Dominion Expands Power Generation Portfolio in 2004 - More on the Horizon in 2005

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Dominion (NYSE:D) (Richmond, Virginia) and its subsidiaries operate over 24,000-megawatts (MW) of power plants and have added 1,400 MW of generation in 2004. The company is in discussions to acquire over 3,500 MW and possibly construct another 500 MW.

In June 2004, Dominion Generation completed construction and began commercial operation of a 1,180 MW natural gas-fired combined-cycle plant in Fairless Township, Pennsylvania.

In November 2004, Subsidiary, Dominion Virginia Power added the 90 MW wood-fired Pittsylvania Power Station, located in Pittsylvania County, Virginia, as well as the 312 MW natural gas-fired Elizabeth River Combustion Turbine Station in Chesapeake, Virginia.

Click on the image at right to view the Dominion Power Generation Growth Location Map.

Dominion is studying the development of a 500 MW coal-fired power plant in Southwest Virginia. The new power plant, if built, will have to meet all the new emission standards, which will drive the cost up to about $750 million.

Dominion is also looking to acquire several coal-fired operations -the coal-fired 138MW Mecklenburg County Power Station (Clarksville, Virginia) and three plants from USGen New England LLC a subsidiary of National Energy & Gas Transmission Incorporated (Bethesda, Maryland). The plants involved are coal and/or oil fired. They are the 785MW Salem Harbor Power Station (Salem, Massachusetts), the 1,599 MW Brayton Point Power Station (Somerset, Massachusetts), and the 475 MW Manchester Street Power Station (Providence, Rhode Island). In the Midwest, Dominion is also attempting to purchase the 560 MW Kewaunee Nuclear Power Station (Kewaunee, Wisconsin) (presently held-up by Wisconsin Public Service Commission).

The current growth represents about a 6% increase in generation capabilities. Dominion could grow an additional 14.6%, if all the acquisitions go through. If the coal station were built in addition to the acquisitions generation growth would be about 22.5%.

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