Dominion Power 2011 Annual Report Download

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Dominion Resources, Inc.
2011 Summary Annual Report

Table of contents

  • Page 1
    Dominion Resources, Inc. 2011 Summary Annual Report

  • Page 2
    ... energy customers in 15 states.* For more information about Dominion, visit the company's website at www.dom.com. * All numbers are as of March 1, 2012. Contents IFC Company Profile 6 10 18 21 22 23 24 CEO Letter Consolidated Financial Highlights Dominion At A Glance - Operating and Service Areas...

  • Page 3
    ... in May 2011. Dominion Virginia Power energized the 500-kilovolt Meadow Brook-to-Loudoun transmission line serving Northern Virginia in April 2011. A MULTIBILLION DOLLAR SPENDING PLAN TARGETS DEMAND GROWTH. The 585-megawatt, coal- and biomass-fired Virginia City Hybrid Energy Center in Southwest...

  • Page 4
    ... power station, uprates at existing generating facilities, a retrofitted gas pipeline and environmental upgrades. This new infrastructure will serve our customers for decades. 1 BEAR GARDEN CENTRAL VIRGINIA Bear Garden, located in Central Virginia's Buckingham County, entered service in May 2011...

  • Page 5
    ... Hastings plant, along with construction at Natrium, will help producers in the "wet" gas regions move their gas and liquid products to market. 4 VIRGINIA CITY HYBRID ENERGY CENTER SOUTHWEST VIRGINIA The 585-megawatt Virginia City Hybrid Energy Center, located in Southwest Virginia's Wise County...

  • Page 6
    ... GATHERING ENHANCEMENT NORTHEAST EXPANSION TL 404 TIOGA AREA EXPANSION NATRIUM PHASE I ELLISBURG TO CRAIGS SABINSVILLE TO MORRISVILLE DOMINION GENERATION GENERATION UPRATES BEAR GARDEN VIRGINIA CITY HYBRID ENERGY CENTER BIOMASS CONVERSIONS / Dominion Resources / 2011 Summary Annual Report /

  • Page 7
    ... projects will help fuel this earnings and dividend growth. 2014 2015 2016 SKIFFES CREEK MOUNT STORM TO DOUBS CANNON BRANCH TO LIBERTY DOOMS-SHERWOOD-BREMO Regulated Infrastructure Investment Dollars in Billions Cumulative Planned Growth Capital Expenditures 2012-2016** DOMINION VIRGINIA POWER...

  • Page 8
    ... service area seldom experiences an earthquake and a hurricane in the same year. Yet in 2011, our electric utility, Dominion Virginia Power, experienced both in the same week - only a few days apart. Chairman, President and Chief Executive Officer / Dominion Resources / 2011 Summary Annual Report...

  • Page 9
    ... and effectively, accidents are reduced, creative solutions are found to problems and morale improves. A job safely and well done means reliable service to our customers and better returns for our owners. In 2011, employees delivered on important safety measures. I was proud when Dominion ended the...

  • Page 10
    ...wake of Hurricane Irene, thousands mobilized to restore power to 1.2 million customers. During the late evening hours on Friday, August 26, Hurricane Irene made landfall in North Carolina and began winding its way through Dominion Virginia Power's service area, bringing down trees and power lines in...

  • Page 11
    ... electric transmission employees, who - even with the huge power restoration effort from Hurricane Irene - went 164 straight days without a recordable incident in 2011. That safety performance sets the bar high. Employees at Sweeney Station in West Virginia, a part of our gas transmission business...

  • Page 12
    ...Operating Earnings* Dollars Per Share Year-End Stock Price Dollars Per Share 3.16 2.47 3.27 3.34 3.05 47.45 35.84 38.92 42.72 53.08 07 08 09 10 11 07 08 09 10 11 * Based on Non-GAAP Financial Measures. See page 22 for GAAP Reconciliations. / Dominion Resources / 2011 Summary Annual...

  • Page 13
    ... the Internet up and running 24/7, we must provide reliable electric service to data centers 24/7. * See page 22 for GAAP Reconciliation of 2012 Operating Earnings Guidance. ** All dividend declarations are subject to Board of Directors approval. / 2011 Summary Annual Report / Dominion Resources...

  • Page 14
    ... projects: • T he $1.8 billion coal- and biomass-fired Virginia City Hybrid Energy Center in Southwest Virginia is expected to come online in summer 2012. The 585-megawatt facility is on budget and on time. • A $1.1 billion, 1,300-megawatt gas-fired power station in Warren County, Va...

  • Page 15
    ... called this observance to the attention of all Virginia citizens. The program received the 2011 National Fuel Funds Network Corporate Excellence Award, which recognizes outstanding achievement by a company on behalf of its low-income customers. / 2011 Summary Annual Report / Dominion Resources /

  • Page 16
    Giving back to the communities where we live and work is essential to our success. From planting tree seedlings and marsh grasses to filling and distributing care packages for U.S. troops overseas, Dominion and its 15,800 employees are committed to the communities they serve. Through Dominion and ...

  • Page 17
    ... three coal-fired units to burn biomass and several other units from coal to natural gas. In all, we expect a net loss of more than 750 megawatts that would be replaced by new, cleaner generating capacity and new, high-voltage transmission lines. / 2011 Summary Annual Report / Dominion Resources /

  • Page 18
    ... returning home. At Dominion, we recruit veterans for careers as line workers, nuclear security officers, power station operators and other vital jobs because they are disciplined, safety-conscious and civic-minded. We launched the Troops to Energy Jobs program to fulfill this mission. In 2011...

  • Page 19
    ...exists; the U.S. Department of Labor estimates about 200,000 men and women will be leaving the service annually over the next decade. Third, veterans possess the skills that we need - a focus on safety, discipline and commitment to community. Enter Troops to Energy Jobs, a program joining with other...

  • Page 20
    ... vehicle owners who utilize off-peak charging of their vehicles. Dominion's 5-Year OSHA Recordable Incident Rates* 1.40 1.15 1.15 0.95 0.92 07 08 09 10 11 * Dominion Incident Rate = Number of Recordables x 200,000/Man-Hours Worked 18. / Dominion Resources / 2011 Summary Annual Report...

  • Page 21
    ...production 2011 Highlights • C ompleted the 590-megawatt Bear Garden natural gas-fired combined-cycle power station in Central Virginia on budget and on time. • Completed uprates at two coal units at Mount Storm and Chesterfield. • Began operation of a new scrubber at Virginia...

  • Page 22
    DOMINION'S OPERATING AND SERVICE AREAS As of December 31 Regulated Electric Distribution (VA and NC) Electric Transmission Lines (Bulk Delivery) Electric Transmission Lines (Bulk Delivery) Under Construction Does not reï¬,ect 2.2 million nonregulated retail customer accounts in 15 states. As of ...

  • Page 23
    ... 0 3.4 -20 3.2 3.1 2.9 3.1 3.2 -40 -60 -80 -100 98 âˆ'11 12 13 14 15 16 98 00 02 04 06 08 10 11 15 20 * All planned expenditures are preliminary and may be subject to regulatory and/or Board of Directors approvals. / 2011 Summary Annual Report / Dominion Resources / 21.

  • Page 24
    ... of the company's fundamental earnings power. Reconciliation of 2011 Segment Operating Earnings Proportion (non-GAAP) to Reported Earnings Proportion (GAAP) Operating Earnings* Millions Dominion Virginia Power Dominion Generation Dominion Energy Primary operating segments Corporate and Other...

  • Page 25
    ... and Chief Executive Officer, Dominion Virginia Power David A. Christian* Executive Vice President and Chief Executive Officer, Dominion Generation Gary L. Sypolt* Executive Vice President and Chief Executive Officer, Dominion Energy Robert M. Blue* Senior Vice President, Law, Public Policy and...

  • Page 26
    ... Direct Stock Purchase Plan You may buy Dominion common stock through Dominion Direct®. Please contact Shareholder Services for a prospectus and enrollment form or visit www.dom.com and click "Investors," and then select "Dominion Direct." Common Stock Listing New York Stock Exchange Trading symbol...

  • Page 27
    ... in Mathews County, Va. In 2011, employees volunteered about 160,000 hours of their time to various causes. Page 17: Left: Shelby L. Vessels is a groundsman for Dominion Virginia Power based in the Richmond, Va.-area's Midlothian District. Shown with Kevin F. Henderson, a Dominion lineman, Vessels...

  • Page 28
    ..., Inc. 120 Tredegar Street Richmond, Virginia 23219 Mailing Address Dominion Resources, Inc. P.O. Box 26532 Richmond, Virginia 23261-6532 Independent Registered Public Accounting Firm Deloitte & Touche LLP Richmond, Virginia Additional Information Copies of Dominion's Summary Annual Report, Proxy...