Trystan Casey
The Virginia Electric and Power Company, also known as Dominion, is an electric power company that was organized in 1909 and initially served Richmond, Virginia. The company expanded its business into northeastern North Carolina in the 1920s and continued to grow its revenue and customer base over time. Dominion became a Fortune 500 company and its subsidiary, North Carolina Power, provided electricity to over 94,000 customers in the state by 1991. Today, Dominion Energy Virginia is one of the investor-owned electric companies regulated by the SCC in Virginia.
| Characteristics | Values |
|---|---|
| Name | Virginia Electric & Power Company |
| Organized | 1909 |
| Initial Business | Owned and operated electric street railways and streetlights in Richmond, Virginia |
| Business Expansion | Northeastern North Carolina in the 1920s |
| Business Performance | Long-term growth in revenue and customers |
| Holding Company | Dominion Resources, Inc. |
| Year of Creation of Holding Company | 1983 |
| Holding Company's Subsidiary | Virginia Power, also known as VEPCO |
| Holding Company's Performance | Became a Fortune 500 company |
| Division | North Carolina Power |
| Annual Sales | More than $140 million in 1991 |
| Number of Customers | More than 94,000 |
| Regulated by | SCC |
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What You'll Learn
History of Virginia Electric and Power Company
The Virginia Electric and Power Company, now known as Dominion Virginia Power, was formed in 1909 and initially owned and operated electric street railways and streetlights in Richmond, Virginia. In 1925, the company changed its name to Virginia Electric and Power Company (VEPCO) when its two principal subsidiaries, the Spotsylvania Power Company of Fredericksburg and the Virginia Railway and Power Company, merged.
In the 1920s, the company expanded its business into northeastern North Carolina. By 1928, it operated approximately 30 miles of electric distribution lines in the state, all near the Virginia border. By 1950, the company served about 30,000 North Carolina customers through more than 2,000 miles of distribution lines. In the 1950s and 1960s, Virginia Power further expanded its North Carolina operations.
In 1980, VEPCO began branding itself as "Virginia Power," while its North Carolina operations were branded as "North Carolina Power." In 1983, Dominion Resources, Inc. was created as a holding company, with Virginia Power operating as its electric power subsidiary. During the same period, Dominion became a Fortune 500 company. In 1985, Dominion split its distribution operations into two operating companies: Virginia Power and North Carolina Power.
In 2000, Dominion merged with Consolidated Natural Gas of Pittsburgh, Pennsylvania, and re-branded all of its operations under the Dominion name. In 2017, Dominion Resources rebranded itself as Dominion Energy, and in 2022, the company's total electric production included coal, nuclear power, natural gas, and hydro and other renewables.
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Dominion Resources, Inc
Virginia Power is a regulated public utility that generates, transmits, and distributes electricity for sale in Virginia and northeastern North Carolina. In the 1920s, the company expanded into northeastern North Carolina, and by 1928, it operated approximately 30 miles of electric distribution lines in the state. Despite setbacks after 1970, Virginia Power remained a leading utility in the state. In 1980, the company began branding itself as "Virginia Power," while its North Carolina operations were branded as "North Carolina Power."
CNG operates in all phases of the natural gas business, including exploration, production, and marketing. It serves customers in Pennsylvania, Ohio, and West Virginia, among other states. Dominion has generation facilities in several states, including Indiana, Illinois, Connecticut, and Rhode Island. The company also has a significant presence in the "MAIN to Maine" region, which includes the Mid-America Interconnected Network (MAIN) and stretches through the Mid-Atlantic and Northeast regions of the United States.
Dominion has made several acquisitions and expansions over the years. In 1986, it expanded into Northern Virginia by purchasing the distribution territory of Potomac Electric Power Company (PEPCO). In 2005, Dominion acquired three electric power generation facilities from USGen for $642 million. In 2016, the company acquired Questar Corporation, expanding its presence into parts of Utah and Wyoming. In 2017, Dominion Resources rebranded itself as Dominion Energy and launched a grid transformation program in 2018 to focus on renewable energy sources, including wind and solar energy.
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North Carolina Power
The Virginia Electric & Power Company, also known as VEPCO, began operating in North Carolina in the 1920s. By 1928, the company had expanded its business into northeastern North Carolina and operated approximately 30 miles of electric distribution lines in the state.
In 1983, Dominion Resources, Inc. was established as a holding company, with VEPCO as its electric power subsidiary. During this time, Dominion became a Fortune 500 company, and the North Carolina utility began operating as North Carolina Power.
North Carolina has over 70 public power communities, served by ElectriCities of NC, a non-profit membership organisation of municipally owned electric utilities. ElectriCities works with its member communities to identify economic development opportunities and provide career development and training.
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Appalachian Power Company
The Appalachian Power Company, also known as APCO, was founded in 1910 by a group of entrepreneurs who aimed to harness the power of the New River in Virginia by constructing hydroelectric dams. These dams would generate electricity for the coalfields of southern West Virginia. Two dams were built in Virginia, along with an 88,000-volt transmission line to carry electricity across the mountains to West Virginia. This marked the beginning of the company's journey towards bringing electricity to the region.
During the early 1920s, the American Electric Power company, then known as the American Gas & Electric Power Company, started acquiring smaller companies across multiple states, including West Virginia. In 1926, Appalachian Power, along with eleven other companies, was consolidated into a new subsidiary called Appalachian Electric Power. This period witnessed the company's construction crews tirelessly working to string transmission lines across southern West Virginia, often living in camps, sleeping in tents, and relying on chuck wagons for their meals.
As the company continued to grow, so did its need to expand its generating capacity. In the late 1940s and early 1950s, Appalachian Power Company joined forces with the Ohio Power Company to construct the Philip Sporn Plant on the Ohio River in Mason County. This collaboration was followed by the construction of additional coal-fired power plants. The company played a pivotal role in utilizing West Virginia coal to generate electricity, a process dubbed "coal by wire."
In 1958, the company underwent a corporate reorganization, leading to a name change back to the Appalachian Power Company, or APCO. However, in 1996, the venerable corporate name was retired when its parent company, American Electric Power, standardized its corporate identity. The company regained its name in 2004, continuing to operate as a part of the American Electric Power group. Today, the Appalachian Power Company is one of the many companies under the AEP umbrella, which also includes Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and the Southwestern Electric Power Company.
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Kentucky Utilities
KU is currently owned by LG&E and KU Energy, LLC, which is a subsidiary of the PPL Corporation. This parent company also owns Louisville Gas & Electric. Kentucky Utilities has had several different owners throughout its history, including British utility company Powergen, which acquired it in 2000, and German utility company E.ON, which bought Powergen in 2003. E.ON then sold the company to PPL Corporation in 2010, leading to the formation of LG&E and KU Energy.
KU's facilities include the E. W. Brown Power Station, a coal-fired generating station near Burgin, Kentucky, and the "Ice House", a 4-story structure in Lexington that was used for cold storage when ice was part of the company's portfolio of offerings. The company also operates Electric Distribution Operations Centers, Service Centers, and Storerooms across its service territory.
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Frequently asked questions
The Virginia Electric and Power Company, also known as Dominion, is a utility service company that provides electricity generation, transmission, and distribution.
The Virginia Electric and Power Company was founded in 1909 and initially owned and operated electric street railways and streetlights in Richmond, Virginia.
The company operates in Virginia and northeastern North Carolina.
Virginia Power, also known as VEPCO, is the electric power subsidiary of Dominion Resources, Inc.
