Dominion Looking to Sell Gas-Fired Power Plants in PA, RI

Dominion Energy, headquartered in Richmond, VA, is a large utility and pipeline company providing ~6 million customers in 19 states with natural gas and electricity. Dominion not only flows energy to customers, it also generates it. In 2016, Dominion brought online a brand new, 1,358 megawatt, natural gas-fired generating plant in Brunswick County, VA (see Dominion Brunswick NatGas-Fired Plant Begins Electric Generation). Dominion built and now operates the Cove Point LNG export facility, which began exporting Marcellus gas in April of this year (see First-Ever Shipment of Marcellus LNG Leaves Cove Point, Maryland). In other words, Dominion really digs natural gas. Yet the company is rumored to be shopping two of its natgas-fired generating plants, looking to make $1-$1.5 billion. One plant, the Fairless Power Station, is located in Bucks County, PA near Philadelphia. The other, Manchester Street Power Station, is located in the People’s Republic of Rhode Island. So why on earth would Dominion, a company that really digs natgas, want to dump two of its power generating plants situated in large, urban areas? It all has to do with regulation…

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