Dominion Power 2010 Annual Report Download - page 15

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three demonstration areas of Virginia. It lays the ground-
work for long-term reliability and infrastructure improve-
ments and for an evolution of programs that are expected
to provide additional benefits to our customers, the
environment and our company. Pending the successful
completion of testing in the demonstration areas, Domin-
ion anticipates a future filing for full-scale deployment
across our Virginia and North Carolina service area.
Excluded from the list above is North Anna 3, a
proposed 1,500-megawatt nuclear reactor. Dominion
believes new nuclear power should be a major part of
the nation’s energy mix because it is safe, reliable, de-
pendable and efficient — and does not emit pollutants
that may contribute to climate change. In addition,
fuel diversity in electric generation is vital to counter-
ing price volatility of other fuels.
While we have not yet committed to construct-
ing the new unit, we have selected Mitsubishi Heavy
Industries’ reactor design. Your company will con-
tinue to seek a combined construction and operating
license (COL) from the Nuclear Regulatory Commis-
sion, which we expect to obtain in 2013. And we are
proceeding with preliminary site work, engineering
and planning activities. A decision to proceed with a
construction schedule at North Anna will not come
until we approach receipt of the COL.
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Over the next five years, your company intends to
spend $2.8 billion on regulated gas operations.
To help move larger volumes of conventional and
liquefied natural gas, Dominion already has completed
projects such as the expansion at Cove Point — Do-
minion’s liquefied natural gas facility in Maryland —
and the HUB and Rural Valley projects. All were on
time and on budget.
As the price of natural gas has waned, the demand
for its use as a fuel for electric production has grown.
Prospects for new products extraction, gathering, stor-
age and transmission appear great, both for conven-
tional and, as mentioned previously, Marcellus Shale
gas. Over the next five years, we will be investing in
infrastructure to meet the needs of the producer com-
munity and the marketplace.
Four projects are planned for transporting Marcel-
lus Shale gas — the Northeast Expansion, Marcellus
404, Ellisburg to Craigs, and Sabinsville to Morrisville.
The Northeast Expansion, Ellisburg to Craigs, and Sa-