Dominion News Releases

October 4, 2000

Dominion Announces Millstone Leadership Team

RICHMOND, Va. – Dominion Energy, a subsidiary of Dominion (NYSE: D), announced Wednesday the selection of the leadership team that will operate Millstone Power Station in Waterford, Conn., after it is acquired by Dominion next year. Northeast Nuclear Energy Company, a wholly owned subsidiary of Northeast Utilities (NYSE: NU), currently operates Millstone.

Leon J. Olivier, 51, NU senior vice president and chief nuclear officer-Millstone, will become senior site vice president-Millstone, at close of the transaction.  Olivier will be responsible for all aspects of safe, reliable operation of the Millstone station. He will report to David A. Christian, Dominion senior vice president and chief nuclear officer.
Raymond P. Necci, 48, vice president of Nuclear Technical Services at Millstone, will become vice president-Technical Services at sale closing.  Necci will have responsibility for all engineering, procurement, oversight and regulatory interface for the station.
Eugene Grecheck, 47, site vice president of Dominion’s Surry Power Station in Virginia, will become vice president-Generation. Grecheck will be loaned to Millstone as Operations Officer effective Oct. 9 and will remain in that position until closing.  He will be responsible for plant operations and maintenance, training, nuclear documents and procedures, environmental and health services, radiological protection, fire protection, site services and plant security.

“We are delighted to have this team of top-notch officers in place to lead the safe operation of Millstone as we work toward becoming a premier energy provider in this region of the country,” said Thos. E. Capps, chairman, president and chief executive officer.

Olivier, a native of Massachusetts, received his MBA from Northeastern University in 1994 and received an honorary doctorate degree in Public Service from Bridgewater State College in 1997. Olivier came to Millstone in 1998 with 29 years of experience at Boston Edison, where he was responsible for a wide variety of nuclear and fossil power operations. He was most recently the senior vice president - Nuclear, where he had overall responsibility for the Nuclear Organization, including the successful operation of the Pilgrim Station nuclear facility in Plymouth, Mass.

Necci earned his Bachelor of Engineering degree from the State University of New York Maritime College in 1973 and an MBA from Rensselaer Polytechnic Institute in 1982. Necci joined Northeast Utilities in 1976 and has held a number of key management and leadership positions within the company’s nuclear organization.

Grecheck, a 25-year veteran at Dominion, received a Bachelor of Science degree in Physics and a Master of Science degree in Nuclear Engineering from Rensselaer Polytechnic Institute in 1974 and 1975, respectively; an MBA from Virginia Commonwealth University in 1981; and an MBA Upgrade from Syracuse University in 1996. He completed The Executive Program of the Darden Graduate School of Business Administration at the University of Virginia this summer. Grecheck held a variety of leadership positions in Dominion’s nuclear organization culminating in being elected site vice president-Surry in 1998.

Dominion and Northeast Utilities (NYSE: NU) announced in August that they had reached an agreement under which Dominion will purchase Millstone. Under terms of the agreement, Dominion will pay approximately $1.3 billion in cash for the three-unit station. The transaction is expected to close by April 2001. Regulatory approvals are required by the U.S. Nuclear Regulatory Commission, the Federal Energy Regulatory Commission, the Federal Trade Commission or the Department of Justice, the Connecticut Department of Public Utility Control and other state public utility commissions where additional owners of minority portions of the station are headquartered.

Dominion Energy is a subsidiary of Dominion, the nation's largest fully integrated natural gas and electric power company. Dominion has about 4 million retail gas and electric customers, about 20,000 megawatts of electric power generation today, growing to more than 28,000 megawatts of unregulated power generation through 2005, 2.8 trillion cubic feet of natural gas and oil reserves, and a 7,600-mile natural gas pipeline system with more than 650 billion cubic feet of annual throughput. Dominion also operates North America's largest natural gas storage system, with more than 850 billion cubic feet of storage. For more information on Dominion, visit the company's website on the Internet at www.dom.com.