August 01, 2014 6:01 AM ET

Electric Utilities

Company Overview of Virginia Electric and Power Company

Company Overview

Virginia Electric and Power Company, a regulated public utility, generates, transmits and distributes electricity for sale in Virginia and North Carolina. It operates in two segments, Dominion Virginia Power and Dominion Generation. The Dominion Virginia Power segment is engaged in regulated electric transmission and distribution operations, including customer service. This segment serves approximately 2.5 million customers. The Dominion Generation segment is involved in the generation operations of regulated electric utility; and its related energy supply operations. This segment generates electricity from coal, nuclear, gas, oil, hydro, and renewables with a total generation capacity of 19...

120 Tredegar Street

Richmond, VA 23219

United States

Founded in 1909

6,700 Employees

Phone:

804-819-2000

Key Executives for Virginia Electric and Power Company

Chairman
Age: 59
President and Chief Operating Officer
Age: 54
President and Chief Operating Officer
Age: 59
President and Chief Nuclear Officer
Age: 56
President and Director
Age: 46
Compensation as of Fiscal Year 2014.

Virginia Electric and Power Company Key Developments

Dominion Virginia Power Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Dominion Virginia Power reported unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported operating earnings of $116 million, or $0.20 per share against operating earnings of $112 million, or $0.20 per share a year ago. For the six months, the company reported operating earnings of $247 million, or $0.42 per share against operating earnings of $228 million, or $0.39 per share a year ago.

Dominion Resources, Inc., Virginia Electric and Power Company and Dominion Gas Holdings, LLC Enter into Five-Year Amended and Restated Revolving Credit Agreement

On May 30, 2014, Dominion Resources, Inc. and its wholly-owned subsidiaries, Virginia Electric and Power Company and Dominion Gas Holdings, LLC entered into a $500,000,000 five-year amended and restated revolving credit agreement with Keybank National Association, as administrative agent, U.S. Bank National Association, as syndication agent, and other lenders named therein. Keybank National Association and U.S. Bank National Association served as joint lead arrangers and joint book runners. This credit facility amends and restates, in its entirety, the $500,000,000 three-year revolving credit agreement dated as of September 24, 2010, as amended by first amendment dated as of October 1, 2011, previously entered into by Dominion and Virginia Power. The amendments add Dominion Gas as a potential borrower, extend the maturity date and amend the definition of 'Applicable Percentage'.

Dominion Resources, Inc., Virginia Electric and Power Company and Dominion Gas Holdings, LLC Enter into $4,000,000,000 Five-Year Amended and Restated Revolving Credit Agreement

On May 19, 2014, Dominion Resources Inc. (Dominion) and its wholly-owned subsidiaries, Virginia Electric and Power Company (Virginia Power) and Dominion Gas Holdings, LLC (Dominion Gas), entered into a $4,000,000,000 Five-Year Amended and Restated Revolving Credit Agreement with JPMorgan Chase Bank, N.A., as Administrative Agent, The Royal Bank of Scotland plc, Bank of America, N.A., Barclays Bank PLC and Wells Fargo Bank, N.A., as Syndication Agents, and other lenders named therein. J.P. Morgan Securities Inc., RBS Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Bank PLC, and Wells Fargo Securities, LLC served as Joint Lead Arrangers and Joint Bookrunners. This credit facility amends and restates, in its entirety, the $3,000,000,000 Three-Year Revolving Credit Agreement dated as of September 24, 2010, as amended by First Amendment dated as of October 1, 2011, previously entered into by Dominion and Virginia Power. The amendments add Dominion Gas as a potential borrower, increase the amount available for borrowing under the credit facility, extend the maturity date and amend the definition of Applicable Percentage.

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