2010-2011 Executive Summary

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We embrace the complex energy challenges of our time and pledge to work for sustainable solutions that will bring about a smarter, cleaner and more efficient energy future for our customers and our communities.

CITIZENSHIP &

SUSTAINABILITY REPORT

EXECUTIVE SUMMARY

DOMINION’S APPROACH TO

SUSTAINABILITY IS DYNAMIC

AND MULTI-DIMENSIONAL.

MESSAGE FROM THE CHAIRMAN

W elcome to the fourth annual edition of Dimensions, Dominion’s

Citizenship & Sustainability Report.

This overview of Dominion’s 2010 social, economic and environmental performance represents a departure from previous years, when our main report was printed and distributed to select internal and external stakeholder groups. As part of a systematic effort to conserve resources and reduce our environmental impact, we chose to produce a printed summary report and make our full report available on Dominion’s website. This also allows us to use interactive media to better showcase our company and provide stakeholders with another means of engaging with us.

Dominion’s approach to sustainability is dynamic and multi-dimensional. It is organized around the three interrelated pillars of awareness, action and accountability. This framework helps us to see the larger social, economic and ecological systems within which we operate our business, and it mirrors the core values on which we base all of our policies and practices.

We can and do change our business model, strategies and goals to adapt to shifting circumstances. But performance that is truly sustainable must be anchored in solid values that stand the test of time. At Dominion, those values are safety, ethics, excellence and teamwork. They embody who we are and what we stand for as a company. They allow us to venture — with confidence

— into uncharted territory in search of lasting solutions to the pressing energy challenges of our time.

I encourage you to visit our website and explore our report in greater depth. There you will meet some of the 16,000 employees whose imagination, intelligence, passion and caring lie at the heart of the Dominion enterprise. I also invite you to send your comments and suggestions to sustainability@dom.com.

TOM FARRELL

Chairman, President & CEO

Online report: www.dom.com/sustainability

DOMINION’S SUSTAINABILITY MODEL:

Awareness

of the impact our operations have on our employees, the community, the environment and future generations.

Action

that supports the well-being of society and protects the natural world over time.

Accountability

for the choices we make and the resources entrusted to our care.

Positive Social Impacts &

Sustainable Business Performance

OUR MISSION

❚ Serve our customers safely and reliably

Strengthen our communities

❚ Minimize our environmental footprint

Reward our shareholders

Live our values

OUR VALUES

Safety : Our highest priority in the

workplace and in the community

Ethics: Acting responsibly and with

integrity in all circumstances

Excellence: The standard of

performance to which we aspire

One Dominion: A unifying focus on

teamwork companywide

1

COMPANY PROFILE

D

OMINION [NYSE: D] is one of the nation’s largest electric power and natural gas companies, serving almost 6 million utility and retail customers in 15 states. Our company is built on a proud legacy of public service, innovation and community involvement. In addition to our core energy production, transportation and storage businesses, we strive to create sustainable value by investing in the communities where we live and work and by practicing responsible environmental stewardship wherever we operate.

HEADQUARTERS: RICHMOND, VA.

FORTUNE 500 RANK: 162

2010 Data

OPERATING SEGMENTS

OPERATING REVENUES:

$15.2 BILLION

TOTAL # OF EMPLOYEES: 15,800

DOMINION VIRGINIA POWER

Electric distribution

Electric transmission

DOMINION ENERGY

Gas distribution

Gas transmission

Non-regulated retail energy marketing (electric and gas)

2010 EARNINGS BY OPERATING SEGMENT:

Gas storage

Producer services

ASSETS: $42.8 BILLION

TOTAL CHARITABLE GIVING: $24.1 MILLION

DOMINION GENERATION

Utility power generation

Merchant power generation

GEOGRAPHIC COVERAGE (as of 12/31/10)

Dominion Operations

★ Corporate

Headquarters

Selected Office

Locations

2 www.dom.com/sustainability

COMPANY PROFILE 2010 PERFORMANCE HIGHLIGHTS

BUSINESS

$24.8

billion in equity market capitalization

$1.83

in dividends paid per share, up 4.6% from

2009

14.8%

1-year total return through Dec. 31, 2010

$42.72

stock price as of Dec.

31, 2010, up 9.8% from the previous year

ENVIRONMENT

$579 million spent on environmental improvement projects, up 12% from 2009

4

megawatt integrated solar and advanced battery storage project announced

1st

Dominion facility to receive LEED “Gold” certification for environmentally friendly design

(Sabinsville, Pa.)

$1.1

million in grants awarded to 90 environmental groups in 11 states in honor of

Earth Day

COMMUNITY

150,000 hours of recorded employee volunteer community service — a company record

$24.1

million in total charitable donations

$312 million in spending with diverse suppliers, up 30% from 2009

$500,000 in grants awarded to

Virginia colleges and community colleges

CUSTOMERS

596,000 new residential utility and retail energy customer accounts

2 million energy-efficient CFL bulbs purchased through Dominion’s discount program

10,000th customer enrolled in the Dominion Green

Power SM Program

100,000 smart meter installations completed in Virginia

WORKFORCE

Top 100 list of most militaryfriendly employers in the nation, GI Jobs magazine

17% drop in OSHA recordable incident rate from

2009 level

$1.5

million in employee and retiree charitable matching gifts

10th best-funded pension trust of the 100 largest

U.S. corporate trusts

3

4

BUSINESS

www.dom.com/sustainability

W e strive to produce steady, sustainable returns for shareholders by living our core values, executing our business plans and fulfilling our commitments to customers, employees and the communities we serve.

D

“ We view D[ominion]

as a best-in-class

regulated utility,

whose growth

prospects and

regulation are

top-tier…”

Barclays Capital,

Jan. 31, 2011

BUSINESS FOCUS AREAS

✱ Achieve stable, sustainable earnings and dividend growth

✱ Reduce commodity price exposure and risk profile

✱ Expand and modernize energy infrastructure

✱ Evaluate new and emerging alternative energy solutions and technologies

In 2010, we put the finishing touches on a 5-year strategic transformation of Dominion that favors our lower-risk, regulated natural gas and electric utility businesses. Since 2006, we have taken a series of strategic steps to refocus on our core energy supply and delivery operations, divest more than $18 billion in non-core assets and reduce our commodity exposure. These initiatives have strengthened our balance sheet, reduced debt and improved our credit ratings. We are now positioned to execute our regulated infrastructure expansion plans and achieve sustainable value for our shareholders.

Dominion Makes 2010 “100 Best Corporate Citizens” List

Dominion was No. 36 among the 1,000 largest publicly-traded companies rated by Corporate Responsibility Magazine. The companies were ranked on their performance in the areas of climate change, environment, employee relations, financial performance, governance, human rights and philanthropy.

2010 HIGHLIGHTS

➧ Sold our Appalachian natural gas and oil exploration and production business, a natural gas distribution company and a small generating station. These asset sales allowed us to fund higher dividend payments, invest in our pension plan, offset our equity needs, reduce debt and buy back stock.

➧ Achieved a total shareholder return of 14.8 percent, besting both the Dow Jones Utility Average and the larger Dow Jones

Industrial Average.

➧ Set a new dividend policy to return 60-65 percent of operating earnings to shareholders, up from the previous 55 percent pay- out level. The board of directors also set a 2011 dividend rate of $1.97 per share, a 7.7 percent increase. All dividend declarations are subject to approval by the board.

➧ Achieved $105.4 million in savings through Six Sigma quality and process improvement projects, surpassing the goal by

24 percent.

CREATING SUSTAINABLE SHAREHOLDER VALUE

(Through Dec. 31, 2010)

Dominion Dow Jones

Utility Index

40% 35.86

S&P 500 Index

30%

20%

14.81

21.10

15.06

12.01

10% 6.51

3.15

0%

1-Year Total Return

3-Year Total Return

5-Year Total Return

-8.29

-13.52

5

6

ENVIRONMENT

www.dom.com/sustainability

R esponsible stewardship of natural resources is one of the essentials of daily business at

Dominion. Meeting energy needs while minimizing our environmental footprint is a leading sustainability challenge. To find an acceptable balance, we strive to collaborate across boundaries and think systemically about how to create a cleaner and more efficient energy system for the future.

ENVIRONMENTAL FOCUS AREAS

✱ Minimize operational impacts on air, land, water and wildlife

✱ Achieve renewable energy and conservation targets:

– 15% renewable power by 2025 (Virginia)

– 12.5% renewable power by 2021 (North Carolina)

– 10% reduction in retail customers’ energy use by 2022 (Virginia)

✱ Support the company’s infrastructure growth plan through environmental permitting and integration of sustainability into project developments

✱ Enhance employee engagement in company’s sustainability initiatives

✱ Increase sustainability reporting and disclosure

The U.S. Environmental Protection Agency

(EPA) plans to set new standards in the next several years governing a host of air pollutants. In addition, the EPA plans to issue regulations to control greenhouse gases, regulate coal combustion byproducts and cooling water intakes at power stations. These new regulations could add several billions of dollars

ENVIRONMENT

Dominion Named “Hero of the Chesapeake Bay”

The Maryland Legislative Sportsmen’s Foundation named Dominion “Hero of the Chesapeake Bay” for its continuing support of regional environmental programs. In particular, the award recognized the

Maryland Artificial Reef Initiative, which is restoring and enhancing marine ecosystems in the Bay.

in environmental spending to the more than

$3 billion that Dominion already has spent or is committed to spend by 2015. In this evolving regulatory landscape, we will continue to ensure that environmental compliance and responsible environmental stewardship are integrated with the company’s operating goals and strategies.

2010 HIGHLIGHTS

➧ Announced plans to build a 4-megawatt integrated solar and advanced energy storage research facility in partnership with the

University of Virginia, a battery manufacturer and Halifax

County, Virginia. The project will be one of the nation’s largest solar array research demonstrations.

➧ Continued construction of twin closed-cycle cooling towers at the

Brayton Point generating station in Massachusetts, the largest fossil station in New England. In late 2010, the $600 million cooling towers reached their full height of 500 feet. When fully operational in 2012, the amount of water withdrawn from Mt.

Hope Bay is expected to drop by more than 90 percent.

➧ Installed four electric vehicle (EV) charging stations in Northern

Virginia to support EV market development in our service area.

Dominion is partnering with Ford Motor Co. to develop consumer education programs about EVs. The company also agreed to purchase three Chevy Volt plug-in vehicles for use in its service fleet as part of a demonstration project sponsored by General

Motors and the U.S. Department of Energy.

➧ Completed 14 projects in 10 states as part of the company’s

11th annual “Putting Our Energy to Work for the Environment” volunteer initiative. Employees refurbished public parks and environmental education centers with financial support from the

Dominion Foundation.

1,600MW

More than 1,600 megawatts of renewable energy in operation or development.

7

8

COMMUNITY

www.dom.com/sustainability

W e care about the communities that sustain our business. We work at improving the quality of community life and giving back through partnerships, volunteer service, targeted social investments and other forms of engagement.

150,000 hours of recorded employee volunteer community service

— a company record.

COMMUNITY FOCUS AREAS

✱ Help meet essential human needs for food, shelter and warmth

✱ Support community vitality with charitable dollars and volunteer service

✱ Foster educational excellence in science, technology, engineering and math

✱ Promote sustainable economic development and supply chain diversity

One consequence of hard economic times has been a significant increase in the number of people struggling to pay their energy bills. In response, Dominion partnered with churches, state agencies and community organizations to inform citizens about available energy assistance and low-cost energy conservation programs. We also refocused our charitable giving to help meet basic human necessities, such as food, shelter and health care.

COMMUNITY

Environmental Education Program Wins Award

Dominion’s Project Plant It! program that teaches children about the role of trees in the ecosystem received a “2010 Scenic Tree Program” award from

Scenic Virginia, Inc. The award recognizes excellence in the preservation, protection and enhancement of the state’s scenic beauty and community character.

2010 HIGHLIGHTS

➧ Donated $4.5 million to the company’s EnergyShare fuel assistance program. The Dominion Foundation also awarded

$1 million to charitable organizations in 14 states that provide shelter or housing assistance for the homeless, abused women and low-income families.

➧ Awarded a $1.2 million educational grant to the Salem,

Massachusetts, public school system to create an endowment to fund science, technology, engineering and math instruction for students in grades 1-8.

➧ Spent $312 million with diverse suppliers, about 7.4 percent of our total non-fuel procurement of $4.2 billion and more than

30 percent above our 2009 spend of $239 million.

➧ Dominion’s economic development team was directly involved in

17 project announcements representing almost 2,300 new jobs and $1.1 billion in new capital spending.

2010 COMMUNITY INVESTMENTS BY CATEGORY

TOTAL = $14.9 MILLION 2

28% Health/Human Services

$4.2 million 1

20% Education

$2.9 million

15% Environment/Historic Preservation

$2.3 million

15% Civic/Community Development

$2.2 million

12% Culture & Arts

$1.8 million

10% Matching Gifts

$1.5 million

1 Includes support for the United Way

2 Does not include $4.5 million donation to EnergyShare and $4.7 million in direct

giving for special event and project support

9

CUSTOMERS

10 www.dom.com/sustainability

W e are committed to meeting our customers’ present and future energy needs — reliably, responsibly and affordably. We will employ products and services, outreach and technology-based solutions that engage customers and help them make smart energy choices and use energy wisely.

CUSTOMER FOCUS AREAS

✱ Invest in new energy infrastructure to enhance service reliability

✱ Meet customer expectations by maintaining competitive rates and superior service

✱ Provide customers with tools to conserve energy and manage costs

✱ Expand green energy/conservation programs to benefit the environment

✱ Assist low-income customers with heating and cooling bill payment programs

In 2010 we announced plans to embark on a fiveyear, $10.1 billion build-out and modernization of our supply and delivery infrastructure — the pipes, wires and generating stations we need to reliably serve the long-term energy needs of our regulated natural gas and electricity customers. In the coming decade, our job is to stay ahead of the highest projected customer demand growth in a 13-state region that stretches from Chicago to Washington, D.C., and north to New Jersey.

CUSTOMERS

Dom.com Named “Best New Site” by PR News

Dominion’s website received top honors in 2010 for best new design among a field of national entries at the PR News Digital Awards program. Since the redesign launch, dom.com has seen an increase in site visits to 1.4 million per month. More than half of the website visitors are using it for some type of account transaction, such as our paperless eBill program.

2010 HIGHLIGHTS

➧ Received No. 1 ranking in a major industrial survey for customer value and satisfaction among our peer natural gas pipeline companies serving the Northeast.

➧ Launched five new energy conservation programs in Virginia that empower customers with cost-effective options to control their energy use and manage their costs.

➧ Enrolled our 10,000th electric customer in the Dominion Green

Power sm program, a convenient way to support the development of renewable energy sources.

➧ Expanded our demonstration of smart meters to four localities in densely-populated Northern Virginia. Total smart meter install- tions in Virginia reached 100,000 by year’s end.

➧ Improved our J.D. Power customer satisfaction survey score to

636, compared with a national average of 630 and our 2009 score of 619. The greatest areas of improvement were power quality/reliability and corporate citizenship.

25% of our 2.4 million electric customers use the paperless eBill program, our greenest billing and payment option.

50%

40%

30%

20%

MAINTAINING COMPETITIVE ELECTRIC RATES*

% Change

60%

54.4%

56.8%

10%

0%

Consumer

Price Index

U.S. Average

17.5%

Dominion

Virginia Power

* Change in U.S. Average Residential Monthly Bill vs. Consumer Price Index vs. Dominion

Virginia Power Residential Monthly Bill, 1,000 kWh, Jan. 1, 1993 – Jan. 1, 2011.

Sources: U.S. Bureau of Labor Statistics, Edison Electric Institute, Dominion

Virginia Power.

11

WORKFORCE

www.dom.com/sustainability

S ustainable business excellence depends on an engaged and skilled workforce, today and tomorrow. Our goal is to offer a safe, inclusive and productive workplace that rewards superior performance, supports career growth and leadership development, and promotes employee work/life balance.

12

#1 rank in 2010 safety performance among nine peer companies with multiple operating units.

WORKFORCE FOCUS AREAS

✱ Promote a culture of safety, integrity, diversity and excellence

✱ Provide challenging professional growth and leadership opportunities

✱ Recognize, reward and celebrate employee achievement

✱ Develop and execute strategies to attract and retain top talent

Dominion’s dedicated employees worked together in 2010 to complete a five-year strategic transformation to a more regulated energy company with less risk and more predictable earnings power. They accomplished this while recording their best safety performance in history. Dominion also consistently ranked in the top quartile of companies in our region in safety performance. In addition, employees absorbed new responsibilities and streamlined operations in the wake of a voluntary separation program that saw more than 1,400 of their colleagues leave the company during the year.

Dominion Named a 2010 “Best for Vets” Employer

Dominion was chosen by Military Times Magazine as one of the top 50 companies nationwide for its efforts to help veterans find and keep jobs in the civilian workforce. The award was based on policies and practices in the areas of recruiting, training/mentoring, reserve policies and corporate culture.

2010 HIGHLIGHTS

➧ Achieved all-time best safety performance at our three operating business units.

➧ Updated the company’s Code of Ethics and Business Conduct to incorporate additional guidance on company policies governing ethical conduct.

➧ Realigned the company’s employee diversity councils along business unit lines to enhance accountability and focus on three strategic areas: employee culture, supplier choices and community involvement.

➧ Launched the Dominion Careers Facebook page to raise the company’s profile and help recruit potential job candidates.

The Careers page on Facebook joins other company sites in the social media space, offering stakeholders more opportunities to engage with us informally and receive immediate feedback.

FOCUS ON SAFETY

5-Year OSHA Recordable Incident Rates*

1.87

1.40

1.15

1.15

0.95

2006 2007 2008 2009 2010

*Dominion Incident Rate = Number of Recordables Per 100 Employees Each Work Year

DOMINION RESOURCES, INC.

P.O. Box 26532

Richmond, Virginia 23261-6532

Website www.dom.com

www.dom.com/sustainability

Previous printed editions of Dimensions utilized a larger format and averaged 40 pages. This year, only a brief summary has been printed.

By reducing the number of pages and the size of the report, we have reduced our environmental footprint. The full Citizenship & Sustainability Report is now web-based. To read the expanded version of this summary report, go to www.dom.com.

© 2011 Dominion Resources, Inc.

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