PROPERTY, PLANT AND EQUIPMENT

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



At December 31,	2014		2013
(millions)
Dominion
Utility:
Generation	$	15,193	$	14,018
Transmission	9,897		8,686
Distribution	12,354		11,714
Storage	2,350		2,190
Nuclear fuel	1,411		1,375
Gas gathering and processing	791		787
General and other	845		812
Other-including plant under construction	3,633		3,261
Total utility	46,474		42,843
Nonutility:
Merchant generation-nuclear	1,267		1,153
Merchant generation-other	2,023		1,328
Nuclear fuel	860		770
Other-including plant under construction	782		875
Total nonutility	4,932		4,126
Total property, plant and equipment	$	51,406	$	46,969
Virginia Power
Utility:
Generation	$	15,193	$	14,018
Transmission	5,884		4,959
Distribution	9,526		9,103
Nuclear fuel	1,411		1,375
General and other	697		668
Other-including plant under construction	2,464		2,719
Total utility	35,175		32,842
Nonutility-other	5		6
Total property, plant and equipment	$	35,180	$	32,848
Dominion Gas
Utility:
Transmission	$	3,690	$	3,407
Distribution	2,530		2,333
Storage	1,466		1,314
Gas gathering and processing	786		783
General and other	111		103
Plant under construction	179		175
Total utility	8,762		8,115
Nonutility:
E&P properties being amortized and other	140		125
Total nonutility	140		125
Total property, plant and equipment	$	8,902	$	8,240

There were no significant E&P properties under development, as defined by the SEC, excluded from Dominion Gas' amortization at December 31, 2014. As gas and oil reserves are proved through drilling or as properties are deemed to be impaired, excluded costs and any related reserves are transferred on an ongoing, well-by-well basis into the amortization calculation.

Jointly-Owned Power Stations

Dominion's and Virginia Power's proportionate share of jointly-owned power stations at December 31, 2014 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	$	1,039		$	2,426		$	573		$	1,104
Accumulated depreciation	(542		)	(1,137		)	(206		)	(290		)
Nuclear fuel	—			627			—			480
Accumulated amortization of nuclear fuel	—			(486		)	—			(342		)
Plant under construction	11			114			11			71


(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.

Assignments of Marcellus Acreage

In December 2013, DTI closed on agreements with two natural gas producers to convey over time 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, DTI received approximately $100 million in cash proceeds, resulting in an approximately $20 million ($12 million after-tax) gain, recorded to operations and maintenance expense in Dominion Gas' Consolidated Statements of Income. During the twelve months ended December 31, 2014, DTI received $16 million in additional cash proceeds resulting from post-closing adjustments. At December 31, 2014, deferred revenue totaled approximately $85 million, which is expected to be recognized over the remaining term of the agreement.

In November 2014, DTI closed an agreement with a natural gas producer to convey over time approximately 24,000 acres of Marcellus Shale development rights underneath one of its natural gas storage fields. The agreement provides for payments to DTI, subject to customary adjustments, of approximately $120 million over a period of four years, and an overriding royalty interest in gas produced from the acreage. In November 2014, DTI closed on the agreement and received proceeds of approximately $60 million associated with an initial conveyance of approximately 12,000 acres, resulting in an approximately $60 million ($36 million after-tax) gain, recorded to operations and maintenance expense in Dominion Gas' Consolidated Statements of Income.

In November 2014, DTI signed an agreement with a natural gas producer to convey approximately 11,000 acres of Marcellus Shale development rights underneath one of its natural gas storage fields. The agreement provides for a payment to DTI, subject to customary adjustments, of approximately $27 million, and an overriding royalty interest in gas produced from the acreage. DTI expects to close on the agreement in March 2015.