Last $70.21 USD
Change Today +0.27 / 0.39%
Volume 1.3M
As of 6:40 PM 07/23/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

120 Tredegar Street

Richmond, VA 23219

United States

Phone: 804-819-2000

Fax:

ents to hedge this price risk. The gas transmission pipeline and storage business serves gas distribution businesses and other customers in the northeast, mid-Atlantic and midwest. Included in Dominion Energy’s gas transmission pipeline and storage business is its gas gathering and extraction activity, which sells extracted products at market rates. Dominion Energy’s LNG operations involve the import and storage of LNG at Cove Point and the transportation of regasified LNG to the interstate pipeline grid and mid-Atlantic and Northeast markets. The Blue Racer joint venture concentrates on building new gathering, processing, fractionation and NGL transportation assets as the development of the Utica Shale formation increases. In 2013, the company announced the formation of Dominion Gas, a first tier wholly-owned subsidiary holding company for the majority of its regulated natural gas businesses. Properties: Dominion Energy’s gas distribution network is located in the states of Ohio and West Virginia. This network involves approximately 21,900 miles of pipe, exclusive of service lines. The rights-of-way grants for many natural gas pipelines have been obtained from the actual owners of real estate, as underlying titles have been examined. The company has approximately 10,900 miles of gas transmission, gathering and storage pipelines located in the states of Maryland, New York, Ohio, Pennsylvania, Virginia and West Virginia. The company owns gas processing and fractionation facilities in West Virginia with a total processing capacity of 280,000 mcf per day and fractionation capacity of 580,000 gallons per day. Dominion Energy also operates 20 underground gas storage fields located in New York, Ohio, Pennsylvania and West Virginia, with approximately 2,000 storage wells and approximately 349,000 acres of operated leaseholds. The total designed capacity of the underground storage fields operated by Dominion Energy is approximately 947 bcf. Certain storage fields are jointly-owned and operated by Dominion Energy. The capacity of those fields owned by Dominion’s partners totals about 242 bcf. Dominion Energy also has approximately 15 bcf of above-ground storage capacity at Cove Point. Dominion Energy has 140 compressor stations with approximately 830,000 installed compressor horsepower. Seasonality Dominion Energy’s natural gas distribution business earnings vary seasonally, as a result of the impact of changes in temperature on demand by residential and commercial customers for gas to meet heating needs. The majority of these earnings have been generated during the heating season, which is generally from November to March; however implementation of the straight-fixed-variable rate design at East Ohio has reduced the earnings impact of weather-related fluctuations. Demand for services at Dominion’s pipeline and storage business can also be weather sensitive. Strategy The integrated strategy to meet the company’s objective consists of four major elements: compliance with applicable environmental laws, regulations and rules; conservation and load management; renewable generation development; and improvements in other energy infrastructure. Customers The company serves approximately 6 million utility and retail energy customers in 15 states and operates an underground natural gas storage system, with approximately 947 bcf of storage capacity. In 2013, the company announced the formation of Dominion Gas, a first tier wholly-owned subsidiary holding company for the majority of its regulated natural gas businesses. Regulation The company and Virginia Power are subject to regulation by the Virginia Commission, North Carolina Commission, Securities and Exchange Commission, Federal Energy Regulatory Commission, Environmental Protection Agency, Department of Energy, Nuclear Regulatory Commission, Army Corps of Engineers, and other federal, state, and local authorities. Significant Events In May 2014, Memorial Sloan Kettering Cancer Center and Quest Diagnostics announced a joint collaboration that would utilize MSK's clinical and research insights into gene mutations associated with solid tumor

 

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