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PRICING SUPPLEMENT Filing under Rule 424(b)(5)
File No. 33-60271
PROSPECTUS SUPPLEMENT NO. 7
DATED MARCH 17, 2000
TO PROSPECTUS DATED JUNE 30, 1995
VIRGINIA ELECTRIC AND POWER COMPANY
MEDIUM-TERM NOTES, SERIES F - VARIABLE RATE NOTE
DUE 9 MONTHS TO 30 YEARS FROM DATE OF ISSUE
PRESENTING AGENT: MORGAN STANLEY & CO. INCORPORATED
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ACTING AS: AGENT ( ) PRINCIPAL (X)
IF ACTING AS AGENT, NOTES WILL BE SOLD AT ____% OF PRINCIPAL
IF ACTING AS PRINCIPAL, NOTES WILL BE RESOLD TO THE PUBLIC AT:
(X) A FIXED PRICE OF 100% OF PRINCIPAL
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( ) VARYING PRICES BASED ON MARKET RATES
<TABLE>
<CAPTION>
<S> <C>
Principal Amount.............................. $20,000,000
Presenting Agent's Commission................. $ 50,000
Net Proceeds to the Company................... $19,950,000
Base Interest Rate/Index Maturity............. 3-Month LIBOR
Spread or Spread Multiplier................... Plus 15 basis points
Initial Interest Rate (including spread)...... 6.37875%
Interest Reset Dates and Interest Payment
Dates........................................ Each March 22, June 22, September 22 and
December 22, beginning June 22, 2000
Interest Determination Dates.................. Second London Business Day preceding
each Interest Reset Date
Original Issue Date........................... March 22, 2000
Stated Maturity............................... March 22, 2002
CUSIP......................................... 92781FBR8
Calculation Agent............................. The Chase Manhattan Bank
Specified Currency (U.S. Dollars unless noted)
Authorized Denominations (if other than U.S
$1000 and integer multiples thereof)......
Initial Redemption Date .................... n/a
Initial Redemption Percentage ............... n/a
Annual Redemption Percentage Reduction ...... n/a
Limitation Date ............................. n/a
Refunding Rate .............................. n/a
Additional Terms (if any) ................... n/a
</TABLE>
(X) BOOK ENTRY NOTE ( ) CERTIFICATED NOTE
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EXPERTS
The financial statements included in the Company's 1999Annual Report on
Form 10-K have been audited by Deloitte & Touche LLP, independent auditors, as
stated in their report in such Form 10-K. Such financial statements have been so
incorporated in reliance upon the report of Deloitte & Touche LLP, also
incorporated herein by reference, which report is given upon their authority as
experts in accounting and auditing.
Legal conclusions relating to the Company's franchises and title to its
properties in the Company's Annual Report on Form 10-K and legal conclusions
under DESCRIPTION OF THE NOTES in the Prospectus, including limitations upon the
Company's issuance of bonds, have been reviewed by McGuire Woods Battle & Boothe
LLP, Richmond, Virginia except that insofar as matters relating to title to
properties are governed by the laws of West Virginia, they have been reviewed by
Jackson & Kelly, Charleston, West Virginia. The statements are included on the
authority of such firms, respectively, as experts.
LEGAL OPINIONS
Certain legal matters in connection with the Notes will be passed on for
the Company by McGuire Woods Battle & Boothe LLP, Richmond, Virginia, and for
any underwriters, dealers or agents by Mays & Valentine, L.L.P., Richmond, which
also performs certain legal services for the Company on other matters.
