Dominion to sell three fossil-fired merchant power stations
Dominion intends to pursue the sale of three fossil fuel-fired merchant power stations, one in Massachusetts and two in Illinois
Richmond, Va., September 6, 2012 — Dominion intends to pursue the sale of three fossil fuel-fired merchant power stations, one in Massachusetts and two in Illinois.
·Brayton Point Power Station, a 1,536-MW power station in Somerset, Mass., with three coal-fired units and one unit fired by oil or natural gas. Dominion has owned it since 2005.
·Kincaid Power Station, a 1,158-MW power station in Kincaid, Ill., with two 579-MW coal-fired units. Dominion has owned Kincaid since 1998. And
·Elwood Power Station, a 1,424-MW power station outside Chicago, with nine 158-MW natural gas-fired combustion turbines. Dominion has owned a 50 percent interest in and operated the station since Elwood became operational in 1999.
The sales are expected to be completed in the first half of 2013. The company plans to invest the proceeds in growth of the company's regulated businesses and reduce debt needs.