Dominion Resources, Consolidated Natural Gas
Announce $200 Million Energy Investment in Muskingum County
MUSKINGUM COUNTY, Oh. – Dominion Resources Inc. and Consolidated
Natural Gas Company announced today that subsidiaries of the two companies are
evaluating several sites in Muskingum County, Ohio, to construct and operate
a natural gas-fired electric generating facility. Final site selection is expected
by July.
Upon final site selection, the companies expect to begin
engineering and permitting activities immediately. They expect to bring a 600-megawatt
facility into commercial operation by June 2002 in order to meet summertime
peak demand for electricity. The facility could represent an investment of approximately
$200 million in Muskingum County.
In a joint statement, E. Wayne Harrell, senior vice president
of Dominion Generation, Dominion Resources’ generating subsidiary, and Thomas
E. Dodd, vice president of CNG, said:
"Muskingum County would provide an excellent location
for this facility, and we have the financial and technical resources to bring
into operation a generating asset of genuine value to the region. By constructing
this facility here, we’ll address the developing need for additional electric
peaking power and additional electric competition in the region. This will help
Muskingum County and Ohio to advance their economic development agendas.
"We intend to accomplish this as a good new corporate neighbor
sensitive to and compliant with federal, state and local environmental needs
and regulations, and we’ll be working with local officials to finalize project
details. Both Dominion Resources and CNG have strong histories of environmental
stewardship and community involvement, and we will welcome all opportunities
to consult closely with the community as we bring this exciting new development
into reality. In keeping with the policies of both companies, we’ll keep the
community closely apprised and involved as we move forward."
Permitting will occur at the local, state and federal levels.
Construction is expected to begin in 2001 and be completed in mid-2002. When
completed, the new facility will employ four to six workers during operations.
State Sen. James Carnes (Muskingum County) said:
"I am glad to see that CNG and Dominion Resources are looking
to bring a project to Muskingum County that will serve the economic interests
of the community. Muskingum County is a great place for a business to locate
as shown by the willingness of the community to work together to make a new
company feel welcome. I also welcome this opportunity and look forward to working
with CNG and Dominion Resources."
Dominion Resources and Consolidated Natural Gas Company,
which are merging, are considering the Muskingum County site as part of a broader
exclusive alliance agreement to develop gas-fired facilities near existing CNG
pipelines at appropriate sites. It is part of their business strategy to focus
their energy development resources in the Midwest-to-Northeast quadrant of the
United States, home to 40 percent of the nation’s demand for energy.
The companies also announced plans to move ahead with similar
facilities in Pennsylvania and West Virginia.
Dominion Resources, headquartered in Richmond, Va., is an
$18 billion holding company principally engaged in regulated and competitive
electric power and natural gas, domestically and internationally. Consolidated
Natural Gas is one of the nation’s largest producers, transporters, distributors
and retail marketers of natural gas.
