RICHMOND, Va., April 1 /PRNewswire-FirstCall/ -- Dominion announced today the three groups constituting its newly formed Alternative Energy Solutions unit.
The unit will be composed of three groups: financial analysis, policy and business evaluation, and research and program development. The latter will house a renewable energy group and conservation and load management (CLM) group.
Earlier this year Dominion announced formation of the Alternative Energy Solutions unit, effective today. The unit will provide technology research to support Dominion business units, identify business opportunities, participate in the nation's energy policy development process, and provide an information- and idea-sharing forum within the company on conservation and load management and renewables.
Thomas F. Farrell II, chairman, president and chief executive officer, said:
"We expect this new group to be at the forefront of Dominion's efforts to assess the commercial and financial viability of a growing number of emerging new energy technologies. For long-term success, Dominion intends to be positioned at the cutting edge of any new technologies. We plan to harness the full potential of alternative energy as it matures to commercial viability and gains prominence in the operating, political, regulatory and policy arenas."
Leading the group is Mary C. Doswell, senior vice president-Alternative Energy Solutions. She will report directly to Farrell.
The Alternative Energy Solutions unit will research new technologies including, but not limited to, "smart grid" technologies, distributed generation, hybrid vehicles, and electric storage technology. The unit will also study new technologies related to renewable energy sources such as solar, wind, tidal, biomass and geothermal.
Farrell said that new technologies deemed to hold commercial promise will be referred by the Alternative Energy Solutions unit to the appropriate Dominion operating companies for operating assessment and implementation.
Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of more than 27,000 megawatts of generation, 1.2 trillion cubic feet equivalent of proved natural gas and oil reserves, 14,000 miles of natural gas transmission, gathering and storage pipeline and 6,000 miles of electric transmission lines. Dominion operates the nation's largest natural gas storage facility with 975 billion cubic feet of storage capacity and serves retail energy customers in 12 states. For more information about Dominion, visit the company's Web site at http://www.dom.com.
Web site: http://www.dom.com/