Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: BigBull who wrote (45431)	5/25/1999 5:49:00 PM
From: BigBull	Read Replies (3) \| Respond to of 95453

Douglas, this is more confirmation that Nat Gas will be used to fuel new power plants being built. Energy News Tue, 25 May 1999, 5:44pm EDT Dominion Resources to Spend $800 Mln to Build Power Plants Dominion Resources to Spend $800 Mln to Build Power Plants Richmond, Virginia, May 25 (Bloomberg) -- Dominion Resources Inc., which is buying Consolidated Natural Gas Co., said the two companies plan to spend as much as $800 million to build power plants in West Virginia, Ohio and Pennsylvania. Dominion, owner of Virginia's largest utility, agreed this month to buy Consolidated for about $9 billion in stock, cash and assumed debt. Dominion was the winner of a bidding war for the gas company waged against Columbia Energy Group. Dominion plans to sell power to Consolidated's gas customers in Virginia and elsewhere. Dominion and Consolidated agreed to build natural gas-fired power plants along Consolidated's pipeline system. The companies plan to spend $400 million to build two 600- megawatt plants in Ohio; $200 million for a 300-megawatt to 600- megawatt plant in Pennsylvania; and up to $200 million on a plant in West Virginia. The four plants would generate enough power to light as many as 2.4 million homes. Richmond, Virginia-based Dominion owns Virginia Electric & Power Co., which has 2 million electricity customers in Virginia and North Carolina. Pittsburgh-based Consolidated owns four gas utilities with 1.9 million customers in Pennsylvania, Ohio, Virginia, and West Virginia. -------------------------------------------------------------------------------- © Copyright 1999, Bloomberg L.P. All Rights Reserved.