Download - ODEC Annual Report 2006
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Table of Contents
1Financial and Operational Highlights
A brief financial recap of what we accomplished in 2006
2Executive Letter
An overview of the major events of 2006
6 Strength in Our Structure
The building blocks for a solid foundation
7 It Begins with a Spark
It’s all about the spark that ignites inside each ODEC employee that defines our success
22Board of Directors
The architects of our growth
24Report of Management
Summary of management’s responsibilities for the consolidated financial statements and internal controls
25Securities and Exchange Commission Annual Report on Form 10-K
2006 ODEC Annual Report
Back CoverMember Distribution Cooperatives’ Service Territories
Map showing the individual service areas of ODEC member distribution cooperatives
ODEC is a not-for-profit wholesale power supply cooperative whose mission is to provide reliable wholesale electric service in a
cost-effective, environmentally sensitive manner to its member distribution cooperatives who serve
member-owners in Virginia, Delaware, Maryland and a small portion of West Virginia.
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Financial and Operational Highlights
one
2006 2005 2004 2003 2002
MarginsforInterestRatio 1.39 1.22 1.25 1.31 1.20
EquityRatio 26.5% 24.6% 23.3% 22.1% 23.9%
EmbeddedDebtCost 6.5% 6.5% 6.4% 6.7% 7.4%
SalestoMembers(MWh) 11,026,284 11,191,729 10,518,241 9,716,029 9,835,412
CosttoClassAMembers(perMWh) 67.70 58.71 53.68 52.64 49.71
CloverCapacityFactor 91.1% 83.7% 87.2% 84.0% 82.4%
NorthAnnaCapacityFactor 94.0% 95.6% 91.5% 85.5% 84.7%
CombustionTurbineFacilitiesAvailabilityFactor 94.7% 97.1% 94.6% 96.5% –
Disposition of Revenue Dollars
(inthousands) %
PurchasedPowerandDeferredEnergy $470,461 57.5%
Operations 220,984 27.0%
Depreciation,Amortization,andAccretion 43,877 5.4%
Interest 60,949 7.5%
Margins 21,244 2.6%
TotalRevenue $817,515 100.0%
Members’ Revenue Base
(inthousands) %
ResidentialRevenue $784,871 69.4%
Commercial&Industrial-SmallRevenue 187,565 16.6%
Commercial&Industrial-LargeRevenue 130,598 11.6%
OtherRevenue 27,677 2.4%
TotalRevenue $1,130,711 100.0%
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We are an electric cooperative by design.
ItwastheunanimousintentofthefoundersandmembersthatOldDominionElectricCooperative
(ODEC)beformedasagenerationandtransmission(G&T)cooperativetoprovideelectricpowerfortheaggregatedneeds
ofourmemberdistributioncooperatives.BeingaG&Telectriccooperativeisourbusinessmodel.
Itisourpurpose.Itiswhatwascreated,anditiswhoweare.
Being a generation and transmission cooperative.
BeingaG&Tcooperativemeansthatofallthebusinessmodelsavailable,wechoosethecooperativebusinessstructure.
Webelievein,operateunderandsupportthesevencooperativeprincipleslistedbelow.
Voluntary and Open Membership
Democratic Member Control
Members’ Economic Participation
Autonomy and Independence
Education, Training and Information
Cooperation among Cooperatives
Concern for Community
ODEChasanobligationtoensurethatpowerisavailabletoourmemberdistributioncooperatives
(sotheycanservetheirmember-owners)andthattogetherweprovidethispowertothebenefit
ofthoseattheendoftheline…todayandtomorrow.
AsanelectricutilityandaG&T,wehaveacommitmenttoprovidesafe,
reliable,environmentallyresponsiblepower,atthelowestpossiblecost,toourmemberdistributioncooperatives…whorepresentourmarket.Wehaveaccomplishedthismissionforover20years,andweremainfirmlycommittedtothisgoal
forthenext20yearsandbeyond.
Likeanold,well-designedcathedral,whichhasmaintaineditsreverenceandusefulnessthroughoutthedecadesandinto
the21stcentury,weareaseasoned,establishedbusinessmodelthatcontinuestothriveandbringvaluetothoseitserves
inamodernglobaleconomy.
Welcome to Our Home
Executive Letter
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Going about our business.
Wereviewandconfirmourfoundationandmakethechangesnecessary
tomeetourobligations.Twocriticalfactorsdictate
ourfutureandourdecisions–ourbusinessmodelandourmarket.
OurbusinessmodelisthatofaG&T,anelectriccooperative.Cooperativescan
betracedtoEuropehundredsofyearsago.ElectriccooperativesbeganintheUnitedStates
withlegislationpassedbyCongressinthemid-1930s.Beingownedbyourcustomersisanadvantageous
formofbusiness,andthemodelcontinuestoprovebeneficialformember-owners,especiallyintheelectricutilityindustry.
Cooperativesworkwellforthedistributionandgenerationprocessesofelectricity,
andmanyargueitmayultimatelybethebestmodelfortransmission,aswell.
ODECiscommittedtocontinuingasaG&Tandmeetingtheneedsofourmember-owners.
Weareoneorganizationoftwelvememberdistributioncooperativesallcommitted
tothemember-ownersweserve.
Theyearof2006sawmanyactivitiesrelatedtostrengtheningourfoundation.
Thebatonwaspassedfromkeyleadersofthepasttwentyyearstonewleadersforthefuture.
InMay,LisaJohnsonjoinedODECasSeniorVicePresidentofPowerSupply.
RobertKeeswaspromotedfromVicePresidentandControllerto
SeniorVicePresidentandChiefFinancialOfficer.
Theirknowledge,experienceandleadership–whichalsodefineseachandeveryone
ofourdedicatedemployees–willcontinuemovingODECforward
wellintothefuture.
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ODECmemberdistributioncooperativesrecognizedtheneedforfuturesecurityinachangingworldsowebegantheprocessofextendingtheWholesalePowerContract.Aboardcommitteeisintheprocessofstudyingmodificationstothecurrentcontractandshouldcompletethatworkin2007.ThiswillprovideODECwithasolidbasisforfuturefinancialandoperationalgrowthandactivities.
ThegeographicareasoftheCommonwealthofVirginiaandtheDelmarvaPeninsulaservedbythePJMRegionalTransmissionOrganizationdefineourwholesalepowersupplymarket.
Thecharacteristicsofthismarketarehighgrowthrates,highenergycosts,growinggenerationandtransmissionneeds,environmentalconcerns
anddiverseserviceareasfromverysparseruralareastoverydensesuburbs.Eachcharacteristicbringsuniqueconcerns,andthecombinationofallprovidesrichchallenges.
Throughout2006,ODECcontinuedtomeetmarketchallenges.Ourfinancialpositionisstrong.Wehavesuccessfullydefendedattacksagainstourcurrent
WholesalePowerContractandtherelationshipofourmembers.Wehaveconsistentlymaintainedourwholesalepowerratesatlevelsbelowtheavailablewholesaleratesinourmarket.
Wehavesuccessfullyassumedoperationsofournewestgeneratingplants.
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JacksonE.ReasorPresident and CEO
M.JohnsonBowmanChairman of the Board
There is more to do.
WewillcompleteanewWholesalePowerContractthatwillcarryusforwardwellintothefuture.Wemustsuccessfullydoourparttomoveourratesmoreinlinewithotherretailrateswithinour
market.Oureffortstooffermoreenvironmentallyfriendlyenergymustexpand.Significantpowersupplydecisionsforthefuturemustbeginin2007.
ODEChadasolidyearin2006.Wearestrongertodaythaninyearspast.Theyear2007willbeoneofdecisionforusaswecontinuetoadapttomarketlandscapechangesandpreparetomeetour
members’powersupplyneedsofthefuture.
ODECiswell-positionedtomoveforwardsuccessfullywithourstrongfoundationandthesupportofourmemberdistributioncooperativesandourstaff.
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A19th-centuryarchitectputforththetheorythathumansneedtohaveasenseofdwellingandmembership
inanorganizationbeforetheycanbuildaformalstructure.
Atthecenterofthissenseofdwellingisanidea~ a spark igniting into fire ~
theprimaryelementofarchitecture.
Architecture,therefore,becomestheexpressionofsocialinteraction
andofsocietyasawhole.Itisthecreativefunctionthatgrowsoutofa
collectivesocialsensetoprotectourlife-givingfiresfromtheforcesofnature.
Wedothisbybuildingaclayhearthinwhichtoprotectourfire
uponasolidstonefoundationsupportingastrongwoodenroof
andwallsthatprotectthefurnishingswithin–theotherelementsofarchitecture.
AtODECweembodythatsenseofmembershipanddwelling.Thesparkignitesintofireineveryoneofus,
providingnewideastoserveourmemberdistributioncooperatives
inthebestwaythatwecan.
Wenurtureourfiresothatitburnsbrightlythroughoutourentireorganization
–anorganizationbuiltonasolidfoundation,supportingastrongroofthatsheltersallofuswithin.
Thereisstrengthinourstructure.
It’sstrengththatcomesfromourexpertise,passion,innovation,
commitmenttohighethicalstandardsandquietconfidence.
Strength in Our Structure
foundationhearth
roofwalls
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It begins with a spark .
We see it all around us.
It’swithineveryoneofouremployeeseverydayastheyworktogethertomeettheelectricityneedsof
ourmemberdistributioncooperatives.
It’stheirsenseofprideindoingajobwell.
Weseeitintheirpassiontobethebesttheycanbeatwhattheydobest.Weseeitintheirquietconfidenceofknowingthateveryonearoundthemisascommittedtomaintainingthehighestqualityservicestandards–standardsthatcanonlybeachieved
throughdedicationandperseveranceeachandeveryday.
Weseethesparkintheircompassionforeachotherandforourmemberdistributioncooperatives.
Weseeitinthevisionoftheirnextgreatidea.
It’salwaysreadytoigniteinto
f lame.
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Home is Where the Hearth is
TheflameburnsbrightlyintheemployeesofODECandinourtwelvememberdistributioncooperatives.
Wenurtureitandprotectitatalltimesbecauseweknowthatit’scriticalinsuccessfullymeetingourgrowingneeds.
It’sallaboutmakingsureourfireissafeinourhearth.
Ourhomeisinanevolvingmarketandwithevolutioncomesopportunity.
Butonlyifwerecognizeitandembraceit.Thereisopportunityinprovidingreliableserviceto
ourmemberdistributioncooperativesandtheirmember-owners.
There’sopportunityinthewaywegenerate,purchaseandsellelectricity
andinthewaywemanagecosts.
Fuelingourflametokeepitburningbrightlyensuresourstabilityasacompany.
Oursolidfinancialperformanceyearafteryear–afactsupportedbyoursolidratingsfromStandard&Poor’s,
Moody’sInvestorsServiceandFitchRatings–isastrongtestamentto
howstrongourflameburnsinsideeachofus.
That’swhyweguardit.
Ourflamedrivesourabilitytogenerateelectricityefficientlyanddeliveriteconomicallytoourmemberdistributioncooperativessotheycan,inturn,distributeitto
theirmember-ownerswhentheyneeditmost.
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Itlightsourpassionforgivingbacktothecommunityasevidencedbyourbeingthe2006recipientoftheUnitedTelecomCouncil’sApexAward.
ThisawardrecognizesODEC’sprimaryroleintheformationoftheMid-AtlanticBroadbandCooperative(MABC),anorganizationdedicated
todevelopingbroadbandservicetocommunitiesinruralVirginia.WhileODEChasnoownershipinMABC,ODECsupportstheefforttorejuvenatetheseeconomieshardhitbyeconomiclossesinthetobacco,
textileandfurnitureindustries.
OurflamefuelsthedesiretohelpothersaswecontinuallyrankamongRichmond,Virginia’sbestindollarsperemployeecontributedtotheUnitedWay,withouremployeecontributionshavingincreasedeachyearforthepastsixyears.
InadditiontotheUnitedWay,weorganizeacharitydriveeachyear.Ourthemein2006was“People,PetsandPlaces.”
Recipientsofouremployees’generosityweretheCentralVirginiaFoodBank,McGuireVeteransHospital,theAmericanCancerSociety,
theRichmondSPCAandMealsonWheels.
ItkindlesthespiritofvolunteerismasODECemployeesspreadoutintheircommunitiesandserveincivicandyouthorganizationroles
asboardmembers,coaches,fundraisersandprojectcoordinators.
WeembraceourflameatODEC.Itsenergygeneratesnewideas.
Wetalkaboutthosenewideas.
Andplanaroundthem.
Thenweactontheplans.
Ourflamelightsourway.Oursuccessdependsonit.
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Our Foundation is Solid
Ittakesmorethantherightideas,executedwell,
tomeetODEC’scommitmenttoourmemberdistributioncooperatives.
Ittakeswell-managedpowergenerationfacilities,ofwhichwehavefive:
Clover,locatedinHalifaxCounty,Virginia;NorthAnna,locatedinLouisaCounty,Virginia;
Louisa,locatednearGordonsville,Virginia;MarshRun,locatednearRemington,Virginia;andRockSprings,locatednearRockSprings,Maryland.
OurpowergenerationfacilitiesformthefoundationuponwhichODECisbuilt.
TheCloverandNorthAnnafacilitiesproduceefficient,cleanandreliablebaseloadenergy.
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Clover,ourflagshippowerstation,standsasatestamenttoODEC’scommitmenttoenvironmentalquality.Cloverisoutfittedwithover$400millioninstate-of-the-artequipmentdesignedtokeepourairandwaterclean
–makingitoneofthecleanestcoalburningplantsintheUnitedStates.This860-megawattpowerstation,rankingamongthebestinthenationinoperatingefficiency,burnspulverizedcoalinits220-footboilersreachingtemperaturesof2,000degreesFahrenheit.
AshiningexampleofourfuelandtechnologydiversityisourpartownershipoftheNorthAnnagenerationfacility.Thiswidelyacclaimednuclearpowerfacilitygenerates1,786megawattsannuallyandconsistentlyranksas
oneofthebest-operatedstationsinthenationintermsofperformance,productivityandinnovation.
OurgenerationfacilitiesatLouisa,MarshRunandRockSpringsensureourmemberdistributioncooperativesareliableeconomicalpowersupplyfortheirmember-ownersduringpeakdemandperiods.Allarecomprisedofsimple-cyclecombustionturbinesthatburnnaturalgastoproduceelectricityquicklyandcleanly.Louisaand
MarshRunhavetheaddedcapabilityofburninglow-sulfurfueloilasabackupsource,whenneeded.
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Theday-to-dayoperationsofourLouisaandMarshRunfacilitiesarenowsuccessfullyunderthedirectcontrolofODEC.Bringingtheoperationsinhouseenablesusto
maximizethevalueoftheunitsinourmarketplaceandmeettheever-increasingneedsofourmemberdistributioncooperatives.
Ourcommitmenttobeingrespectfuloftheenvironmentlightsthewayatallofourpowergenerationfacilities.Werecyclewaterfromalocalwastewater
treatmentplantsoitwillnotbereleasedintoanearbyriver.
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Claybermsandwaterretentionpoolsarebuilttotrapandabsorbstormwaterrunoffallowingustouserainfallratherthanpreciousgroundwater.
Treesareplantedtohelppreservethenaturalbeautyofthelandscapesurroundingourfacilities.Conservationareasandwetlandsarecreatedtominimizetheimpactour
powerstationshaveonthelocalenvironment.
ODECpowergenerationfacilitiesplayakeyroleinprovidingpowersafelytoalltwelveofourmemberdistributioncooperatives.
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A Strong Roof Protects Us Overhead
Oursisabusinessthatmustconstantlyevolveinordertomeetthedynamicsofourever-changingmarketlandscapeandtheever-increasingneedsoftheAmericanconsumer.
Ourexecutiveteammustmanagetheorganizationinawaythatwearealwaysabletomeettheneedsofourmemberdistributioncooperatives,allofthetime.
It’snotenoughtodependsolelyonthepowerwegenerateourselvestomeetincreaseddemandwhenandwhereitisrequired.Wemustcollaboratewithenergymarketingentitiesand
externalprocurementsourcestomanageourbusinessmosteffectively.Tothatend,ODECcontinuedourmembershipwithPJMInterconnection(PJM)
andACESPowerMarketing(ACES)in2006.
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OurserviceterritoryisnowfullyintegratedintothePJMgrid.
PJM,aregionaltransmissionorganization,istheworld’slargestcentrallydispatchedgridoperatorandadministersthelargest
competitivewholesaleelectricitymarketontheplanet.AsamemberofPJMwehavethe
abilitytobuyorsellpoweratcompetitiveprices–dependingontheneedsofour
memberdistributioncooperatives.
In2001,ODECbeganitspartnershipwithACES,anationallyrecognizedwholesale
energytradingandriskmanagementfirm.ACESisinstrumentalinexecutingourpower
transactionsintheenergymarket.
Ourabilitytoprocuremarketenergyeffectivelyformstheroofunderwhichwelive.
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Furnishing Our Place for the Future
ODEChadanotherbusyandproductiveyearinsideourhome.
Thepriceoffuelsandenergypurchasesfluctuatedagainthroughout2006.Wemitigatethisvolatilitybythecontinuoususeofourhedgingprogram.
Thatwaywecanassureourmemberdistributioncooperativesandtheirmember-ownersthebestavailablebalance
betweenratestabilityandenergycosts.
Ouremployeessuccessfullyexecutethecooperative’senergyhedgingprogramundertheguidance
ofourRiskManagementCommittee.Weusemanyreportingtoolstomonitorandmeasure
theimpactofvolatileenergycostsonourbusiness.
ODECisintheprocessofimplementingtherequirementsoftheSarbanes-OxleyAct.Wearecommittedtothisprocessasitcontinuesto
improveourinternalcontroleffectivenessoverfinancialreporting.
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Ourmemberdistributioncooperativesarevitaltoourfuturesuccess.Withoutthemtherewouldbenofuture.
That’swhywestrivetobethebestwecanbeforthemandthemember-ownerstheyserveeachandeveryday.
Weallsharethesamehome.
ODEC’sstrategicinvolvementinthewholesalepowermarketenablesustoproactivelymanagethewaythatwecurrentlyprocureenergy
andhowwe’llmeetthefutureneedsofthoseweserve.
Furnishingourfuturerequiresvision.Ourvisionisbuiltonasolidfoundation
sothatwearealwaysinpositiontoembraceopportunitiesinourindustry–todayandtomorrow.
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We’re Proud of Our House
AtODEC,oursparkissafe.Itignitesintoflameeveryday
bringingusnewandinnovativeideastodowhatwedobetter.
It’stheseideasthatburnbright–blazing into action.
Ourgenerationfacilitiesformthesolidfoundationforourhouse.Theydotheirpart,alongwithourapproachtonewenergymarketing
strategies,inprovidingourmemberdistributioncooperativeswithareliablesourceforeconomicalpower.
Wethriveunderourstrongroofandwithinourresilientwalls.
ODECembracesthefuture.Theplansandprocesseswehaveinplacetoday
furnishuswiththemeanstomanagechangeeffectivelysothatwemayalwaysbeinapositiontomeet
alloftheelectricityneedsofourmemberdistributioncooperatives–anytime,anywhere.
Thatiswhatwilldefineoursuccess.
Weprotectthesparkinourhouse.
So our light can burn bright.
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A & N
VernonN.Brinkley
PhilipB.Tankard
BARC
BruceM.King
WilliamM.Leech,Jr.
Choptank
FrederickL.Hubbard
CarlR.Widdowson
Community
CarlR.Eason
JamesM.Reynolds
Delaware
J.WilliamAndrew,Jr.
BruceA.Henry
Mecklenburg
M.JohnsonBowman
DavidJ.Jones
Northern Neck
HunterR.Greenlaw,Jr.
GregoryW.White
Northern Virginia
StanleyC.Feuerberg
WadeC.House
Prince George
MDaleBradshaw
GlennF.Chappell
Rappahannock
KentD.Farmer
WilliamC.Frazier
Shenandoah Valley
FredC.Garber
MyronD.Rummel
Southside
CalvinP.Carter
M.LarryLongshore
JacksonE.ReasorPresident and Chief Executive Officer
M.JohnsonBowmanChairman of the Board
JamesM.ReynoldsVice Chairman
FrederickL.HubbardSecretary/Treasurer
LisaD.JohnsonSenior Vice President of Power Supply
RobertL.KeesSenior Vice President and Chief Financial Officer
ElissaM.EckerVice President of Human Resources
JohnC.Lee,Jr.Vice President of Member and External Relations
Board of Directors
Officers
twenty-two
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EXECUTIVE COMMITTEE
M.JohnsonBowman,ChairmanoftheBoard
JamesM.Reynolds,ViceChairman
FrederickL.Hubbard,Secretary/Treasurer
HunterR.Greenlaw,Jr.
BruceA.Henry
WadeC.House
POWER SUPPLY AND RESOURCES COMMITTEE
M.LarryLongshore,Chairman
VernonN.Brinkley
GlennF.Chappell
CarlR.Eason
StanleyC.Feuerberg
WilliamC.Frazier
HunterR.Greenlaw,Jr.
BruceA.Henry
FrederickL.Hubbard
WilliamM.Leech,Jr.
MyronD.Rummel
FINANCE COMMITTEE
JamesM.Reynolds,Chairman
J.WilliamAndrew,Jr.
MDaleBradshaw
CalvinP.Carter
KentD.Farmer
FredC.Garber
WadeC.House
DavidJ.Jones
BruceM.King
PhilipB.Tankard
GregoryW.White
CarlR.Widdowson
HUMAN RESOURCES COMMITTEE
J.WilliamAndrew,Jr.
VernonN.Brinkley
CarlR.Eason
GregoryW.White
NOMINATING COMMITTEE
HunterR.Greenlaw,Jr.,Chairman
GlennF.Chappell
WilliamC.Frazier
WilliamM.Leech,Jr.
CarlR.Widdowson
AUDIT COMMITTEE
MDaleBradshaw,Chairman
VernonN.Brinkley
CalvinP.Carter
KentD.Farmer
FredC.Garber
DavidJ.Jones
BruceM.King
BY-LAWS AND POLICY COMMITTEE
KentD.Farmer,Chairman
GlennF.Chappell
StanleyC.Feuerberg
BruceA.Henry
FrederickL.Hubbard
M.LarryLongshore
MyronD.Rummel
PhilipB.Tankard
GregoryW.White
GENERAL COUNSEL
LeClairRyan
AProfessionalCorporation
4201DominionBoulevard
GlenAllen,VA23060
INDEPENDENT AUDITORS
Ernst&YoungLLP
901EastCaryStreet
Richmond,VA23219
Standing Committees of the Board of Directors
twenty-three
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ManagementisresponsibleforthepreparationofallinformationcontainedinthisAnnualReport.TheconsolidatedfinancialstatementsfromwhichcertaininformationwasextractedforinclusioninthisAnnualReportwereprepared
inconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesconsistentlyappliedduringtheperiod.Managementusesitsbestjudgementtoensurethatsuchstatementsreflectfairlythefinancialposition,
resultsofoperations,comprehensiveincome,andcashflowsofODEC.
ODECmaintainsasystemofinternalcontrols,whichprovidesreasonableassurancethattransactionsareexecutedinaccordancewithmanagement’sauthorization,andthatassetsareproperlyaccountedforandsafeguarded.
TheBoardofDirectors,throughitsAuditCommitteeconsistingonlyofdirectors,hasresponsibilityfordeterminingthatmanagementfulfillsitsresponsibilitiesforthepreparationoffinancialstatementsandfinancialcontrolof
operations.TheAuditCommitteeperiodicallymeetswithmanagementandtheindependentaccountantstodiscussauditing,internalcontrolandfinancialreportingmatters.
Report of Management
JacksonE.Reasor
President and CEO
RobertL.Kees,CPA
Senior Vice President and CFO
* Was available for commercial operation in June 2003 ** Was available for commercial operation in September 2004
twenty-four
Operating Revenues& Expenses
(in millions of dollars)
PatronageCapital
(in millions of dollars)
CloverCapacity(percent)
North AnnaCapacity(percent)
Louisa*Marsh Run**Rock Springs*
Availability(percent)
Annual Energy Salesto Members
(in millions of MWh’s)
2006 2005 2004 2003 20020
200
400
600
800
1000
0
3
6
9
12
15
2006 2005 2004 2003 20020
75
150
225
300
375
2006 2005 2004 2003 2002
0
20
40
60
80
100
2006 2005 2004 2003 20020
20
40
60
80
100
2006 2005 2004 2003 20020
20
40
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Member Distribution Cooperatives’ Service Territories
Additional Information
A digital pdf file of the Old Dominion Electric Cooperative 2006 Annual Reportor SEC Form 10-K may be obtained from our web site at www.odec.com
Old Dominion Electric Cooperative’s 2006 SEC Form 10-K may also be obtained from the SEC at www.sec.gov
Requests should be made by writing to:
Old Dominion Electric CooperativeVice President and Controller
P.O. Box 2310Glen Allen, Virginia 23058-2310
Conceptual Design by Brand FacilitatorsPhotography by Karl Steinbrenner
printed on recyclable paper
Baltimore
Maryland
Pennsylvania
Maryland
Virg
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Wes
t Virg
inia
VirginiaNorth Carolina
New Jersey
MARSH RUN
Atlantic Ocean
Chesapeake Bay
13
495
95
95
695
95
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64
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64
64
64
81
81
66
81
295
13
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113
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MarylandDelaware
Delaw
are
Dover
Maryland
Washington D.C.
Richmond
Norfolk
VirginiaLOUISANORTH ANNA
ROCK SPRINGS
CLOVER
A&NBARC
ChoptankCommunity
DelawareMecklenburg
Northern NeckNorthern Virginia
Prince GeorgeRappahannock
Shenandoah ValleySouthside
ExistingGenerating
Facilities
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