nyse d s & p 500 component dow jones utility average component industry electric utility founded virginia u.s. 1983 headquarters richmond virginia u.s. key people thomas farrell chairman ceo mark mcgettrick cfo products electricity natural gas revenue us 13 120.0 million 2013 1 us 12 835.0 million 2012 1 operating income us 3 316.0 million 2013 1 us 2 858.0 million 2012 1 net income us 1 697.0 million 2013 1 us 302.0 million 2012 1 total assets us 50 096.0 million 2013 2 us 46 838.0 million 2012 1 total equity us 11 642.0 million 2013 1 us 10 625.0 million 2012 1 number of employees 15 500 2012 website www.dom.com footnotes references 3 4 5 dominion resources inc. commonly referred to as dominion is a power and energy company headquartered in richmond virginia that supplies electricity in parts of virginia and north carolina and supplies natural gas to parts of west virginia ohio pennsylvania and eastern north carolina . dominion also has generation facilities in wisconsin indiana illinois connecticut rhode island and massachusetts . citation needed contents 1 overview 1.1 generation mix 2 history 3 operations 3.1 dominion generation 3.2 dominion virginia and north carolina power 3.3 dominion energy 3.4 dominion exploration and production 4 expansion plans 5 contributions 5.1 political 5.2 charitable 6 controversies 6.1 high voltage lines 6.2 wise county power plant 6.3 cove point lng import facility 6.4 environmental record 7 references 8 external links overview edit the company s asset portfolio includes 27 000 megawatts of power generation 6 000 miles 9 700 km of electric transmission lines 14 000 miles 23 000 km of natural gas transmission gathering and storage pipeline and 1.2 trillion cubic feet 34 km3 equivalent of natural gas and oil reserves . dominion also operates the nation s largest natural gas storage facility 6 amounting to more than 975 billion cubic feet 2.76 1010 m3 of storage capacity . 5 the company s cove point liquefied natural gas lng import terminal on the chesapeake bay is one of the nation s largest and busiest facilities of its kind . dominion serves more than 5 million retail energy customers in the midwest mid atlantic and northeast regions of the u.s. in 2009 dominion was listed at 157 on the fortune 500 . 7 a book about the company s 100 year history dominion s first century a legacy of service was published in 2010 . 8 generation mix edit 46 percent of dominion s total electric production comes from coal 41 percent comes from nuclear power 9 percent comes from natural gas 1 percent comes from oil and the remaining 3 percent comes from hydro and other renewables . a strategy is being developed for renewable energy sources primarily wind and biomass and conservation and efficiency programs to play an increasingly important role in meeting future energy needs and minimizing the company s environmental footprint . 9 according to a 2008 op ed by dominion senior vice president james k. martin the company plans to invest 3.5 billion toward the goal of reducing air emissions at existing stations by more than 80 percent by 2015 . 10 history edit dominion s corporate roots reach back to the colonial era through predecessor companies that operated canal and river barging street lighting railways and electric trolleys . in 1795 some dams were built along the appomattox river for industrial use beginning dominion s history . 11 in 1909 dominion began operating as an investor owned electric utility under the name virginia railway & power company founded by frank jay gould according to its website . in 1925 the name was changed to the virginia electric and power company vepco and dominion was operated as a regulated monopoly . in 1940 dominion doubled its service territory by merging with the virginia public service company . in 1980 dominion resources inc. was incorporated as the holding company for vepco . 11 in the 1980s vepco was divided into three operating divisions virginia power north carolina power and west virginia power . in 1986 dominion gained territory by entering northern virginia after purchasing the virginia distribution territory of potomac electric power company pepco . in 1987 the west virginia power division was later sold to utilicorp united but dominion retained ownership of the mount storm power station in west virginia . in 1999 west virginia power would be sold to allegheny energy and folded into its monongahela power subsidiary ; 12 it and other allegheny energy subsidiaries have since been acquired in 2010 by firstenergy . 13 throughout the 1980s and 1990s dominion initiated a series of expansions into regulated and non regulated energy businesses both domestically and internationally . during that era the company also established itself as a world class operator of nuclear power stations . 14 in 2000 dominion bought consolidated natural gas company of pittsburgh pittsburgh and added natural gas service to its energy delivery network in the energy intensive markets in the northeastern quadrant of the u.s. in 2001 dominion bought louis dreyfus natural gas company adding to its natural gas delivery network . 11 dominion re branded all of its operations in 2000 to dominion from virginia and north carolina power as well as consolidated gas in order to create a more unified energy company . in 2007 as part of another effort to refocus on core electric and gas operations dominion sold most of its houston based natural gas and oil exploration and production business for pre tax proceeds of nearly 14 billion . its onshore us oil and gas reserves were sold in separate deals to loews corporation and to xto energy while its gulf of mexico reserves were sold to eni and its canadian reserves were sold to two canadian trusts . dominion still retains some production areas in appalachia however . 11 15 operations edit dominion s chesterfield power station dominion has three operating businesses 16 dominion generation edit dominion generates electricity for both regulated sale in its virginia and north carolina markets and also for wholesale in other markets in the northeast and midwest united states . electricity generation is the largest unit of dominion . 17 dominion virginia and north carolina power edit dominion is a regulated electric utility that transmits and distributes electricity from its power plants in virginia north carolina connecticut and west virginia to customers . dominion energy edit natural gas distribution natural gas transmission and storage producer services solar funding tredegar solar fund i llc dominion exploration and production edit dominion exploration and production was the natural gas and oil exploration and production subsidiary of dominion and by 2007 was one of the largest independent natural gas and oil operators . during 2007 dominion sold the majority of its oil and natural gas exploration and production assets to put additional focus on growing its electric generation and energy distribution transmission storage and retail businesses mainly in virginia west virginia and north carolina . 18 expansion plans edit to ensure reliable and adequate supplies of energy to meet growing customer demand dominion has embarked on a 12 billion infrastructure investment program the largest in company history . from 2008 2010 dominion s capital spending plans include citation needed natural gas pipeline and storage projects including expansion of the cove point lng facility in southern maryland ; customer service and gas distribution investments ; oil and gas exploration and production investments ; electric distribution and transmission upgrades and construction ; renewable and baseload power generation construction and efficiency and environmental enhancements at existing facilities ; and conservation and energy efficiency program expansions . contributions edit political edit the dominion political action committee pac has been very active in donating to virginia candidates . in 2009 the dominion pac donated a total of 814 885 with 56 % going to republicans and 41 % to democrats . in 2008 the pac donated 539 038 with 50 % going to republicans and 47 % to democrats . 19 charitable edit dominion s social investment program is carried out primarily through the dominion foundation which gives about 20 million each year to charities in the states in which dominion does business . 20 controversies edit this section may require cleanup to meet wikipedia s quality standards . no cleanup reason has been specified . please help improve this section if you can . march 2010 learn how and when to remove this template message high voltage lines edit a number of controversies have surrounded the company s decisions to develop new routes for its electric power transmission lines . on february 13 2007 the washington post reported that the power company was planning to change the route of one 500 kv transmission line to appease critics in northern virginia from a route that would cut through protected forest and farmland to a southern route that would bypass nature preserves and civil war sites by running adjacent to existing power lines . however u.s. congressional representative frank wolf r va and governor tim kaine d remained opposed to the line saying that there was no real need and that dominion was trying to bring cheap electricity from the midwest . dominion contested saying that the line would bring needed electricity to growing northern virginia . the proposal was accepted by the state corporation commission scc on october 7 2008 . 21 22 on february 15 2008 the scc approved a controversial proposal for a 230 kv dominion virginia transmission line that would travel above ground for 1.8 miles 2.9 km along a wooded portion of the washington & old dominion railroad trail between leesburg and clarks gap in loudoun county which dominion again claimed was necessary for power reliability . 23 24 25 less than three weeks later on march 4 and march 5 2008 the senate and the house of delegates of the virginia general assembly unanimously passed emergency legislation that ordered the scc to approve the underground construction of the line along that section of the trail as part of a four part statewide pilot program for the development of underground transmission lines . sponsored by delegate joe t. may r loudoun the legislation exempted the project from any requirements for further scc analyses relating to the impacts of the route including environmental impacts and impacts upon historical resources . the legislation went into effect when virginia governor tim kaine approved it on april 2 2008 . 23 26 wise county power plant edit the company began constructing a 605 mwe coal fired power station in wise county virginia in june 2008 . as of december 2009 update the construction had reached the halfway point with the plant scheduled to be fully operational in mid 2012 . 27 28 dominion calls the plant the virginia city hybrid energy center which has been criticized by environmentalists as a way to make the plant sound environmentally friendly . 29 the plant does however have the most stringent air permit for any coal fired power plant in the nation currently . the plant will burn up to 20 % biomass along with coal and a small amount of waste coal known as gob . 28 the plant s carbon dioxide emissions are currently projected to be 5.4 million tons per year . 30 high levels of mercury emitted from the plant which is controlled by activated carbon injection to reduce the emissions as well as a fly ash dump near the clinch river a source of drinking water are also of concern . the plant would also continue to support mountaintop removal coal mining . supporters including governor tim kaine stated that as one of the largest importers of electricity virginia could become less dependent on importing electricity from other states with a new power plant . 29 the plant brought 1000 workers to build and will employ 130 full time as well as pay 4 to 7 million dollars of tax revenue yearly to economically