Dominion Power 2004 Annual Report Download - page 16

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D 2004/Page 14
Keep an eye on Dominion Retail as
another promising venue to build our
internal hedge. The pros at this unit of
our Dominion Delivery operating segment
are expanding our base of retail energy
customers in regions where retail choice
is a reality. At year end, Dominion Retail
had about 1.2 million customer accounts.
Such customers give us a ready market
for power or natural gas. For example,
we sold output from a Dominion mer-
chant generator in the Northeast to about
200,000 Dominion Retail customers.
Miss: Hurricane Ivan
Dominion President and Chief Operating
Officer Tom Farrell says he doesn’t like
hurricanes that start with “I.” In 2003,
Isabel took its terrible toll on investors
and customers. In 2004, Ivan set back our
production in the Gulf of Mexico.
When Ivan, with record-high waves
and wind, passed by Devils Tower’s off-
shore platform, it damaged the topsides
and sent the 90-foot tall completion rig
derrick to the bottom of the Gulf, 5,600
feet below. The storm interrupted the
production of wells already on line and
delayed the completion of five other wells.
Fortunately, our insurance is expected
to cover our delayed production.
Hit: Superior Operations Across
Our Business Lines
I’m proud that our culture is a core
strength. The people who staff and oper-
ate Dominion’s businesses act decisively,
focus on safety, and derive great plea-
sure in a job well done.
In 2004, as in past years, our people
exceeded expectations.
A bias for decisive action: Recall
that Hurricane Ivan caused major
problems far beyond the Gulf of Mexico
and into regions where we have utility
21,867
23,830 24,408
Electric Generation Capacity Growth
Megawatts
20022001
19,265
2000 2003
28,146
2004
30,000
15,000
0
2004 includes Brayton Point, Salem Harbor and Manchester Street power stations,
acquired January 1, 2005.
I’m proud that
our culture is a core
strength.
The people who
staff and operate
Dominion’s
businesses act
decisively, focus on
safety, and derive
great pleasure
in a job well done.