UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-3A-2
File No. 69-278
FOR FISCAL YEAR ENDED DECEMBER 31, 1998
Statement by Holding Company Claiming Exemption Under Rule U-3A-2 from
the Provisions of the Public Utility Holding Company Act of 1935
To Be Filed Annually Prior to March 1
DOMINION RESOURCES, INC.
(Name of Company)
hereby files with the Securities and Exchange Commission pursuant to Rule
2, its statement claiming exemption as a holding company from the
provisions of the Public Utility Holding Company Act of 1935, and submits
the following information:
1. Name, State of organization, location and nature of business of
claimant and every subsidiary thereof, other than any exempt wholesale
generator (EWG) or foreign utility company in which claimant directly or
indirectly holds an interest as of December 31, 1998.
State of Location and
Name Organization Nature of Business
Dominion Resources, Inc. Virginia Richmond, Virginia
- Holding Company
Subsidiaries of Dominion Resources, Inc.
Dominion Capital, Inc.(*) Virginia Richmond, Virginia
- Financial
services, land
development
Dominion Energy, Inc.(*) Virginia Richmond, Virginia
- Nonutility power
production and gas
and oil development
Dominion Resources Capital Trust I Delaware Wilmington,
Delaware - Business
Trust
Dominion U.K. Holding, Inc. Virginia Richmond, Virginia
- Holding company
Virginia Electric and Power Company Virginia Virginia and North
Carolina- Electric
utility
Subsidiaries of Dominion U.K. Holding, Inc.
DEI U.K., Inc. Virginia Richmond, Virginia
- Equity holding
<PAGE>
State of Location and
Name Organization Nature of Business
Subsidiaries of Dominion U.K. Holding, Inc. (continued)
Dominion Energy U.K., Inc. Virginia Richmond, Virginia
- Equity holding
Subsidiary of DEI U.K., Inc.
Elgar, LLC Virginia Richmond, Virginia
- Equity holding
Subsidiary of DEI U.K., Inc. and Elgar, LLC
DR Group Holdings United Kingdom United Kingdom-
Financing/Holding
company
Subsidiary of DEI U.K. and DR Group Holdings
DR Nottingham Investments United Kingdom United Kingdom -
Financing/Holding
company
Subsidiary of DR Group Holdings
DR Corby Limited United Kingdom United Kingdom -
Holding company
Subsidiary of DR Corby Limited
EME Generation (Corby) Ltd United Kingdom United Kingdom -
Holding company
Subsidiaries of Virginia Electric and Power Company
Virginia Power Fuel Corporation Virginia Richmond, Virginia
- Nuclear fuel
procurement
Virginia Power Services, Inc. Virginia Richmond, Virginia
- Shell company
VPS Communications, Inc. Virginia Richmond, Virginia
- Telecommunication
services
Subsidiaris of Virginia Power Services, Inc.
Evantage, Inc. Virginia Richmond, Virginia
- Marketing
VP Property, Inc. Virginia Richmond, Virginia
- Marketing
Virginia Power Energy Marketing, Inc. Virginia Richmond, Virginia
- Marketing
Virginia Power Services Energy Corp., Inc. Virginia Richmond, Virginia
- Marketing
Virginia Power Nuclear Services Company Virginia Richmond, Virginia
- Nuclear
management and
operations
services.
<PAGE>
State of Location and
Name Organization Nature of Business
Subsidiaries of Dominion Capital, Inc.
Catalyst Old River Hydroelectric LP Louisiana Vidalia, Louisiana
- Electric power
production
Dominion Capital Financial, Inc. Virginia Richmond, Virginia
- Financial
services
Dominion Capital Ventures Corporation Virginia Richmond, Virginia
- Middle market
commercial lending
Dominion Financing, Inc. Virginia Richmond, Virginia
- Special purpose
medium-term
financing
subsidiary
Dominion Land Management Company Virginia Richmond, Virginia
- Real estate
management
Dominion Lands, Inc. Virginia Richmond, Virginia
- Land development
Dominion Mortgage Services, Inc. Virginia Richmond, Virginia
- Mortgage services
Dominion Venture Investments, Inc. Virginia Richmond, Virginia
- Middle market
commercial lending
Edgen, Inc. Delaware Richmond, Virginia
- Real estate
holding company
Electronic Lighting, Inc. Delaware Menlo Park,
California -
Lighting control
systems
First Source Equity Holdings, Inc. Virginia Prospect Heights,
Illinois - Holding
company
First Source Financial, Inc. Delaware Prospect Heights,
Illinois - Middle
market commercial
lending
Louisiana Hydroelectric Capital Virginia Richmond, Virginia
Corporation - Investment
company
NH Capital, Inc. Delaware Richmond, Virginia
- Shell company
OptaCor Financial Services Company Virginia Linthicum, Maryland
- Direct mail
unsecured consumer
loans
Rincon Securities Inc. New York Richmond, Virginia
- Investment
company
Rosemont/DCI Properties, Inc. Virginia Richmond, Virginia
- Real estate
investment
Shoulders Hill/DCI Properties, Inc. Virginia Richmond, Virginia
- Real estate
investment
<PAGE>
State of Location and
Name Organization Nature of Business
Subsidiaries of Dominion Capital, Inc. (continued)
Stanton Associates, Inc. Virginia Norfolk, Virginia -
Real estate holding
company
Stonehouse L.L.C. Virginia Toano, Virginia -
Real estate
investment
Trilon Dominion Partners, L.L.C. Delaware New York, New York
- Venture capital
investments
Vidalia Audit, Inc. Virginia Richmond, Virginia
- Audit company for
hydroelectric
project
Virginia Financial Ventures, Inc. Virginia Richmond, Virginia
- Commercial
finance
Williams Court/DCI Properties, Inc. Virginia Richmond, Virginia
- Real estate
investments
Subsidiary of Dominion Capital Ventures Corporation
First Dominion Capital, L.L.C. Delaware New York, New York
- Middle market
commercial lending
Subsidiary of First Dominion Capital, L.L.C.
First Dominion Securities, L.L.C. Delaware New York, New York
- Registered
broker/dealer
Subsidiaries of Stonehouse, L.L.C.
Stonehouse Communications, L.L.C. Virginia Toano, Virginia -
Communications
franchise
Stonehouse Realty Company, L.L.C. Virginia Toano, Virginia-
Real estate
sales/marketing
The Association at Stonehouse, Inc. Virginia Toano, Virginia -
Homeowners'
Association
Subsidiaries of Dominion Venture Investments,Inc.
Cambrian Capital Corporation Delaware Houston, Texas -
Oil/Gas financial
lending
Cambrian Capital Partners L.P. Delaware Houston, Texas -
Oil/Gas financial
lending
Subsidiary of Cambrian Capital Corporation
Triassic Energy Corporation Delaware Houston, Texas -
Oil/Gas financial
lending
Subsidiary of Cambrian Capital Partners L.P. and
Triassic Energy Corporation
Triassic Energy Partners L.P. Delaware Houston, Texas -
Oil/gas financial
lending
Subsidiaries of Dominion Mortgage Services, Inc.
America's MoneyLine, Inc. Virginia Glen Allen,
Virginia - Direct
marketing
<PAGE>
State of Location and
Name Organization Nature of Business
Subsidiaries of Dominion Mortgage Services, Inc. (continued)
Meritech Mortgage Services, Inc. Texas Fort Worth, Texas -
Services mortgage
loans
Mortgage Finance, Inc. Virginia Glen Allen,
Virginia -
Broker/lender
services
Saxon Mortgage, Inc. Virginia Glen Allen,
Virginia - Mortgage
originations
Subsidiaries of Saxon Mortgage, Inc.
Saxon Asset Allocation Corporation Virginia Richmond, Virginia
- Mortgage loans
Saxon Asset Securities Company Virginia Glen Allen,
Virginia -
Securitization
Saxon Capital Corporation Virginia Glen Allen,
Virginia - Mortgage
loans
Subsidiaries of Dominion Land Management Company
Bridgeway Management Company Virginia Suffolk, Virginia -
Real estate
management
Dominion Land Management Virginia James City County,
Company - Williamsburg Virginia - Real
estate management
Old North State Management Company Virginia New London, North
Carolina - Real
estate management
Stonehouse Management Company Virginia Toano, Virginia -
Real estate
management
Waterford Management Company Virginia Houston, Texas -
Real estate
management
Subsidiaries of Trilon Dominion Partners, L.L.C.
EPL Technologies, Inc. Colorado West Conshohocken,
Pennsylvania - Food
processing
technologies
InstantVision Pennsylvania Sarasota, Florida -
Manufacture/ market
vision correction
systems
NutriCept, Inc. Delaware Dallas, Texas -
Nutriceuticals
Wilshire Technologies, Inc. California Carlsbad,
California -
Medical supplies
Subsidiary of Stanton Associates, Inc.
Goodman Segar Hogan, Inc. Virginia Norfolk, Virginia -
Real estate company
<PAGE>
State of Location and
Name Organization Nature of Business
Subsidiaries of Goodman Segar Hogan, Inc.
Air Cargo Associates Virginia Norfolk, Virginia -
Operating
Partnership-Real
estate
American Storage Properties, Inc. Virginia Norfolk, Virginia -
Real estate
investment
Baxter Road Associates Virginia Norfolk, Virginia -
Operating
Partnership-Real
estate
Denbigh Shopping Center Associates Virginia Norfolk, Virginia -
Real estate
investment
Goodman Segar Hogan of Virginia Norfolk, Virginia -
Atlanta, Inc. Real estate
investment
Goodman Segar Hogan of Virginia Norfolk, Virginia -
Orlando, Inc. Operating
partnerhip - Real
estate investment
Goodman Segar Hogan of Virginia Norfolk, Virginia -
Southern Shopping Center Real estate
investment
Goodman Segar Hogan of Virginia, Inc. Virginia Norfolk, Virginia -
Real estate
investment
Goodman Segar Hogan of Virginia Norfolk, Virginia
World Trade Center, Inc. - Real estate
investment
World Trade Center Associates, L.P. Virginia Norfolk, Virginia -
Operating
Partnership - Real
estate
GSH/Stanton Associates, L.P. Virginia Norfolk, Virginia -
Real estate
investment
Historic Towne Square Company Virginia Norfolk, Virginia -
Operating
Partnership-Real
estate
Hogan Stanton, Inc. Virginia Norfolk, Virginia -
Real
estate investment
Hogan Stanton Investment, Inc. Virginia Norfolk, Virginia -
Real estate
investment
Hogan Stanton Properties, Inc. Virginia Norfolk, Virginia -
Real estate
investment
Stanton Associates One Virginia Norfolk, Virginia -
Real estate
investment
Stanton Associates Two Virginia Norfolk, Virginia -
Real estate
investment
Tidewater Drive, Inc. Virginia Norfolk, Virginia -
Real estate
investment
<PAGE>
State of Location and
Name Organization Nature of Business
Subsidiaries of Goodman Segar Hogan of Orlando, Inc.
Curry Ford Florida Orlando, Florida -
Real estate
investment
University Square Associates, L.P. Florida Orlando, Florida -
Real estate
investment
Subsidiary of Denbigh Shopping Center Associates
Turnbarr Associates Virginia Norfolk, Virginia -
Operating
partnership-Real
estate
Subsidiary of Stanton Associates One
Brown Farm Associates Virginia Norfolk, Virginia -
Operating
partnership - Real
estate
Subsidiary of Stanton Associates Two
Salem Lakes Commercial Associates Virginia Norfolk, Virginia -
Operating
partnership - Real
estate
Subsidiary of Hogan Stanton, Inc.
HS Advisors, Ltd. Virginia Norfolk, Virginia -
Real estate
investment
Subsidiary of Hogan Stanton Investments, Inc.
HS Advisors III, Ltd. Virginia Norfolk, Virginia -
Real estate
investment
Subsidiary of American Storage Properties, Inc.
GSH/American Storage Virginia Norfolk, Virginia
Properties Associates, L.P. - Real estate
investment
Subsidiary of Edgen, Inc.
H-W Properties, Inc. Delaware Houston, Texas -
Real estate
investment
Subsidiary of H-W Properties, Inc.
Waterford Harbor Realty, Inc. Texas Houston, Texas -
Real estate
management
Subsidiary of Virginia Financial Ventures, Inc. and NH Capital, Inc.
First Source Financial, LLP Illinois Prospects Heights,
Illinois - Middle
market commerical
lending
Subsidiary of First Source Equity Holdings, Inc.
and First Source Financial, LLP
FS Warrant L.P. Delaware Prospect Heights,
Illinois - Equity
holding company
Subsidiaries of Dominion Lands, Inc.
Chesterfield Land, Inc. Virginia Chesterfield
County, Virginia -
Land development
<PAGE>
State of Location and
Name Organization Nature of Business
Subsidiaries of Dominion Lands, Inc. (continued)
Dominion Lands-Williamsburg, Inc. Virginia James City County,
Virginia - Land
Development
Old North, Inc. Virginia New London, North
Carolina - Real
estate development
Widewater Associates Virginia Stafford County,
Virginia - Land
Development
Subsidiary of Dominion Lands, Inc. and Chesterfield Land, Inc.
Chesterfield Land Associates Virginia Chesterfield
County, Virginia -
Land development
Subsidiairies of Lake Badin Associates
Old North Builders, L.L.C. Virginia New London, North
Carolina -
Construction
Management
Uwharrie Point Community North Carolina New London, North
Association, Inc. Carolina -
Homeowners
Association
Subsidiary of Dominion Lands, Inc. and Dominion Lands-Williamsburg, Inc.
Governor's Land Associates Virginia Williamsburg,
Virginia - Land
Development
Subsidiaries of Governor's Land Associates
Dominion Construction Management Virginia Williamsburg,
Company, L.L.C. Virginia -
Construction
Company
The Governor's Land Foundation Virginia Williamsburg,
Virginia -
Homeowners
Association
Two Rivers Club at The Delaware Williamsburg,
Governor's Land Virginia - Country
Club
Subsidiary of Dominion Lands, Inc. and Old North, Inc.
Lake Badin Associates Virginia Montgomery County,
North Carolina -
Land Development
Subsidiaries of Dominion Energy, Inc.
Caithness BLM Group L.P. New Jersey Ridgecrest,
California -
Geothermal electric
generation
Caithness Navy II Group L.P. New Jersey Inyo County,
California -
Geothermal electric
generation
Carthage Energy Services, Inc. Michigan Traverse City,
Michigan - Gas
marketing<PAGE>
State of Location and
Name Organization Nature of Business
Subsidiaries of Dominion Energy, Inc. (continued)
DEI Canada Holding Company Inc. Canada Alberta, Canada -
Gas exploration and
production in
Canada
DEI Cayman Holding Company Virginia Richmond, Virginia
- Holding company
Dominion Black Warrior Basin, Inc. Alabama Tuscaloosa, Alabama
- Methane gas
production
Dominion Cogen, Inc. Virginia Headquarters in
Richmond, Virginia
- Cogeneration
Dominion Cogen NY, Inc. Virginia Headquarters in
Richmond, Virginia
- Cogeneration in
state of New York
Dominion Cogen WV, Inc. Virginia Headquarters in
Richmond, Virginia
- Cogeneration in
state of West
Virginia
Dominion Elwood, Inc. Delaware Richmond, Virginia
- Equity holding
Dominion Elwood Marketing, Inc. Delaware Richmond, Virginia
- Equity holding
Dominion Energy Central America, Inc. Belize, C.A. Belize City, Belize
- Equity holding
Dominion Energy Construction Company Virginia Richmond, Virginia
- General
contractor for
Kincaid
Dominion Energy Management, Inc. Virginia Richmond, Virginia
- Shell company.
Dominion Energy Peru Holdings, Inc. Virginia Peru - Equity
holding
Dominion Generating S.A. Argentina Buenos Aires,
Argentina -
Electric power
production in
Argentina
Dominion Kincaid, Inc. Virginia Richmond, Virginia
- Equity holding
Dominion Reserves, Inc. Virginia Richmond, Virginia
- Gas and oil
development
Dominion Reserves-Utah, Inc. Utah Headquarters in
Richmond, Virginia
- Methane gas
production in Utah
<PAGE>
State of Location and
Name Organization Nature of Business
Subsidiaries of Dominion Energy, Inc. (continued)
Dominion San Juan, Inc. Virginia Richmond, Virginia
- Holding company
Dominion Storage, Inc. Virginia Richmond, Virginia
- Equity holding
company
Luz Solar Partners Ltd., VII L.P. California Los Angeles,
California - Solar
electric generation
Niton US, Inc. Virginia Richmond, Virginia
- Equity holding
company
Rumford Cogeneration Company, Ltd. Maine Rumford, Maine -
Cogeneration
Subsidiary of Carthage Energy Services, Inc. and Dominion Reserves, Inc.
Phoenix Dominion Energy, LLC Virginia Pittsburgh, PA -
Gas marketing
company
Subsidiary of DEI Canada Holding Company, Inc.
Dominion Energy Canada, Ltd. Canada Alberta, Canada -
Gas and oil
exploration and
development
Subsidiary of Dominion Energy, Inc. and DEI Cayman Holding Company
Dominion Energy Holding Cayman Cayman Islands Richmond, Virginia
Company LDC - Equity holding
Subsidiary of Dominion Energy, Inc., Dominion Cogen, Inc.
and Dominion Reserves, Inc.
Dominion Energy Interamerican Cayman Islands Richmond, Virginia
Holding Company LDC - Equity holding
Subsidiaries of Dominion Energy Interamerican Holding Compay LDC
DEI Holding Cayman Company Limited Cayman Islands Richmond, Virginia
- Equity holding
DEI Interamerican Holding Cayman Islands Richmond, Virginia
Company Limited - Equity holding
Inversiones Dominion Panama S.A. Panama Richmond, Virginia
- Equity holding
Subsidiary of Dominion Energy Holding Cayman LDC
and Dominion Energy Interamerican Holding LDC
Dominion do Brasil Ltda Brazil Richmond, Virginia
- Equity holding
Subsidiary of Dominion do Brasil Ltda
DOMA Brazil Gerusal - Bid
Company
<PAGE>
State of Location and
Name Organization Nature of Business
Subsidiary of DEI Holding Cayman Company Limited, DEI Interamerican Holding
Company Ltd and Dominion Energy Interamerican Holding LDC
Inversiones Dominion Bolivia S.A. Bolivia Bolivia - Equity
holdings
Subsidiary of Dominion Energy, Inc. and Dominion Energy Peru Holdings, Inc.
Dominion Holdings Peru S.A.C. Peru Peru - Equity
holdings
Subsidiary of Dominion Holdings Peru S.A.C.
Inversiones Dominion Peru S.A. Peru Peru - Equity
holdings
Subsidiary of Dominion Storage, Inc. and Niton US, Inc.
Niton Hub Services Company Canada Alberta, Canada -
Gas storage
facilities
Subsidiary of Dominion Elwood, Inc.
Elwood Energy LLC Delaware Elwood, Illinois -
Power generation in
the state of
Illinois
Subsidiary of Dominion Elwood Marketing, Inc.
Elwood Marketing, LLC Delaware Elwood, Illinois -
Power marketing in
state of Illinois
Subsidiary of Dominion San Jaun, Inc.
San Juan Partners, L.L.C. Texas Richmond, VA - Oil
and gas investments
Subsidiaries of Dominion Energy, Inc. and Dominion Cogen NY, Inc.
Middle Falls Limited Partnership New York Glens Falls, New
York - Small Power
Producer
NYSD Limited Partnership New York Glens Falls, New
York - Small Power
Producer
Sissonville Limited Partnership New York Glens Falls, New
York - Small Power
Producer
Subsidiary of Dominion Cogen WV, Inc.
Morgantown Energy Associates West Virginia Morgantown, WV -
Cogeneration
Subsidiaries of Dominion Reserves, Inc.
Cypress Energy, Inc. Virginia Richmond, Virginia
- Oil/gas
development in
Louisiana
Dominion Appalachian Development, Inc. Virginia Jane Lew, WV - Oil
and gas development
Dominion Appalachian Development Virginia Jane Lew, West
Properties, LLC Virginia - Oil and
gas development
Dominion Gas Processing MI, Inc. Virginia Headquarters in
Richmond, Virginia
- Natural gas
processing in
Michigan
<PAGE>
State of Location and
Name Organization Nature of Business
Subsidiaries of Dominion Reserves, Inc. (continued)
Dominion Midwest Energy, Inc. Michigan Grand Rapids,
Michigan - Oil and
gas development
Dominion Reserves Gulf Coast, Inc. Virginia Richmond, Virginia
- Offshore
investments in oil
and gas
exploration/
drilling
Dominion Reserves - Indiana, Inc. Virginia Indiana - Oil and
gas development
Great Lakes Compression, Inc. Michigan Grand Rapids,
(DBA Great Lakes Oil Field Services Co.) Michigan - Oil and
gas development
Great Lakes Energy Development, Inc. Michigan Grand Rapids,
Michigan - Oil and
gas development
Wolverine Environmental Protection, Inc. Michigan Grand Rapids,
Michigan - Oil and
gas development
Subsidiary of Dominion Reserves - Indiana, Inc.
GTG Pipeline Corporation Virginia Corydon, Indiana -
Gas pipeline
Subsidiary of Great Lakes Energy Development, Inc.
Wolverine Reserves, LLC Michigan Grand Rapids, MI -
Oil and gas
development
Subsidiaries of Dominion Gas Processing MI, Inc.
Frederic HOF L.P. Virginia Gaylord, Michigan -
Natural gas
processing
Wilderness Energy, L.C. Michigan Gaylord, Michigan -
Natural gas
gathering and
processing
Subsidiary of Wilderness Energy, L.C. and
Dominion Gas Processing MI, Inc.
Wilderness Energy Services L.P. Michigan Gaylord, Michigan -
Natural gas
gathering and
processing
Subsidiaries of Dominion Generating S.A.
A. V. Holding S.A. Argentina Buenos Aires,
Argentina - Equity
holdings in
Argentina
Patagonia Holding, S.A. Argentina Buenos Aires,
Argentina - Equity
holdings in
Argentina
<PAGE>
____________________________
(*) For the fiscal year ended December 31, 1998, the revenues and
income and net income of Dominion Capital, Inc. (Dominion Capital),
Dominion Energy, Inc. (Dominion Energy) and their subsidiaries, as
percentages of Dominion Resources' consolidated revenues and income and
net income, are as follows:
Revenues and
income as % of Net income as %
consolidated of consolidated
Dominion Capital 6.7% 11.0%
Dominion Energy 6.3% 10.7%
2. A brief description of the properties of claimant and each of
its subsidiary public utility companies used for the generation,
transmission and distribution of electric energy for sale, or for the
production, transmission and distribution of natural or manufactured
gas, indicating the location of principal generating plants,
transmission lines, producing fields, gas manufacturing plants, and
electric and gas distribution facilities, including all such properties
which are outside the State in which claimant and its subsidiaries are
organized and all transmission or pipelines which deliver or receive
electric energy or gas at the borders of such State, as of December 31,
1998 is as follows:
Dominion Resources owns all of the issued and outstanding common
stock of Virginia Electric and Power Company, a Virginia public service
corporation. Virginia Power is a regulated public utility engaged in
the generation, transmission, distribution and sale of electric energy
in a 30,000 square mile service area in Virginia and northeastern North
Carolina and has generation, transmission and distribution facilities in
each of those states. Virginia Power also owns a fuel pier that extends
into navigable waters of Maryland and owns generation and transmission
facilities located in West Virginia. In its service area it sells
electricity to retail customers, including governmental agencies, and to
wholesale customers such as rural electric cooperatives and
municipalities. Virginia Power's service area comprises about 65% of
Virginia's total land area, but accounts for over 80% of its population.
Dominion Resources also owns, through its United Kingdom subsidiary,
Dominion U.K. Holding, Inc., an 80% ownership interest in the Corby
Power Station, a 365 Mw natural gas fired facility located about 90
miles north of London. Dominion Capital owns, in accordance with a
no-action letter from the SEC Office of Public Utility Regulation dated
December 22, 1987, a limited partnership interest in Catalyst Old River
Hydroelectric Limited Partnership, which is the lessee of a hydro
facility in Louisiana. Dominion Energy has interests in various
generation and small power production facilities in various states of
the United States, but all of such facilities are Qualifying Facilities
under the Public Utility Regulatory Policies Act or Exempt Wholesale
Generators under the Public Utility Holding Company Act of 1935.
Dominion Energy has also purchased, through Exempt Wholesale Generators,
interests in a gas-fired, diesel oil fueled and hydroelectric generating
facilities in Argentina, Belize, Bolivia and Peru and operates these
facilities through such Exempt Wholesale Generators. Dominion Reserves,
Inc., a subsidiary of Dominion Energy is a participant in oil and
natural gas development programs in Arkansas, Canada, the Gulf of Mexico,
Kansas, Louisiana, Michigan, Nevada, Ohio, Oklahoma, Pennsylvania, South
Dakota, Texas, Utah, West Virginia and Wyoming.
A more detailed description of the properties of, and a discussion of
the business of Dominion Resources and its subsidiaries, is found in the
Annual Report on Form 10-K (File No. 1-8489) for the fiscal year ended
December 31, 1997 which is on file with the SEC and incorporated herein
by this reference.
3. The following information as of December 31, 1998 with respect
to claimant and each of its subsidiary public utility companies is
provided below:
(a) Number of kwh of electric energy sold (at retail or
wholesale), and MCF of natural or manufactured gas distributed at
retail.
(b) Number of kwh of electric energy and MCF of natural or
manufactured gas distributed at retail outside the State in which each
such company is organized.
(c) Number of kwh of electric energy and MCF of natural or
manufactured gas sold at wholesale outside the State in which each such
company is organized, or at the State line.
(d) Number of kwh of electric energy and MCF of natural or
manufactured gas purchased outside the State in which each such company
is organized, or at the State line.
<PAGE>
Virginia Power
Electric Energy Sales By State
Twelve Months Ended December 31, 1998
Revenues
Description (000's) (MWH/1000)
Retail
Virginia $3,560,217 61,127.7
North Carolina (b) 204,308 3,195.0
Total Retail $3,764,525 64,322.7
Wholesale
Alabama 3,523 111.2
Arkansas 399,394 11,433.5
Florida 1,444 20.7
Georgia 19 0.3
Illinios 56,698 2,242.7
Indiana 5,477 207.9
Kentucky 16 1.0
Maryland 508,740 17,670.7
Missouri 33 2.0
New York 548 19.2
North Carolina 54,282 1,391.2
Ohio 591,271 16,150.7
Pennsylvania 329,540 9,361.4
South Carolina 396 11.3
Tennessee 64,482 1,819.8
Texas 102,800 2,376.3
Total Wholesale Outside
Virginia (c) $2,118,663 62,820.1
Wholesale Virginia 199,620 4,750.0
Total Wholesale 2,318,283 67,569.9
Total Electric Energy Sold (a) $6,082,808 131,892.6
____________
Notes refer to Item 3. categories.
<PAGE>
Virginia Power
Purchases of Electric Energy Outside the State of Virginia
Twelve Months Ended December 31, 1998
Expenses (MWH/1000)
States (000's) Purchases
Alabama $ 363 9.4
Arkansas 386,939 11,502.6
Florida 2,530 47.5
Georgia 17 0.3
Illinios 158,877 5,264.6
Indiana 88,324 2,661.1
Maryland 469,815 16,028.8
New York 681 13.6
North Carolina 11,407 259.7
Ohio 510,281 14,190.0
Pennsylvania 317,840 9,393.3
South Carolina 59 1.6
Tennessee 56,989 1,688.2
Texas 104,463 3,126.2
Total (d) $2,108,585 64,186.9
____________
Notes refer to Item 3. categories.
<PAGE>
Virginia Power
Natural Gas Sales By State
Twelve Months Ended December 31, 1998
Retail Natural Gas Sales Wholesale Natural Gas Sales
________________________ ___________________________
Revenues (MCF/1000) Revenues (MCF/1000)
State (000's) Sales (000's) Sales
Alabama $8 3.5
Delaware 397 164.0
Georgia 136 57.0
Illinois $318 148.0 20,046 9,010.0
Indiana 44 19.8
Kentucky 15 2.1 1,212 486.0
Lousianna 169 81.0 69,640 32,473.0
Maryland 1,316 544.5 9,803 3,211.9
Michigan 1,054 445.0 376 170.0
Mississippi 229 103.1
North Carolina 442 175.8 629 260.1
New Jersey 958 309.7
New York 20,380 8,395.1
Ohio 698 245.9 8,492 3,525.5
Pennsylvania 2,845 1,213.3 9,312 3,334.6
Pool(*) 424,039 184,274.6
Wisconsin 1,212 503.4 714 363.4
West Virginia 78 29.2 9,470 3,412.5
Natural Gas Sold
Outside the State
of Virginia (b) (c) 8,376 3,491.3 $575,656 249,470.7
Retail Sales of Gas
in Virginia 19,922 7,424.5
Natural Gas Sold
at Retail (a) $28,298 10,915.8
___________
Notes refer to Item 3. categories.
(*)Represents sales of gas through various pools located in multi-state areas.
<PAGE>
Virginia Power
Purchases of Natural Gas Outside the State of Virginia
Twelve Months Ended December 31, 1998
Expenses (MCF/1000)
State (000's) Purchases
Alabama $140 58.0
Georgia 8 3.4
Illinois 20,746 9,172.6
Indiana 43 19.8
Kentucky 1,971 965.9
Lousianna 79,453 37,305.2
Maryland 929 379.8
Michigan 1,011 475.1
North Carolina 100 39.2
New York 21,729 8,009.6
Ohio 28,210 12,903.3
Pennsylvania 14,619 6,256.8
Pool(*) 487,264 214,795.1
Virginia
Wisconsin 1,563 741.9
West Virginia 9,837 4,382.0
Total (d) $667,623 295,507.7
____________
Notes refer to Item 3. categories.
(*)Represents gas purchased through various pools located in multi-state areas.
4. The following information as of December 31, 1998 with respect to
claimant and each interest it holds directly or indirectly in an EWG or a
foreign utility company, stating monetary amounts in United States
dollars:
(a) Name, location, business address and description of the facilities
used by the EWG or foreign utility company for the generation,
transmission and distribution of electric energy for sale or for the
distribution at retail of natural or manufactured gas.
1. Name: Belize Electric Company Limited
Location: The facility is located on the Macal River in Cayo
District, Belize, Central America.
Business Address: Belize Electric Company Limited
P. O. Box 87, San Ignacio Town
Cayo District, Belize, C.A.
<PAGE>
Description: This 25.2 Mw hydroelectric facility is located in
western Belize, C.A. on the Macal River. The project
consists of a diversion dam, a 2.5 mile power tunnel,
and a powerhouse which contains three 8,400 Kw turbine
generators. The diversion dam impounds sufficient
water to allow daily regulation.
2. Name: Hidroelectrica Cerros Colorados Power Plant
Location: The facility is located 50 miles west of the city of
Neuquen on the Neuquen River in Neuquen Province,
Argentina.
Business Address: Hidroelectrica Cerros Colorados S.A.
Leandro N. Alem 690
Piso 12
Buenos Aires, Argentina
Description: This hydroelectric generating facility has a
nominal power production capacity of 450 Mw. It
consists of two 225 Mw turbogenerators with
associated equipment and five dams. The
generating plant dam is earthen-filled, and the
other four dams consist of one earthen-filled
diversion structure, two earthen-filled flow
regulating structures and one concrete flow
regulating structure.
3. Name: Central Termica Alto Valle Power Plant
Location: The facility is located in the city of Neuquen,
Argentina.
Business Address: Central Termica Alto Valle S.A.
Leandro N. Alem 690
Piso 12
Buenos Aires, Agentina.
Description: The Alto Valle Station has a nominal power production
capacity of 98 Mw. The Station consists of five
turbines: two 15 Mw steam turbines, one 18 Mw gas
turbine and two 25 Mw gas turbines. The Station is
interconnected with Compania Administradora del
Mercado Mayorista Electrico Sociedad Anonima, which is
the Argentine spot market for electric energy, by four
transmission lines.
<PAGE>
4. Name: Empresa Electrica Corani S.A.
Location: The facility is located 50 miles northeast of the city
of Cochabamba, Bolivia.
Business Address: Empresa Electrica Corani S.A.
Av. Oquendo N-0654
Las Torres Sofer I, Piso 9
Cochabamba, Bolivia
Description: These hydroelectric generating facilities have a
nominal power production capacity of 126 Mw. The
facilities consist of a 72 Mw hydroelectric generating
station consisting of four 18 Mw turbogenerators and
related structures and a 54 Mw hydroelectric
generating station consisting of four 13.5 Mw
turbogenerators and related structures. The
facilities also include a mixed earthen and rock-
filled dam creating the Corani Reservoir from the
waters of the Corani, Malaga and Candilaria Rivers.
The facilities are interconnected with the Systema
Interconectado National, the Bolivian wholesale
transmission grid.
5. Name: EGENOR S.A.
Location: The eight generating facilities are located in the
northern portion of Peru.
Business address: EGENOR S.A.
Av. Pardo y Aliaga 699
Piso 4
San Isidro
Lima, Peru
Description: These 450 Mw generating facilities consist of two run
-of-river hydroelectric stations with reinforced
concrete dams with an aggregate nameplate capacity of
270 Mw, and six other facilities with an aggregate
nominal power production of 180 Mw consisting of
diesel generators and combustion turbines. All
facilities are interconnected with the Systemn
Interconectado Centra Norte, the Peruvian wholesale
transmission grid.
6. Name: Kincaid Generation, L.L.C.
Location: 4 miles west of Kincaid, Illinois on Route 104
Business Address: P. O. Box 260
Kincaid, IL 62540-0260<PAGE>
Description: This 1,108 Mw facility consists of two 554Mw
generating units, two main power transformers,
system auxiliary transformers, unit auxiliary
transformers, coal handling and unloading
facilities, equipment and ancillary structures.
This facility is interconnected to Commonwealth
Edison Company's transmission system.
7. Name: Dominion Energy Services Company, Inc.
Location: Richmond, Virginia
Business Address: P. O. Box 26532
Richmond, VA 23261
Description: This entity does not own any facilities. Instead it
acts as the operator for certain "eligible facilities"
including those owned by Morgantown Energy Associates,
Belize Electric Company Limited and Kincaid
Generation, L.L.C.
8. Name: Corby Power Ltd.
Location: Corby, United Kingdom
Business Address: Mitchell Road, Phoenix Parkway
Corby, Northants
NN175QT United Kingdom
Description: This facility is located on a 7.1 hectare site in
Corby, Northampshire, England. The facility consists
of two 110 Mw GE 9161E gas turbines, three Bursh
Electrical Machine Ltd. Generators, a 114 Mw GEC
Alsthom steam turbine and a Gesellschaft
Elektrishefither Analgen air-cooled condenser. The
facility is interconnected to the transmission system
of East Midlands Electricity, plc, via a 132 kV
transmission line which is not owned by Corby.
(b) Name of each system company that holds an interest in such EWG
or foreign utility company, and description of the interest held.
Name Description of Interest Held
Dominion Resources, Inc. 100% Ownership of Dominion Energy,
Inc.
Dominion Energy, Inc. 100% ownership interest in Dominion
Generating S.A.
100% ownership interest in Dominion
Energy Central America, Inc.
100% ownership interest in Dominion
Energy Peru Holdings, Inc.
100% ownership interest in Dominion
Energy Services Company, Inc. EWG#
95-28-000.
100% ownership interest in Dominion
Kincaid, Inc.
Dominion Kincaid, Inc. 99% ownership interest in Kincaid Generation,
L.L.C. EWG# EG-97-50-000. (Remaining
1% owned by Dominion Energy, Inc.)
100% ownership interest in Dominion
Management Argentina S.A., EWG#
EG93-60-000 and EWG# EG93-53-000.
100% ownership interest in Inversiones
Dominion Bolivia S.A.
99% ownership interest in Dominion
Holdings Peru S.A.C. (Remaining 1%
owned by Dominion Energy Peru
Holdings, Inc.)
Dominion Holdings Peru S.A.C. 51% ownership interest in Inversiones
Dominion Peru S.A.
Dominion Generating S.A. 100% ownership interest in Patagonia
Holding S.A.
60% ownership interest in A.V. Holding
S.A.
Dominion Energy Central 95% ownership interest in Belize
America, Inc. Electric Company Limited, EWG#
EG93-45-000.
Dominion U.K. Holding, Inc. 80% ownership interest in Corby Power
Ltd. EWG# EG-97-83-000.
Patagonia Holding S.A. 98% ownership interest in
Hidroelectrica Cerros Colorados S.A.,
EWG# EG93-58-000.
A.V. Holding S.A. 90% ownership interest in Central
Termica Alto Valle S.A., EWG#
EG93-93-000.
Inversiones Dominion 50% ownership interest in Empresa
Bolivia S.A. Electrica Corani S.A. EWG# EG95-59-000
Inversiones Dominion Peru S.A. 60% ownership interest in EGENOR S.A.
EWG# EG96-79-000
(c) Type and amount of capital invested, directly or indirectly,
by the holding company claiming exemption; any direct or indirect guarantee
of the security of the EWG or foreign utility company by the holding
company claiming exemption; and any debt or other financial obligation for
which there is recourse, directly or indirectly, to the holding company
claiming exemption or another system company, other than the EWG or
foreign utility company.
Kincaid Financing/Dominion Resources Obligations
Dominion Resources has the following obligations associated with the
financing of Kincaid Generation, LLC (Kincaid):
(a) Backstop Equity Subscription Agreement where Dominion
Resources is required to, in certain circumstances, contribute equity
contributions of up to approximately $100 million and, if it elects,
debt service reserve account equity contributions expected to be in
place by March 1, 2000;
(b) Backstop Cash Management Agreement where Dominion Resources
is obligated to restore any advances or loans from Kincaid to
Dominion Energy that Dominion Energy fails to pay back; and
(c) Liquidity Support Agreement-Power Purchase Agreement where
Dominion Resources provides liquidity support in the amount of $17
million for a Dominion Energy corporate guaranty that ensures the
timely performance by Kincaid of its obligations to deliver electric
energy to Commonwealth Edison under the Power Purchase Agreement.
<PAGE>
DOMINION RESOURCES, INC.
ANALYSIS OF FOREIGN INVESTMENTS
AS OF DECEMBER 31, 1998
US$
DOMINION RESOURCES
INVESTMENT
TYPE INVESTMENT AMOUNT DIRECT/INDIRECT
(Thousands)
Dominion Energy, Inc.
Belize Projects:
Stock $ 15,760 Indirect
Debt 22,119 Indirect
37,879
Argentine Projects:
Stock 100,258 Indirect
Debt 29,057 Indirect
Letter-of-Credit(*) 10,000 Indirect
139,315
Bolivian Projects:
Stock 59,173 Indirect
Peru Projects:
Stock 116,402 Indirect
Dominion U.K. Holding, Inc.
Corby Power Limited
Stock 38,477 Indirect
____________
(*) The Letter-of-Credit is a Dominion Energy guarantee of debt for
the Central Termica Alto Valle Project.
<PAGE>
(d) Capitalization and earnings of the EWG or foreign utility company
as of December 31, 1998.
(Thousands)
Capitalization:
Central Termica Alto Valle S.A.:
Stock $11,013
Letter-of-Credit 10,000
Debt 29,057
48,800
======
Hidroelectrica Cerros Colorados S.A.:
Stock 113,265
======
Belize Electric Company Limited:
Stock 12,730
Debt Due Dominion Energy 22,119
34,849
=======
Empresa Electrica Corani S.A.:
Stock 45,913
======
EGENOR S.A.:
Stock 84,790
======
Corby Power Limited
Stock $69,854
======
Earnings:
Central Termica Alto Valle S.A. $ (489)
Hidroelectrica Cerros Colorados S.A. 2,089
Dominion Management Argentina S.A. 547
Belize Electric Company Limited 2,749
Empresa Electrica Corani S.A. 4,751
EGENOR S.A. 8,622
Corby Power 10,294
(e) Identify any service, sales or construction contract(s)
between the EWG or foreign utility company and a system company, and describe
the services to be rendered or goods sold and fees or revenues under such
agreement(s).
1. Dominion Energy has a support services contract with Dominion
Management Argentina S.A. (Manager) dated December 1, 1993 to provide
personnel, supervision, technical expertise and other services as Manager
may request from time to time for the purpose of assisting Manager to
fulfill its obligation to Central Termica Alto Valle S.A. and
Hidroelectrica Cerros Colorados S.A. Dominion Energy is reimbursed for
costs associated with services it provides.
2. Dominion Management Argentina S.A. (DMASA) has a contract with
Central Termica Alto Valle S.A. (CTAV) dated August 26, 1992 to provide
the management of operations and maintenance for the Central Termica Alto
Valle Plant. In addition, DMASA is reimbursed for the cost it incurs
associated with fulfilling its obligations under this contract. DMASA
receives a management fee of 2% of the gross revenue of the energy sales
from the facility. Operations and maintenance costs are paid by CTAV.<PAGE>
3. DMASA has a contract with Hidroelectrica Cerros Colorados S.A.
(HCC) dated September 1, 1993 to provide management of operations and
maintenance for the Hidroelectrica Cerros Colorados Plant. DMASA receives
a management fee of 1.5% of the gross revenue from the sale of energy from
the facility. Operations and maintenance costs are paid by HCC.
4. Dominion Energy Services Company, Inc. (DESCO), a wholly-owned
subsidiary of Dominion Energy has a contract, dated January 1, 1994, to
provide the management, operation and maintenance services to Belize
Electric Company Limited. DESCO will be reimbursed for the costs it incurs
related to this obligation and be paid a fee equal to 2% of gross revenue
from the sale of energy from the facility.
5. Inversiones Dominion Bolivia S.A. (IDB), a wholly owned
subsidiary of Dominion Energy and Empresa Electrica Corani S.A. have
entered into an agreement (the Corani Agreement), effective August 1,
1995, as amended, pursuant to which IDB provides management services to
Empresa Electrica Corani S.A. for a quarterly fee of $10,286. Dominion
Energy and IDB have entered into an agreement, effective September 1,
1996, pursuant to which Dominion Energy provides support to IDB for the
performance of IDB's obligations under the Corani Agreement for a
quarterly fee of $10,286.
6. DESCO has a contract dated February 27, 1998, to provide
operation, maintenance and management services to Kincaid Generation,
L.L.C. DESCO will be reimbursed for the costs it incurs related to this
obligation (subject to the approval of such costs through the annual
budget or otherwise). In addition, DESCO will received an annual
operating fee of $2,000,000, adjusted annually throughout the twenty-
five year term of the agreement to reflect inflation.
7. Dominion Energy Construction Company (DECCO), a wholly-owned
subsidiary of Dominion Energy, has a contract dated February 27, 1998,
with Kincaid Generation, L.L.C. for engineering, procurement, construction
and installation services related to certain capital improvements at the
Kincaid Station. The amount payable for the work under such contract is
fixed at $98,917,000, subject to adjustment via approved changes under the
agreement. DESCO has also made certain schedule and performance
guarantees under such agreement which are both subject to specified
liquidated damages if they are not met.
8. DESCO has a contract dated September 15, 1989, to provide
operating and maintenance services to Morgantown Energy Associates, a
qualifying facility exclusively selling at wholesale in which Dominion
Cogen WV, Inc. (a wholly-owned subsidiary of Dominion Energy) is a 50%
general partner. DESCO will be reimbursed for all costs it incurs related
to this obligation (subject to the approval of such costs through the
annual budget or otherwise). In addition, DESCO will receive a quarterly
fee of $122,000 (as escalated to reflect inflation). Finally, an
incentive bonus mechanism is set forth in the agreement.
<PAGE>
EXHIBIT A
A consolidating statement of income and surplus of the claimant and
its subsidiary companies for the last calendar year (1998), together with
a consolidating balance sheet of claimant and its subsidiary companies as
of the close of such calendar year, are submitted as Exhibit A hereto.
The above-named claimant has caused this statement to be duly
executed on its behalf by its authorized officer on the 26th day of
February 1999.
DOMINION RESOURCES, INC.
BY: /s/JAMES L. TRUEHEART
James L. Trueheart
Senior Vice President and
Controller
Corporate Seal
Attest:
BY: /s/PATRICIA A. WILKERSON
Patricia A. Wilkerson
Corporate Secretary
Name, title, and address of officer to whom notices and correspondence
concerning this statement should be addressed:
James L. Trueheart, Senior Vice President and Controller
________________________________________________________________
(Name) (Title)
120 Tredegar Street
P. O. Box 26532
Richmond, Virginia 23261-6532
<PAGE>
<TABLE>
Exhibit A page 1 of 16
DOMINION RESOURCES, INC. CONSOLIDATING STATEMENT OF INCOME
YEAR-TO-DATE ENDED DECEMBER 31, 1998 (thousands)
<CAPTION>
CONSOLIDATED
DRI HOLDING VIRGINIA INTERCO. DRI
COMPANY DCI DEI POWER ELIM. CONSOLIDATED
<S> <C> <C> <C> <C> <C> <C>
OPERATING REVENUES AND INCOME
Virginia Power $4,284,599 $4,284,599
East Midlands 1,009,471 1,009,471
Nonutility 409,142 382,970 792,112
Total operating revenues & income 1,009,471 409,142 382,970 4,284,599 6,086,182
OPERATING EXPENSES
Fuel, net 953,478 953,478
Purchased power capacity, net 805,995 805,995
Impairment of regulatory assets 158,644 158,644
Supply & distribution-
East Midlands 654,894 654,894
Other operation and maintenance 166,374 169,731 190,779 854,317 1,381,201
Depreciation, depletion & amort 81,820 25,223 90,758 536,409 734,210
Other taxes 1,025 3,732 11,830 289,983 306,570
Total operating expenses 904,113 198,686 293,367 3,598,826 - 4,994,992
Operating income 105,358 210,456 89,603 685,773 - 1,091,190
OTHER INCOME AND EXPENSES
Gain on sale of East Midlands 332,340 332,340
Other 68,025 27,349 18,019 (20,206) 93,187
Total other income 400,365 - 27,349 18,019 (20,206) 425,527
Income before fixed charges,
income taxes, & minority
interests 505,723 210,456 116,952 703,792 (20,206) 1,516,717
FIXED CHARGES
Interest charges, net 129,217 121,149 46,787 305,754 (20,206) 582,701
Preferred dividends of Va. Power 35,783 35,783
Distributions-pref. securities
of sub. trusts 18,462 10,868 29,330
Total fixed charges 147,679 121,149 46,787 352,405 (20,206) 647,814
Income before provision for
income taxes & minority
interests 358,044 89,307 70,165 351,387 868,903
Provision for income taxes 130,763 30,615 (12,719) 157,297 305,956
Minority interests 1,626 25,758 27,384
Net income $225,655 $58,692 $57,126 $194,090 $0 $535,563
/TABLE
<PAGE>
<TABLE>
Exhibit A page 2 of 16
DOMINION RESOURCES, INC. CONSOLIDATING STATEMENT OF RETAINED EARNINGS
YEAR-TO-DATE ENDED DECEMBER 31, 1998
(thousands)
<CAPTION>
CONSOLIDATED
DRI HOLDING VIRGINIA INTERCO. DRI
COMPANY DCI DEI POWER ELIM. CONSOLIDATED
<S> <C> <C> <C> <C> <C> <C>
Retained Earnings at
January 1, 1998 $1,361,191 $51,539 $49,190 $1,361,765 ($1,469,649) $1,354,036
Net Income 535,563 58,692 57,126 194,090 (309,908) 535,563
Dividends and other adjustments (504,556) (54,590) (48,133) (377,408) 481,510 (503,177)
Retained Earnings at
December 31, 1998 $1,392,198 $55,641 $58,183 $1,178,447 ($1,298,047) $1,386,422
/TABLE
<PAGE>
<TABLE>
Exhibit A page 3 of 16
DOMINION RESOURCES, INC., CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1998 (thousands)
<CAPTION>
CONSOLIDATED
DRI HOLDING VIRGINIA INTERCO. DRI
ASSETS COMPANY DCI DEI POWER ELIMIN. CONSOLIDATED
<S> <C> <C> <C> <C> <C> <C>
Current
Cash $323 $106,104 $118,623 $27,584 $252,634
Temporary investments 150,931 22,000 172,931
Trading securities 772 772
Customer accounts receivable, net 492,551 492,551
Other accounts receivable 9,999 11,339 166,417 76,163 (7,479) 256,439
Accrued unbilled revenues 285,292 285,292
Accrued taxes 922 5,229 680 6,831
Materials & supplies:
Plant and general 141,972 141,972
Fossil fuel 95,041 95,041
Mortgage loans in warehouse 140,348 140,348
Notes receivable 1,633 2,323 3,956
Deferred income taxes 54,442 54,442
Commodity contract assets 179,754 179,754
Other 11,127 62,311 38,070 95,458 (4,630) 202,336
173,302 322,507 330,662 1,470,257 (11,429) 2,285,299
Investments
Investment in affiliates and
partnerships 5,119,882 203,278 140,336 (5,081,405) 382,091
Inter-company advances 446,533 (446,533) 0
Available for sale securities 500,043 500,043
Nuclear decommissioning trust funds 705,134 705,134
Loans receivable 1,686,548 1,686,548
Notes receivable 16,234 15,168 31,402
Investment in real estate 93,926 93,926
Other 1,571 88,815 95,470 45,598 231,454
5,567,986 2,588,844 250,974 750,732(5,527,938) 3,630,598
Property, Plant and Equipment
Utility plant & nuclear fuel 16,023,569 16,023,569
Nonutility property 41,332 52,589 1,990,865 (2,398) 2,082,388
Less accumulated depreciation
and amortization 14,825 16,665 496,200 6,941,627 7,469,317
26,507 35,924 1,494,665 9,081,942 (2,398) 10,636,640
/TABLE
<PAGE>
<TABLE>
Exhibit A page 4 of 16
DOMINION RESOURCES, INC., CONSOLIDATING BALANCE SHEET, DECEMBER 31, 1998 (thousands)
<CAPTION>
CONSOLIDATED
DRI HOLDING VIRGINIA INTERCO. DRI
ASSETS COMPANY DCI DEI POWER ELIMIN. CONSOLIDATED
<S> <C> <C> <C> <C> <C> <C>
Deferred Charges & Other Assets
Regulatory assets 620,056 620,056
Goodwill 39,229 82,523 28,209 149,961
Commodity contract assets 17,473 17,473
Unamortized debt issuance cost 15,181 28,479 43,660
Other 3,034 83,739 50,687 16,015 (20,127) 133,348
57,444 166,262 78,896 682,023 (20,127) 964,498
TOTAL ASSETS $5,825,239 $3,113,537 $2,155,197 $11,984,954 ($5,561,892) $17,517,035
</TABLE>
<PAGE>
<TABLE>
Exhibit A page 5 of 16
DOMINION RESOURCES, INC., CONSOLIDATING BALANCE SHEET, DECEMBER 31, 1998 (thousands)
<CAPTION>
CONSOLIDATED
DRI
LIABILITIES AND HOLDING VIRGINIA INTERCO. DRI
STOCKHOLDERS' EQUITY COMPANY DCI DEI POWER ELIMIN. CONSOLIDATED
<S> <C> <C> <C> <C> <C> <C>
Current
Securities due within one year $1,265 $1,298,546 $2,486 $320,984 $1,623,281
Short-term debt 0 79,134 221,714 300,848
Accounts payable, trade 15,602 8,018 115,867 566,534 (7,479) 698,542
Accrued interest 734 12,878 7,509 93,784 (5,811) 109,094
Accrued taxes 117,918 9,336 48,093 175,347
Customer deposits 45,868 45,868
Commodity contract liabilities 265,844 265,844
Accrued payroll 79,001 79,001
Other 25,862 20,842 43,754 132,795 (2,436) 220,817
161,381 1,340,284 258,086 1,774,617 (15,726) 3,518,642
Long-Term Debt
Inter-company borrowings 315,405 131,128 (446,533) 0
Virginia Power 3,464,719 3,464,719
Dominion U.K. 55,610 55,610
Nonrecourse-nonregulated 17,326 712,800 817,298 1,547,424
Other 3,098 3,098
76,034 1,028,205 948,426 3,464,719 (446,533) 5,070,851
Deferred Credits & Other Liabilities
Deferred income taxes 12,090 82,284 133,182 1,563,645 1,330 1,792,531
Investment tax credits 221,433 221,433
Capital lease, noncurrent 25,701 (18,661) 7,040
Commodity contract liabilities 16,347 16,347
Other 4,066 7,189 18,024 161,737 (1,649) 189,367
16,156 89,473 151,206 1,988,863 (18,980) 2,226,718
Minority interest 4,082 306,836 310,918
Preferred Stock Subject
To Mandatory Redemption 180,000 180,000
Preferred Stock Not Subject
To Mandatory Redemption 509,014 509,014
Preferred Securities
of Subsidiary Trusts 250,000 135,000 385,000
</TABLE>
<PAGE>
<TABLE>
Exhibit A page 6 of 16
DOMINION RESOURCES, INC., CONSOLIDATING BALANCE SHEET, DECEMBER 31, 1998 (thousands)
<CAPTION>
CONSOLIDATED
DRI
LIABILITIES AND HOLDING VIRGINIA INTERCO. DRI
STOCKHOLDERS' EQUITY COMPANY DCI DEI POWER ELIMIN. CONSOLIDATED
<S> <C> <C> <C> <C> <C> <C>
Stockholders' Equity
Common stock 3,933,348 8 208 2,737,407 (2,737,623) 3,933,348
Other paid-in capital 16,226 593,533 456,371 16,887 (1,066,791) 16,226
Accumulated other
comprehensive income (20,104) 2,311 (24,119) 21,808 (20,104)
Retained earnings 1,392,198 55,641 58,183 1,178,447 (1,298,047) 1,386,422
5,321,668 651,493 490,643 3,932,741 (5,080,653) 5,315,892
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $5,825,239 $3,113,537 $2,155,197 $11,984,954 ($5,561,892) $17,517,035
</TABLE>
<PAGE>
<TABLE>
Exhibit A page 7 of 16
DOMINION RESOURCES, INC. HOLDING COMPANY
CONSOLIDATING STATEMENT OF INCOME
YEAR-TO-DATE ENDED DECEMBER 31, 1998
($thousands)
<CAPTION>
CONSOLIDATED
DRI DRI
HOLDING DOMINION INTERCO. HOLDING
COMPANY UK ELIM. COMPANY
<S> <C> <C> <C> <C>
OPERATING REVENUES AND INCOME
East Midlands $1,009,471 $1,009,471
Nonutility 0
Total operating revenues and income - 1,009,471 - 1,009,471
OPERATING EXPENSES
Supply and distribution - East Midlands 654,894 654,894
Other operation and maintenance 8,059 158,315 166,374
Depreciation, depletion & amortization 2,599 79,221 81,820
Other taxes 1,025 1,025
Total operating expenses 11,683 892,430 - 904,113
Operating income (11,683) 117,041 - 105,358
OTHER INCOME AND EXPENSES
Gain on sale of East Midlands (32,074) 364,414 332,340
Other 33,684 49,527 (15,186) 68,025
Total other income 1,610 413,941 (15,186) 400,365
Income before fixed charges, income taxes,
and minority interests (10,073) 530,982 (15,186) 505,723
FIXED CHARGES
Interest charges, net 35,533 108,870 (15,186) 129,217
Distributions-pref. securities
of sub. trust 18,462 18,462
Total fixed charges 53,995 108,870 (15,186) 147,679
</TABLE>
<PAGE>
<TABLE>
Exhibit A page 8 of 16
DOMINION RESOURCES, INC. HOLDING COMPANY
CONSOLIDATING STATEMENT OF INCOME
YEAR-TO-DATE ENDED DECEMBER 31, 1998
($thousands)
<CAPTION>
DRI CONSOLIDATED
HOLDING DOMINION INTERCO. DRI HOLDING
COMPANY UK ELIM. COMPANY
<S> <C> <C> <C> <C>
Income before provision for
income taxes & minority interests (64,068) 422,112 - 358,044
Provision for income taxes 6,728 124,035 130,763
Minority interests 1,626 1,626
Net income ($70,796) $296,451 $0 $225,655
Retained Earnings at
January 1, 1998 $1,360,384 ($116,644) $117,451 $1,361,191
Net Income 535,563 296,451 (296,451) 535,563
Dividends and other adjustments (504,556) (241,991) 241,991 (504,556)
Retained Earnings at
December 31, 1998 $1,391,391 ($62,184) $62,991 $1,392,198
</TABLE>
<PAGE>
<TABLE>
Exhibit A page 9 of 16
DOMINION RESOURCES, INC. HOLDING COMPANY
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1998
(thousands)
<CAPTION>
CONSOLIDATED
DRI DRI
HOLDING DOMINION INTERCO. HOLDING
ASSETS COMPANY UK ELIMIN. COMPANY
<S> <C> <C> <C> <C>
Current
Cash $275 $48 $323
Temporary investments 70,404 80,527 150,931
Other accounts receivable 47,814 1,102 (38,917) 9,999
Accrued taxes 922 922
Deferred income taxes 0
Other 16,588 (5,461) 11,127
135,081 82,599 (44,378) 173,302
Investments
Investment in affiliates
and partnerships 5,045,910 38,477 35,495 5,119,882
Inter-company advances 446,533 860 (860) 446,533
Other 1,571 1,571
5,494,014 39,337 34,635 5,567,986
Property, Plant and Equipment
Nonutility property 41,332 41,332
Less accumulated depreciation
and amortization 14,825 14,825
26,507 0 0 26,507
Deferred Charges & Other Assets
Goodwill 39,229 39,229
Unamortized debt issuance cost 15,181 15,181
Other 3,034 3,034
18,215 39,229 0 57,444
TOTAL ASSETS $5,673,817 $161,165 ($9,743) $5,825,239
</TABLE>
<PAGE>
<TABLE>
Exhibit A page 10 of 16
DOMINION RESOURCES, INC. HOLDING COMPANY
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1998
(thousands)
<CAPTION>
DRI CONSOLIDATED
LIABILITIES AND HOLDING DOMINION INTERCO. DRI HOLDING
STOCKHOLDERS' EQUITY COMPANY UK ELIMIN. COMPANY
<S> <C> <C> <C> <C>
Current
Securities due within one year $1,265 $1,265
Accounts payable, trade 16,923 23,700 (25,021) 15,602
Accrued interest 1,682 734 (1,682) 734
Accrued taxes 27,974 89,944 117,918
Other 24,393 6,108 (4,639) 25,862
72,237 120,486 (31,342) 161,381
Long-Term Debt
Dominion U.K. 55,610 55,610
Nonrecourse-nonregulated 17,326 17,326
Other 3,098 3,098
20,424 55,610 0 76,034
Deferred Credits and Other Liabilities
Deferred income taxes 5,422 6,668 12,090
Other 4,066 4,066
9,488 6,668 0 16,156
Preferred Securities of Subsidiary Trust 250,000 250,000
Stockholders' Equity
Common stock 3,933,348 3,933,348
Other paid-in capital 16,226 38,881 (38,881) 16,226
Accumulated other comprehensive income (20,104) 1,704 (1,704) (20,104)
Retained earnings 1,392,198 (62,184) 62,184 1,392,198
5,321,668 (21,599) 21,599 5,321,668
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $5,673,817 $161,165 ($9,743) $5,825,239
</TABLE>
<PAGE>
<TABLE>
Exhibit A page 11 of 16
DOMINION ENERGY, INC.
CONSOLIDATING INCOME STATEMENT
YEAR-TO-DATE ENDED DECEMBER 31, 1998
(thousands)
<CAPTION>
COMBINED COMBINED COMBINED CONSOLIDATED
DOMINION DOMESTIC FOREIGN OIL AND DOMINION
ENERGY COGEN COGEN GAS ELIMINATIONS ENERGY
<S> <C> <C> <C> <C> <C> <C>
Revenues: $78,132 $81,972 $132,460 $164,361 $(73,955) $382,970
78,132 81,972 132,460 164,361 (73,955) 382,970
Operating Expenses:
Operating expenses 18,787 43,142 62,432 (940) 123,421
Contractual services 1,217 1,982 906 4,105
Administrative and general 20,556 13,765 11,318 17,432 63,071
Depreciation and amortization 719 4,793 25,597 59,649 90,758
Total Operating Expenses 22,492 39,327 80,963 139,513 (940) 281,355
Operating Income 55,640 42,645 51,497 24,848 (73,015) 101,615
Other Income (Expenses):
Interest charges (27,032) (11,285) (14,005) (15,454) 20,989 (46,787)
Other income 18,526 11,468 13,876 3,139 (19,842) 27,167
Other expenses -
Other taxes (652) (1,546) (3,966) (5,666) (11,830)
(9,158) (1,363) (4,095) (17,981) 1,147 (31,450)
Income before provision for income taxes 46,482 41,282 47,402 6,867 (71,868) 70,165
Provision for income taxes (10,644) 15,293 4,921 (22,289) (12,719)
Minority interest 228 20,487 176 4,867 25,758
Net income $57,126 $25,761 $21,994 $28,980 $(76,735) $57,126
Retained earnings at Jan 1, 1998 $49,190 $17,000 $60,297 $121,373 $(198,670) $49,190
Net income 57,126 25,761 21,994 28,980 (76,735) 57,126
Dividends (47,906) (6,125) (20,455) 26,580 (47,906)
Other (227) (565) 80,301 (79,736) (227)
Retained earnings at Dec 31, 1998 $58,183 $36,071 $162,592 $129,898 $(328,561) $58,183
</TABLE>
<PAGE>
<TABLE>
Exhibit A page 12 of 16
DOMINION ENERGY, INC.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1998
(thousands)
<CAPTION>
COMBINED COMBINED COMBINED CONSOLIDATED
DOMINION DOMESTIC FOREIGN OIL AND DOMINION
ASSETS ENERGY COGEN COGEN GAS ELIM. ENERGY
<S> <C> <C> <C> <C> <C> <C>
Current Assets
Cash and cash equivalents $8,677 $(265) $102,722 $7,489 $118,623
Accounts receivable 22,451 22,837 30,440 118,555 (20,314) 173,969
Natural gas advances 6,294 6,294
Inventory 3,304 8,375 3,722 15,401
Other 5,455 1,052 6,156 5,861 (2,149) 16,375
36,583 26,928 147,693 141,921 (22,463) 330,662
Investments
Investment in subsidiaries 652,199 - - - (652,199)
Investment in unconsolidated entities 82,617 39,922 - 17,797 140,336
Intercompany advances 220,267 33,275 7,520 (245,894) 15,168
Other 182 60,155 33,851 1,282 95,470
955,265 133,352 33,851 26,599 (898,093) 250,974
Properties, Plant and Equipment 1,864 273,405 931,501 784,095 1,990,865
Less: accumulated dep, depl and amort 770 4,501 255,112 235,817 496,200
1,094 268,904 676,389 548,278 1,494,665
Deferred Charges and Other Assets
Other 9,525 7,105 39,264 23,002 78,896
9,525 7,105 39,264 23,002 78,896
Total assets $1,002,467 $436,289 $897,197 $739,800 $(920,556) $2,155,197
</TABLE>
<PAGE>
<TABLE>
Exhibit A page 13 of 16
DOMINION ENERGY, INC.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1998
(thousands)
<CAPTION>
COMBINED COMBINED COMBINED CONSOLIDATED
DOMINION DOMESTIC FOREIGN OIL AND DOMINION
LIABILITIES ENERGY COGEN COGEN GAS ELIM. ENERGY
<S> <C> <C> <C> <C> <C> <C>
Current Liabilities
Accounts payable 2,361 11,462 3,980 100,465 (2,401) 115,867
Short-term debt 97,136 (18,002) 79,134
Securities due within one year 2,486 2,486
Accrued interest 4,810 1,013 4,620 519 (3,453) 7,509
Accrued taxes (4,740) 3,440 11,639 (1,003) 9,336
Other 4,958 25,644 7,419 5,733 43,754
7,389 41,559 127,280 105,714 (23,856) 258,086
Long-term Debt
Intercompany borrowings 169,780 (7,876) 38,055 192,054 (260,646) 131,367
Other 290,000 265,000 120,337 141,722 817,059
459,780 257,124 158,392 333,776 (260,646) 948,426
Deferred Credits and Other Liab
Deferred income taxes 44,284 13,125 (6,304) 82,077 133,182
Other 371 1,473 515 15,665 18,024
44,655 14,598 (5,789) 97,742 151,206
Total liabilities 511,824 313,281 279,883 537,232 (284,502) 1,357,718
Minority interest 208 289,592 1,100 15,936 306,836
COMMON STOCKHOLDER'S EQUITY
Common stock 208 35,013 159,059 (194,072) 208
Partner's capital 27,207 (27,207)
Other paid-in capital 456,371 24,509 16,132 72,439 (113,080) 456,371
Valuation allowance (489) (489) 489 (489)
Translation adjustments (23,630) (10,061) (380) 10,441 (23,630)
Retained earnings 58,183 36,071 162,592 129,898 (328,561) 58,183
Total Common Stockholder's Equity 490,643 122,800 327,722 201,468 (651,990) 490,643
Total Liab. & Stockholder's Equity $1,002,467 $436,289 $897,197 $739,800 $(920,556) $2,155,197
/TABLE
<PAGE>
<TABLE>
Exhibit A page 14 of 16
DOMINION CAPITAL, INC.
CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 1998
(In thousands)
<CAPTION>
Financial Real Estate & DCI
Services Vidalia Consolidated
<S> <C> <C> <C>
ASSETS:
Cash and Equivalents $105,253 $850 $106,103
Interest and Dividends Receivable 24,905 13,373 38,278
Income Tax Benefit 23,305 (3,104) 20,201
Short Term Marketable Securities 772 0 772
Mortgage Loans 140,348 0 140,348
Other 10,716 6,089 16,805
Current Assets 305,299 17,208 322,507
Investment in Available for Sale Securities 500,044 0 500,044
Loans Receivable 1,686,548 0 1,686,548
Inv In Real Estate 27,625 66,301 93,926
Other 110,216 198,110 308,326
Investments 2,324,433 264,411 2,588,844
Property, Plant and Equipment 28,386 24,203 52,589
Accum Deprec PP&E (11,169) (5,496) (16,665)
Net Property, Plant and Equipment 17,217 18,707 35,924
Deferred Charges and Other Assets 163,411 2,851 166,262
Total Assets $2,810,360 $303,177 $3,113,537
</TABLE>
<PAGE>
<TABLE>
Exhibit A page 15 of 16
DOMINION CAPITAL, INC.
CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 1998
(In thousands)
<CAPTION>
Financial Real Estate & DCI
Services Vidalia Consolidated
<S> <C> <C> <C>
LIABILITIES & SHAREHOLDERS' EQUITY:
Current Portion of Long Term Debt $1,298,523 $23 $1,298,546
Accrued Interest Payable 10,099 2,779 12,878
Other 24,603 4,257 28,860
Total Current Liabilities 1,333,225 7,059 1,340,284
Borrowings - Intercompany 482,886 (167,481) 315,405
Other 317,359 395,441 712,800
Long Term Debt 800,245 227,960 1,028,205
Deferred Income Taxes 37,842 44,442 82,284
Other 8,421 2,850 11,271
Deferred Credits & Other Liabilities 46,263 47,292 93,555
Total Liabilities 2,179,733 282,311 2,462,044
Common Stock 8 (0) 8
Paid In Capital 542,466 51,067 593,533
Allowance on Marketable Securities 2,311 0 2,311
Retained Earnings 85,842 (30,201) 55,641
Total Shareholder's Equity 630,627 20,866 651,493
Total Liabilities & Shareholder's Equity $2,810,360 $303,177 $3,113,537
</TABLE>
<PAGE>
<TABLE>
Exhibit A page 16 of 16
DOMINION CAPITAL, INC.
CONSOLIDATING STATEMENTS OF INCOME
YEAR TO DATE DECEMBER 1998
(In thousands)
<CAPTION>
Financial Real Estate & DCI
Services Vidalia Consolidated
<S> <C> <C> <C>
Operating Revenues and Income $375,238 $33,904 $409,142
Expenses:
Interest Charges 104,858 16,291 121,149
Real Estate Operations 0 8,742 8,742
Cost of Sales 1,592 21,388 22,980
Depreciation & Amortization 24,470 753 25,223
Administrative and General 137,082 4,659 141,741
Total Expenses 268,002 51,833 319,835
Income Before Provision
For Income Taxes 107,236 (17,929) 89,307
Provision for Income Taxes 38,715 (8,100) 30,615
Net Income (Loss) $68,521 ($9,829) $58,692
Retained Earnings at Beg of Year $71,911 ($20,372) $51,539
Net Income (Loss) 68,521 (9,829) 58,692
Dividends Paid (54,590) 0 (54,590)
Retained Earnings at End of Year $85,842 ($30,201) $55,641
</TABLE>
<PAGE>
EXHIBIT B. Financial Data Schedule
If, at the time a report on this form is filed, the registrant is required to
submit this report and any amendments thereto electronically via EDGAR, the
registrant shall furnish a Financial Data Schedule. The Schedule shall set
forth the financial and other data specified below that are applicable to
the registrant on a consolidated basis.
Item No. Caption Heading Amount
(Millions)
1 Total Assets $17,517.0
2 Total Operating Revenue 6,086.2
3 Net Income 535.6
<PAGE>
EXHIBIT C
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
ORGANIZATIONAL CHART
DOMINION RESOURCES, INC.
DOMINION ENERGY, INC. 100%
Dominion Energy Services Company, Inc. 100%
Dominion Energy Central America, Inc. 100%
Belize Electric Company Limited 95%
Dominion Energy Interamerican Holding Company LDC 100%
DEI Holding Cayman Company Limited 100%
DEI Interamerican Holding Company Limited 100%
DEI Cayman Holding Company 100%
Dominion Energy Holding Cayman Company LDC 99%
Dominion Generating S.A. 100%
Patagonia Holding S.A. 100%
Hidroelectrica Cerros Colorados S.A. 98%
A.V. Holding S.A. 60%
Central Termica Alto Valle S.A. 90%
Dominion Management Argentina S.A. 100%
Inversiones Dominion Bolivia S.A. 100%
Empresa Electrica Corani S.A. 50%
Dominion Energy Peru Holdings, Inc. 100%
Dominion Holdings Peru S.A.C. 100%
Inversiones Dominion Peru S.A. 51%
EGENOR S.A. 60%
Dominion Kincaid, Inc. 100%
Kincaid Generation, L.L.C. 99%
(Other 1% owned by Dominion Energy, Inc.)
DOMINION U.K. HOLDING, INC. 100%
Corby Power Ltd 80%
