Dominion Power 2008 Annual Report Download - page 21

2008 Dominion 19
Our Plusses. The first “plus” is a merchant generation platform that is
part of our Dominion Generation business unit. With over 9,000 megawatts
of fuel-diverse generating capacity, compared with more than 18,000 mega-
watts in our utility fleet, our merchant business gives us the opportunity to
take our skills as electric power generators into the Midwest and Northeast
regions. In the Northeast, competitive wholesale market prices are set by
competitive bidding and are generally higher than those in the Southeast. We
have invested to acquire and modernize older stations, bring them to 21st-cen-
tury environmental standards, and ensure that they create power efficiently.
Our merchant generation fleet is anchored by the largest nuclear power
station in New England, Millstone Power Station in Connecticut, but it also
includes stations fueled by coal, natural gas, oil and wind. In addition to
fuel diversity, we have geographic diversity and exposure to different pricing
levels in different wholesale markets. Our sales do not depend on a limited
number of sites, technologies or fuel sources, a flexibility that gives our com-
pany a distinct advantage.
Within our Dominion Virginia Power operating unit is another plus,
Dominion Retail. One of the largest competitive mass-market retail energy
companies in the U.S., Dominion Retail provides natural gas and electricity—
as well as home warranty and protection products and services—to 1.6
million customer accounts in 12 states where such competitive marketing is
allowed by law.
Dominion Energy’s plusses include Appalachian E&P, with its more than
9,000 producing wells and 1.2 trillion cubic feet equivalent of proved re-
serves, and Producer Services, which helps independent producers get their
natural gas supplies to market.
Our sales do not depend on a limited number
of sites, technologies or fuel sources, a
flexibility that gives our company a distinct
advantage.