Dominion Energy Completes Previously Announced Asset Sales

-- All requisite approvals received and transactions officially closed
-- Proceeds will be used to reduce parent-level debt this year

RICHMOND, Va., Dec. 14, 2018 /PRNewswire/ -- Dominion Energy (NYSE: D) today announced that it has completed the previously announced divestiture of the following non-core assets:

  • 50 percent interest in the Blue Racer Midstream joint venture
  • 100 percent interest in the Fairless Power Station
  • 100 percent interest in the Manchester Street Power Station; and
  • 25 percent interest in the Catalyst Old River Hydroelectric Limited Partnership

(PRNewsfoto/Dominion Energy)

About Dominion Energy

Nearly 6 million customers in 18 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable, and safe energy and is one of the nation's largest producers and transporters of energy with nearly $80 billion of assets providing electric generation, transmission and distribution, as well as natural gas storage, transmission, distribution, and import/export services. As one of the nation's leading solar operators, the company intends to reduce its carbon intensity 50 percent by 2030. Through its Dominion Energy Charitable Foundation, as well as EnergyShare and other programs, Dominion Energy plans to contribute more than $30 million in 2018 to community causes throughout its footprint and beyond.

Forward-Looking Statements

This press release contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements relate to, among other things, expectations and projections. Actual results may differ from expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "assume," "estimate," "project," "anticipate," "intend," "plan," "may," "will," "could," "should," "believe," "potential," and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results, and may include, but are not limited to, statements about proposed transactions, Dominion Energy's plans, objectives, expectations and intentions and the timing of future events. All statements relating to events or developments that we expect or anticipate will occur in the future are forward-looking statements, and Dominion Energy's ability to predict results or the actual effect of future events is inherently uncertain. Although Dominion Energy believes that the expectation reflected in any forward-looking statement are based on reasonable assumptions, it can give no assurance that actual outcomes and results will not differ materially from what is expressed in such forward-looking statements. There can be no assurance that the transactions will close.

Forward-looking statements in this release are based on information available as of the date of this release, which such information is subject to change at any time. Dominion Energy undertakes no obligation to update any forward-looking statement to reflect developments after the statement is made.

SOURCE Dominion Energy

For further information: Media - Ryan Frazier, (804) 819-2521, C.Ryan.Frazier@dominionenergy.com, or Financial analysts - Steven Ridge, (804) 929-6865, Steven.D.Ridge@dominionenergy.com