This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Dominion Virginia Power Investments Result In Increased Tax Payments To Virginia Localities

RICHMOND, Va., May 30, 2013 /PRNewswire/ -- Dominion Virginia Power paid nearly $142 million in taxes to cities, counties and towns in Virginia in 2012, approximately $10 million more than in 2011.

The taxes are assessed annually on all of the company's real estate, property and power-related assets, including buildings, power stations, transmission and distribution power lines, substations and other facilities.

Surry and Louisa counties, home to two of the company's nuclear power stations, each received the single largest tax payments at about $12.8 million

"Our tax payments have increased over the past several years as we have improved system reliability and met increasing customer demand for electricity by adding new power generation and transmission facilities," said Paul D. Koonce, chief executive officer.  "We have a large economic impact on the state. These tax payments are vital to many Virginia communities."

Tax payments in 2012 were about $10 million higher than in 2011. Payments to Virginia counties in 2012 totaled $105.1 million, cities $35.1 million and towns $1.6 million.

In addition to Surry and Louisa, among the largest payments were made to Fairfax County, $11.3 million; Prince William County, $9.6 million; Chesterfield County, $8.5 million; the city of Chesapeake, $7.2 million; and the city of Richmond, $6 million. Typically, the largest payments are to localities where the company's electricity-generating power stations are sited.

A full list of the 2012 payments by locality is available online: http://www.dom.com/news/2013/xls/va-tax-payments.xlsx

Dominion Virginia Power is a unit of Dominion (NYSE: D), one of the nation's largest producers and transporters of energy. Dominion has a portfolio of approximately 27,000 megawatts of generation. It also operates one of the nation's largest underground natural gas storage systems and serves retail energy customers in 15 states. For more information about Dominion, visit the company's website at www.dom.com.

Save time, energy and postage by enrolling in Dominion's eBill paperless billing program at: https://www.dom.com/find-it-fast/payment-options/paperless-billing.jsp

SOURCE Dominion Virginia Power

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,912.11 -70.48 -0.42%
S&P 500 1,969.95 -8.96 -0.45%
NASDAQ 4,442.6980 -2.2110 -0.05%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs