January 21, 2017 7:17 PM 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, Dominion Virginia Power (DVP) and Dominion Generation. The DVP segment engages in the regulated electric transmission and distribution operations, including customer service. It has approximately 6,500 miles of electric transmission lines of 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 supply ...

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

Chief Executive Officer, President and Director
Age: 48
President and Chief Operating Officer
Age: 56
President and Chief Operating Officer
Age: 61
President and Chief Nuclear Officer
Age: 58
Chief Financial Officer, Executive Vice President, Director and Member of Audit Committee
Age: 58
Compensation as of Fiscal Year 2016.

Virginia Electric and Power Company Key Developments

University of Virginia, Darden School of Business and Dominion Virginia Power Launch Solar Partnership

The University of Virginia and its Darden School of Business have entered into an innovative solar power partnership with Dominion Virginia Power. The agreement positions UVA to achieve key sustainability targets, while further expanding Dominion's renewable energy initiatives. Under the agreement, the University and Darden will purchase the entire output of electricity produced at a new, 160-acre solar facility in King William County for the next 25 years. The UVA Hollyfield Solar project - owned by Dominion, who will construct and operate it - is expected to produce an estimated 17 megawatts of alternating current, a figure representing about 12% of the University's electric demand. The Darden School, as a participant in the partnership, will assume responsibility for about 25% of the electricity production, which will enable the school to achieve its long-term zero-carbon goal.

Virginia Electric and Power Company Names Robert Blue as CEO, Effective January 1, 2017

Virginia Electric and Power Company named Robert Blue as CEO effective Jan. 1, 2017. Blue will continue to be the president of Dominion Virginia Power but will give up his position as senior vice president for law, regulation, environment and policy. He has been with the company since 2005 and has served in the role since January 2016.

Dominion Resources, Inc., Virginia Electric and Power Company, Dominion Gas Holdings, LLC and Questar Gas Company Enter into a $5,000,000,000 Second Amended and Restated Revolving Credit Agreement

On November 10, 2016, Dominion Resources, Inc. (Dominion), and its wholly-owned subsidiaries, Virginia Electric and Power Company (Virginia Power), Dominion Gas Holdings, LLC (Dominion Gas) and Questar Gas Company (Questar Gas), entered into a $5,000,000,000 Second Amended and Restated Revolving Credit Agreement (Core Credit Facility) with JPMorgan Chase Bank, N.A., as Administrative Agent, Mizuho Bank Ltd., Bank of America, N.A., Barclays Bank PLC and Wells Fargo Bank, N.A., as Syndication Agents, and other lenders named therein. Also on November 10, 2016, Dominion, Virginia Power, Dominion Gas and Questar Gas, entered into a $500,000,000 Second Amended and Restated Revolving Credit Agreement (LOC Facility and, together with the Core Credit Facility, the Amended and Restated Credit Facilities) with Keybank National Association, as Administrative Agent, U.S. Bank National Association, as Syndication Agent, and other lenders named therein. The purpose of the Amended and Restated Credit Facilities, which amend and restate their respective predecessor agreements in their entirety, is to add Questar Gas, which became a subsidiary of Dominion in September 2016, as a borrower and to make certain administrative and related changes prompted by the addition of Questar Gas as a borrower. The Amended and Restated Credit Facilities can be used by Dominion and the co-borrowers to support bank borrowings and the issuance of commercial paper, as well as to support the issuance of letters of credit.

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