RICHMOND, Va. - Dominion
(NYSE: D) is committed to negotiating a labor contract with the International
Brotherhood of Electrical Workers Local 50, which Tuesday notified the company
that it may terminate the agreement with the company as early as Friday.
Dominion and the union have been negotiating since late January
with each side agreeing to give the other a 72-hour notice prior to terminating
the contract. As long as negotiations are in progress, the present contract
for 3,700 bargaining unit employees at Dominion Virginia Power and Dominion
Energy remains in effect. Such a notice does not necessarily mean there will
be a strike.
"Negotiations have been positive with the vast majority
of issues resolved. We have made significant efforts to resolve the handful
of issues that remain. While we do not want a strike, we are ready to keep delivering
electricity if one occurs," said Edgar M. Roach Jr., president and chief
executive officer of Dominion Virginia Power.
Union workers for Dominion Virginia Power and Dominion Energy
include linemen, meter readers, power station operators, mechanics and electricians.
The contract was ratified in 1995 for three years and extended twice, each time
for two years. The IBEW Local 50 membership rejected a proposed contract in
late June. Negotiations resumed June 25. A federal mediator joined the negotiations
July 9.
Dominion is one of the nation's largest producers of
energy, with a production capability of more than 3 trillion British thermal
unit of energy per day. Dominion also serves 3.9 million franchise natural gas
and electric customers in five states. For more information about Dominion,
visit the company's Web site at www.dom.com.
