Dominion Power 2005 Annual Report Download - page 10

Download and view the complete annual report

Please find page 10 of the 2005 Dominion Power annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 104

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104

As I begin my first year as your chief executive
officer, I want to thank outgoing CEO Tom Capps
for his vision and energy. When he joined the
company in 1984, Dominion operated mainly as a
Virginia-based electric utility with a market value of about
$2.5 billion. Today, we are an integrated energy company
that makes, moves and sells electricity, natural gas and oil.
At year-end, our market value stood at nearly $27 billion—
truly a remarkable performance and a tremendous legacy
for Tom to leave behind.
Today Dominion is well focused, financially healthy and
performing at superior levels of efficiency. Our integrated
energy company operates in more than 20 states, western
Canada and the Gulf of Mexico. Our businesses are widely
recognized for their quality.
We have the added advantage of motivated employees
who are the best at what they do. This was evident at a
meeting I hosted last year in Richmond. Packing an audito-
rium were more than 200 members of Dominion’s manage-
ment team who lead natural gas and oil engineers, nuclear
plant operators, geologists, pipeline builders and experts in
many complex fields. Dozens of other dedicated profession-
als joined us by video conference at seven company sites in
New England, the Midwest, mid-Atlantic and Gulf regions.
Dear Shareholders
Today Dominion is well focused,
financially healthy and performing
at superior levels of efficiency.
Thomas F. Farrell, II President and Chief Executive Officer