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Monday, April 02, 2007
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Category: News and Politics
We told you Dominion has moved its annual meeting this month to Boston. We think they are courting new customers in the northeast. The Daily Press tells us that Dominion CEO, Thomas F. Farrell, II, was granted $7.3 million in total compensation in 2006. Dominion filed its annual proxy statement last night - right after the Governor made his amendments to the massive overhaul of utility laws in Virginia.
The statement has the details of the pay packages for the top executives and board of directors. It breaks down changes in major policies, board shifts and proposals for Dominion's annual meeting that shareholders can vote on.
Some highlights:
- Dominion had last year's meeting in Richmond, but it will be in Boston this year on April 27.
- Former Dominion CEO Thos. E. Capps, who has been chairman since 2001, is not seeking a return to the board. He will be replaced as chairman by Farrell after the annual meeting.
- CEO Thomas F. Farrell, II, was granted $7.3 million in total compensation in 2006.
- Farrell's more unique perks included almost $37,000 for personal use of the corporate aircraft. Added with financial planning, a "health and wellness allowance" and club fees, the extras added up to more than $83,000 for Farrell.
- Two shareholder proposals will be voted on: One seeks a report on how Dominion plans to deal with expected carbon dioxide emissions. The other proposal wants a report on the major power line Dominion wants to build through Northern Virginia.
- Besides Capps, three other board members aren't seeking re-election to the board: Richard L. Leatherwood, S. Dallas Simmons and Ronald J. Calise
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Tuesday, March 20, 2007
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Category: News and Politics
Scared much?
Facing potential shareholder outrage, Dominion Power has moved its annual meeting out of state. Headquartered in Richmond, Dominion usually holds its annual meetings in Virginia, but this year Dominion has moved the meeting. It will be held in Boston on April 27th (Intercontinental Hotel at 9:30AM). Is this a sign that Dominion is trying to move closer to its new market in the Northeast? The move follows growing criticism of Dominion's actions in the state legislature and its proposed transmission line through the Piedmont.
Earlier this year Dominion pushed through "re-regulation" legislation that will raise rates for all Dominion Virginia ratepayers. With its political influence and millions of dollars spent in political contributions Dominion was able to rush the legislation through the Virginia legislature without even one public hearing. Now Dominion is trying to do the same with its proposed transmission line that would raise electric rates even higher.
Virginia does not need, does not want and can't afford these power towers. Keep the pressure on until Dominion retreats from the proposed transmission line.
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Thursday, March 15, 2007
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Category: News and Politics
The Civil War Preservation Trust issued its annual inventory of endangered battlefields and guess which state made the list, Virginia! Dominion isn't named of course but we all know who is responsible for the destruction of these precious sites. From CNN:While Gettysburg's new nemesis is housing, a site in Alabama's Mobile Bay is suffering from neglect and a lack of state funding, and vast tracts of land stretching from Virginia to Pennsylvania are at risk from a planned major power line, the Civil War Preservation Trust said in its annual inventory of endangered battlefields.
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Monday, March 12, 2007
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Current mood:  excited
Big props to the mayor of Warrenton! Mayor Fitch is moving the city toward energy independence. Ahem, Richmond should take notice. Energy independence may be a long way off for the United States, but the mayor of Warrenton believes he can achieve it for his rural town of 8,000 before he leaves office in 2010.
Mayor George B. Fitch said he'll put the town on a "low-carbon diet" by building a $30 million plant at the county dump, which would take garbage, construction waste, agricultural residue, manure and other "biomass" and turn it into electricity and ethanol. He said the plant would generate 10 million gallons of ethanol a year and enough electricity to power every house in Warrenton with minimal greenhouse gas emissions and no fossil fuels.
He said he believes he can do it without raising taxes or taking on debt and said it could even earn the town a modest profit.
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Wednesday, March 07, 2007
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Category: News and Politics
Remember the recent power utiliy bill that moved at lighting speed through the legislature and is now awaiting Gov. Kaine's signature? Well, the Rappahannock Voice reports today that county supervisors want him to amend the bill before he puts his John Hancock on it... Rappahannock County has asked Virginia Gov. Timothy M. Kaine to prohibit the construction of a second high-voltage power line through the county, arguing that Dominion Virginia Power serves no customers in this county and contributes substantially to the air pollution that is hurting the county's second-largest industry, tourism. In a letter authorized Monday by the county's Board of Supervisors, County Administrator John McCarthy asked Kaine to amend pending utility legislation to bar Dominion from using a transmission-line route that crosses parts of Rappahannock County. The utility lobbied hard in the recent session of the General Assembly to win passage of the pending utility re-regulation bill, which critics claim will fatten utility profits. McCarthy's letter argues that Rappahannock County, which already is crossed by one 500-kilovolt power line, should not be asked to bear the burden of a second such line, especially since Dominion has no customers in the county and hurts local tourism to Shenandoah National Park with the air pollution generated by its coal-fired plants to the west. County officials are urging Rappahannock citizens to write similar letters or to call the governor's office on the issue. The full text of McCarthy's letter is available on the Rappahannock Voice.
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Wednesday, March 07, 2007
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From today's Free-Lance Star: Culpeper County Board of Supervisors yesterday went on record opposing Dominion's recent decision to bring the 500 kilovolt lines along existing right-of-way though the Jeffersonton area, unanimously passing a resolution to that effect.
However, the supervisors said they don't dispute the need for a more powerful transmission line. Wrong. Sure, Dominion's presentation to the board was filled with "what ifs" and other scary predictions but the fact remains that Dominion has yet to provide sufficient data of the need. Here's what Dominion doesn't want you to know. Dominion wants to contruct the 15-story transmision lines so they can sell power to the northeastern states. It makes perfect business sense and falls right in line with Dominion's greed but Virginians are cut out of the deal. No Power Towers!
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Wednesday, March 07, 2007
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Current mood:  chipper
Category: News and Politics
Our friends in Rappahannock County know what's at stake here. From the Rappahannock Voice: The Rappahannock County Board of Supervisors unanimously opposes Dominion Virginia Power Company's plan to build a new high-voltage power line across the county and will vigorously fight the proposal, County Administrator John McCarthy told a packed meeting Monday evening.
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Tuesday, March 06, 2007
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Category: News and Politics
The Piedmont Environment Council will hold a public forum Wednesday at the Jeffersonton Community Center at 7 p.m. to discuss Dominion's 500 kV power line and how it could impact you.
Jeffersonton Community Center 5073 Jeffersonton Road Jeffersonton, VA 22724
Hosted by Concerned Culpeper Citizens & Piedmont Environmental Council.
No Power Towers and the PEC demands proof from Dominion.
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Monday, March 05, 2007
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Current mood:  amused
Category: News and Politics
The Washington Post covers the power line fight in today's Style section. Bottom line - Dominion's execs thought they could buy their way into constructing power lines but forgot about the corporations of years past that have tried and failed to take over land in the commonwealth. Dominion also underestimated Virginia's dedicated and passionate residents and activists who never go away.  Dominion has agreed to adjust its proposed power line plan but we are still in the fight for the long haul.
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Thursday, March 01, 2007
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Current mood:  annoyed
I read this story in the Daily Press today regarding the electricity "regulation" bill that sailed through Virginia's legislature. It amazes me how much control Dominion has over our legislators. The bill guarantees Dominion a healthy profit margin, at or above the average for the industry regionally. Utilities can make even more profit - collected from customers - if they build new generating plants...
Dominion is among the biggest of all donors in the state and has given legislators millions of dollars. It's impossible not to wonder: Does the enthusiasm for Dominion's agenda correspond to the level of Dominion's generosity?
With all the millions flowing from Dominion into the pockets of Virginia's legislators, it must be hard to differentiate between right and wrong.
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