Electric News Releases - 1999

July 1, 1999

Virginia Power Meets Y2k Readiness Objectives

RICHMOND, Va. – Virginia Power systems essential to providing electricity for its 2 million customers during the New Year rollover are now Year 2000 ready.

"Equipment necessary for sustained operations at the end of the year is ready for the century date change," said William S. Mistr, vice president-Procurement and the head of the company's Y2K program. "Our opinion is that there will be little, if any, Y2K-related service interruptions to our customers. Further, we believe it is highly unlikely the nation's electric transmission system will be adversely affected."

Virginia Power has 84 generation units and final mission critical upgrades remain to be done at only three coal-fired units. These units are not needed to meet the projected peak load during the New Year rollover. Work on the three units will be performed during scheduled maintenance periods in the fall.

"Traditionally, our customers use very little electricity on New Year's Eve and New Year's Day," Mistr said. "We plan to have more than adequate power available at the time. We also plan to have extra staff working during the rollover period."

Virginia Power completed a preliminary impact assessment of its Y2K issues on its corporate business systems in 1996. In January 1997, a Y2K project team was formed. The team conducted an exhaustive inventory, assessment and testing of company systems vulnerable to the millennium bug. The team set a goal of having systems critical for sustained operations ready by the beginning of July 1999.

"The team met that goal," Mistr said.

On June 30, the company reported its current status to the North American Electric Reliability Council, an electric utility trade organization charged by the Department of Energy to help ensure the reliability of the national electric grid.

Also, in a July 1 letter to the U.S. Nuclear Regulatory Commission, the company said critical systems at its two nuclear power stations, North Anna and Surry, are Y2K ready. The letter noted that only two, non-critical, non-safety related items at North Anna still need an upgrade. Work on each one is in progress and will be completed this fall.

Virginia Power is the principal subsidiary of Dominion Resources Inc. (NYSE: D), an energy company with headquarters in Richmond.

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