<PAGE>
PRICING SUPPLEMENT Filing under Rule 424(b)(3)
File No. 333-76155
PROSPECTUS SUPPLEMENT NO. 1
DATED JUNE 16, 1999
TO PROSPECTUS DATED APRIL 30, 1999
VIRGINIA ELECTRIC AND POWER COMPANY
MEDIUM-TERM NOTES, SERIES G - FIXED RATE NOTE
DUE 9 MONTHS OR MORE FROM DATE OF ISSUE
PRESENTING AGENT: GOLDMAN, SACHS & CO.
ACTING AS: AGENT (X) PRINCIPAL ( )
IF ACTING AS PRINCIPAL, NOTES WILL BE RESOLD TO THE PUBLIC AT:
( ) A FIXED PRICE OF 100% OF PRINCIPAL
( ) VARYING PRICES BASED ON MARKET RATES
IF ACTING AS AGENT, NOTES WILL BE SOLD AT 100% OF PRINCIPAL
Principal Amount: ...................................$ 20,000,000
Presenting Agent's Commission: ......................$ 50,000
Net Proceeds to the Company: ........................$ 19,950,000
Interest Rate:....................................... 6.30%
Original Issue Date:................................. 06/21/99
Stated Maturity: .................................... 06/21/01
CUSIP:............................................... 92781FBQ0
Specified Currency (U.S. Dollars unless noted):......
Authorized Denominations (if other than U.S. $1,000
and integral multiples thereof): ..........
Initial Redemption Date: ............................ N/A
Initial Redemption Percentage: ...................... N/A
Annual Redemption Percentage Reduction: ............. N/A
Limitation Date: ....................................
Refunding Rate: .....................................
Interest Payment Dates (if other than May 1
and November 1 of each year):..............
Additional Terms (if any): ..........................
(X) BOOK ENTRY NOTE ( ) CERTIFICATED NOTE
