RICHMOND, Va., Feb. 25 /PRNewswire-FirstCall/ -- Thomas F. Farrell II, chairman, president and chief executive officer of Dominion , has renewed his warning that the nation could be heading toward an "energy train wreck" if it does not adopt a strong national energy policy grounded in economic realism, common sense and market principles.
Farrell called for a national policy that integrates both the supply and demand sides of the nation's energy equation. He also called for a long-term policy framework that addresses climate change, which he described as "a long- term challenge."
Farrell spoke to the Clean Energy Task Force of the National Governors Association in Washington on Feb. 23.
Farrell said, "We can have a cleaner, more secure energy future. It can be done. It will be done. But it is going to take time, a great deal of money and close cooperation between government, industry and the consuming public."
Farrell also outlined Dominion's integrated strategy for meeting growing energy demand in its home state of Virginia, where the company is adding nearly 50,000 new electric customers annually. Demand growth in Virginia over the next decade is expected to require more than 4,000 megawatts of new electric generating capacity, the equivalent of adding 1 million homes.
The speech is available on Dominion's Web site (http://www.dom.com/).
Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 26,500 megawatts of generation, 1.1 trillion cubic feet equivalent of proved natural gas and oil reserves and 14,000 miles of natural gas transmission, gathering and storage pipeline. Dominion also owns the nation's largest underground natural gas storage system and operates more than 975 billion cubic feet of storage capacity and serves retail energy customers in 11 states. For more information about Dominion, visit the company's Web site at http://www.dom.com/.
