Dominion Power 2013 Annual Report Download

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EVERY DAY WE DELIVER
ON OUR PROMISE
DOMINION RESOURCES, INC. 2013 SUMMARY ANNUAL REPORT

Table of contents

  • Page 1
    EVERY DAY WE DELIVER ON OUR PROMISE DOMINION RESOURCES, INC. 2013 SUMMARY ANNUAL REPORT

  • Page 2
    ... Power, Dominion's century-old electric utility in Virginia and northeast North Carolina, has about 6,400 miles of electric transmission lines. These high-voltage lines help ensure service reliability for the utility's 2.5 million customer accounts. During the next five years, Dominion plans...

  • Page 3
    ...per day. In 2013 at our Dominion Virginia Power electric utility, we converted three small coal-fired power stations to use biomass, principally tree tops and branches that remain unused from timbering operations, as fuel. These three stations - Altavista, Southampton and Hopewell - had become less...

  • Page 4
    ... and service reliability. Earnings-per-share growth. Dividend increases. Solid returns for you, our shareholders. MOUNT STORM TO DOUBS, WV-VA-MD COVE POINT LNG TERMINAL MOUNT STORM TO DOUBS The Mount Storm-to-Doubs transmission line runs from the Mount Storm substation in West Virginia, across...

  • Page 5
    ... Replacement (DEO) Blue Racer Midstream Joint Venture Cove Point Export DVP LINEMAN BRIDGEPORT, CT DOMINION GENERATION Generation Uprates Biomass Conversions Bremo Conversion Warren County Brunswick County Future Combined-Cycle Facility Azalea, Indy, Somers Solar Projects HOPEWELL, VA 2013...

  • Page 6
    08 DOMINION RESOURCES, INC. EVERY DAY WE ARE COMMITTED TO OUR CUSTOMERS, OUR INVESTORS AND OUR PEOPLE THOMAS F. FARRELL II CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER

  • Page 7
    ... development with the stable yet always growing Dominion Virginia Power utility, and you can expect (a) solid returns on your investment, (b) strong earnings per share growth and (c) commensurate increases in the dividend.* FINANCIAL REVIEW OF 2013 Dominion has had good fortune to be in the right...

  • Page 8
    ...or potential investors in our company, I discuss Dominion's four core values - safety, ethics, excellence and One Dominion, our term for teamwork. We expect everyone at Dominion to live these values each and every day. Indeed, an ethical company whose employees do their jobs safely and well not only...

  • Page 9
    ... 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Pipeline capacity source, company websites and internal research revised Jan. 20, 2014. GROWTH PLAN UPDATE: MARCELLUS FARMOUT • Agreements with CONSOL Energy and Triana Energy LLC to lease about 100,000 acres under Dominion...

  • Page 10
    ....08 64.69 84% 16% * Does not include Corporate and Other. REGULATED** UNREGULATED * Based on non-GAAP Financial Measures. See page 22 for GAAP Reconciliations. 2009-2012 recast to reflect Brayton Point and Kincaid as discontinued operations. ** The Regulated mix includes Electric Transmission...

  • Page 11
    ... In Virginia, North Carolina, West Virginia and Ohio, that means reliable utility service in all weather conditions, at all times. For our Dominion Transmission (DTI) customers - whether gas producers, shippers or end-user utilities - we must provide a steady flow of gas from point A to point B, and...

  • Page 12
    ... military veterans, who represented 22 percent of our new hires in 2013. In 2013 at our Virginia Power electric utility, we converted three small coal-fired power stations to use biomass, principally tree tops and branches that remain unused from timbering operations, as fuel. These three stations...

  • Page 13
    ... East Ohio, a steady investment that will continue for more than a decade. To support Marcellus production, in 2013 we brought into service two projects that move gas to markets or storage in the Northeast. At a combined cost of $84 million, the new pipelines and compressor and metering stations can...

  • Page 14
    ... expenditure plan reviewed and endorsed by Dominion's Board of Directors in late 2013. Dominion undertakes no obligation to update this information to reflect plan or project-specific developments, including regulatory developments, or other updates until the next annual update of the plan. Actual...

  • Page 15
    ... provide foreign markets for them. The Cove Point liquefaction project in Lusby, Md., at an anticipated cost of $3.4 billion to $3.8 billion, would be Dominion's largest in a generation. For Dominion, the Cove Point project breathes new life into the facility. Long-term terminal service agreements...

  • Page 16
    ...gas distribution system serving 1.3 million customer accounts in West Virginia and Ohio; and a liquefied natural gas terminal in Maryland. It also includes an interest in Blue Racer Midstream, LLC. BUSINESS LINES Operates the company's fleet of regulated power stations serving its electric utility...

  • Page 17
    ... 2013 As of Dec. 31, 2013 Dominion's diverse power generation fleet includes facilities powered by nuclear, coal, natural gas, oil, biomass, fuel cells, the sun, water and wind. It provides electricity for utility customers in Virginia and North Carolina. The segment also houses merchant generation...

  • Page 18
    ... public communications with analysts and investors. Dominion management believes operating earnings provide a more meaningful representation of the company's fundamental earnings power. RECONCILIATION OF OPERATING DIVIDEND PAYOUT RATIO (NON-GAAP) TO REPORTED DIVIDEND PAYOUT RATIO (GAAP) 2013 Data...

  • Page 19
    ... Vice President, Corporate Affairs Senior Vice President, Retail and Alternative Energy Solutions Senior Vice President, Strategy, Dominion Energy KATHERYN B. CURTIS Senior Vice President, Nuclear Operations, Dominion Nuclear FRED G. WOOD, III Senior Vice President, Power Generation, Dominion...

  • Page 20
    ... compared with the S&P 500 Index and the S&P 500 Utilities Index. INDEXED RETURNS Value of Investment at December 31 (includes reinvestment of dividends) 2008 2009 2010 2011 2012 2013 Dominion S&P 500 S&P 500 Utilities 100.00 100.00 100.00 114.52 126.46 111.91 1 3 1 .52 145.51 118.02 170...

  • Page 21
    ... Power's backbone for reliability. (Center) The Cove Point liquefaction project in Lusby, Md., is the company's largest project we have committed to building in a generation. (Bottom) To help meet customer demand in Virginia, Dominion is building the Warren County gas-fired, combined-cycle plant...

  • Page 22
    ...com Dominion Resources Services, Inc. Shareholder Services P.O. Box 26532 Richmond, Virginia 23261 - 6532 CORPORATE STREET ADDRESS Dominion Resources, Inc. P.O. Box 26532 Richmond, Virginia 23261 - 6532 INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Copies of Dominion's Summary Annual Report, Proxy...