RICHMOND, Va. -- Dominion (NYSE: D) reported a smooth transition
from normal working conditions as its electrical workers union began a work
stoppage at noon Friday.
"The union leadership, our supervisors and employees are to be commended
for an orderly transition at our offices and power stations. The workers who
left their jobs are valued employees and we want them to return to work soon.
We regret they felt it was necessary to take this action," said Thomas
F. Farrell II, chief executive officer of Dominion Energy.
The International Brotherhood of Electrical Workers Local 50 represents about
3,700 workers at Dominion's facilities in Virginia, northeastern North Carolina
and at Mt. Storm Power Station in West Virginia. The union leadership turned
down the company's latest labor contract proposal that called for a 16.5 percent
compounded wage increase over five years along with other pension and medical
benefits comparable to those of Dominion's other 13,000 employees.
The company and the IBEW Local 50 began negotiating in January to craft a contract
to succeed a three-year agreement that was ratified in 1995 and extended twice,
each time for two years. The work stoppage is the first labor action at Dominion
Virginia Power since 1964.
"We are available to meet with the union and the federal mediator at any
time," Farrell said. "We are always willing to discuss constructive
ideas and proposals for reaching a settlement. We believe our offer is fair,
reasonable and addressed the issues the IBEW said were important."
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 3.8 million franchise natural gas and electric
customers in five states. For more information about Dominion, visit the company's
Web site at http://www.dom.com.
