doubled its service territory by merging with the Virginia Public Service Company. In 1980, Dominion Resources, Inc., was incorporated as the holding company for VEPCO. In the 1980s, VEPCO was divided into three operating divisions, Virginia Power, North Carolina Power, and West Virginia Power. In 1986, Dominion gained territory by entering [[Northern Virginia]] after purchasing the Virginia distribution territory of [[Pepco Holdings|Potomac Electric Power Company]] (PEPCO). In 1987, the West Virginia Power division was later sold to UtiliCorp United, but Dominion retained ownership of the [[Mount Storm Power Station]] in West Virginia. Throughout the 1980s and 1990s, Dominion initiated a series of expansions into regulated and non-regulated energy businesses, both domestically and internationally. During that era, the company also established itself as a world-class operator of [[Nuclear power|nuclear]] [[power station]]s. In 2000, Dominion bought Consolidated Natural Gas Co. of [[Pittsburgh, Pennsylvania|Pittsburgh]], and added natural gas service to its energy delivery network in the energy-intensive markets in the Northeastern quadrant of the U.S. In 2001, Dominion Bought Louis Dreyfus Natural Gas Company, adding to its Natural gas delivery network. Dominion re-branded all of its operations in 2000 to Dominion from Virginia and North Carolina Power as well as Consolidated Gas in order to create a more unified energy company. In 2007, as part of another effort to refocus on core electric and gas operations, Dominion sold most of its [[Houston, Texas|Houston]]-based natural gas and oil exploration and production business for pre-tax proceeds of nearly $14 billion. Its onshore US oil and gas reserves were sold in separate deals to [[Loews Corporation]] and to [[XTO Energy]], while its [[Gulf of Mexico]] reserves were sold to [[Eni]], and its Canadian reserves were sold to two Canadian trusts. Dominion still retains some production areas in [[Appalachia]], however.

Operations

[[File:Dominion Power Plant.jpg|thumb|right|Dominion's Chesterfield Power Station]] Dominion has three operating businesses:

Dominion Generation

Dominion generates electricity for both regulated sale in its Virginia and North Carolina markets, and also for wholesale in other markets in the Northeast and Midwest United States. Electricity generation is the largest unit of Dominion.

Dominion Virginia and North Carolina Power

Dominion is a regulated electric utility that transmits, and distributes electricity from its power plants in Virginia, North Carolina, and West Virginia to customers.

Dominion Energy

*Natural gas distribution *Natural gas transmission and storage *Producer services

Dominion Exploration and Production

Dominion Exploration and Production was the [[natural gas]] and [[oil]] exploration and production subsidiary of Dominion, and by 2007 was one of the largest independent natural gas and oil operators. During 2007, Dominion sold the majority of its oil and natural gas exploration and production assets to put additional focus on growing its electric generation and energy distribution, transmission, storage and retail businesses mainly in [[Virginia]], [[West Virginia]] and [[North Carolina]].

Expansion plans

To ensure reliable and adequate supplies of energy to meet growing customer demand, Dominion has embarked on a $12 billion [[infrastructure]] investment program — the largest in company history. From 2008–2010, Dominion’s capital spending plans include: {{Citation needed|date=February 2010}} *[[Natural gas]] pipeline and storage projects, including expansion of the [[Dominion Cove Point LNG, LP|Cove Point LNG facility]] in [[southern Maryland]]; *Customer service and gas distribution investments; *[[Oil]] and [[Natural gas|gas]] exploration and production investments; *Electric distribution and transmission upgrades and construction; *Renewable and [[baseload]] power generation construction, and efficiency and environmental enhancements at existing facilities; and *Conservation and energy efficiency program expansions.

Political and Charitable Contributions

The Dominion Political Action Committee (PAC) has been very active in donating to Virginia candidates. In 2009, the Dominion PAC donated a total of $814,885 with 56% going to [[Republican Party of Virginia|Republicans]] and 41% to [[Democratic Party of Virginia|Democrats]]. In 2008, the PAC donated $539,038 with 50% going to [[Republican Party of Virginia|Republicans]] and 47% to [[Democratic Party of Virginia|Democrats]] Dominion’s social investment program is carried out primarily through the Dominion Foundation. The foundation gives about 20 Million Dollars each year to charities in the states where Dominion does business.

High voltage lines

A number of controversies have surrounded the company's decisions to develop new routes for its [[electric power transmission]] lines. On February 13, 2007, [[The Washington Post]] reported that the power company was planning to change the route of one 500 [[Kilovolt|kV]] transmission line to appease critics in [[Northern Virginia]] from a route that would cut through protected [[forest]] and [[farm]]land to a southern route that would bypass nature preserves and [[American Civil War|Civil War]] sites by running adjacent to existing power lines. However, [[United States House of Representatives|U.S. Congressional Representative]] [[Frank Wolf]] ([[Republican Party (United States)|R]] - [[Virginia|VA]]) and Governor [[Tim Kaine]] ([[Democratic Party (United States)|D]]) remained opposed to the line, saying that there was no real need, and that Dominion was trying to bring cheap electricity from the [[Midwest]]. Dominion contested, saying that the line would bring needed electricity to growing [[Northern Virginia]]. The proposal was accepted by the [[State Corporation Commission]] (SCC) on October 7, 2008. On February 15, 2008, the SCC approved a controversial proposal for a 230 kV Dominion Virginia transmission line that would travel above ground for {{convert|1.8|mi}} along a [[woodland|wooded]] portion of the [[Washington & Old Dominion Railroad Trail]] between [[Leesburg, Virginia|Leesburg]] and Clarks Gap in [[Loudoun County, Virginia|Loudoun County]], which Dominion again claimed was necessary for power reliability. Less than three weeks later, on March 4 and March 5, 2008, the [[Senate of Virginia|Senate]] and the [[Virginia House of Delegates|House of Delegates]] of the Virginia General Assembly [[unanimity|unanimously]] passed emergency legislation that ordered the SCC to approve the underground construction of the line along that section of the trail as part of a four-part state-wide [[pilot (experiment)|pilot program]] for the development of underground transmission lines. Sponsored by Delegate [[Joe T. May]] ([[Republican Party (United States)|R]] - [[Loudoun County, Virginia|Loudoun]]), the legislation exempted the project from any requirements for further SCC analyses relating to the impacts of the route, including environmental impacts and impacts upon historical resources. The legislation went into effect when [[Governor of Virginia|Virginia Governor]] [[Tim Kaine]] approved it on April 2, 2008.

Wise County power plant

The company began constructing a 585 [[MWe]] [[coal]] fired [[power station]] in [[Wise County, Virginia]] in June 2008. {{As of|December 2009}}, the construction had reached the halfway point, with the plant scheduled to be fully operational in mid 2012. Dominion calls the plant the "Virginia City Hybrid Energy Center," which has been criticized by environmentalists as a way to make the plant sound environmentally friendly. The plant will burn up to 20% [[biomass]] along with Coal and a small amount of waste coal known as [[spoil tip|gob]]. The plant's [[carbon dioxide]] emissions are currently projected to be 5.4 million tons per year. High levels of [[mercury (element)|mercury]] emitted from the plant, as well as a [[fly ash]] dump near the [[Clinch River]] (a source of drinking water) are also of concern. The plant would also continue to support [[mountaintop removal]] coal mining. Supporters, including Governor [[Tim Kaine]], stated that as one of the largest importers of electricity, Virginia could become less dependent on importing electricity from other states with a new power plant. The plant brought 1000 workers to build, and will employ 75 full time, as well as pay 4 to 7 million dollars of [[tax]] revenue yearly to economically depressed Wise County. In September 2008, the site was blockaded by activists from the [[Rainforest Action Network]].

Cove Point LNG import facility

In 2001 when Dominion's [[Dominion Cove Point LNG, LP]] subsidiary was scheduled to reopen, many local residents were concerned about the proximity (only 3 miles) to the [[Calvert Cliffs Nuclear Power Plant]], and the damage that could be caused by an attack or an explosion at the plant. Residents thought that the [[Federal Energy Regulatory Commission]] did not consider the risks before opening the plant. In 2005, [[Washington Gas]] claimed that the [[natural gas]] [[import]]ed at the plant was too "hot," meaning that it contained fewer heavy [[hydrocarbons]] and burned hotter. Washington Gas said that the hot gas caused problems for its customers and caused many of its mains to break. Dominion denied that the imported gas was the cause of the breaks and stated that expanding the area serviced by the imported gas would not cause additional leaks in the [[District of Columbia]] and [[Northern Virginia]] suburbs.

Environmental record

[[File:Brayton Point Power Station.JPG|thumb|right|320px|The Brayton Point Power Station in Somerset, Mass]] As of March 2010, the Political Economy Research Institute ranks Dominion Resources 51st among corporations emitting airborne pollutants in the United States. Dominion's Toxic Score of 16,656 (pounds released x toxicity x population exposure) represents a significant improvement from both the 2008 report (Dominion ranked 27th with a Toxic Score of 58,642) and the 2005 report (Dominion ranked 19th with a Toxic Score of 117,712) In December 2007, a settlement between the [[United States Environmental Protection Agency]] (EPA) and Dominion Energy of Brayton Point called for the company's power generating plant to install new closed cycle cooling towers that provided significant protection to aquatic organisms in [[Mount Hope Bay]], which flows into [[Narragansett Bay]]. The 2007 settlement resolved an ongoing dispute that began in 2003. The EPA issued a final discharge permit called a National Pollution Discharge Elimination System (NPDES) for the Brayton Point Power Station requiring significant reductions in thermal discharges to, and water intake from, [[Mount Hope Bay]]. In 2002, Dominion was responsible for 1,110,703 pounds of [[gastrointestinal]] or liver toxicant emissions, 1,440,000 pounds of [[musculoskeletal]] toxicant emissions, and 1,489,763 pounds of suspected respiratory toxicant emissions, and 1,478,383 pounds of suspected skin or [[sense organ]] toxicant emissions among other emissions that are suspected to be hazardous.