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April 27, 2015 7:30 AM ET

Electric Utilities

Company Overview of Virginia Electric and Power Company

Company Overview

Virginia Electric and Power Company, a regulated public utility, generates, transmits and distributes electricity for sale in Virginia and North Carolina. It operates in two segments, DVP and Dominion Generation. The Dominion Virginia Power segment is engaged in regulated electric transmission and distribution operations, including customer service. It has approximately 6,400 miles of electric transmission lines of approximately 69 kilovolt located in the states of North Carolina, Virginia, and West Virginia. This segment serves approximately 2.5 million customers. The Dominion Generation segment is involved in the generation operations of regulated electric utility; and its related energy s...

120 Tredegar Street

Richmond, VA 23219

United States

Founded in 1909

6,800 Employees

Phone:

804-819-2000

Key Executives for Virginia Electric and Power Company

Chairman, Chief Executive Officer, Member of Audit Committee, Chairman of Dominion Resources, Inc, Chief Executive Officer of Dominion Resources, Inc and President of Dominion Resources, Inc
Age: 60
President and Chief Operating Officer
Age: 54
President and Chief Operating Officer
Age: 59
President and Chief Nuclear Officer
Age: 56
President and Director
Age: 46
Compensation as of Fiscal Year 2014.

Virginia Electric and Power Company Key Developments

Dominion Virginia Power Names Scott Miller as Vice President-Electric Transmission

Dominion East Ohio announced the appointment of Scott Miller as vice president-Electric Transmission for Dominion Virginia Power in Richmond. Miller joined Dominion in 1997 as a financial analyst in Corporate Planning & Analysis. In 1999, he was promoted to senior financial analyst and became manager-Mergers & Acquisitions in 2001. He was named director-Financial Analysis for Dominion Generation in 2004, and was promoted to vice president-Financial Management, Dominion Energy, in October 2007. He became vice president-Financial Management, Dominion Virginia Power, in June 2009. He was named vice president Budgeting, Business Planning & Market Analysis in January 2011.

Dominion Virginia Power Plans to Construct Natural Gas-Fuelled Power Station of Around 1600-Megawatts in Greensville County, Virginia

Dominion Virginia Power is planning to construct a natural gas-fuelled power station of around 1600-megawatts, in Greensville County, Virginia, USA. The project requires an investment of more than USD 1 billion and is likely to be a combined-cycle facility consisting of three gas-fired combustion turbines and a steam turbine designed to generate enough power for 400,000 typical homes at peak demand. The facility requires regulatory approval and is to create more than 1,000 jobs at the peak of construction and be operational in 2019 to meet projected demand growth. When the power station starts operations, it will have around 45 full-time employees.

Five Utility Companies Mulls Acquisition Of Danville Power & Light

Appalachian Power Company, Virginia Electric and Power Company, Mecklenburg Electric Cooperative, Duke Energy Corporation (NYSE:DUK) and Central Virginia Electric Cooperative, Inc. are seeking acquisition of stake in Danville Power & Light. Representatives from five electric utilities have expressed their interest in acquiring all or part of Danville Power & Light on March 23, 2015, in case if the Danville Utility Commission decides to sell it. A meeting which was held at the Municipal Building in order to receive a short overview of DP&L s assets, power supply and customer base, was attended by AEP/Appalachian Power, Dominion Virginia Power, Mecklenburg Electric Cooperative, Duke Energy and Central Virginia Electric Cooperative representatives. King warned that a sale would not come as a quick option and would take two years to free the utility of contracts for power supply or may be much more time to receive permission from the State Corporation Commission to approve the transfer. According to John Lee, President and Chief Executive Officer of Mecklenburg Electric Cooperative, said, “His company is very much keen in expanding and bringing more value to current and future customers.” John Lee added,” We are in it for the long haul. We are here today with good intentions.”

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 8, 2015
7 Acres of Lexington Seven
 

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