Property, Plant and Equipment

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment, Net [Abstract]

PROPERTY, PLANT AND EQUIPMENT

Major classes of property, plant and equipment and their respective balances for the Companies are as follows:



At December 31,	2013		2012
(millions)
Dominion
Utility:
Generation	$	14,018	$	13,707
Transmission	8,686		7,799
Distribution	11,714		11,071
Storage	2,190		2,137
Nuclear fuel	1,375		1,277
Gas gathering and processing	787		803
General and other	812		803
Other-including plant under construction	3,261		2,232
Total utility	42,843		39,829
Nonutility:
Merchant generation-nuclear	1,153		1,163
Merchant generation-other⁽¹⁾	1,328		1,289
Nuclear fuel	770		775
Other-including plant under construction	875		1,265
Total nonutility	4,126		4,492
Total property, plant and equipment	$	46,969	$	44,321
Virginia Power
Utility:
Generation	$	14,018	$	13,707
Transmission	4,959		4,261
Distribution	9,103		8,701
Nuclear fuel	1,375		1,277
General and other	668		659
Other-including plant under construction	2,719		2,017
Total utility	32,842		30,622
Nonutility-other	6		9
Total property, plant and equipment	$	32,848	$	30,631


(1)	2012 amount includes $957 million due to consolidation of a VIE. See Note 15 for further information.

Jointly-Owned Power Stations

Dominion's and Virginia Power's proportionate share of jointly-owned power stations at December 31, 2013 is as follows:



	Bath County Pumped Storage Station⁽¹⁾			North Anna Units 1 and 2⁽¹⁾			Clover Power Station⁽¹⁾			Millstone Unit 3⁽²⁾
(millions, except percentages)
Ownership interest	60		%	88.4		%	50		%	93.5		%
Plant in service	$	1,038		$	2,486		$	568		$	1,007
Accumulated depreciation	(536		)	(1,109		)	(199		)	(262		)
Nuclear fuel	—			597			—			388
Accumulated amortization of nuclear fuel	—			(434		)	—			(283		)
Plant under construction	23			76			6			69


(1)	Units jointly owned by Virginia Power.


(2)	Unit jointly owned by Dominion.

The co-owners are obligated to pay their share of all future construction expenditures and operating costs of the jointly-owned facilities in the same proportion as their respective ownership interest. Dominion and Virginia Power report their share of operating costs in the appropriate operating expense (electric fuel and other energy-related purchases, other operations and maintenance, depreciation, depletion and amortization and other taxes, etc.) in the Consolidated Statements of Income.

Assignment of Marcellus Acreage

In December 2013, DTI closed on agreements with two natural gas producers to convey approximately 100,000 acres of Marcellus Shale development rights underneath several of its natural gas storage fields. The agreements provide for payments to DTI, subject to customary adjustments, of approximately $200 million over a period of nine years, and an overriding royalty interest in gas produced from the acreage. In 2013, Dominion received approximately $100 million in cash proceeds, resulting in an approximately $20 million ($12 million-after tax) gain and approximately $80 million deferred revenue, which will be recognized over the remaining terms of the agreements.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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