Dominion Power 2010 Annual Report Download - page 10

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that time, when we decided to keep our E&P assets in
Appalachia, we had little knowledge of the deep and
rich gas reserves in the region’s Marcellus Shale.
The execution of our plan has resulted in:
Q71 percent of our operating earnings coming
from regulated operations in 2010, up from
42 percent in 2006;*
QOperating earnings per share growth of 35 percent
from 2006 to 2010;
QDividend increases of 33 percent from 2006
to 2010;
QDominion total shareholder return from January 1,
2006, through December 31, 2010, of 35.9
percent, compared to 21.1 percent for the Dow
Jones Utilities, 23.5 percent for the Dow Jones
Industrial Average, and 12.0 percent for
the S&P 500;
QStable or improved credit ratings from S&P,
Moody’s and Fitch. They rate Dominion’s senior
unsecured debt A-minus, Baa2 and BBB-plus,
respectively. S&P’s rating marks an improvement
over the 2006 rating of BBB. These rating agencies
rate Virginia Electric and Power Company senior
unsecured debt A-minus, A3 and A-minus,
respectively — an improvement from BBB, Baa1
and BBB-plus, respectively; and
QAP/E ratio of an 8 percent premium to that of our
peer average, as compared with a previous 12
percent discount.
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Expectation of future success is predicated on the con-
tinuation of our regulated infrastructure growth plan,
which was first introduced in 2006.
Our electric utility franchise in Virginia and North
Carolina, which includes approximately 18,400 mega-
watts of generating capacity, 6,100 miles of electric
transmission lines and 56,800 miles of electric distri-
bution lines, serves 2.4 million customer accounts.
We also serve 1.3 million gas distribution customer
accounts in Ohio and West Virginia and operate a gas
transmission pipeline and storage system that serves
much of the mid-Atlantic and Northeast.
* Based on Non-GAAP Financial Measures. See page 20 for GAAP
Reconciliations.