Dominion Completes Merger Of CNG Subsidiary
Into Holding Company
RICHMOND, Va. – Dominion (NYSE:D) announced
today that it has completed the merger of its wholly owned subsidiary, Consolidated
Natural Gas Company, into the parent holding company, Dominion Resources,
Inc., as part of a move to streamline its corporate structure.
The merger was effective at 12:01 a.m.
on Saturday, June 30. As a result
of the merger, Dominion has assumed all obligations related to CNG indebtedness
as well as any other financial obligations such as guarantees. First-tier
CNG subsidiaries have become first-tier Dominion subsidiaries instead of second-tier
subsidiaries.
Dominion is one of the nation's largest producers of energy, with
a portfolio of more than 26,500 megawatts of generation and 7,800 miles of
natural gas transmission pipeline. Dominion also owns and operates the nation's
largest underground natural gas storage system with about 960 billion cubic
feet of storage capacity and serves retail energy customers in 11 states. For
more information about Dominion, visit the company's Web site at http://www.dom.com.
