Dominion Resources, Consolidated Natural Gas
Announce $200 Million Energy Investment in Wood County
WOOD COUNTY, Oh. – Dominion Resources Inc. and Consolidated
Natural Gas Company announced today that subsidiaries of the two companies expect
to jointly construct and operate a natural gas-fired electric generating facility
at the Lemoyne Industrial Park in Wood County, about two miles northeast of
Luckey, Ohio.
The companies expect to work with state and local officials
to finalize the analysis of the site and then to begin engineering and permitting
activities. They expect to bring the 600-megawatt facility into commercial operation
by mid-2002, in order to meet summertime peak demand for electricity. The facility
could represent an investment of approximately $200 million in Wood 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:
"We are fortunate to have an excellent site and the needed
financial and technical resources to bring into operation a generating asset
of genuine regional value. 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 Wood 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. 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."
The new facility will be sited on about 50 acres adjacent
to state Route 20/23 on the north border at Pemberville Road and state Route
420 on land presently owned by Consolidated Natural Gas.
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.
The project will use four General Electric gas-fired generating
turbines. These machines have a unique combination of efficiency and environmental
performance. Environmental impact of the facility is expected to be minimal.
Tom Blaha, economic development director for Wood County,
said:
"We are delighted with today’s news that two of the nation’s
most reputable firms and corporate neighbors are moving to Wood County. Not
only will they bring supplemental supplies of competitively priced electric
power to the grid during periods of peak demand, they will also provide significant
economic benefits to our local economy.
"We look forward to working with both companies as they develop
this project and become corporate citizens of Wood County. CNG and Dominion
Resources have a strong sense of community and environmental responsibility,
and we will work with them to ensure that they are able to complete their investment
in a timely and efficient manner while they meet their regulatory and community
obligations."
Dominion Resources and Consolidated Natural Gas, which are
merging, are developing the Wood 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 for 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.
