Dominion Resources Inc. (DRI) is a diversified energy company with about 40%-45% of its business from regulated electric utility operations at its subsidiary VP, about 20% from its regulated operations at its Consolidated Natural Gas (CNG) subsidiary, about 30% from its exploration and production business (E&P), and the remaining 5%-10% from its portfolio of unregulated power generation and energy marketing and trading. Dominion has about 6,000MW of merchant power generation outside of Virginia, located in the Midwest, Mid-Atlantic, and Northeast U.S. Approximately 2,400MW of this portfolio is under long-term contract, with another 2,300MW under contract during 2003. The ratings of Dominion are supported by cash flow stability, favorable regulation, and an average business profile. VP's service territory continues to be
