Connecticut inks 10-year agreement with Millstone Power Station
The State of Connecticut signed a 10-year agreement with the Millstone Power Station to continue to provide electricity for the state.
The facility, owned and operated by Dominion Energy, provides than 90 percent of Connecticut’s carbon-free electricity. The contract is for 10 years, 9 million megawatt hours per year.
“This is a huge win for Connecticut, the region, and our colleagues at Millstone,” Paul Koonce, president & CEO of Dominion’s Power Generation Group said. “Not only does this preserve the vast majority of Connecticut’s carbon-free electricity, it preserves good jobs for the 1,500 women and men who work at Millstone and keeps 4,000 other residents employed.”
This result marks another significant milestone in Dominion Energy’s multi-year progression towards a more regulated and long-term contracted earnings profile and the resulting reduction in business risk. The new contract represents a modest financial uplift for Dominion, which results in expected operating in earnings levels that are within its existing guidance for 2019 and beyond.
Dominion Energy, headquartered in Richmond, Va., serves
approximately 7.5 million customers in 18 states. The company is committed to
sustainable, reliable, affordable and safe energy. It is one of the nation’s
largest producers and transporters of energy. The company has about $100
billion of assets providing electric generation, transmission and distribution,
as well as natural gas storage, transmission distribution and
import/export services. It is also one of the nation’s leading solar operators
as it intends to reduce its carbon intensity 60 percent by 2030.
