Dominion Power 2007 Annual Report Download - page 4

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2Dominion 2007 Annual Report
Dominion at a Glance
DOMINION VIRGINIA POWER
Dominion Virginia Power operates
regulated electric distribution and
transmission franchises in most of
Virginia and northeastern North
Carolina and provides electric service
to nearly 2.4 million homes and
businesses in the two-state area.
Dominion Retail and all customer
service functions also are part of
this unit.
Business Lines
•Electric Transmission
•Electric Distribution
•Energy and Related Products and
Services in Competitive Retail Markets
2007 Highlights
•Connected nearly 50,000 new franchise
customer accounts
•Initiated management of Dominion’s
Climate Change Initiative to explore
potential business opportunities
•Enhanced energy conservation efforts,
including discounted compact fluores-
cent light bulbs
•Announced new transmission upgrades
in Northern and Southeastern Virginia
DOMINION GENERATION
Dominion Generation operates the
company’s fleet of regulated power
stations serving its electric utility
franchise, as well as a merchant
power fleet supplying wholesale mar-
kets in the Midwest and Northeast.
Together, they account for
about 26,500 megawatts of electric
generation.
Business Lines
•Utility Power Production
•Merchant Power Production
2007 Highlights
•Initiated major construction program to
meet demand growth in electric utility
service area
•Filed request to construct clean-coal,
carbon capture-compatible facility in
Virginia
•Filed for federal approval to construct
and operate new Virginia nuclear unit
•Invested with a partner in the company’s
first wind farm project in West Virginia,
now commencing operations
DOMINION ENERGY
Dominion Energy operates regulated
natural gas distribution, transmission
and storage businesses, including
regulated liquefied natural gas (LNG)
operations. It also is responsible for the
company’s Appalachian-based natural
gas and oil exploration and production
business and producer services. It
has operations in Ohio, Pennsylvania,
West Virginia, Virginia, Maryland
and New York.
Business Lines
•Natural Gas Transmission
•Natural Gas Distribution
•Natural Gas Storage
•Gas and Oil Exploration and
Production; Producer Services
2007 Highlights
•Continued major investment program to
expand mid-Atlantic natural gas trans-
portation and storage system
•Proceeded with expansion of Dominion
Cove Point LNG terminal in Maryland
•Introduced plans to create salt cavern
storage in Pennsylvania for natural gas
•Completed seventh year of uninterrupted
gas pipeline service to contracted
customers
Outlook
•Launch nine energy conservation pilot
programs
•Expect strong customer growth and
energy use to continue
•Prepare for 2009 filing of first base
rate review in a decade under new
Virginia law
Outlook
•Continue air and water environmental
upgrades at Brayton Point Power Station,
New England’s largest coal-fired station
•Partner on construction of major wind
farm project in Indiana
•Seek proposals for other renewable ener-
gy projects as part of commitment to
meet Virginia and North Carolina goals
Outlook
•Dominion Cove Point expansion to
enter service in 2008
•Plan to upgrade and extend natural gas
pipeline system in mid-Atlantic
•Anticipate regulatory decision on
requested rate increase at Dominion
East Ohio
Forecasted Proportion
of 2008 Primary Operating
Segment Earnings*
21%
56%
Forecasted Proportion
of 2008 Primary Operating
Segment Earnings*
23%
Forecasted Proportion
of 2008 Primary Operating
Segment Earnings*
* Excludes Corporate and Other segment.