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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Dominion Virginia Power Completes Biomass Conversion At Altavista Power Station

ALTAVISTA, Va., July 15, 2013 /PRNewswire/ -- Dominion Virginia Power placed its Altavista Power Station into commercial operation Friday with renewable biomass as its fuel, the first of three stations to be converted from coal to biomass.

"Today marks another achievement guided by Dominion's philosophy that balanced fuel diversity – from coal to natural gas to nuclear to renewables – leads to reasonable rates that best serve the needs and interests of customers and shareholders," said Dominion Generation CEO David A. Christian.

Dominion announced in April 2011 its plans to spend about $165 million to convert Altavista Power Station and two similar coal-fired stations in Hopewell and Southampton County to use biomass, primarily tree tops and branches that remain unused from timbering operations, as fuel. The conversions of the other two stations are on schedule and they should be in commercial operation before the end of 2013.

Dominion acquired the three power stations in 2001. They had been in operation since 1992 and used primarily to produce steam for nearby manufacturing plants and intermittently to meet the peak demand for electricity. With the biomass conversions, plans are for the three 51-megawatt power stations to operate continuously, providing enough electricity to serve 12,500 households.

The conversions will result in lower emissions of sulfur dioxide, nitrogen oxides, particulate matter and mercury. The addition of the three biomass power stations will help Dominion Virginia Power meet Virginia's voluntary renewable energy goal of 15 percent by 2025. 

Altavista Power Station will employ 31 with a total annual payroll of nearly $3 million. Another 100 forestry and trucking jobs will be needed to supply the roughly 600,000 tons of biomass that the station will use every year. Initial property tax payments to Altavista and Campbell County will total approximately $590,000 annually.

Dominion Virginia Power is a subsidiary of Dominion (NYSE: D), one of the nation's largest producers and transporters of energy, with a portfolio of approximately 27,000 megawatts of generation, 11,000 miles of natural gas transmission, gathering and storage pipeline and 6,400 miles of electric transmission lines.  Dominion operates one of the nation's largest natural gas storage systems with 947 billion cubic feet of storage capacity and serves retail energy customers in 15 states. For more information about Dominion, visit the company's website at www.dom.com.

SOURCE Dominion Virginia Power

Stock quotes in this article: D 
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.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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