Dominion News Releases

November 22, 2000

Dominion Purchases Gas-Fired Generation Site Under Development in Pennsylvania

RICHMOND, Va. -- Dominion (NYSE: D), one of the nation’s largest producers of energy, announced today that it has acquired a natural gas-fired power generation site being developed in a Pennsylvania industrial park.

When complete, the Fairless Works Energy Center will include a combined-cycle merchant power facility selling competitive energy to multiple buyers in newly opened wholesale markets. It will occupy a 45-acre site within the USX Industrial Park, a 2,000-acre tract being developed by USX Realty Development, about a mile south of Morrisville, Pa., in the township of Falls and across the Delaware River from Trenton, N.J.

Dominion expects to complete permitting and begin construction by the third quarter of 2001. The first 550 megawatts is expected to begin commercial operation in the fourth quarter of 2003. The second 550 megawatts is expected to begin commercial operation in the second quarter of 2004.

Dominion acquired the rights to continue development of the facility from SWEC, LLC., based in Morrisville. Terms were not disclosed.

Thos. E. Capps, chairman, president and chief executive officer of Dominion, said:

“This is a very attractive fit from all points of view. The facility fits local and state energy development objectives and also advances Dominion’s energy supply objectives in the Northeast, Midwest and Mid-Atlantic regions of the U.S., home to 40 percent of the nation’s demand for energy.

“From the region’s perspective, the facility will provide needed new electric generating capacity with highly efficient, clean-burning natural gas technology. It’s environmentally friendly, and is being developed in an industrial park consistent with the region’s ‘brownfield redevelopment’ objectives. Technically, the site is ideal because it features quality support infrastructure, such as gas supply and easily accessible interconnections to the PJM power pool.

“From Dominion’s perspective, this is another firm component of our generation under development that we’re now in a position to outline in detail. Our progress toward becoming a major electric power and natural gas supplier in the region continues as we back up our sales, service and reliability objectives with essential infrastructure.”

Dominion is one of the nation’s largest producers of energy, with a production capability of 2.7 trillion BTUs of energy per day. Dominion has the largest BTU production capability among integrated utilities in the northeast quadrant of the United States. The company has a power generation portfolio of more than 19,000 megawatts, which, including today’s announced plan, is expected to grow to more than 28,000 megawatts by 2005. 

Dominion is also one of the largest independent oil and natural gas exploration and production companies in North America, with 2.8 trillion cubic feet equivalent of reserves. The company has 7,600 miles of interstate natural gas pipeline with more than 650 billion cubic feet of annual natural gas throughput and a delivery capability of 6.3 billion cubic feet per day. In addition, the company operates the nation’s largest underground natural gas storage system, with 960 billion cubic feet of storage capacity. Dominion also serves 3.8 million retail natural gas and electric customers, and owns a telecommunications business which is expanding its fiber-optic network from its current 35,000 miles to more than 700,000 miles.

For more information about Dominion, visit the company’s website at www.dom.com.

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