July 29, 2005

RICHMOND, Va. – Dominion (NYSE: D), one of the nation's largest energy companies, applauds passage of the federal Energy Policy Act of 2005 and the benefits it will bring to the nation's energy infrastructure, consumers and the environment.

"The bill, while not perfect, is a vital first step in developing a comprehensive policy for ensuring energy reliability and security," said Thos. E. Capps, chairman and chief executive officer. "It encourages much-needed investment in our nation's energy production and delivery infrastructure and promotes the use of a diverse mix of fuels and renewable technologies to generate electricity."

Important points of the legislation include:

• Mandatory, enforceable standards for maintenance and operation of the nation’s electric transmission networks and new federal authority to ensure that critically needed lines are built.
  
   
• Provisions designed to ensure a diverse fuel supply for the production of electricity and federal support and tax incentives for clean coal, nuclear and renewable power generation technologies.
  
   
• Opportunities for increasing natural gas supplies and possibly reducing prices by encouraging domestic production, boosting imports of liquefied natural gas and improving the permitting process for drilling.
  
   
• Energy conservation provisions, including stricter energy efficiency standards for many products. The bill offers tax credits for investments in energy-efficient buildings and equipment, low-emission vehicles, and technology utilizing renewable resources.

The legislation also takes important steps to modernize the laws and regulations governing the nation’s electric utility industry while maintaining high levels of consumer protection.

Dominion is one of the nation's largest producers of energy, with an energy portfolio of about 28,100 megawatts of generation. Dominion also serves retail energy customers in nine states. For more information about Dominion, visit the company's Web site at www.dom.com.

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