Dominion Power 2013 Annual Report Download - page 4

EVERY DAY WE MAKE PROGRESS
PROJECTS UNDER CONSTRUCTION
MOUNT STORM TO DOUBS, WV–VA–MD
COVE POINT, MD
WARREN COUNTY, VA
COVE POINT LNG TERMINAL
American gas producers seeking new markets for their product do not need to
look any farther than Cove Point, Dominion’s liquefied natural gas (LNG) terminal
on the Chesapeake Bay in Lusby, Md. With export licenses in hand, and long-term
terminal services agreements with an aliate of Sumitomo Corp., of Japan,
and GAIL Global (USA), of India, Dominion is still awaiting a handful of federal
and state permits before it can begin constructing the estimated $3.4 billion to
$3.8 billion liquefaction facility. The project is expected to produce several
benefits, including a balance-of-trade reduction in America’s favor and new jobs,
economic activity and revenue for Maryland and Calvert County. Your company
aims to break ground in 2014 and put the liquefier into service in late 2017.
WARREN COUNTY POWER STATION
Since January 2011, Dominion has added about 1,200 net new megawatts of
generating capacity to Dominion Virginia Power’s service area, or enough to serve
300,000 homes. And more is needed. In January 2014, a new winter record for
peak demand was established, and the utility imported electricity from elsewhere
in order to meet its customers’ needs. Help is on the way in the form of
Warren County, a $1.1 billion natural gas-fired power station development in the
northwestern part of Virginia. The combined-cycle facility, which will use gas
and exhaust-heat steam to generate electricity, is expected to have a generating
capacity of 1,329 megawatts and enter service in late 2014.
MOUNT STORM TO DOUBS
The Mount Storm-to-Doubs transmission
line runs from the Mount Storm substation in
West Virginia, across Virginia, to the Doubs
substation in Maryland, and serves a vital
corridor on the East Coast. A $350 million
project to rebuild the line and increase
capacity by two-thirds began in 2011 and
is expected to be completed in the third
quarter of 2014. The transmission line is part
of Dominion Virginia Power’s 500-kilovolt
loop that is the backbone of reliability for
the utility’s transmission system. Over the
next several years, Dominion plans to
systematically rebuild this aging loop.
From 2014 to 2018, your company intends
to spend about $600 million annually in
growth capital for the transmission network.
04 DOMINION RESOURCES, INC. 05 DOMINION RESOURCES, INC.
From 2014 to 2018, Dominion plans to spend nearly $14 billion as part
of the company’s long-term energy infrastructure plan. That means new
power stations and transmission lines for Dominion Virginia Power,
replacement of bare steel pipe at Dominion East Ohio, and various
facilities and pipelines at Dominion Energy to help Appalachian
producers get their natural gas and natural gas liquids to existing
and/or potential markets. Our desired results? Customer satisfaction
and service reliability. Earnings-per-share growth. Dividend increases.
Solid returns for you, our shareholders.