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Dominion's Newspaper Commentary on Virginia "Re-regulation" Cries Out for Rebuttal, Says EPSA

Washington, D.C. -- The Electric Power Supply Association (EPSA) today released the following rebuttal to Thomas F. Farrell II, the chief executive of Dominion Resources, parent of Virginia Electric and Power, in response to Farrell's "Doing Power Regulation Right" commentary that appeared yesterday in the Washington Post "Business" section.

In its rebuttal, EPSA sets the record straight on the chronology and unique risks to consumers presented by the Virginia General Assembly's "re-regulation" of the electricity market last year. As stated in the letter, "the General Assembly did not simply 'walk away' from a market-based electricity policy, but instead was pushed hard by Dominion in Richmond to enact an unprecedented regime." EPSA says, "Dominion persuaded state legislators to reduce risks to shareholders while increasing profits by shifting risks to captive Virginia customers."

The full text of the letter appears in the .pdf attachment.

CONTACT: JOHN SHELK
(202) 349-0154or 703-472-8660

EPSA is the national trade association representing competitive power suppliers, including generators and marketers. These suppliers, who account for nearly 40 percent of the installed generating capacity in the United States, provide reliable and competitively priced electricity from environmentally responsible facilities serving global power markets. EPSA seeks to bring the benefits of competition to all power customers.