Profile: Dominion Resources Inc (D.N)
22 Jul 2016
Dominion Resources, Inc. (Dominion), incorporated on February 18, 1983, is a holding company. The Company is a producer and transporter of energy. The Company is a provider of electricity, natural gas and related services to customers in the eastern region of the United States. The Company operates through three segments: Dominion Virginia Power (DVP), Dominion Generation and Dominion Energy. The Company's portfolio of assets includes approximately 24,300 megawatt (MW) of generating capacity; 6,500 miles of electric transmission lines; 57,300 miles of electric distribution lines; 12,200 miles of natural gas transmission, gathering and storage pipeline, and 22,000 miles of gas distribution pipeline, exclusive of service lines. The Company also operates underground natural gas storage systems, with approximately 933 billion cubic feet (bcf) of storage capacity.
Dominion's operations are conducted through various subsidiaries, including Virginia Power and Dominion Gas. Virginia Power is a regulated public utility that generates, transmits and distributes electricity for sale in Virginia and northeastern North Carolina. Dominion Gas is a holding company that conducts business activities through a regulated interstate natural gas transmission pipeline and underground storage system in the Northeast, mid-Atlantic and Midwest states, regulated gas transportation and distribution operations in Ohio, and gas gathering and processing activities primarily in West Virginia, Ohio and Pennsylvania. The Company's operations also include a liquefied natural gas (LNG) import, transport and storage facility in Maryland. Dominion's nonregulated operations include merchant generation, energy marketing and price risk management activities, retail energy marketing operations and an equity investment in Blue Racer. Dominion owns the general partner and the limited partner interests in Dominion Midstream, which owns a preferred equity interest and the general partner interest in Cove Point, DCG and a noncontrolling partnership interest in Iroquois.
Dominion Virginia Power (DVP)
The DVP Operating Segment includes Virginia Power's regulated electric transmission and distribution operations, which serve approximately 2.5 million residential, commercial, industrial and governmental customers in Virginia and North Carolina. Virginia Power has approximately 6,500 miles of electric transmission lines of over 70 kilovolt (kV) or more located in the states of North Carolina, Virginia and West Virginia. In addition, Virginia Power's electric distribution network includes approximately 57,300 miles of distribution lines, exclusive of service level lines, in Virginia and North Carolina.
The Dominion Generation segment includes the generation operations of the Virginia Power regulated electric utility and its related energy supply operations. Virginia Power's utility generation operations primarily serve the supply requirements for the DVP segment's utility customers. The Dominion Generation segment includes Virginia Power's generation facilities and its related energy supply operations, as well as the generation operations of Dominion's merchant fleet and energy marketing, and price risk management activities for these assets. The segment derives its earnings primarily from the sale of electricity generated by Virginia Power's utility and Dominion's merchant generation assets, as well as from associated capacity and ancillary services.
Dominion Generation uses a variety of fuels to power its electric generation and purchases power for utility system load requirements and to satisfy physical forward sale requirements. Dominion Generation primarily utilizes long-term contracts to support its nuclear fuel requirements. Dominion Generation's natural gas and oil supply is obtained from various sources, including purchases from producers in the Mid-Continent and Gulf Coast regions, purchases from local producers in the Appalachian area and Marcellus and Utica regions. Dominion Generation manages a portfolio of natural gas transportation contracts that provides for reliable natural gas deliveries to its gas turbine fleet. Virginia Power has a total of over four licensed, operating nuclear reactors at Surry and North Anna in Virginia.
The Dominion Energy Segment of Dominion Gas includes Dominion's regulated natural gas operations. Dominion Gas' subsidiaries are DTI, East Ohio and Dominion Iroquois. Its Dominion Transmission, Inc. (DTI) involved in the gas transmission pipeline and storage business, serves gas distribution businesses and other customers in the Northeast, mid-Atlantic and Midwest. East Ohio, the primary gas distribution business of Dominion, serves residential, commercial and industrial gas sales, transportation and gathering service customers. Dominion Iroquois provides service to local gas distribution companies, electric utilities and electric power generators, as well as marketers and other end users, through interconnecting pipelines and exchanges primarily in New York. In addition to the operations of Dominion Gas, the Dominion Energy Operating Segment of Dominion also includes LNG operations and Hope Gas, Inc.'s (Hope) gas distribution operations in West Virginia, as well as Dominion's investments in the Blue Racer joint venture, Atlantic Coast Pipeline and Dominion Midstream. The Blue Racer joint venture concentrates on building new gathering, processing, fractionation and Natural gas liquids (NGL) transportation assets as the development of the Utica Shale formation increases. Dominion Gas' natural gas transmission, storage, processing and gathering operations are regulated primarily by Federal Energy Regulatory Commission (FERC).
Dominion Gas has approximately 10,500 miles of gas transmission, gathering and storage pipelines located in the states of Maryland, New York, Ohio, Pennsylvania, Virginia and West Virginia. Dominion Gas owns gas processing and fractionation facilities in West Virginia with a total processing capacity of approximately 270,000 million cubic feet (mcf) per day and fractionation capacity of approximately 580,000 Gals per day. Dominion Gas also operates approximately 20 underground gas storage fields located in New York, Ohio, Pennsylvania and West Virginia, with approximately 2,000 storage wells and approximately 399,000 acres of operated leaseholds. Dominion's LNG operations involve the import and storage of LNG at Cove Point and the transportation of regasified LNG to the interstate pipeline grid and mid-Atlantic and Northeast markets. The Cove Point Pipeline is an underground, interstate natural gas pipeline.
Dominion Resources Inc
120 TREDEGAR STREET
RICHMOND VA 23219
Company Web Links
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