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Half Of Dominion's Electric Output In 2013 Generated From Carbon-free Sources, New Report Says

Stocks in this article: D

RICHMOND, Va., July 30, 2014 /PRNewswire/ -- In an online report released today, Dominion (NYSE: D) says that 50 percent of the electricity it produced from its fleet of power stations in 2013 came from carbon-free nuclear and renewable energy. In addition, the company's generation fleet saw a 24 percent reduction in carbon intensity – the carbon emissions rate per unit of electric output – from 2009 to 2013.

These are highlighted in Dominion's seventh annual C itizenship & Sustainability Report ( CSR), which focuses on the company's 2013 social, economic and environmental performance and progress.

The comprehensive report is available online at www.dominioncsr.com.

Other 2013 performance highlights featured in the report include:

  • A 33 percent increase in customer participation in Dominion Virginia Power's Green Power program;
  • The addition of more than 200 megawatts of renewable energy capacity – enough to power 50,000 homes;
  • $393 million spent with diverse suppliers, exceeding the company's goal by about 4 percent;
  • $15 million in charitable gifts from the Dominion Foundation to more than 1,000 nonprofit organizations; and
  • A $500,000 environmental grant program to help preserve wetlands, plant trees, protect natural habitats, and monitor water quality, among other things.

Thomas F. Farrell II, chairman, president and chief executive officer, said:

"Dominion has made continued progress in executing our business plan, giving back to the communities we serve and minimizing the environmental impact of our operations. This report showcases our accomplishments, challenges and future opportunities to create value for all of our stakeholders."

Reporting and disclosure have been expanded in this edition of the CSR in the areas of cyber security and emergency preparedness, and the company's support of education through its charitable foundation.

In 2014, Dominion was ranked No. 71 on the "100 Best Corporate Citizens" list published annually by Corporate Responsibility magazine. The companies on the list are selected from the Russell 1000 and are scored in seven categories: environment, climate change, human rights, employee relations, corporate governance, philanthropy and financial performance.

Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 23,600 megawatts of generation, 10,900 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 utility and retail energy customers in 10 states. For more information about Dominion, visit www.dom.com.

SOURCE Dominion

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

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