March 12, 2002

WATERFORD, Conn. – Dominion (NYSE: D) announced Tuesday that it intends to file an application with the U.S. Nuclear Regulatory Commission to renew the licenses for its two operating nuclear units at Millstone Power Station for an additional 20 years.

Dominion anticipates filing the application in 2004. If granted by the NRC, the license for Unit 2, an 870-megawatt pressurized water reactor, would be extended to 2035, and the license for Unit 3, an 1,150-megawatt reactor, to 2045. Unit 1, a 660-megawatt reactor, is being decommissioned.

"We want to continue generating electricity for New England well into the future," said Thos. E. Capps, chairman, president, and chief executive officer. "We are proud of the employees at Millstone and the work they do every day to run the units safely and reliably. Millstone has a long, safe, useful life ahead of it."

Millstone's two units recently set a station record of 283 days of continuous operation, which ended when Unit 2 entered a scheduled refueling outage.

Dominion has been evaluating license renewal at Millstone since it acquired the station in April 2001. The NRC already is reviewing license renewal applications for the company's two Virginia stations, North Anna and Surry.

Dominion, headquartered in Richmond, Va., is one of the nation's largest producers of energy, with a production capability more than 3 trillion British thermal unit of energy per day. Its 22,000-megawatt generation portfolio is expected to grow to more than 26,000 megawatts by 2005. For more information about Dominion, visit the company's Web site at www.dom.com.
 

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