- Plans to provide electric utility customers in Virginia a 100 percent renewable option
RICHMOND, Va., May 10, 2017 /PRNewswire/ -- Dominion (NYSE: D) continues to be a leader among electric and natural gas companies in improving its environmental performance, Thomas F. Farrell, II, chairman, president and chief executive officer, plans to tell the company's shareholders this morning.
The company has made substantial reductions in air emissions in recent years and has a plan to substantially increase the amount of electricity generated with solar power.
Said Farrell, "Dominion is proud of our environmental performance, as the record shows. Our 16,200 employees work hard every day to balance the needs of our customers for reliable energy produced as efficiently and cleanly as possible."
Among the facts Farrell plans to highlight:
- The emissions rate for carbon dioxide in the company's electric generating facilities – pounds of the pollutant emitted per unit of energy produced – has fallen 43 percent since 2000. In tons, carbon emissions are now 43 percent lower than in 2005 – the base year for the Clean Power Plan.
- The emissions rate for sulfur dioxide has dropped 95 percent since 2000. Emissions in terms of tons equated to a 94 percent decline.
- The emissions rate for nitrogen oxides fell 81 percent from 2000, with actual reduction in tons by 78 percent.
- The emissions rate for mercury was 96 percent below that of 2000. In pounds emitted, it was a 95 percent drop.
- In its natural gas facilities, 4.4 billion cubic feet of methane has been "saved" from the company's use of best management practices such as leak-reduction programs, equipment and pipeline replacements, and routine maintenance. These methane reductions have been reported to the U.S. EPA through the Natural Gas STAR program.
- The company has rooftop and ground-mount solar facilities in operation or under development in 20 Virginia counties and cities.
Dominion is investing heavily in solar – about $2.6 billion spent since 2013 – with ownership of nearly 1,200 megawatts in nine states in operation or under development. In Virginia and North Carolina, Dominion plans to have more than 700 megawatts of company-owned and -operated solar capacity online by the end of 2018, not including more than 500 megawatts contracted from other developers for use by the company's electric utility customers in the two states. At least 5,200 megawatts of solar capacity could be added in the two-state area over the next 25 years to meet customer demand.
Farrell also will discuss yesterday's Dominion Virginia Power filing with the State Corporation Commission of Virginia. The program would provide a rate structure for qualifying large customers wishing to use electricity generated from renewable electricity 100 percent of the time. The utility would manage a portfolio of assets that are new to the company – some company-owned, some contracted – and match each kilowatt each hour with participating customers' usage. Renewable energy credits, or RECs, would not be utilized. The utility also plans to file a similar rate tariff available to all customers in the near future.
Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 26,200 megawatts of generation, 15,000 miles of natural gas transmission, gathering and storage pipeline, and 6,600 miles of electric transmission lines. Dominion operates one of the nation's largest natural gas storage systems with 1 trillion cubic feet of storage capacity and serves more than 6 million utility and retail energy customers. For more information, visit www.dom.com.
For further information: Ryan Frazier, (804) 819-2521 or C.Ryan.Frazier@dom.com; David Botkins, (804) 771-6115 or David.B.Botkins@dom.com; Financial analysts: Kristy Babcock, (804) 819-2492 or Kristy.R.Babcock@dom.com