RICHMOND, Va., March 29, 2016 /PRNewswire/ -- The Virginia State Corporation Commission (SCC) today approved Dominion Virginia Power's request for a Certificate of Public Convenience and Necessity to build a state-of-the-art natural gas-fired power station in Greensville County.
"We are pleased that the SCC has granted approval for the Greensville Power Station," said Paul Koonce, CEO of Dominion Generation Group. "This project will ultimately bring low cost, reliable electricity to our customers while saving them $2 billion over the life of the plants' operation, in addition to providing a major economic impact and good paying jobs for Southside Virginia."
Customers will save $2.1 billion over the life of the power station through fuel savings versus the projected cost of purchasing electricity on the open market.
Construction is expected to begin later this year on the $1.3 billion power plant on a site that straddles the Greensville/Brunswick County line. The power station will generate 1,588 megawatts of electricity and will be built on 55 acres. It is being constructed just a few miles from Dominion's Brunswick Power Station, which is expected to be fully operational next month.
Construction at the station will create more than 1,000 jobs and approximately 45 full-time positions once on line in 2019. In its first year of operation, the station is expected to provide as much as $8 million in property taxes for Greensville County in Southside Virginia. During the development and construction phase, the project will provide direct and indirect economic benefits to the Commonwealth of approximately $474 million, which supports on average approximately 460 jobs annually.
"Greensville County will recognize significant benefits from the construction of the Greensville Power Station," said Peggy R. Wiley, Chairman of the Greensville County Board of Supervisors. "The impact on our economy, jobs and businesses in the region will help this community, and we look forward to working cooperatively with Dominion Virginia Power."
The station will have low carbon intensity because it utilizes clean-burning natural gas, combined cycle technology and best available control technology to reduce emissions. It will also have lower water usage that will minimize the impact to rivers and streams. Dominion customers will also benefit from a reduction of Dominion's overall carbon intensity.
Greensville Power Station is part of Dominion's plan for meeting demanding new air quality and proposed carbon dioxide emissions standards while keeping up with growing customer demand for energy. While there are no immediate plans for a solar facility in Brunswick or Greensville counties, solar is already part of the conditional use permit for this property.
About Dominion Virginia Power
Dominion Virginia Power is a subsidiary of Dominion (NYSE: D), one of the nation's largest producers and transporters of energy. Dominion provides energy or products and services to more than five million customers in 14 states. It has a portfolio of approximately 24,300 megawatts of generation and 6,500 miles of electric transmission lines. Dominion also operates one of the nation's largest natural gas storage systems with 933 billion cubic feet of storage capacity. For more information about Dominion, visit the company's website at www.dom.com.
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SOURCE Dominion Virginia Power