Dominion Power 2001 Annual Report Download - page 11

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Current Generation
Portfolio
Virginia: Deregulation
That Will Work
I’ve written to you before about
the importance of Virginia’s
electric deregulation plan.
Customer choice began this year
in Virginia on New Year’s Day.
Thanks to legislators and
policymakers who share our
belief in responsible regulation
and free markets, a deregulation
plan is in place that works for
both investors and consumers.
Because of the lawmakers’
hard work, common sense and
foresight, Virginia consumers are
insulated from price and supply
uncertainty. Capped rates are in
place until July 2007—providing
enough time for healthy retail
markets to develop. If we
operate more efficiently,
management can reward
shareholders with the savings
by selling excess power to
higher-paying customers in
other regions.
This bears repeating,
especially as certain pundits and
politicians attempt to crush
deregulation in the wake of
California’s unique failure to
keep its lights on. As we see it,
California didn’t deregulate
or regulate. Even worse, its
regulators and politicians
9
Millstone
Coal
Natural Gas
Nuclear
Hydro
Oil/Gas Capacity
at Plant
Natural Gas
Existing Generation
Stations
New Generation Planned/
Under Development
Elwood
Kincaid
Troy
Dresden
Morgantown
Pleasants
Bath
Clover
Armstrong Fairless Works
Remington
Possum Point
North Anna
Yorktown
Surry
Chesterfield
Bremo
Gaston
December 31, 2001
Mt. Storm
Person
Roanoke Rapids
Chesapeake
Ladysmith
Gratiot
Montgomery
Hickman