Dominion Power 2015 Annual Report Download

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EXECUTING TO MEET
CUSTOMER NEEDS...
Dominion Resources, Inc.
2015 Summary Annual Report

Table of contents

  • Page 1
    EXECUTING TO MEET CUSTOMER NEEDS...Dominion Resources, Inc. 2015 Summary Annual Report

  • Page 2
    ... of our 2015 Annual Report on Form 10-K, including the full financial statements, accompanies this Summary Annual Report and may also be obtained free of charge through our website at www.dom.com/investors or by writing to our Corporate Secretary at P.O. Box 26532, Richmond, Virginia 23261- 6532...

  • Page 3
    ... FIVE YEARS, YOUR COMPANY PLANS TO SPEND NEARLY $16 BILLION ON GROWTH PROJECTS TO MEET OUR CUSTOMERS' NEEDS. We are investing in an array of clean energy infrastructure, including natural gas and solar generation and pipelines serving utilities - such as Dominion Virginia Power - that are building...

  • Page 4
    ...mid-2014, Dominion Virginia Power completed a three-year rebuild of the Mount Storm to Doubs 500-kilovolt transmission line. The $336 million project increased capacity by two-thirds in the transmission corridor serving fast-growing Northern Virginia. Over the next five years, your company plans to...

  • Page 5
    WARREN COUNTY POWER STATION In 2014, the $1.1 billion Warren County Power Station, located in the northwestern part of Virginia, began commercial operations. It serves 335,000 Dominion Virginia Power customers nearly around-the-clock with three highly efficient natural gas turbines and a steam ...

  • Page 6
    ... electric and gas utilities in the mid-Atlantic and Southeast, including Dominion Virginia Power. Dominion is a partner in the $4.5 billion to $5 billion project that would move 1.5 billion cubic feet of gas per day into Virginia and North Carolina. 4 DOMINION RESOURCES 2015 SUMMARY ANNUAL REPORT

  • Page 7
    ...-scale solar serving our utility customers at Dominion Virginia Power. In Virginia, we plan to harness the power of the sun by deploying 400 megawatts of solar generation capacity through company investments and long-term power purchase agreements. DOMINION RESOURCES 2015 SUMMARY ANNUAL REPORT...

  • Page 8
    ... our customers' energy needs. DOMINION VIRGINIA POWER Dooms to Lexington 500 kV Rebuild Ashburn 230 kV Line Mosby to Brambleton 2nd 500 kV Line Skiffes Creek 500 kV Line Cunningham to Elmont 500 kV Rebuild Warrenton 230 kV Line Haymarket 230 kV Line Remington to Gordonsville 230 kV Line Idylwood...

  • Page 9
    2018 2019 2020 2021 Cunningham to Dooms 500 kV Rebuild Mount Storm to Dooms 500 kV Rebuild 230 kV End of Life Rebuilds DOMINION RESOURCES 2015 SUMMARY ANNUAL REPORT 7

  • Page 10
    THOMAS F. FARRELL II CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER 8 DOMINION RESOURCES 2015 SUMMARY ANNUAL REPORT

  • Page 11
    ... 1.3 million customer accounts in Ohio and West Virginia. We operate a merchant generation portfolio with nuclear, solar, natural gas, wind and fuel cell facilities in nine states. And we have natural gas infrastructure assets located principally in the Appalachian Basin, with gathering, processing...

  • Page 12
    ...2015, Dominion Virginia Power shattered its previous all-time peak-demand record by about 1,500 megawatts - at 21,651 megawatts on Feb. 20, 2015. No widespread outages were reported. Moreover, record natural gas throughput occurred in the pipeline systems of Dominion Transmission, Dominion East Ohio...

  • Page 13
    ... Sumitomo Corporation and Tokyo Gas Co., Ltd. • Japanese offtakers include large gas and electric utilities GAIL GLOBAL (USA) LNG LLC • U.S. subsidiary of GAIL (India) Limited • One of largest gas processing, distribution companies in India DOMINION RESOURCES 2015 SUMMARY ANNUAL REPORT 11

  • Page 14
    ...Supports growth of intermittent renewable power • Supports creation of more than 2,500 permanent jobs along route • Estimated annual property tax revenue of more than $25 million for local governments PROJECTED NATURAL GAS DEMAND IN VIRGINIA AND NORTH CAROLINA, 2015-2035* Billion cubic feet per...

  • Page 15
    ... and to the mobilized force of 4,000 men and women from Virginia Power and unaffected utilities in other states who lent a helping hand. Speaking of, when Dominion employees are not performing a public service, they are giving back to the communities where they live. In 2015, they volunteered nearly...

  • Page 16
    ... aging pipes at its two natural gas distribution companies, Dominion East Ohio and Dominion Hope. Your company plans to boost spending on the program to more than $200 million annually, reducing methane emissions and ensuring continued reliable service. 2015 SUMMARY ANNUAL REPORT DOMINION RESOURCES

  • Page 17
    ...2.80* 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 2012 2013 2014 2015 2016 * Based on non-GAAP Financial Measures. See page 22 for GAAP Reconciliations. * All dividend declarations are subject to Board of Directors approvals. DOMINION RESOURCES 2015 SUMMARY ANNUAL REPORT 15

  • Page 18
    ... are preliminary and may be subject to regulatory and/or Board of Directors approvals. GROWTH PLAN BENEFITS COMMUNITIES CO2 INTENSITY - DOMINION VIRGINIA POWER $37.8B* Growth 43,706 Construction Jobs $714M Local Property Tax Revenue Emissions Intensity Reductions (lbs/MWh) CO2 (Carbon Dioxide...

  • Page 19
    ... allocate capital and invest in our people, communities and customers to realize competitive returns and provide reliable service. Thank you for your continued ownership of Dominion. Sincerely, THOMAS F. FARRELL II CHAIRMAN, PRESIDENT AND CEO DOMINION RESOURCES 2015 SUMMARY ANNUAL REPORT 17

  • Page 20
    ...providing electric service to about 2.5 million customer accounts in the two-state area. 2015 PRIMARY OPERATING SEGMENT EARNINGS PERCENTAGES* 49% DOMINION GENERATION 30% DOMINION ENERGY 21% DOMINION VIRGINIA POWER * Excludes Corporate and Other Segment. BUSINESS LINES • Electric transmission...

  • Page 21
    ... 345 megawatts of solar generating capacity. • Complete and bring online the 1,358-megawatt, gas-fired combined-cycle facility in Brunswick County, Va. • Receive SCC approval for Greensville and 56 megawatts of utility-scale solar in Virginia. DOMINION RESOURCES 2015 SUMMARY ANNUAL REPORT 19

  • Page 22
    ... of service our people provide. DOMINION VIRGINIA POWER This operating segment consists of 57,315 miles of distribution lines and 6,500 miles of transmission lines, and serves about 2.5 million customer accounts in Virginia and northeastern North Carolina. WELL-MANAGED ASSETS SPUR GROWTH In 2015...

  • Page 23
    ... customer accounts in 14 states. DOMINION GENERATION Dominion's diverse power generation fleet includes facilities powered by nuclear, coal, natural gas, oil, biomass, fuel cells, sun, water and wind. The segment provides electricity to utility customers in Virginia and North Carolina and houses...

  • Page 24
    ... principles. At this time, Dominion management is unable to estimate the aggregate impact, if any, of these items on reported earnings. Accordingly, Dominion is unable to provide a corresponding GAAP equivalent for its operating earnings guidance. 22 DOMINION RESOURCES 2015 SUMMARY ANNUAL REPORT

  • Page 25
    ..., Customer Service and Business Development, Dominion Energy MARK O. WEBB Vice President, General Counsel & Chief Risk Officer EDWARD H. BAINE Senior Vice President, Distribution, Dominion Virginia Power PAUL D. KOONCE* Executive Vice President and Chief Executive Officer - Dominion Generation...

  • Page 26
    ... our website at www.dom.com. DOMINION DIRECT® You may purchase Dominion common stock through Dominion Direct ®, the company's direct stock purchase and dividend reinvestment plan. Bank drafts for purchases, full and partial reinvestment of dividends as well as safekeeping options of depositing...

  • Page 27
    ... the past several years, the work of Dominion Virginia Power's linemen has improved service reliability for our customers. Page 4: Top: Sarah Perkinson (at left) volunteers her time in the Richmond, Va.area for natural and historic preservation. Warren County employees (at right, from left to right...

  • Page 28
    ... Services P.O. Box 26532 Richmond, Virginia 23261-6532 [email protected] 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 Statement and reports...