Full Description

Dominion Resources, Inc. (Dominion), incorporated in 1983, is a producer and transporter of energy. The Company’s portfolio of assets includes approximately 27,000 megawatts of generation; 6,000 miles of electric transmission lines; 56,000 miles of electric distribution lines in Virginia and North Carolina; 14,000 miles of natural gas transmission, gathering and storage pipeline; 28,000 miles of gas distribution pipeline, exclusive of service lines of two inches in diameter or less, and 1.2 trillion cubic feet equivalent of natural gas and oil reserves. Dominion also owns the underground natural gas storage system and operates over 975 billion cubic feet of storage capacity and serves retail energy customers in 12 states. The Company operates in three segments: Dominion Virginia Power (DVP), Dominion Energy and Dominion Generation.

The Company’s principal subsidiaries are Virginia Electric and Power Company (Virginia Power), Dominion Energy, Inc. (DEI), Dominion Transmission, Inc. (DTI), Virginia Power Energy Marketing, Inc. (VPEM), Dominion Exploration and Production, Inc. (DEPI), The East Ohio Gas Company (Dominion East Ohio), Dominion Field Services, Inc. (DFS), Dominion Retail, Inc. (Dominion Retail) and Dominion Resources Services, Inc. (DRS). Virginia Power generates, transmits and distributes electricity for sale in Virginia and northeastern North Carolina. As of December 31, 2008, Virginia Power served approximately 2.4 million retail customer accounts, including governmental agencies, as well as, wholesale customers, such as rural electric co-operatives and municipalities.

DEI is involved in merchant generation, energy marketing and price risk management activities, and natural gas and oil exploration and production in the Appalachian basin of the United States. DTI operates a regulated interstate natural gas transmission pipeline and underground storage system in the Northeast, mid-Atlantic and Midwest states, and is engaged in the production, gathering and extraction of natural gas in the Appalachian basin. VPEM provides fuel, gas supply management and price risk management services to other Dominion affiliates and engages in energy trading activities.

DEPI explores for, develops and produces natural gas and oil in the Appalachian basin of the United States. DFS is involved in the gathering and aggregation of Appalachian natural gas supply and provides various marketing-related services to its customers. Dominion Retail markets gas, electricity and related products and services to residential and small commercial and industrial customers. As of December 31, 2008, these nonregulated retail energy marketing operations served approximately 1.6 million residential and small commercial and industrial customer accounts in the Northeast, mid-Atlantic and Midwest regions of the United States and in Texas. DRS provides accounting, legal, finance, and certain administrative and technical services to the Company’s subsidiaries.

As of December 31, 2008, the Company’s regulated gas distribution subsidiaries, Dominion East Ohio, Peoples Natural Gas Company (Peoples) and Hope Gas, Inc. (Hope), served approximately 1.7 million residential, commercial and industrial gas sales and transportation customer accounts in Ohio, Pennsylvania and West Virginia. Of these customers, approximately 500,000 are served by Peoples and Hope. It also operates a liquefied natural gas (LNG) import and storage facility in Maryland.

DVP

DVP includes the Company’s regulated electric transmission, distribution and customer service operations, as well as its non-regulated retail energy marketing operations. Its electric transmission and distribution operations serve residential, commercial, industrial and governmental customers in Virginia and northeastern North Carolina. DVP has approximately 6,000 miles of electric transmission lines of 69 kilovolt or more located in the states of North Carolina, Virginia and West Virginia. In addition, DVP’s electric distribution network includes approximately 56,000 miles of distribution lines, exclusive of service level lines, in Virginia and North Carolina.

Dominion Energy

Dominion Energy includes the Company’s Ohio regulated natural gas distribution company, regulated gas transmission pipeline and storage operations, regulated LNG operations and its Appalachian natural gas exploration and production (E&P) business. Dominion Energy also includes producer services, which aggregates natural gas supply, engages in natural gas trading and marketing activities and natural gas supply management and provides price risk management services to Dominion affiliates. The gas transmission pipeline and storage business serves Dominion’s gas distribution businesses and other customers in the Northeast, mid-Atlantic and Midwest. Its gas distribution operations serve residential, commercial and industrial gas sales and transportation customers in Ohio. Dominion Energy’s gas distribution network is located in the state of Ohio. This network involves approximately 18,500 miles of pipe, exclusive of service lines of two inches in diameter or less. Dominion Energy has approximately 11,890 miles of gas transmission, gathering and storage pipelines located in the states of Maryland, New York, Ohio, Pennsylvania, Virginia and West Virginia.

Dominion Energy operates 20 underground gas storage fields located in New York, Ohio, Pennsylvania and West Virginia, with more than 2,000 storage wells and approximately 345,600 acres of operated leaseholds. Dominion Energy also owns about 1.2 trillion cubic feet of natural gas and oil reserves and produces approximately 128 million cubic feet equivalent of natural gas and oil per day from its leasehold acreage and facility investments in Appalachia.

Dominion Generation

Dominion Generation includes the generation operations of the Company’s merchant fleet and regulated electric utility, as well as energy marketing and price risk management activities for its generation assets. Its utility generation operations primarily serve the supply requirements for its DVP segment’s utility customers. Its generation mix is diversified and includes coal, nuclear, gas, oil and renewables. The generation facilities of its electric utility fleet are located in Virginia, West Virginia and North Carolina. The generation facilities of its merchant fleet are located in Connecticut, Illinois, Indiana, Massachusetts, Pennsylvania, Rhode Island, West Virginia and Wisconsin.