10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark one)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2015

or

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

Commission File Number	Exact name of registrants as specified in their charters, address of principal executive offices and registrants’ telephone number	I.R.S. Employer Identification Number
001-08489	DOMINION RESOURCES, INC.	54-1229715
000-55337	VIRGINIA ELECTRIC AND POWER COMPANY	54-0418825
000-55338	DOMINION GAS HOLDINGS, LLC	46-3639580

120 Tredegar Street

Richmond, Virginia 23219

(804) 819-2000

State or other jurisdiction of incorporation or organization of the registrants: Virginia

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Dominion Resources, Inc.    Yes  x    No  ¨	Virginia Electric and Power Company    Yes  x    No  ¨
Dominion Gas Holdings, LLC    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Dominion Resources, Inc.    Yes  x    No  ¨	Virginia Electric and Power Company    Yes  x    No  ¨
Dominion Gas Holdings, LLC    Yes  x    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Dominion Resources, Inc.

Large accelerated filer	x	Accelerated filer	¨
Non-accelerated filer	¨  (Do not check if a smaller reporting company)	Smaller reporting company	¨

Virginia Electric and Power Company

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	x  (Do not check if a smaller reporting company)	Smaller reporting company	¨

Dominion Gas Holdings, LLC

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	x  (Do not check if a smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Dominion Resources, Inc.    Yes  ¨    No  x	Virginia Electric and Power Company    Yes  ¨    No  x
Dominion Gas Holdings, LLC    Yes  ¨    No  x

At March 31, 2015, the latest practicable date for determination, Dominion Resources, Inc. had 589,330,633 shares of common stock outstanding and Virginia Electric and Power Company had 274,723 shares of common stock outstanding. Dominion Resources, Inc. is the sole holder of Virginia Electric and Power Company’s common stock. Dominion Resources, Inc. holds all of the membership interests of Dominion Gas Holdings, LLC.

This combined Form 10-Q represents separate filings by Dominion Resources, Inc., Virginia Electric and Power Company and Dominion Gas Holdings, LLC. Information contained herein relating to an individual registrant is filed by that registrant on its own behalf. Virginia Electric and Power Company and Dominion Gas Holdings, LLC make no representations as to the information relating to Dominion Resources, Inc.’s other operations.

VIRGINIA ELECTRIC AND POWER COMPANY AND DOMINION GAS HOLDINGS, LLC MEET THE CONDITIONS SET FORTH IN GENERAL INSTRUCTION H(1)(a) AND (b) OF FORM 10-Q AND ARE FILING THIS FORM 10-Q UNDER THE REDUCED DISCLOSURE FORMAT.

COMBINED INDEX

		Page Number
	Glossary of Terms		3
	PART I. Financial Information
Item 1.	Financial Statements		6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		70
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		80
Item 4.	Controls and Procedures		82
	PART II. Other Information
Item 1.	Legal Proceedings		83
Item 1A.	Risk Factors		83
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		83
Item 6.	Exhibits		84

2

GLOSSARY OF TERMS

The following abbreviations or acronyms used in this Form 10-Q are defined below:

Abbreviation or Acronym	Definition
2013 Biennial Review Order	Order issued by the Virginia Commission in November 2013 concluding the 2011-2012 biennial review of Virginia Power’s base rates, terms and conditions
2013 Equity Units	Dominion’s 2013 Series A Equity Units and 2013 Series B Equity Units issued in June 2013
2014 Equity Units	Dominion’s 2014 Series A Equity Units issued in July 2014
AFUDC	Allowance for funds used during construction
AOCI	Accumulated other comprehensive income (loss)
AROs	Asset retirement obligations
ARP	Acid Rain Program, a market-based initiative for emissions allowance trading, established pursuant to Title IV of the CAA
ATEX line	Appalachia to Texas Express ethane line
Atlantic Coast Pipeline	Atlantic Coast Pipeline, LLC, a limited liability company owned by Dominion, Duke Energy Corporation, Piedmont Natural Gas Company, Inc. and AGL Resources Inc.
BACT	Best available control technology
bcf	Billion cubic feet
Bear Garden	A 590 MW combined cycle, natural gas-fired power station in Buckingham County, Virginia
Blue Racer	Blue Racer Midstream, LLC, a joint venture between Dominion and Caiman
BOD	Board of Directors
BP	BP Wind Energy North America Inc.
BREDL	Blue Ridge Environmental Defense League
Bremo	Bremo power station
Brunswick County	A 1,358 MW combined cycle, natural gas-fired power station under construction in Brunswick County, Virginia
CAA	Clean Air Act
Caiman	Caiman Energy II, LLC
CAIR	Clean Air Interstate Rule
CCR	Coal combustion residual
CEO	Chief Executive Officer
CERCLA	Comprehensive Environmental Response, Compensation and Liability Act of 1980, also known as Superfund
CFO	Chief Financial Officer
Chesapeake	Chesapeake power station
CO2	Carbon dioxide
COL	Combined Construction Permit and Operating License
Companies	Dominion, Virginia Power and Dominion Gas, collectively
Cooling degree days	Units measuring the extent to which the average daily temperature is greater than 65 degrees Fahrenheit, calculated as the difference between 65 degrees and the average temperature for that day
Cove Point	Dominion Cove Point LNG, LP
CPCN	Certificate of Public Convenience and Necessity
CSAPR	Cross State Air Pollution Rule
CWA	Clean Water Act
D.C.	District of Columbia
DCGT	Dominion Carolina Gas Transmission, LLC (successor by statutory conversion to and formerly known as Carolina Gas Transmission Corporation)
DEI	Dominion Energy, Inc.
Dominion	The legal entity, Dominion Resources, Inc., one or more of its consolidated subsidiaries (other than Virginia Power and Dominion Gas) or operating segments or the entirety of Dominion Resources, Inc. and its consolidated subsidiaries
Dominion Gas	The legal entity, Dominion Gas Holdings, LLC, one or more of its consolidated subsidiaries or operating segment, or the entirety of Dominion Gas Holdings, LLC and its consolidated subsidiaries
Dominion Iroquois	Dominion Iroquois, Inc., which holds a 24.72% general partnership interest in Iroquois

3

Abbreviation or Acronym	Definition
Dominion Midstream	The legal entity, Dominion Midstream Partners, LP, its consolidated subsidiary Cove Point Holdings, or the entirety of Dominion Midstream Partners, LP, and its consolidated subsidiary
Dominion NGL Pipelines, LLC	The initial owner of the 58-mile G-150 pipeline project, which is designed to transport approximately 27,000 barrels per day of NGLs from Natrium to an interconnect with the ATEX line of Enterprise near Follansbee, West Virginia
DRS	Dominion Resources Services, Inc.
DSM	Demand-side management
Dth	Dekatherm
DTI	Dominion Transmission, Inc.
DVP	Dominion Virginia Power operating segment
East Ohio	The East Ohio Gas Company, doing business as Dominion East Ohio
Enterprise	Enterprise Product Partners, L.P.
EPA	Environmental Protection Agency
EPC	Engineering, procurement and construction
EPS	Earnings per share
FERC	Federal Energy Regulatory Commission
Fowler Ridge	A wind-turbine facility joint venture between Dominion and BP in Benton County, Indiana
FTRs	Financial transmission rights
GAAP	U.S. generally accepted accounting principles
Gal	Gallon
GHG	Greenhouse gas
Heating degree days	Units measuring the extent to which the average daily temperature is less than 65 degrees Fahrenheit, calculated as the difference between 65 degrees and the average temperature for that day
INPO	Institute of Nuclear Power Operations
IRCA	Intercompany revolving credit agreement
Iroquois	Iroquois Gas Transmission System L.P.
ISO	Independent system operator
ISO-NE	ISO New England
Kewaunee	Kewaunee nuclear power station
kV	Kilovolt
Liquefaction Project	A natural gas export/liquefaction facility currently under development by Cove Point
LNG	Liquefied natural gas
Maryland Commission	Public Service Commission of Maryland
MATS	Utility Mercury and Air Toxics Standard Rule
MD&A	Management’s Discussion and Analysis of Financial Condition and Results of Operations
MGD	Million gallons a day
Millstone	Millstone nuclear power station
MISO	Midcontinent Independent Transmission System Operator, Inc.
Moody’s	Moody’s Investors Service
MW	Megawatt
MWh	Megawatt hour
Natrium	A natural gas and fractionation facility located in Natrium, West Virginia, owned by Blue Racer
NCEMC	North Carolina Electric Membership Corporation
NedPower	A wind-turbine facility joint venture between Dominion and Shell in Grant County, West Virginia
NGLs	Natural gas liquids
North Anna	North Anna nuclear power station
Northern System	Collection of approximately 131 miles of various diameter natural gas pipelines in Ohio
NOx	Nitrogen oxide
NPDES	National Pollutant Discharge Elimination System
NRC	Nuclear Regulatory Commission
NSPS	New Source Performance Standards
NYSE	New York Stock Exchange

4

Abbreviation or Acronym	Definition
ODEC	Old Dominion Electric Cooperative
Ohio Commission	Public Utilities Commission of Ohio
Order 1000	Order issued by FERC adopting new requirements for electric transmission planning, cost allocation and development
PIPP	Percentage of Income Payment Plan deployed by East Ohio
PIR	Pipeline Infrastructure Replacement Program deployed by East Ohio
PJM	PJM Interconnection, L.L.C.
Possum Point	Possum Point power station
ppb	Parts-per-billion
PSD	Prevention of Significant Deterioration
Rider B	A rate adjustment clause associated with the recovery of costs related to the conversion of three of Virginia Power’s coal-fired power stations to biomass
Rider BW	A rate adjustment clause associated with the recovery of costs related to Brunswick County
Rider R	A rate adjustment clause associated with the recovery of costs related to Bear Garden
Rider S	A rate adjustment clause associated with the recovery of costs related to the Virginia City Hybrid Energy Center
Riders C1A and C2A	Rate adjustment clauses associated with the recovery of costs related to certain DSM programs approved in DSM cases
ROE	Return on equity
RTO	Regional transmission organization
SEC	Securities and Exchange Commission
SELC	Southern Environmental Law Center
Shell	Shell WindEnergy, Inc.
SO2	Sulfur dioxide
Standard & Poor’s	Standard & Poor’s Ratings Services, a division of McGraw Hill Financial, Inc.
U.S.	United States of America
UAO	Unilateral Administrative Order
VDEQ	Virginia Department of Environmental Quality
VEBA	Voluntary Employees’ Beneficiary Association
VIE	Variable interest entity
Virginia City Hybrid Energy Center	A 600 MW baseload carbon-capture compatible, clean coal powered electric generation facility in Wise County, Virginia
Virginia Commission	Virginia State Corporation Commission
Virginia Power	The legal entity, Virginia Electric and Power Company, one or more of its consolidated subsidiaries or operating segments or the entirety of Virginia Power and its consolidated subsidiaries
WVDEP	West Virginia Department of Environmental Protection
Yorktown	Yorktown power station

5

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

DOMINION RESOURCES, INC.

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three Months Ended March 31,
	2015		2014
(millions, except per share amounts)
Operating Revenue	$	3,409	$	3,630
Operating Expenses
Electric fuel and other energy-related purchases		953		1,334
Purchased electric capacity		94		88
Purchased gas		250		540
Other operations and maintenance		602		425
Depreciation, depletion and amortization		343		308
Other taxes		165		167
Total operating expenses		2,407		2,862
Income from operations		1,002		768
Other income		60		40
Interest and related charges		223		237
Income from continuing operations including noncontrolling interests before income tax expense		839		571
Income tax expense		299		186
Net Income Including Noncontrolling Interests		540		385
Noncontrolling Interests		4		6
Net Income Attributable to Dominion	$	536	$	379
Earnings Per Common Share - Basic and Diluted
Net income attributable to Dominion	$	0.91	$	0.65
Dividends declared per common share	$	0.6475	$	0.6000

The accompanying notes are an integral part of Dominion’s Consolidated Financial Statements.

6

DOMINION RESOURCES, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	Three Months Ended March 31,
	2015			2014
(millions)
Net income including noncontrolling interests	$	540		$	385
Other comprehensive income (loss), net of taxes:
Net deferred losses on derivatives-hedging activities(1)		(58	)		(150	)
Changes in unrealized net gains on investment securities(2)		15			29
Changes in unrecognized pension and other postretirement benefit costs(3)		—			(4	)
Amounts reclassified to net income:
Net derivative losses-hedging activities(4)		59			160
Net realized gains on investment securities(5)		(21	)		(11	)
Net pension and other postretirement benefit costs(6)		13			8
Changes in other comprehensive loss from equity method investees		(1	)		(7	)
Total other comprehensive income		7			25
Comprehensive income including noncontrolling interests		547			410
Comprehensive income attributable to noncontrolling interests		4			6
Comprehensive income attributable to Dominion	$	543		$	404

(1) Net of $41 million and $80 million tax for the three months ended March 31, 2015 and 2014, respectively.

(2) Net of $(11) million and $(1) million tax for the three months ended March 31, 2015 and 2014, respectively.

(3) Net of $     million and $(4) million tax for the three months ended March 31, 2015 and 2014, respectively.

(4) Net of $(39) million and $(100) million tax for the three months ended March 31, 2015 and 2014, respectively.

(5) Net of $12 million and $7 million tax for the three months ended March 31, 2015 and 2014, respectively

(6) Net of $(9) million and $(6) million tax for the three months ended March 31, 2015 and 2014, respectively.

The accompanying notes are an integral part of Dominion’s Consolidated Financial Statements.

7

DOMINION RESOURCES, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

	March 31, 2015			December 31, 2014(1)
(millions)
ASSETS
Current Assets
Cash and cash equivalents	$	275		$	318
Customer receivables (less allowance for doubtful accounts of $34 at both dates)		1,589			1,514
Other receivables (less allowance for doubtful accounts of $2 and $3)		113			119
Inventories		1,227			1,410
Prepayments		163			167
Deferred income taxes		673			800
Other		1,013			1,287
Total current assets		5,053			5,615
Investments
Nuclear decommissioning trust funds		4,244			4,196
Investment in equity method affiliates		1,085			1,081
Other		288			284
Total investments		5,617			5,561
Property, Plant and Equipment
Property, plant and equipment		52,720			51,406
Accumulated depreciation, depletion and amortization		(15,494	)		(15,136	)
Total property, plant and equipment, net		37,226			36,270
Deferred Charges and Other Assets
Goodwill		3,294			3,044
Pension and other postretirement benefit assets		979			956
Regulatory assets		1,665			1,642
Other		1,322			1,239
Total deferred charges and other assets		7,260			6,881
Total assets	$	55,156		$	54,327

(1) Dominion’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

The accompanying notes are an integral part of Dominion’s Consolidated Financial Statements.

8

DOMINION RESOURCES, INC.

CONSOLIDATED BALANCE SHEETS—(Continued)

(Unaudited)

	March 31, 2015			December 31, 2014(1)
(millions)
LIABILITIES AND EQUITY
Current Liabilities
Securities due within one year	$	1,822		$	1,375
Short-term debt		3,200			2,775
Accounts payable		945			952
Derivative liabilities		600			591
Other		1,454			1,505
Total current liabilities		8,021			7,198
Long-Term Debt
Long-term debt		17,896			18,348
Junior subordinated notes		1,373			1,374
Remarketable subordinated notes		2,084			2,083
Total long-term debt		21,353			21,805
Deferred Credits and Other Liabilities
Deferred income taxes and investment tax credits		7,577			7,444
Asset retirement obligations		1,645			1,633
Regulatory liabilities		2,119			1,991
Other		2,025			2,299
Total deferred credits and other liabilities		13,366			13,367
Total liabilities		42,740			42,370
Commitments and Contingencies (see Note 15)
Equity
Common stock – no par(2)		6,170			5,876
Retained earnings		6,250			6,095
Accumulated other comprehensive loss		(409	)		(416	)
Total common shareholders’ equity		12,011			11,555
Noncontrolling interests		405			402
Total equity		12,416			11,957
Total liabilities and equity	$	55,156		$	54,327

(1) Dominion’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

(2) 1 billion shares authorized; 589 million shares and 585 million shares outstanding at March 31, 2015 and December 31, 2014, respectively.

The accompanying notes are an integral part of Dominion’s Consolidated Financial Statements.

9

DOMINION RESOURCES, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Three Months Ended March 31,	2015			2014
(millions)
Operating Activities
Net income including noncontrolling interests	$	540		$	385
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities:
Depreciation, depletion and amortization (including nuclear fuel)		414			378
Deferred income taxes and investment tax credits		277			232
Gains on the sale of assets and businesses		(70	)		(159	)
Other adjustments		(40	)		(34	)
Changes in:
Accounts receivable		(65	)		(183	)
Inventories		148			163
Deferred fuel and purchased gas costs, net		(33	)		(304	)
Accounts payable		(85	)		53
Accrued interest, payroll and taxes		(15	)		(55	)
Margin deposit assets and liabilities		111			105
Other operating assets and liabilities		(51	)		172
Net cash provided by operating activities		1,131			753
Investing Activities
Plant construction and other property additions (including nuclear fuel)		(1,014	)		(1,120	)
Acquisition of solar development projects		—			(47	)
Acquisition of DCGT		(495	)		—
Proceeds from sales of securities		337			442
Purchases of securities		(304	)		(441	)
Proceeds from the sale of electric retail energy marketing business		—			187
Proceeds from the sale of assets to Blue Racer		—			84
Proceeds from assignments of Marcellus acreage		27			—
Other		(50	)		(24	)
Net cash used in investing activities		(1,499	)		(919	)
Financing Activities
Issuance of short-term debt, net		425			45
Issuance of long-term debt		—			1,150
Repayment and repurchase of long-term debt		(3	)		(608	)
Subsidiary preferred stock redemption		—			(125	)
Issuance of common stock		295			—
Common dividend payments		(381	)		(349	)
Distributions to Dominion Midstream public unitholders		(3	)		—
Subsidiary preferred dividend payments		—			(4	)
Other		(8	)		(31	)
Net cash provided by financing activities		325			78
Decrease in cash and cash equivalents		(43	)		(88	)
Cash and cash equivalents at beginning of period		318			316
Cash and cash equivalents at end of period	$	275		$	228
Supplemental Cash Flow Information
Significant noncash investing activities:
Accrued capital expenditures	$	353		$	261

The accompanying notes are an integral part of Dominion’s Consolidated Financial Statements.

10

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three Months Ended March 31,
	2015		2014
(millions)
Operating Revenue(1)	$	2,137	$	1,983
Operating Expenses
Electric fuel and other energy-related purchases(1)		810		650
Purchased electric capacity		94		88
Other operations and maintenance:
Affiliated suppliers		75		71
Other		321		270
Depreciation and amortization		238		218
Other taxes		74		73
Total operating expenses		1,612		1,370
Income from operations		525		613
Other income		15		15
Interest and related charges		108		107
Income before income tax expense		432		521
Income tax expense		163		197
Net Income		269		324
Preferred dividends		—		6
Balance available for common stock	$	269	$	318

(1) See Note 17 for amounts attributable to affiliates.

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

11

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	Three Months Ended March 31,
	2015			2014
(millions)
Net income	$	269		$	324
Other comprehensive income (loss), net of taxes:
Net deferred gains (losses) on derivatives-hedging activities(1)		(4	)		2
Changes in unrealized net gains on nuclear decommissioning trust funds(2)		1			2
Amounts reclassified to net income:
Net derivative (gains) losses-hedging activities(3)		1			(3	)
Net realized gains on nuclear decommissioning trust funds(4)		(1	)		(2	)
Other comprehensive loss		(3	)		(1	)
Comprehensive income	$	266		$	323

(1) Net of $2 million and $(1) million tax for the three months ended March 31, 2015 and 2014, respectively.

(2) Net of $(1) million and $(2) million tax for the three months ended March 31, 2015 and 2014, respectively.

(3) Net of $     million and $2 million tax for the three months ended March 31, 2015 and 2014, respectively.

(4) Net of $     million and $1 million tax for the three months ended March 31, 2015 and 2014, respectively.

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

12

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED BALANCE SHEETS

(Unaudited)

	March 31, 2015			December 31, 2014(1)
(millions)
ASSETS
Current Assets
Cash and cash equivalents	$	16		$	15
Customer receivables (less allowance for doubtful accounts of $25 at both dates)		1,018			986
Other receivables (less allowance for doubtful accounts of $1 at both dates)		53			65
Inventories (average cost method)		768			853
Prepayments		38			252
Regulatory assets		339			298
Other(2)		32			82
Total current assets		2,264			2,551
Investments
Nuclear decommissioning trust funds		1,950			1,930
Other		4			4
Total investments		1,954			1,934
Property, Plant and Equipment
Property, plant and equipment		35,684			35,180
Accumulated depreciation and amortization		(11,255	)		(11,080	)
Total property, plant and equipment, net		24,429			24,100
Deferred Charges and Other Assets
Regulatory assets		464			439
Other(2)		525			485
Total deferred charges and other assets		989			924
Total assets	$	29,636		$	29,509

(1) Virginia Power’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

(2) See Note 17 for amounts attributable to affiliates.

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

13

	March 31, 2015		December 31, 2014(1)
(millions)
LIABILITIES AND SHAREHOLDER’S EQUITY
Current Liabilities
Securities due within one year	$	661	$	211
Short-term debt		1,588		1,361
Accounts payable		456		458
Payables to affiliates		72		92
Affiliated current borrowings		10		427
Accrued interest, payroll and taxes		315		199
Other		505		528
Total current liabilities		3,607		3,276
Long-Term Debt		8,275		8,726
Deferred Credits and Other Liabilities
Deferred income taxes and investment tax credits		4,435		4,415
Asset retirement obligations		854		848
Regulatory liabilities		1,769		1,683
Other(2)		523		506
Total deferred credits and other liabilities		7,581		7,452
Total liabilities		19,463		19,454
Commitments and Contingencies (see Note 15)
Common Shareholder’s Equity
Common stock – no par(3)		5,738		5,738
Other paid-in capital		1,113		1,113
Retained earnings		3,275		3,154
Accumulated other comprehensive income		47		50
Total common shareholder’s equity		10,173		10,055
Total liabilities and shareholder’s equity	$	29,636	$	29,509

(1) Virginia Power’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

(2) See Note 17 for amounts attributable to affiliates.

(3) 500,000 shares authorized; 274,723 shares outstanding at March 31, 2015 and December 31, 2014.

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

14

VIRGINIA ELECTRIC AND POWER COMPANY

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Three Months Ended March 31,	2015			2014
(millions)
Operating Activities
Net income	$	269		$	324
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (including nuclear fuel)		281			263
Deferred income taxes and investment tax credits		67			203
Other adjustments		(7	)		(12	)
Changes in:
Accounts receivable		(20	)		(9	)
Inventories		85			91
Prepayments		214			(15	)
Deferred fuel expenses, net (including write-off)		(54	)		(328	)
Accounts payable		3			34
Accrued interest, payroll and taxes		116			10
Other operating assets and liabilities		7			39
Net cash provided by operating activities		961			600
Investing Activities
Plant construction and other property additions		(583	)		(691	)
Purchases of nuclear fuel		(23	)		(68	)
Purchases of securities		(138	)		(215	)
Proceeds from sales of securities		133			204
Other		(11	)		(6	)
Net cash used in investing activities		(622	)		(776	)
Financing Activities
Issuance (repayment) of short-term debt, net		227			(339	)
Issuance (repayment) of affiliated current borrowings, net		(417	)		62
Issuance of long-term debt		—			750
Preferred stock redemption		—			(125	)
Common dividend payments		(149	)		(149	)
Preferred dividend payments		—			(4	)
Other		1			(11	)
Net cash provided by (used in) financing activities		(338	)		184
Increase in cash and cash equivalents		1			8
Cash and cash equivalents at beginning of period		15			16
Cash and cash equivalents at end of period	$	16		$	24
Supplemental Cash Flow Information
Significant noncash investing activities:
Accrued capital expenditures	$	139		$	203

The accompanying notes are an integral part of Virginia Power’s Consolidated Financial Statements.

15

DOMINION GAS HOLDINGS, LLC

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three Months Ended March 31,
	2015		2014
(millions)
Operating Revenue(1)	$	531	$	569
Operating Expenses
Purchased gas(1)		74		137
Other energy-related purchases		6		16
Other operations and maintenance:
Affiliated suppliers		21		21
Other(2)		53		32
Depreciation and amortization		51		47
Other taxes		55		51
Total operating expenses		260		304
Income from operations		271		265
Other income		9		8
Interest and related charges		17		6
Income from operations before income taxes		263		267
Income tax expense		102		103
Net Income	$	161	$	164

(1) See Note 17 for amounts attributable to related parties.

(2) Includes gains on the sales of assets to related parties of $59 million in 2014. See Note 10 for more information.

The accompanying notes are an integral part of Dominion Gas’ Consolidated Financial Statements.

16

DOMINION GAS HOLDINGS, LLC

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	Three Months Ended March 31,
	2015			2014
(millions)
Net income	$	161		$	164
Other comprehensive income (loss), net of taxes:
Net deferred losses on derivatives-hedging activities(1)		(4	)		(8	)
Amounts reclassified to net income:
Net derivative losses-hedging activities(2)		—			5
Net pension and other postretirement benefit costs(3)		1			1
Other comprehensive loss		(3	)		(2	)
Comprehensive income	$	158		$	162

(1) Net of $2 million and $5 million tax for the three months ended March 31, 2015 and 2014, respectively.

(2) Net of $     million and $(3) million tax for the three months ended March 31, 2015 and 2014, respectively.

(3) Net of $(1) million tax for both the three months ended March 31, 2015 and 2014.

The accompanying notes are an integral part of Dominion Gas’ Consolidated Financial Statements.

17

DOMINION GAS HOLDINGS, LLC

CONSOLIDATED BALANCE SHEETS

(Unaudited)

	March 31,     2015			December 31, 2014(1)
(millions)
ASSETS
Current Assets
Cash and cash equivalents	$	19		$	9
Customer receivables (less allowance for doubtful accounts of $4 at both dates)(2)		350			322
Other receivables (less allowance for doubtful accounts of $1 at both dates)		15			19
Affiliated receivables		5			12
Inventories		67			65
Prepayments		64			166
Other(2)		198			217
Total current assets		718			810
Investments		104			108
Property, Plant and Equipment
Property, plant and equipment		8,993			8,902
Accumulated depreciation and amortization		(2,568	)		(2,538	)
Total property, plant and equipment, net		6,425			6,364
Deferred Charges and Other Assets
Goodwill		542			542
Intangible assets, net		83			79
Regulatory assets		390			379
Pension and other postretirement benefit assets(2)		1,516			1,486
Other(2)		81			80
Total deferred charges and other assets		2,612			2,566
Total assets	$	9,859		$	9,848

(1) Dominion Gas’ Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

(2) See Note 17 for amounts attributable to related parties.

The accompanying notes are an integral part of Dominion Gas’ Consolidated Financial Statements.

18

DOMINION GAS HOLDINGS, LLC

CONSOLIDATED BALANCE SHEETS—(Continued)

(Unaudited)

	March 31,     2015			December 31, 2014(1)
(millions)
LIABILITIES AND EQUITY
Current Liabilities
Short-term debt	$	280		$	—
Accounts payable		209			247
Payables to affiliates		40			41
Affiliated current borrowings		39			384
Accrued interest, payroll and taxes		243			194
Other(2)		163			172
Total current liabilities		974			1,038
Long-Term Debt		2,594			2,594
Deferred Credits and Other Liabilities
Deferred income taxes and investment tax credits		2,197			2,158
Other(2)		465			492
Total deferred credits and other liabilities		2,662			2,650
Total liabilities		6,230			6,282
Commitments and Contingencies (see Note 15)
Equity
Membership interests		3,718			3,652
Accumulated other comprehensive loss(2)		(89	)		(86	)
Total equity		3,629			3,566
Total liabilities and equity	$	9,859		$	9,848

(1) Dominion Gas’ Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

(2) See Note 17 for amounts attributable to related parties.

The accompanying notes are an integral part of Dominion Gas’ Consolidated Financial Statements.

19

DOMINION GAS HOLDINGS, LLC

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Three Months Ended March 31,	2015			2014
(millions)
Operating Activities
Net income	$	161		$	164
Adjustments to reconcile net income to net cash provided by operating activities:
Gains on sales of assets		(70	)		(59	)
Depreciation and amortization		51			47
Deferred income taxes and investment tax credits		36			27
Other adjustments		3			(2	)
Changes in:
Accounts receivable		(24	)		(154	)
Deferred purchased gas costs, net		16			29
Prepayments		102			10
Accounts payable		(33	)		(16	)
Accrued interest, payroll and taxes		49			73
Other operating assets and liabilities		(18	)		(6	)
Net cash provided by operating activities		273			113
Investing Activities
Plant construction and other property additions		(128	)		(107	)
Proceeds from sale of assets to an affiliate		—			30
Proceeds from assignments of Marcellus acreage		27			—
Other		(1	)		(2	)
Net cash used in investing activities		(102	)		(79	)
Financing Activities
Issuance of short-term debt, net		280			—
Issuance (repayment) of affiliated current borrowings, net		(345	)		51
Distribution payments		(95	)		(78	)
Other		(1	)		(1	)
Net cash used in financing activities		(161	)		(28	)
Increase in cash and cash equivalents		10			6
Cash and cash equivalents at beginning of period		9			8
Cash and cash equivalents at end of period	$	19		$	14
Supplemental Cash Flow Information
Significant noncash investing and financing activities:
Accrued capital expenditures	$	22		$	24
Proceeds from sale of assets to affiliate not yet received		—			17
Extinguishment of affiliated long-term debt in exchange for assets sold to affiliate		—			67

The accompanying notes are an integral part of Dominion Gas’ Consolidated Financial Statements.

20

COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Note 1. Nature of Operations

Dominion, headquartered in Richmond, Virginia, is one of the nation’s largest producers and transporters of energy. Dominion’s operations are conducted through various subsidiaries, including Virginia Power and Dominion Gas. Virginia Power is a regulated public utility that generates, transmits and distributes electricity for sale in Virginia and northeastern North Carolina. Dominion Gas is a holding company that conducts business activities through a regulated interstate natural gas transmission pipeline and underground storage system in the Northeast, mid-Atlantic and Midwest states, regulated gas transportation and distribution operations in Ohio, and gas gathering and processing activities primarily in West Virginia, Ohio and Pennsylvania. Dominion Gas’ wholly-owned subsidiaries are DTI, East Ohio and Dominion Iroquois.

Note 2. Significant Accounting Policies

As permitted by the rules and regulations of the SEC, the Companies’ accompanying unaudited Consolidated Financial Statements contain certain condensed financial information and exclude certain footnote disclosures normally included in annual audited consolidated financial statements prepared in accordance with GAAP. These unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014.

In the Companies’ opinion, the accompanying unaudited Consolidated Financial Statements contain all adjustments necessary to present fairly their financial position as of March 31, 2015 and their results of operations and cash flows for the three months ended March 31, 2015 and 2014. Such adjustments are normal and recurring in nature unless otherwise noted.

The Companies make certain estimates and assumptions in preparing their Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates.

The Companies’ accompanying unaudited Consolidated Financial Statements include, after eliminating intercompany transactions and balances, their accounts and those of their respective majority-owned subsidiaries. As of March 31, 2015, Dominion owns the general partner and 68.5% of the limited partner interests in Dominion Midstream, which owns a preferred equity interest and the general partner interest in Cove Point. The public’s ownership interest in Dominion Midstream is reflected as non-controlling interest in Dominion’s Consolidated Financial Statements.

The results of operations for interim periods are not necessarily indicative of the results expected for the full year. Information for quarterly periods is affected by seasonal variations in sales, rate changes, electric fuel and other energy-related purchases, purchased gas expenses and other factors.

Certain amounts in the Companies’ 2014 Consolidated Financial Statements and Notes have been reclassified to conform to the 2015 presentation for comparative purposes. The reclassifications did not affect the Companies’ net income, total assets, liabilities, equity or cash flows.

Amounts disclosed for Dominion are inclusive of Virginia Power and/or Dominion Gas, where applicable.

Note 3. Acquisitions and Dispositions

Dominion

Acquisition of Solar Projects

In March 2014, Dominion completed the acquisition of 100% of the equity interests of six solar development projects in California from Recurrent Energy Development Holdings, LLC for approximately $50 million in cash. The projects cost approximately $446 million to construct, including the initial acquisition cost. The facilities, which began commercial operations in the fourth quarter of 2014, generate approximately 139 MW.

The purchase price for this acquisition was allocated to Property, Plant and Equipment.

In April 2015, Dominion completed the acquisition of 100% of the equity interests of a solar project in California from EC&R NA Solar PV, LLC for approximately $66 million in cash. The project is expected to cost approximately $69 million once constructed, including the initial acquisition cost. Upon completion, the facility is expected to generate approximately 20 MW.

21

In April 2015, Dominion also completed the acquisition of 100% of the equity interests of a solar project in California from EDF Renewable Development, Inc. for approximately $106 million in cash. The projects owned by the acquired company are expected to cost approximately $111 million once constructed, including the initial acquisition cost. Upon completion, the facilities are expected to generate approximately 24 MW.

The allocation of the purchase price to individual assets for these investments is under evaluation by management and has not been finalized.

Long-term power purchase, interconnection and operation and maintenance agreements have been executed for each of the projects. Dominion expects to claim federal investment tax credits on the projects.

Acquisition of DCGT

In January 2015, Dominion completed the acquisition of 100% of the equity interests of DCGT from SCANA Corporation for approximately $495 million in cash, subject to final working capital adjustments. DCGT owns and operates nearly 1,500 miles of FERC-regulated interstate natural gas pipeline in South Carolina and southeastern Georgia. This acquisition supports Dominion’s natural gas expansion into the Southeast. The allocation of the purchase price is currently being evaluated and has preliminarily resulted in approximately $277 million of net property, plant and equipment, $250 million of goodwill, of which approximately $225 million is expected to be deductible for income tax purposes, and approximately $38 million of regulatory liabilities. The goodwill reflects the value associated with enhancing Dominion’s regulated gas position, economic value attributable to future expansion projects as well as increased opportunities for synergies. The acquired assets of DCGT are included in the Dominion Energy operating segment.

On March 24, 2015, DCGT converted to a limited liability company under the laws of South Carolina and changed its name from Carolina Gas Transmission Corporation to DCGT. On April 1, 2015, Dominion contributed 100% of the issued and outstanding membership interests of DCGT to Dominion Midstream in exchange for total consideration of $495 million, subject to final working capital adjustments. Total consideration to Dominion consisted of the issuance of a two-year, approximately $295 million senior unsecured promissory note payable by Dominion Midstream at an annual interest rate of 0.6%, and 5,112,139 common units, valued at $200 million, representing limited partner interests in Dominion Midstream. The amount of the promissory note is subject to change to correspond with any working capital adjustments. The number of units was based on the volume weighted average trading price of Dominion Midstream’s common units for the ten trading days prior to April 1, 2015, or $39.12 per unit. Since Dominion consolidates Dominion Midstream for financial reporting purposes, this transaction was eliminated upon consolidation and did not impact Dominion’s financial position or cash flow.

Sale of Electric Retail Energy Marketing Business

In March 2014, Dominion completed the sale of its electric retail energy marketing business. The proceeds were approximately $187 million, net of transaction costs. The sale resulted in a gain, subject to post-closing adjustments, of approximately $100 million ($57 million after-tax) net of a $31 million write-off of goodwill, and is included in other operations and maintenance expense in Dominion’s Consolidated Statements of Income. The sale of the electric retail energy marketing business did not qualify for discontinued operations classification.

Dominion Gas

Assignments of Marcellus Acreage

In December 2013, DTI closed an agreement with a natural gas producer to convey over time approximately 79,000 acres of Marcellus Shale development rights underneath one of its natural gas storage fields. The agreement provided for payments to DTI, subject to customary adjustments, of up to 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 $82 million in cash proceeds. 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. In March 2015, DTI and the natural gas producer closed on an amendment to the agreement, which included the immediate conveyance of approximately 9,000 acres of Marcellus Shale development rights and a two year extension of the term of the original agreement. The conveyance of development rights resulted in the recognition of $43 million ($27 million after-tax) of previously deferred revenue to operations and maintenance expense in Dominion Gas’ Consolidated Statements of Income. At March 31, 2015, deferred revenue totaled approximately $40 million, which is expected to be recognized over the remaining term of the agreement.

In March 2015, DTI closed 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 provided for a payment to DTI, subject to customary adjustments, of approximately $27 million, and an overriding royalty interest in gas produced from the acreage. In March 2015, DTI received proceeds of $27 million associated with the conveyance of the acreage, resulting in a $27 million ($16 million after-tax) gain, included in other operations and maintenance expense in Dominion Gas’ Consolidated Statements of Income.

22

Dominion and Dominion Gas

Blue Racer

See Note 10 for a discussion of transactions related to Blue Racer.

Note 4. Operating Revenue

The Companies’ operating revenue consists of the following:

	Three Months Ended March 31,
	2015		2014
(millions)
Dominion
Electric sales:
Regulated	$	2,112	$	1,951
Nonregulated		406		854
Gas sales:
Regulated		116		147
Nonregulated		208		117
Gas transportation and storage		471		444
Other		96		117
Total operating revenue	$	3,409	$	3,630
Virginia Power
Regulated electric sales	$	2,112	$	1,951
Other		25		32
Total operating revenue	$	2,137	$	1,983
Dominion Gas
Gas sales:
Regulated	$	57	$	83
Nonregulated		3		9
Gas transportation and storage		412		396
NGL revenue		29		57
Other		30		24
Total operating revenue	$	531	$	569

Note 5. Income Taxes

For continuing operations, including noncontrolling interests, the statutory U.S. federal income tax rate reconciles to the Companies’ effective income tax rate as follows:

	Dominion						Virginia Power						Dominion Gas
Three Months Ended March 31,	2015			2014			2015			2014			2015			2014
U.S. statutory rate		35.0	%		35.0	%		35.0	%		35.0	%		35.0	%		35.0	%
Increases (reductions) resulting from:
State taxes, net of federal benefit		2.9			2.7			3.8			3.8			4.0			3.4
Investment tax credits		(0.8	)		(3.6	)		—			—			—			—
Production tax credits		(0.8	)		(0.6	)		(0.4	)		(0.8	)		—			—
Other, net		(0.6	)		(0.8	)		(0.7	)		(0.2	)		(0.1	)		0.3
Effective tax rate		35.7	%		32.7	%		37.7	%		37.8	%		38.9	%		38.7	%

As of March 31, 2015, there have been no material changes in the Companies’ unrecognized tax benefits or possible changes that could reasonably be expected to occur during the next twelve months. See Note 5 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014 for a discussion of these unrecognized tax benefits.

23

Note 6. Earnings Per Share

The following table presents the calculation of Dominion’s basic and diluted EPS:

	Three Months Ended March 31,
	2015		2014
(millions, except EPS)
Net income attributable to Dominion	$	536	$	379
Average shares of common stock outstanding – Basic		587.9		581.6
Net effect of dilutive securities(1)		2.0		1.3
Average shares of common stock outstanding – Diluted		589.9		582.9
Earnings Per Common Share – Basic and Diluted	$	0.91	$	0.65

(1) Dilutive securities consist primarily of the 2013 Equity Units for 2015 and contingently convertible senior notes and the 2013 Equity Units for 2014. See Note 14 in this report and Note 17 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014 for more information.

The 2014 Equity Units are potentially dilutive securities but were excluded from the calculation of diluted EPS for the three months ended March 31, 2015, as the dilutive stock price threshold was not met. There were no potentially dilutive securities excluded from the calculation of diluted EPS for the three months ended March 31, 2014.

Note 7. Accumulated Other Comprehensive Income

Dominion

The following table presents Dominion’s changes in AOCI by component, net of tax:

	Deferred gains and losses on derivatives- hedging activities			Unrealized gains and losses on investment securities			Unrecognized pension and other postretirement benefit costs			Other comprehensive income (loss) from equity method investee			Total
(millions)
Three Months Ended March 31, 2015
Beginning balance	$	(178	)	$	548		$	(782	)	$	(4	)	$	(416	)
Other comprehensive income before reclassifications: gains (losses)		(58	)		15			—			(1	)		(44	)
Amounts reclassified from AOCI(1): (gains) losses		59			(21	)		13			—			51
Net current-period other comprehensive income (loss)		1			(6	)		13			(1	)		7
Ending balance	$	(177	)	$	542		$	(769	)	$	(5	)	$	(409	)
Three Months Ended March 31, 2014
Beginning balance	$	(288	)	$	474		$	(510	)	$	—		$	(324	)
Other comprehensive income before reclassifications: gains (losses)		(150	)		29			(4	)		(7	)		(132	)
Amounts reclassified from AOCI(1): (gains) losses		160			(11	)		8			—			157
Net current-period other comprehensive income (loss)		10			18			4			(7	)		25
Ending balance	$	(278	)	$	492		$	(506	)	$	(7	)	$	(299	)

(1) See table below for details about these reclassifications.

24

The following table presents Dominion’s reclassifications out of AOCI by component:

Details about AOCI components	Amounts reclassified from AOCI			Affected line item in the Consolidated Statements of Income
(millions)
Three Months Ended March 31, 2015
Deferred (gains) and losses on derivatives-hedging activities:
Commodity contracts	$	92		Operating revenue
		5		Purchased gas
		(1	)	Electric fuel and other energy-related purchases
Interest rate contracts		2		Interest and related charges
		98
Tax		(39	)	Income tax expense
	$	59
Unrealized (gains) and losses on investment securities:
Realized (gain) loss on sale of securities	$	(39	)	Other income
Impairment		6		Other income
		(33	)
Tax		12		Income tax expense
	$	(21	)
Unrecognized pension and other postretirement benefit costs:
Prior service (credit) costs	$	(3	)	Other operations and maintenance
Actuarial (gains) losses		25		Other operations and maintenance
		22
Tax		(9	)	Income tax expense
	$	13
Three Months Ended March 31, 2014
Deferred (gains) and losses on derivatives-hedging activities:
Commodity contracts	$	269		Operating revenue
		1		Purchased gas
		(13	)	Electric fuel and other energy-related purchases
Interest rate contracts		3		Interest and related charges
		260
Tax		(100	)	Income tax expense
	$	160
Unrealized (gains) and losses on investment securities:
Realized (gain) loss on sale of securities	$	(20	)	Other income
Impairment		2		Other income
		(18	)
Tax		7		Income tax expense
	$	(11	)
Unrecognized pension and other postretirement benefit costs:
Prior service (credit) costs	$	(3	)	Other operations and maintenance
Actuarial (gains) losses		17		Other operations and maintenance
		14
Tax		(6	)	Income tax expense
	$	8

25

Dominion Gas

The following table presents Dominion Gas’ changes in AOCI by component, net of tax:

	Deferred gains and losses on derivatives- hedging activities			Unrecognized pension and other postretirement benefit costs			Total
(millions)
Three Months Ended March 31, 2015
Beginning balance	$	(20	)	$	(66	)	$	(86	)
Other comprehensive income before reclassifications: gains (losses)		(4	)		—			(4	)
Amounts reclassified from AOCI(1): (gains) losses		—			1			1
Net current-period other comprehensive income (loss)		(4	)		1			(3	)
Ending balance	$	(24	)	$	(65	)	$	(89	)
Three Months Ended March 31, 2014
Beginning balance	$	3		$	(61	)	$	(58	)
Other comprehensive income before reclassifications: gains (losses)		(8	)		—			(8	)
Amounts reclassified from AOCI(1): (gains) losses		5			1			6
Net current-period other comprehensive income (loss)		(3	)		1			(2	)
Ending balance	$	—		$	(60	)	$	(60	)

(1) See table below for details about these reclassifications.

The following table presents Dominion Gas’ reclassifications out of AOCI by component:

Details about AOCI components	Amounts reclassified from AOCI			Affected line item in the Consolidated Statements of Income
(millions)
Three Months Ended March 31, 2015
Unrecognized pension and other postretirement benefit costs:
Actuarial (gains) losses	$	2		Other operations and maintenance
		2
Tax		(1	)	Income tax expense
	$	1
Three Months Ended March 31, 2014
Deferred (gains) and losses on derivatives-hedging activities:
Commodity contracts	$	6		Operating revenue
		2		Purchased gas
		8
Tax		(3	)	Income tax expense
	$	5
Unrecognized pension and other postretirement benefit costs:
Actuarial (gains) losses	$	2		Other operations and maintenance
		2
Tax		(1	)	Income tax expense
	$	1

Note 8. Fair Value Measurements

The Companies’ fair value measurements are made in accordance with the policies discussed in Note 6 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014. See Note 9 in this report for further information about the Companies’ derivatives and hedge accounting activities.

26

The Companies enter into certain physical and financial forwards, futures, options and swaps, which are considered Level 3 as they have one or more inputs that are not observable and are significant to the valuation. The discounted cash flow method is used to value Level 3 physical and financial forwards and futures contracts. An option model is used to value Level 3 physical and financial options. The discounted cash flow model for forwards and futures calculates mark-to-market valuations based on forward market prices, original transaction prices, volumes, risk-free rate of return, and credit spreads. The option model calculates mark-to-market valuations using variations of the Black-Scholes option model. The inputs into the models are the forward market prices, implied price volatilities, risk-free rate of return, the option expiration dates, the option strike prices, the original sales prices, and volumes. For Level 3 fair value measurements, forward market prices, credit spreads and implied price volatilities are considered unobservable. The unobservable inputs are developed and substantiated using historical information, available market data, third-party data, and statistical analysis. Periodically, inputs to valuation models are reviewed and revised as needed, based on historical information, updated market data, market liquidity and relationships, and changes in third-party pricing sources.

The following table presents Dominion’s quantitative information about Level 3 fair value measurements at March 31, 2015. The range and weighted average are presented in dollars for market price inputs and percentages for credit spreads and price volatility.

	Fair Value (millions)		Valuation Techniques	Unobservable Input	Range		Weighted Average(1)
Assets:
Physical and Financial Forwards and Futures:
Natural Gas(2)	$	85	Discounted Cash Flow	Market Price (per Dth)(3)		(2) - 6		(1	)
				Credit spread(4)		1% - 5%		2	%
FTRs		4	Discounted Cash Flow	Market Price (per MWh)(3)		(5) - 7		1
Physical and Financial Options:
Natural Gas		5	Option Model	Market Price (per Dth)(3)		2 - 4		3
				Price Volatility(5)		21% - 76%		32	%
Total assets	$	94
Liabilities:
Physical and Financial Forwards and Futures:
Natural Gas(2)	$	12	Discounted Cash Flow	Market Price (per Dth)(3)		(2) - 4		2
FTRs		4	Discounted Cash Flow	Market Price (per MWh)(3)		(2) - 5		1
Physical and Financial Options:
Natural Gas		2	Option Model	Market Price (per Dth)(3)		2 - 4		3
				Price Volatility(5)		21% - 76%		32	%
Total liabilities	$	18

(1) Averages weighted by volume.

(2) Includes basis.

(3) Represents market prices beyond defined terms for Levels 1 and 2.

(4) Represents credit spreads unrepresented in published markets.

(5) Represents volatilities unrepresented in published markets.

27

Sensitivity of the fair value measurements to changes in the significant unobservable inputs is as follows:

Significant Unobservable Inputs	Position	Change to Input	Impact on Fair Value Measurement
Market Price	Buy	Increase (decrease)	Gain (loss)
Market Price	Sell	Increase (decrease)	Loss (gain)
Price Volatility	Buy	Increase (decrease)	Gain (loss)
Price Volatility	Sell	Increase (decrease)	Loss (gain)
Credit spread	Asset	Increase (decrease)	Loss (gain)

28

Recurring Fair Value Measurements

Dominion

The following table presents Dominion’s assets and liabilities that are measured at fair value on a recurring basis for each hierarchy level, including both current and noncurrent portions:

	Level 1		Level 2		Level 3		Total
(millions)
At March 31, 2015
Assets:
Derivatives:
Commodity	$	3	$	564	$	94	$	661
Interest rate		—		18		—		18
Investments(1):
Equity securities:
U.S.:
Large cap		2,647		—		—		2,647
Other		7		—		—		7
Non-U.S.:
Large cap		12		—		—		12
Fixed income:
Corporate debt instruments		—		462		—		462
U.S. Treasury securities and agency debentures		407		187		—		594
State and municipal		—		423		—		423
Other		—		130		—		130
Cash equivalents and other		1		4		—		5
Total assets	$	3,077	$	1,788	$	94	$	4,959
Liabilities:
Derivatives:
Commodity	$	3	$	437	$	18	$	458
Interest rate		—		307		—		307
Total liabilities	$	3	$	744	$	18	$	765
At December 31, 2014
Assets:
Derivatives:
Commodity	$	3	$	567	$	125	$	695
Interest rate		—		24		—		24
Investments(1):
Equity securities:
U.S.:
Large cap		2,669		—		—		2,669
Other		6		—		—		6
Non-U.S.:
Large cap		12		—		—		12
Fixed income:
Corporate debt instruments		—		441		—		441
U.S. Treasury securities and agency debentures		419		190		—		609
State and municipal		—		395		—		395
Other		—		74		—		74
Cash equivalents and other		3		10		—		13
Total assets	$	3,112	$	1,701	$	125	$	4,938
Liabilities:
Derivatives:
Commodity	$	3	$	571	$	18	$	592
Interest rate		—		202		—		202
Total liabilities	$	3	$	773	$	18	$	794

(1) Includes investments held in the nuclear decommissioning and rabbi trusts.

29

The following table presents the net change in Dominion’s assets and liabilities measured at fair value on a recurring basis and included in the Level 3 fair value category:

	Three Months Ended March 31,
	2015			2014
(millions)
Beginning balance	$	107		$	(16	)
Total realized and unrealized gains (losses):
Included in earnings		15			110
Included in other comprehensive income (loss)		(11	)		4
Included in regulatory assets/liabilities		(24	)		17
Settlements		(14	)		(108	)
Transfers out of Level 3(1)		3			1
Ending balance	$	76		$	8
The amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets/liabilities still held at the reporting date	$	—		$	1

(1) In March 2015, Dominion changed the classification of NGL derivatives from Level 3 to Level 2 due to an increase in liquidity in financial forward markets. At March 31, 2015, $9 million of the transfers out of Level 3 relate to NGLs.

The following table presents Dominion’s classification of gains and losses included in earnings in the Level 3 fair value category:

	Operating revenue			Electric fuel and other energy- related purchases		Total
(millions)
Three Months Ended March 31, 2015
Total gains (losses) included in earnings	$	2		$	13	$	15
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets/liabilities still held at the reporting date		—			—		—
Three Months Ended March 31, 2014
Total gains (losses) included in earnings	$	(10	)	$	120	$	110
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets/liabilities still held at the reporting date		1			—		1

Virginia Power

The following table presents Virginia Power’s quantitative information about Level 3 fair value measurements at March 31, 2015. The range and weighted average are presented in dollars for market price inputs and percentages for credit spreads.

30

	Fair Value (millions)		Valuation Techniques	Unobservable Input	Range			Weighted Average(1)
Assets:
Physical and Financial Forwards and Futures:
FTRs	$	4	Discounted Cash Flow	Market Price (per MWh)(3)		(5) - 7			1
Natural Gas(2)		78	Discounted Cash Flow	Market Price (per Dth)(3)		(2) - 3			(1	)
				Credit spread(4)		1% - 5	%		2	%
Total assets	$	82
Liabilities:
Physical and Financial Forwards and Futures:
FTRs	$	4	Discounted Cash Flow	Market Price (per MWh)(3)		(2) - 5			1
Total liabilities	$	4

(1) Averages weighted by volume.

(2) Includes basis.

(3) Represents market prices beyond defined terms for Levels 1 and 2.

(4) Represents credit spreads unrepresented in published markets.

Sensitivity of the fair value measurements to changes in the significant unobservable inputs is as follows:

Significant Unobservable Inputs	Position	Change to Input	Impact on Fair Value Measurement
Market Price	Buy	Increase (decrease)	Gain (loss)
Market Price	Sell	Increase (decrease)	Loss (gain)
Credit spread	Asset	Increase (decrease)	Loss (gain)

The following table presents Virginia Power’s assets and liabilities that are measured at fair value on a recurring basis for each hierarchy level, including both current and noncurrent portions:

31

	Level 1		Level 2		Level 3		Total
(millions)
At March 31, 2015
Assets:
Derivatives:
Commodity	$	—	$	24	$	82	$	106
Investments(1):
Equity securities:
U.S. large cap		1,166		—		—		1,166
Fixed income:
Corporate debt instruments		—		258		—		258
U.S. Treasury securities and agency debentures		129		63		—		192
State and municipal		—		224		—		224
Other		—		31		—		31
Total assets	$	1,295	$	600	$	82	$	1,977
Liabilities:
Derivatives:
Commodity	$	—	$	7	$	4	$	11
Interest rate		—		128		—		128
Total liabilities	$	—	$	135	$	4	$	139
At December 31, 2014
Assets:
Derivatives:
Commodity	$	—	$	7	$	106	$	113
Investments(1):
Equity securities:
U.S. large cap		1,157		—		—		1,157
Fixed income:
Corporate debt instruments		—		250		—		250
U.S. Treasury securities and agency debentures		137		61		—		198
State and municipal		—		211		—		211
Other		—		23		—		23
Total assets	$	1,294	$	552	$	106	$	1,952
Liabilities:
Derivatives:
Commodity	$	—	$	11	$	4	$	15
Interest rate		—		72		—		72
Total liabilities	$	—	$	83	$	4	$	87

(1) Includes investments held in the nuclear decommissioning and rabbi trusts.

The following table presents the net change in Virginia Power’s assets and liabilities measured at fair value on a recurring basis and included in the Level 3 fair value category:

32

	Three Months Ended March 31,
	2015			2014
(millions)
Beginning balance	$	102		$	(7	)
Total realized and unrealized gains (losses):
Included in earnings		14			120
Included in regulatory assets/liabilities		(24	)		17
Settlements		(14	)		(120	)
Ending balance	$	78		$	10

The gains and losses included in earnings in the Level 3 fair value category were classified in electric fuel and other energy-related purchases in Virginia Power’s Consolidated Statements of Income for the three months ended March 31, 2015 and 2014. There were no unrealized gains or losses included in earnings in the Level 3 fair value category relating to assets/liabilities still held at the reporting date for the three months ended March 31, 2015 and 2014.

Dominion Gas

The following table presents Dominion Gas’ assets and liabilities for derivatives that are measured at fair value on a recurring basis for each hierarchy level, including both current and noncurrent portions:

	Level 1		Level 2		Level 3		Total
(millions)
At March 31, 2015
Assets:
Commodity	$	—	$	3	$	—	$	3
Total Assets	$	—	$	3	$	—	$	3
Liabilities:
Commodity	$	—	$	3	$	—	$	3
Interest rate		—		13		—		13
Total liabilities	$	—	$	16	$	—	$	16
At December 31, 2014
Assets:
Commodity	$	—	$	—	$	2	$	2
Total Assets	$	—	$	—	$	2	$	2
Liabilities:
Interest rate	$	—	$	9	$	—	$	9
Total liabilities	$	—	$	9	$	—	$	9

The following table presents the net change in Dominion Gas’ assets and liabilities for derivatives measured at fair value on a recurring basis and included in the Level 3 fair value category:

	Three Months Ended March 31,
	2015			2014
(millions)
Beginning balance	$	2		$	(6	)
Total realized and unrealized gains (losses):
Included in earnings		1			(5	)
Included in other comprehensive income (loss)		(11	)		4
Settlements		(1	)		5
Transfers out of Level 3(1)		9			—
Ending balance	$	—		$	(2	)

33

(1) In March 2015, Dominion changed the classification of NGL derivatives from Level 3 to Level 2 due to an increase in liquidity in financial forward markets. At March 31, 2015, $9 million of the transfers out of Level 3 relate to NGLs.

The gains and losses included in earnings in the Level 3 fair value category were classified in operating revenue in Dominion Gas’ Consolidated Statements of Income for the three months ended March 31, 2015 and 2014. There were no unrealized gains or losses included in earnings in the Level 3 fair value category relating to assets/liabilities still held at the reporting date for the three months ended March 31, 2015 and 2014.

Fair Value of Financial Instruments

Substantially all of the Companies’ financial instruments are recorded at fair value, with the exception of the instruments described below, which are reported at historical cost. Estimated fair values have been determined using available market information and valuation methodologies considered appropriate by management. The carrying amount of cash and cash equivalents, restricted cash (which is recorded in other current assets) customer and other receivables, short-term debt, affiliated current borrowings, payables to affiliates and accounts payable are representative of fair value because of the short-term nature of these instruments. For the Companies’ financial instruments that are not recorded at fair value, the carrying amounts and estimated fair values are as follows:

	March 31, 2015				December 31, 2014
	Carrying Amount		Estimated Fair Value(1)		Carrying Amount		Estimated Fair Value(1)
(millions)
Dominion
Long-term debt, including securities due within one year(2)(3)	$	19,718	$	22,197	$	19,723	$	21,881
Junior subordinated notes(3)		1,373		1,405		1,374		1,396
Remarketable subordinated notes(3)		2,084		2,206		2,083		2,362
Virginia Power
Long-term debt, including securities due within one year(3)	$	8,936	$	10,441	$	8,937	$	10,293
Dominion Gas
Long-term debt(3)	$	2,594	$	2,720	$	2,594	$	2,672

(1) Fair value is estimated using market prices, where available, and interest rates currently available for issuance of debt with similar terms and remaining maturities. All fair value measurements are classified as Level 2. The carrying amount of debt issues with short-term maturities and variable rates refinanced at current market rates is a reasonable estimate of their fair value.

(2) At March 31, 2015 and December 31, 2014, includes the valuation of certain fair value hedges associated with fixed rate debt of approximately $15 million and $19 million, respectively.

(3) Carrying amount includes amounts which represent the unamortized discount and/or premium.

Note 9. Derivatives and Hedge Accounting Activities

The Companies’ accounting policies and objectives and strategies for using derivative instruments are discussed in Note 2 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014. See Note 8 in this report for further information about fair value measurements and associated valuation methods for derivatives.

Derivative assets and liabilities are presented gross on the Companies’ Consolidated Balance Sheets. Dominion’s derivative contracts include both over-the-counter transactions and those that are executed on an exchange or other trading platform (exchange contracts) and centrally cleared. Dominion Gas’ and Virginia Power’s derivative contracts consist of over-the-counter transactions. Over-the-counter contracts are bilateral contracts that are transacted directly with a counterparty. Exchange contracts utilize a financial intermediary, exchange, or clearinghouse to enter, execute, or clear the transactions. Certain over-the-counter and exchange contracts contain contractual rights of setoff through master netting arrangements, derivative clearing agreements, and contract default provisions. In addition, the contracts are subject to conditional rights of setoff through counterparty nonperformance, insolvency, or other conditions.

In general, most over-the-counter transactions and all exchange contracts are subject to collateral requirements. Types of collateral for over-the-counter and exchange contracts include cash, letters of credit, and in some cases other forms of security, none of which are subject to restrictions. Cash collateral is used in the table below to offset derivative assets and liabilities. Certain accounts receivable and accounts payable recognized on the Companies’ Consolidated Balance Sheets, as well as letters of credit and other forms of security, all of which are not included in the tables below, are subject to offset under master netting or similar arrangements and would reduce the net exposure.

34

Dominion

Balance Sheet Presentation

The tables below present Dominion’s derivative asset and liability balances by type of financial instrument, before and after the effects of offsetting:

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	18	$	—	$	18	$	24	$	—	$	24
Commodity contracts:
Over-the-counter		323		—		323		382		—		382
Exchange		326		—		326		298		—		298
Total derivatives, subject to a master netting or similar arrangement		667		—		667		704		—		704
Total derivatives, not subject to a master netting or similar arrangement		12		—		12		15		—		15
Total	$	679	$	—	$	679	$	719	$	—	$	719

	Net Amounts of Assets Presented in the Consolidated Balance Sheet		March 31, 2015						Net Amounts of Assets Presented in the Consolidated Balance Sheet		December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
			Financial Instruments		Cash Collateral Received		Net Amounts				Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	18	$	18	$	—	$	—	$	24	$	16	$	—	$	8
Commodity contracts:
Over-the-counter		323		45		—		278		382		34		34		314
Exchange		326		326		—		—		298		298		—		—
Total	$	667	$	389	$	—	$	278	$	704	$	348	$	34	$	322

35

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	307	$	—	$	307	$	202	$	—	$	202
Commodity contracts:
Over-the-counter		83		—		83		87		—		87
Exchange		364		—		364		493		—		493
Total derivatives, subject to a master netting or similar arrangement		754		—		754		782		—		782
Total derivatives, not subject to a master netting or similar arrangement		11		—		11		12		—		12
Total	$	765	$	—	$	765	$	794	$	—	$	794

	Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		March 31, 2015						Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
			Financial Instruments		Cash Collateral Paid		Net Amounts				Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	307	$	18	$	—	$	289	$	202	$	16	$	—	$	186
Commodity contracts:
Over-the-counter		83		45		—		38		87		34		1		52
Exchange		364		326		38		—		493		298		195		—
Total	$	754	$	389	$	38	$	327	$	782	$	348	$	196	$	238

Volumes

The following table presents the volume of Dominion’s derivative activity as of March 31, 2015. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of their long and short positions.

	Current		Noncurrent
Natural Gas (bcf):
Fixed price(1)		55		10
Basis		224		558
Electricity (MWh):
Fixed price		13,610,507		7,505,325
FTRs		14,994,541		—
Capacity (MW)		15,250		3,050
Liquids (Gal)(2)		77,280,000		2,016,000
Interest rate	$	2,550,000,000	$	4,000,000,000

(1) Includes options.

(2) Includes NGLs and oil.

36

Ineffectiveness and AOCI

For the three months ended March 31, 2015 and 2014, gains or losses on hedging instruments determined to be ineffective and amounts excluded from the assessment of effectiveness were not material. Amounts excluded from the assessment of effectiveness include gains or losses attributable to changes in the time value of options and changes in the differences between spot prices and forward prices.

The following table presents selected information related to gains (losses) on cash flow hedges included in AOCI in Dominion’s Consolidated Balance Sheet at March 31, 2015:

	AOCI After- Tax			Amounts Expected to be Reclassified to Earnings during the next 12 Months After- Tax			Maximum Term
(millions)
Commodities:
Gas	$	(5	)	$	(5	)		25 months
Electricity		89			32			21 months
Other		—			(1	)		14 months
Interest rate		(261	)		(6	)		393 months
Total	$	(177	)	$	20

The amounts that will be reclassified from AOCI to earnings will generally be offset by the recognition of the hedged transactions (e.g., anticipated sales) in earnings, thereby achieving the realization of prices contemplated by the underlying risk management strategies and will vary from the expected amounts presented above as a result of changes in market prices and interest rates.

37

Fair Value and Gains and Losses on Derivative Instruments

The following table presents the fair values of Dominion’s derivatives and where they are presented in its Consolidated Balance Sheets:

	Fair Value – Derivatives under Hedge Accounting		Fair Value – Derivatives not under Hedge Accounting		Total Fair Value
(millions)
At March 31, 2015
ASSETS
Current Assets
Commodity	$	298	$	109	$	407
Interest rate		13		—		13
Total current derivative assets(1)		311		109		420
Noncurrent Assets
Commodity		140		114		254
Interest rate		5		—		5
Total noncurrent derivative assets(2)		145		114		259
Total derivative assets	$	456	$	223	$	679
LIABILITIES
Current Liabilities
Commodity	$	253	$	118	$	371
Interest rate		229		—		229
Total current derivative liabilities		482		118		600
Noncurrent Liabilities
Commodity		48		39		87
Interest Rate		78		—		78
Total noncurrent derivative liabilities(3)		126		39		165
Total derivative liabilities	$	608	$	157	$	765
At December 31, 2014
ASSETS
Current Assets
Commodity	$	281	$	242	$	523
Interest rate		13		—		13
Total current derivative assets(1)		294		242		536
Noncurrent Assets
Commodity		71		101		172
Interest rate		11		—		11
Total noncurrent derivative assets(2)		82		101		183
Total derivative assets	$	376	$	343	$	719
LIABILITIES
Current Liabilities
Commodity	$	224	$	267	$	491
Interest rate		100		—		100
Total current derivative liabilities		324		267		591
Noncurrent Liabilities
Commodity		55		46		101
Interest rate		102		—		102
Total noncurrent derivative liabilities(3)		157		46		203
Total derivative liabilities	$	481	$	313	$	794

38

(1) Current derivative assets are presented in other current assets in Dominion’s Consolidated Balance Sheets.

(2) Noncurrent derivative assets are presented in other deferred charges and other assets in Dominion’s Consolidated Balance Sheets.

(3) Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Dominion’s Consolidated Balance Sheets.

The following tables present the gains and losses on Dominion’s derivatives, as well as where the associated activity is presented in its Consolidated Balance Sheets and Statements of Income:

Derivatives in cash flow hedging relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)
(millions)
Three Months Ended March 31, 2015
Derivative Type and Location of Gains (Losses)
Commodity:
Operating revenue				$	(92	)
Purchased gas					(5	)
Electric fuel and other energy-related purchases					1
Total commodity	$	(41	)	$	(96	)	$	3
Interest rate(3)		(58	)		(2	)		(49	)
Total	$	(99	)	$	(98	)	$	(46	)
Three Months Ended March 31, 2014
Derivative Type and Location of Gains (Losses)
Commodity:
Operating revenue				$	(269	)
Purchased gas					(1	)
Electric fuel and other energy-related purchases					13
Total commodity	$	(183	)	$	(257	)	$	2
Interest rate(3)		(47	)		(3	)		(23	)
Total	$	(230	)	$	(260	)	$	(21	)

(1) Amounts deferred into AOCI have no associated effect in Dominion’s Consolidated Statements of Income.

(2) Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Dominion’s Consolidated Statements of Income.

(3) Amounts recorded in Dominion’s Consolidated Statements of Income are classified in interest and related charges.

	Amount of Gain (Loss) Recognized in Income on  Derivatives(1)
	Three Months Ended March 31,
Derivatives not designated as hedging instruments	2015			2014
(millions)
Derivative Type and Location of Gains (Losses)
Commodity
Operating revenue	$	3		$	(361	)
Purchased gas		(2	)		7
Electric fuel and other energy-related purchases		6			133
Total	$	7		$	(221	)

(1) Includes derivative activity amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Dominion’s Consolidated Statements of Income.

39

Virginia Power

Balance Sheet Presentation

The tables below present Virginia Power’s derivative asset and liability balances by type of financial instrument, before and after the effects of offsetting:

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet
(millions)
Commodity contracts:
Over-the-counter	$	82	$	—	$	82	$	106	$	—	$	106
Total derivatives, subject to a master netting or similar arrangement		82		—		82		106		—		106
Total derivatives, not subject to a master netting or similar arrangement		24		—		24		7		—		7
Total	$	106	$	—	$	106	$	113	$	—	$	113

	March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
Commodity contracts:
Over-the-counter	$	82	$	4	$	—	$	78	$	106	$	4	$	—	$	102
Total	$	82	$	4	$	—	$	78	$	106	$	4	$	—	$	102

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	128	$	—	$	128	$	72	$	—	$	72
Commodity contracts:
Over-the-counter		5		—		5		8		—		8
Total derivatives, subject to a master netting or similar arrangement		133		—		133		80		—		80
Total derivatives, not subject to a master netting or similar arrangement		6		—		6		7		—		7
Total	$	139	$	—	$	139	$	87	$	—	$	87

40

			March 31, 2015 Gross Amounts Not Offset in the Consolidated Balance Sheet								December 31, 2014 Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	128	$	—	$	—	$	128	$	72	$	—	$	—	$	72
Commodity contracts:
Over-the-counter		5		4		—		1		8		4		—		4
Total	$	133	$	4	$	—	$	129	$	80	$	4	$	—	$	76

Volumes

The following table presents the volume of Virginia Power’s derivative activity as of March 31, 2015. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of their long and short positions.

	Current		Noncurrent
Natural Gas (bcf):
Fixed price(1)		12		—
Basis		84		493
Electricity (MWh):
FTRs		13,486,569		—
Capacity (MW)		15,250		3,050
Interest rate	$	1,000,000,000	$	750,000,000

(1) Includes options.

Ineffectiveness

For the three months ended March 31, 2015 and 2014, gains or losses on hedging instruments determined to be ineffective were not material.

Fair Value and Gains and Losses on Derivative Instruments

The following table presents the fair values of Virginia Power’s derivatives and where they are presented in its Consolidated Balance Sheets:

41

	Fair Value – Derivatives under Hedge Accounting		Fair Value – Derivatives not under Hedge Accounting		Total Fair Value
(millions)
At March 31, 2015
ASSETS
Current Assets
Commodity	$	—	$	28	$	28
Total current derivative assets(1)		—		28		28
Noncurrent Assets
Commodity		—		78		78
Total noncurrent derivative assets(2)		—		78		78
Total derivative assets	$	—	$	106	$	106
LIABILITIES
Current Liabilities
Commodity	$	1	$	10	$	11
Interest rate		96		—		96
Total current derivative liabilities(3)		97		10		107
Noncurrent Liabilities
Interest rate		32		—		32
Total noncurrent derivatives liabilities(4)		32		—		32
Total derivative liabilities	$	129	$	10	$	139
December 31, 2014
ASSETS
Current Assets
Commodity	$	—	$	51	$	51
Total current derivative assets(1)		—		51		51
Noncurrent Assets
Commodity		—		62		62
Total noncurrent derivative assets(2)		—		62		62
Total derivative assets	$	—	$	113	$	113
LIABILITIES
Current Liabilities
Commodity	$	3	$	12	$	15
Interest rate		45		—		45
Total current derivative liabilities(3)		48		12		60
Noncurrent Liabilities
Interest rate		27		—		27
Total noncurrent derivative liabilities(4)		27		—		27
Total derivative liabilities	$	75	$	12	$	87

(1) Current derivative assets are presented in other current assets in Virginia Power’s Consolidated Balance Sheets.

(2) Noncurrent derivative assets are presented in other deferred charges and other assets in Virginia Power’s Consolidated Balance Sheets.

(3) Current derivative liabilities are presented in other current liabilities in Virginia Power’s Consolidated Balance Sheets.

(4) Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Virginia Power’s Consolidated Balance Sheets.

The following tables present the gains and losses on Virginia Power’s derivatives, as well as where the associated activity is presented in its Consolidated Balance Sheets and Statements of Income:

42

Derivatives in cash flow hedging relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)
(millions)
Three Months Ended March 31, 2015
Derivative Type and Location of Gains (Losses)
Commodity:
Electric fuel and other energy-related purchases				$	(1	)
Total commodity	$	—		$	(1	)	$	3
Interest rate(3)		(6	)		—			(49	)
Total	$	(6	)	$	(1	)	$	(46	)
Three Months Ended March 31, 2014
Derivative Type and Location of Gains (Losses)
Commodity:
Electric fuel and other energy-related purchases				$	5
Total commodity	$	6		$	5		$	2
Interest rate(3)		(3	)		—			(23	)
Total	$	3		$	5		$	(21	)

(1) Amounts deferred into AOCI have no associated effect in Virginia Power’s Consolidated Statements of Income.

(2) Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Virginia Power’s Consolidated Statements of Income.

(3) Amounts recorded in Virginia Power’s Consolidated Statements of Income are classified in interest and related charges.

	Amount of Gain (Loss) Recognized in Income on Derivatives(1)
	Three Months Ended March 31,
Derivatives not designated as hedging instruments	2015		2014
(millions)
Derivative Type and Location of Gains (Losses)
Commodity(2)	$	7	$	119
Total	$	7	$	119

(1) Includes derivative activity amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Virginia Power’s Consolidated Statements of Income.

(2) Amounts recorded in Virginia Power’s Consolidated Statements of Income are classified in electric fuel and other energy-related purchases.

Dominion Gas

Balance Sheet Presentation

The tables below present Dominion Gas’ derivative asset and liability balances by type of financial instrument, before and after the effects of offsetting.

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet
(millions)
Commodity contracts:
Over-the-counter	$	3	$	—	$	3	$	2	$	—	$	2
Total derivatives, subject to a master netting or similar arrangement	$	3	$	—	$	3	$	2	$	—	$	2

43

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
Commodity contracts:
Over-the-counter	$	3	$	3	$	—	$	—	$	2	$	—	$	—	$	2
Total	$	3	$	3	$	—	$	—	$	2	$	—	$	—	$	2

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	13	$	—	$	13	$	9	$	—	$	9
Commodity contracts:
Over-the-counter		3		—		3		—		—		—
Total derivatives, subject to a master netting or similar arrangement	$	16	$	—	$	16	$	9	$	—	$	9

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	13	$	—	$	—	$	13	$	9	$	—	$	—	$	9
Commodity contracts:
Over-the-counter		3		3		—		—		—		—		—		—
Total	$	16	$	3	$	—	$	13	$	9	$	—	$	—	$	9

Volumes

The following table presents the volume of Dominion Gas’ derivative activity as of March 31, 2015. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of their long and short positions.

44

	Current		Noncurrent
Natural Gas (bcf):
Fixed price		7		—
Basis		8		—
NGLs (Gal)		72,912,000		—
Interest rate	$	—	$	250,000,000

Ineffectiveness and AOCI

For the three months ended March 31, 2015 and 2014, gains or losses on hedging instruments determined to be ineffective were not material.

The following table presents selected information related to losses on cash flow hedges included in AOCI in Dominion Gas’ Consolidated Balance Sheet at March 31, 2015:

	AOCI After-Tax			Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax		Maximum Term
(millions)
Commodities:
NGLs	$	(1	)	$	—		12 months
Interest rate		(23	)		—		357 months
Total	$	(24	)	$	—

The amounts that will be reclassified from AOCI to earnings will generally be offset by the recognition of the hedged transactions (e.g., anticipated sales) in earnings, thereby achieving the realization of prices contemplated by the underlying risk management strategies and will vary from the expected amounts presented above as a result of changes in market prices and interest rates.

Fair Value and Gains and Losses on Derivative Instruments

The following tables present the fair values of Dominion Gas’ commodity and interest rate derivatives and where they are presented in its Consolidated Balance Sheets:

45

	Fair Value - Derivatives under Hedge Accounting		Fair Value - Derivatives not under Hedge Accounting		Total Fair Value
(millions)
At March 31, 2015
ASSETS
Current Assets
Commodity	$	2	$	1	$	3
Total current derivative assets(1)		2		1		3
Total derivative assets	$	2	$	1	$	3
LIABILITIES
Current Liabilities
Commodity	$	3	$	—	$	3
Total current derivative liabilities(2)		3		—		3
Noncurrent Liabilities
Interest rate		13		—		13
Total noncurrent derivative liabilities(3)		13		—		13
Total derivative liabilities	$	16	$	—	$	16
At December 31, 2014
ASSETS
Current Assets
Commodity	$	2	$	—	$	2
Total current derivative assets(1)		2		—		2
Total derivative assets	$	2	$	—	$	2
LIABILITIES
Noncurrent Liabilities
Interest rate	$	9	$	—	$	9
Total noncurrent derivative liabilities(3)		9		—		9
Total derivative liabilities	$	9	$	—	$	9

(1) Current derivative assets are presented in other current assets in Dominion Gas’ Consolidated Balance Sheets.

(2) Current derivative liabilities are presented in other current liabilities in Dominion Gas’ Consolidated Balance Sheets.

(3) Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Dominion Gas’ Consolidated Balance Sheets.

The following table presents the gains and losses on Dominion Gas’ derivatives, as well as where the associated activity is presented in its Consolidated Balance Sheets and Statements of Income:

46

Derivatives in cash flow hedging relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)(1)			Amount of Gain (Loss) Reclassified from AOCI to Income
(millions)
Three Months Ended March 31, 2015
Derivative Type and Location of Gains (Losses)
Commodity
Operating revenue				$	—
Total commodity	$	(2	)	$	—
Interest rate(2)		(4	)		—
Total	$	(6	)	$	—
Three Months Ended March 31, 2014
Derivative Type and Location of Gains (Losses)
Commodity
Operating revenue				$	(6	)
Purchased gas					(2	)
Total commodity	$	1		$	(8	)
Interest rate(2)		(14	)		—
Total	$	(13	)	$	(8	)

(1) Amounts deferred into AOCI have no associated effect in Dominion Gas’ Consolidated Statements of Income.

(2) Amounts recorded in Dominion Gas’ Consolidated Statements of Income are classified in interest and related charges.

Note 10. Investments

Dominion

Equity and Debt Securities

Rabbi Trust Securities

Marketable equity and debt securities and cash equivalents held in Dominion’s rabbi trusts and classified as trading totaled $116 million and $110 million at March 31, 2015 and December 31, 2014, respectively. Cost method investments held in Dominion’s rabbi trusts totaled $6 million at both March 31, 2015 and December 31, 2014.

Decommissioning Trust Securities

Dominion holds marketable equity and debt securities (classified as available-for-sale), cash equivalents and cost method investments in nuclear decommissioning trust funds to fund future decommissioning costs for its nuclear plants. Dominion’s decommissioning trust funds are summarized below:

47

	Amortized Cost		Total Unrealized Gains(1)		Total Unrealized Losses(1)			Fair Value
(millions)
March 31, 2015
Marketable equity securities:
U.S. large cap	$	1,265	$	1,338	$	—		$	2,603
Marketable debt securities:
Corporate bonds		440		23		(1	)		462
U.S. Treasury securities and agency debentures		576		17		(1	)		592
State and municipal		356		24		—			380
Other		122		—		—			122
Cost method investments		77		—		—			77
Cash equivalents and other(2)		8		—		—			8
Total	$	2,844	$	1,402	$	(2	)(3)	$	4,244
December 31, 2014
Marketable equity securities:
U.S. large cap	$	1,273	$	1,353	$	—		$	2,626
Marketable debt securities:
Corporate bonds		424		19		(2	)		441
U.S. Treasury securities and agency debentures		597		13		(4	)		606
State and municipal		332		23		—			355
Other		66		—		—			66
Cost method investments		86		—		—			86
Cash equivalents and other(2)		16		—		—			16
Total	$	2,794	$	1,408	$	(6	)(3)	$	4,196

(1) Included in AOCI and the nuclear decommissioning trust regulatory liability.

(2) Includes pending sales of securities of $3 million at both March 31, 2015 and December 31, 2014.

(3) The fair value of securities in an unrealized loss position was $239 million and $379 million at March 31, 2015 and December 31, 2014, respectively.

48

The fair value of Dominion’s marketable debt securities held in nuclear decommissioning trust funds at March 31, 2015 by contractual maturity is as follows:

	Amount
(millions)
Due in one year or less	$	233
Due after one year through five years		383
Due after five years through ten years		435
Due after ten years		505
Total	$	1,556

Presented below is selected information regarding Dominion’s marketable equity and debt securities held in nuclear decommissioning trust funds.

	Three Months Ended March 31,
	2015		2014
(millions)
Proceeds from sales	$	337	$	442
Realized gains(1)		56		38
Realized losses(1)		17		6

(1) Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.

Other-than-temporary impairment losses on investments held in nuclear decommissioning trust funds for Dominion were not material for the three months ended March 31, 2015 and 2014.

49

Virginia Power

Virginia Power holds marketable equity and debt securities (classified as available-for-sale), cash equivalents and cost method investments in nuclear decommissioning trust funds to fund future decommissioning costs for its nuclear plants. Virginia Power’s decommissioning trust funds are summarized below:

	Amortized Cost		Total Unrealized Gains(1)		Total Unrealized Losses(1)			Fair Value
(millions)
March 31, 2015
Marketable equity securities:
U.S. large cap	$	573	$	592	$	—		$	1,165
Marketable debt securities:
Corporate bonds		247		11		—			258
U.S. Treasury securities and agency debentures		190		3		(1	)		192
State and municipal		209		14		—			223
Other		31		—		—			31
Cost method investments		77		—		—			77
Cash equivalents and other(2)		4		—		—			4
Total	$	1,331	$	620	$	(1	)(3)	$	1,950
December 31, 2014
Marketable equity securities:
U.S. large cap	$	563	$	594	$	—		$	1,157
Marketable debt securities:
Corporate bonds		242		9		(1	)		250
U.S. Treasury securities and agency debentures		197		3		(2	)		198
State and municipal		197		13		—			210
Other		23		—		—			23
Cost method investments		86		—		—			86
Cash equivalents and other(2)		6		—		—			6
Total	$	1,314	$	619	$	(3	)(3)	$	1,930

(1) Included in AOCI and the nuclear decommissioning trust regulatory liability.

(2) Includes pending sales of securities of $4 million and $6 million at March 31, 2015 and December 31, 2014, respectively.

(3) The fair value of securities in an unrealized loss position was $120 million and $170 million at March 31, 2015 and December 31, 2014, respectively.

The fair value of Virginia Power’s marketable debt securities at March 31, 2015 by contractual maturity is as follows:

	Amount
(millions)
Due in one year or less	$	51
Due after one year through five years		168
Due after five years through ten years		245
Due after ten years		240
Total	$	704

50

Presented below is selected information regarding Virginia Power’s marketable equity and debt securities.

	Three Months Ended March 31,
	2015		2014
(millions)
Proceeds from sales	$	133	$	204
Realized gains(1)		18		19
Realized losses(1)		11		3

(1) Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.

Other-than-temporary impairment losses on investments held in nuclear decommissioning trust funds for Virginia Power were not material for the three months ended March 31, 2015 and 2014.

Equity Method Investments

Dominion Gas

Dominion Gas accounts for the following investment under the equity method of accounting:

Company	Ownership%			Investment Balance				Description
				March 31, 2015		December 31, 2014
(millions)
Iroquois		24.72	%	$	103	$	107	Gas transmission system
Total				$	103	$	107

Dominion Gas’ equity earnings on this investment totaled $8 million for both the three months ended March 31, 2015 and 2014. Dominion Gas received distributions from this investment of $12 million and $5 million for the three months ended March 31, 2015 and 2014, respectively. As of March 31, 2015 and December 31, 2014, the carrying amount of Dominion Gas’ investment exceeded its share of underlying equity in net assets by approximately $8 million. The differences reflect equity method goodwill and are not being amortized.

Dominion and Dominion Gas

Blue Racer

In December 2012, Dominion formed Blue Racer with Caiman to provide midstream services to natural gas producers operating in the Utica Shale region in Ohio and portions of Pennsylvania. Blue Racer is an equal partnership between Dominion and Caiman, with Dominion contributing midstream assets and Caiman contributing private equity capital.

Dominion NGL Pipelines, LLC was contributed in January 2014 by Dominion to Blue Racer, prior to commencement of service, resulting in an increased equity method investment of $155 million, including $6 million of goodwill allocated from Dominion’s goodwill balance to its equity method investment in Blue Racer.

In March 2014, Dominion Gas sold the Northern System to an affiliate, that subsequently sold the Northern System to Blue Racer for consideration of approximately $84 million. Dominion Gas’ consideration consisted of $17 million in cash proceeds and the extinguishment of affiliated long-term debt of $67 million and Dominion’s consideration consisted of cash proceeds of approximately $84 million. The sale resulted in a gain of approximately $59 million ($35 million after-tax for Dominion Gas and $34 million after-tax for Dominion) net of a $3 million write-off of goodwill, and is included in other operations and maintenance expense in both Dominion Gas’ and Dominion’s Consolidated Statements of Income.

Note 11. Regulatory Assets and Liabilities

Regulatory assets and liabilities include the following:

	March 31, 2015		December 31, 2014
(millions)
Dominion
Regulatory assets:
Deferred cost of fuel used in electric generation(1)	$	122	$	79

51

Deferred rate adjustment clause costs(2)		108		124
Deferred nuclear refueling outage costs(3)		57		44
Unrecovered gas costs(4)		16		36
Other		59		64
Regulatory assets-current(5)		362		347
Unrecognized pension and other postretirement benefit costs(6)		1,034		1,050
Deferred rate adjustment clause costs(2)		216		250
Derivatives(7)		150		101
Income taxes recoverable through future rates(8)		136		133
Other		129		108
Regulatory assets-non-current		1,665		1,642
Total regulatory assets	$	2,027	$	1,989
Regulatory liabilities:
PIPP(9)	$	63	$	71
Other		43		99
Regulatory liabilities-current(10)		106		170
Provision for future cost of removal and AROs(11)		1,100		1,072
Nuclear decommissioning trust(12)		822		815
Other		197		104
Regulatory liabilities-non-current		2,119		1,991
Total regulatory liabilities	$	2,225	$	2,161
Virginia Power
Regulatory assets:
Deferred cost of fuel used in electric generation(1)	$	122	$	79
Deferred rate adjustment clause costs(2)		106		117
Deferred nuclear refueling outage costs(3)		57		44
Other		54		58
Regulatory assets-current		339		298
Deferred rate adjustment clause costs(2)		141		179
Derivatives(7)		150		101
Income taxes recoverable through future rates(8)		103		100
Other		70		59
Regulatory assets-non-current		464		439
Total regulatory assets	$	803	$	737
Regulatory liabilities:
Other	$	23	$	90
Regulatory liabilities-current(10)		23		90
Provision for future cost of removal(11)		864		852
Nuclear decommissioning trust(12)		822		815
Other		83		16
Regulatory liabilities-non-current		1,769		1,683
Total regulatory liabilities	$	1,792	$	1,773
Dominion Gas
Regulatory assets:
Unrecovered gas costs(4)	$	13	$	29
Deferred rate adjustment clause costs(2)		2		7
Other		1		2

52

Regulatory assets-current(5)		16		38
Unrecognized pension and other postretirement benefit costs(6)		239		242
Deferred rate adjustment clause costs(2)		75		71
Income taxes recoverable through future rates(8)		24		24
Other		52		42
Regulatory assets-non-current		390		379
Total regulatory assets	$	406	$	417
Regulatory liabilities:
PIPP(9)	$	63	$	71
Other		16		4
Regulatory liabilities-current(10)		79		75
Provision for future cost of removal and AROs(11)		172		172
Other		26		20
Regulatory liabilities-non-current(13)		198		192
Total regulatory liabilities	$	277	$	267

(1) Primarily reflects deferred fuel expenses for the Virginia jurisdiction of Virginia Power’s generation operations. See Note 12 for more information.

(2) Reflects deferrals under the electric transmission FERC formula rate and the deferral of costs associated with certain current and prospective rider projects for Virginia Power. Reflects deferrals of costs associated with certain current and prospective rider projects for Dominion Gas. See Note 12 for more information.

(3) Legislation enacted in Virginia in April 2014 requires Virginia Power to defer operation and maintenance costs incurred in connection with the refueling of any nuclear-powered generating plant. These deferred costs will be amortized over the refueling cycle, not to exceed 18 months.

(4) Reflects unrecovered gas costs at regulated gas operations, which are recovered through filings with the applicable regulatory authority.

(5) Current regulatory assets are presented in other current assets in Dominion’s and Dominion Gas’ Consolidated Balance Sheets.

(6) Represents unrecognized pension and other postretirement employee benefit costs expected to be recovered through future rates generally over the expected remaining service period of plan participants by certain of Dominion’s and Dominion Gas’ rate-regulated subsidiaries.

(7) For jurisdictions subject to cost-based rate regulation, changes in the fair value of derivative instruments result in the recognition of regulatory assets or regulatory liabilities as they are expected to be recovered from or refunded to customers.

(8) Amounts to be recovered through future rates to pay income taxes that become payable when rate revenue is provided to recover AFUDC-equity and depreciation of property, plant and equipment for which deferred income taxes were not recognized for ratemaking purposes, including amounts attributable to tax rate changes.

(9) Under PIPP, eligible customers can make reduced payments based on their ability to pay. The difference between the customer’s total bill and the PIPP plan amount is deferred and collected or returned annually under the PIPP rider according to East Ohio tariff provisions.

(10) Current regulatory liabilities are presented in other current liabilities in the Companies’ Consolidated Balance Sheets.

(11) Rates charged to customers by the Companies’ regulated businesses include a provision for the cost of future activities to remove assets that are expected to be incurred at the time of retirement.

(12) Primarily reflects a regulatory liability representing amounts collected from Virginia jurisdictional customers and placed in external trusts (including income, losses and changes in fair value thereon) for the future decommissioning of Virginia Power’s utility nuclear generation stations, in excess of the related AROs.

(13) Noncurrent regulatory liabilities are presented in other deferred credits and other liabilities in Dominion Gas’ Consolidated Balance Sheets.

At March 31, 2015, approximately $129 million of Dominion’s, $97 million of Virginia Power’s and $30 million of Dominion Gas’ regulatory assets represented past expenditures on which they do not currently earn a return. These expenditures are expected to be recovered within the next two years.

Note 12. Regulatory Matters

Regulatory Matters Involving Potential Loss Contingencies

As a result of issues generated in the ordinary course of business, the Companies are involved in various regulatory matters. Certain regulatory matters may ultimately result in a loss; however, as such matters are in an initial procedural phase, involve uncertainty as to the outcome of pending reviews or orders, and/or involve significant factual issues that need to be resolved, it is not possible for the Companies to estimate a range of possible loss. For matters for which the Companies cannot estimate a range of possible loss, a statement to this effect is made in the description of the matter. Other matters may have progressed sufficiently through the regulatory process such that the Companies are able to estimate a range of possible loss. For regulatory matters for which the Companies are able to reasonably estimate a range of possible losses, an estimated range of possible loss

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is provided, in excess of the accrued liability (if any) for such matters. Any estimated range is based on currently available information, involves elements of judgment and significant uncertainties and may not represent the Companies’ maximum possible loss exposure. The circumstances of such regulatory matters will change from time to time and actual results may vary significantly from the current estimate. For current matters not specifically reported below, management does not anticipate that the outcome from such matters would have a material effect on the Companies’ financial position, liquidity or results of operations.

FERC - Electric

Under the Federal Power Act, FERC regulates wholesale sales and transmission of electricity in interstate commerce by public utilities. Dominion’s merchant generators sell electricity in the PJM, MISO and ISO-NE wholesale markets under Dominion’s market-based sales tariffs authorized by FERC. Virginia Power purchases and, under its FERC market-based rate authority, sells electricity in the wholesale market. In addition, Virginia Power has FERC approval of a tariff to sell wholesale power at capped rates based on its embedded cost of generation. This cost-based sales tariff could be used to sell to loads within or outside Virginia Power’s service territory. Any such sales would be voluntary.

Rates

In April 2008, FERC granted an application for Virginia Power’s electric transmission operations to establish a forward-looking formula rate mechanism that updates transmission rates on an annual basis and approved an ROE of 11.4%, effective as of January 1, 2008. The formula rate is designed to recover the expected revenue requirement for each calendar year and is updated based on actual costs. The FERC-approved formula method, which is based on projected costs, allows Virginia Power to earn a current return on its growing investment in electric transmission infrastructure.

In March 2010, ODEC and NCEMC filed a complaint with FERC against Virginia Power claiming that approximately $223 million in transmission costs related to specific projects were unjust, unreasonable and unduly discriminatory or preferential and should be excluded from Virginia Power’s transmission formula rate. In October 2010, FERC issued an order dismissing the complaint in part and established hearings and settlement procedures on the remaining part of the complaint. In February 2012, Virginia Power submitted to FERC a settlement agreement to resolve all issues set for hearing. The settlement was accepted by FERC in May 2012 and provides for payment by Virginia Power to the transmission customer parties collectively of $250,000 per year for ten years and resolves all matters other than allocation of the incremental cost of certain underground transmission facilities.

In March 2014, FERC issued an order excluding from Virginia Power’s transmission rates for wholesale transmission customers located outside Virginia the incremental costs of undergrounding certain transmission line projects. FERC found it is not just and reasonable for non-Virginia wholesale transmission customers to be allocated the incremental costs of undergrounding the facilities because the projects are a direct result of Virginia legislation and Virginia Commission pilot programs intended to benefit the citizens of Virginia. The order is retroactively effective as of March 2010 and will cause the reallocation of the costs charged to wholesale transmission customers with loads outside Virginia to wholesale transmission customers with loads in Virginia. FERC determined that there was not sufficient evidence on the record to determine the magnitude of the underground increment and ordered a hearing to determine the appropriate amount of undergrounding cost to be allocated to each wholesale transmission customer in Virginia. While Virginia Power cannot predict the outcome of the hearing, it is not expected to have a material effect on results of operations.

Other Regulatory Matters

Other than the following matters, there have been no significant developments regarding the pending regulatory matters disclosed in Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014.

Virginia Regulation

2015 Biennial Review

In March 2015, Virginia Power filed its base rate case and schedules for the Virginia Commission’s 2015 biennial review of Virginia Power’s rates, terms and conditions. Per legislation enacted in February 2015, this biennial review is limited to reviewing Virginia Power’s earnings on rates for generation and distribution services for the combined 2013 and 2014 test period, and determining whether credits are due to customers in the event Virginia Power’s earnings exceeded the earnings band determined in the 2013 Biennial Review Order. Virginia Power’s filing demonstrated a 10.13% ROE for the combined test periods, which is within the earnings band. This case is pending.

Virginia Fuel Expenses

In February 2015, Virginia Power submitted its annual fuel factor filing to the Virginia Commission to recover an estimated $1.6 billion in Virginia jurisdictional projected fuel expenses for the rate year beginning July 1, 2015. Virginia Power’s new

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fuel rate, approved on an interim basis effective April 1, 2015, represents a fuel revenue decrease of approximately $512 million when applied to projected kilowatt-hour sales for the period April 1, 2015 to June 30, 2016. This case is pending. As a result of the legislation enacted in February 2015, Virginia Power recognized a charge of $85 million ($52 million after-tax) in electric fuel and other energy-related purchases in its Consolidated Statements of Income to write off 50% of its December 31, 2014 deferred fuel costs attributable to customers in Virginia.

Rate Adjustment Clauses

Below is a discussion of significant riders associated with various Virginia Power projects:

• The Virginia Commission previously approved Rider S in conjunction with the Virginia City Hybrid Energy Center. In March 2015, the Virginia Commission approved an approximately $245 million revenue requirement for the rate year beginning April 1, 2015.

• The Virginia Commission previously approved Rider BW in conjunction with Brunswick County. In April 2015, the Virginia Commission approved an approximately $111 million total revenue requirement for the rate year beginning September 1, 2015.

• The Virginia Commission previously approved Rider R in conjunction with Bear Garden. In March 2015, the Virginia Commission approved an approximately $84 million revenue requirement for the rate year beginning April 1, 2015.

• The Virginia Commission previously approved Riders C1A and C2A in connection with cost recovery for DSM programs. In April 2015, the Virginia Commission approved an approximately $37 million revenue requirement for the rate year beginning May 1, 2015. The Virginia Commission approved two new energy efficiency programs for a three-year period with a combined cost cap of approximately $20 million, and reduced Virginia Power’s annual base rate revenues by approximately $7 million to remove the costs of a discontinued energy efficiency program no longer combined in Virginia Power’s base rates effective May 1, 2015.

• The Virginia Commission previously approved Rider B in conjunction with the conversion of three power stations to biomass. In March 2015, the Virginia Commission approved an approximately $9 million revenue requirement for the rate year beginning April 1, 2015.

Electric Transmission Project

In April 2015, the Supreme Court of Virginia issued its opinion in the consolidated appeals of the Virginia Commission’s order granting a CPCN for the Skiffes Creek transmission line and related facilities. The Supreme Court of Virginia unanimously affirmed on all but one of the alleged grounds for appeal. The court approved the proposed project including the proposed route for a 500 kV overhead transmission line from Surry Power Station to the Skiffes Creek Switching Station site. The court reversed and remanded the Virginia Commission’s determination in one set of appeals that the Skiffes Creek Switching Station was a transmission line for purposes of statutory exemption from local zoning ordinances. On April 27, 2015, Virginia Power and the Virginia Commission each filed a Notice of Intent to Apply for Rehearing with the Supreme Court of Virginia relating to the ruling on the switching station. This matter is pending.

North Anna

Virginia Power is considering the construction of a third nuclear unit at a site located at North Anna. If Virginia Power decides to build a new unit, it must first receive a COL from the NRC, approval of the Virginia Commission and certain environmental permits and other approvals. The COL is expected in 2016. Virginia Power has not yet committed to building a new nuclear unit at North Anna.

In September 2014, BREDL filed a petition with the NRC again seeking suspension of final decision making in the COL proceeding, along with motions to reopen and file a new contention. BREDL asserted that the NRC must make a safety finding on the feasibility and capacity of geologic disposal of spent fuel prior to the issuance of a license. BREDL also alleged that because these safety findings are no longer made as part of the NRC’s new continued storage rule, such findings must now be made in individual licensing proceedings. In January 2015, BREDL filed another petition asking the NRC to supplement the final environmental impact statement for North Anna 3 to incorporate the NRC’s generic assessment of the impacts of continued spent fuel storage, which would allow BREDL to then challenge that assessment.

The NRC denied the September 2014 petition and motions filed by BREDL in February 2015 and the January 2015 petition filed by BREDL in April 2015. In April 2015, BREDL filed a new motion and petition seeking to object to the NRC’s reliance on the continued storage rule in licensing proceedings. The BREDL filings are substantially the same as those filed in other COL proceedings in which final environmental impact statements were issued prior to promulgation of the continued storage rule, like North Anna 3. Resolution of these filings is not expected to affect the schedule for issuance of the COL.

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Ohio Regulation

PIR Program

In March 2015, East Ohio filed an application with the Ohio Commission requesting approval to extend the PIR program for an additional five years and to increase the annual capital investment, with corresponding increases in the annual rate-increase caps. In its application, East Ohio proposed that PIR investments for 2016 should fall under the existing authorization and that the new five-year period should include investment through December 31, 2021. East Ohio also proposed that the PIR investment should be increased by $20 million in 2017 and another $20 million in 2018, bringing the total annual investment to $200 million. Thereafter, East Ohio proposed capital investment increases of 3% per year for 2019 through 2021 to mitigate inflation and other cost pressures experienced to date, which will continue into the future. This case is pending.

In February 2015, East Ohio filed an application to adjust the PIR cost recovery for 2014 costs. The filing reflects gross plant investment for 2014 of $155 million, cumulative gross plant investment of $829 million and a revenue requirement of $108 million. This application was approved by the Ohio Commission in April 2015.

AMR Program

In February 2015, East Ohio filed its application with the Ohio Commission to adjust its AMR cost recovery charge to recover costs for calendar year 2014 associated with AMR deployment, which was completed in 2012. The filing reflects a projected revenue requirement of approximately $8 million. This application was approved by the Ohio Commission in April 2015.

Note 13. Variable Interest Entities

As discussed in Note 15 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014, certain variable pricing terms in some of the Companies’ contracts cause them to be considered variable interests in the counterparties.

Virginia Power

Virginia Power has long-term power and capacity contracts with five non-utility generators with an aggregate summer generation capacity of approximately 870 MW. These contracts contain certain variable pricing mechanisms in the form of partial fuel reimbursement that Virginia Power considers to be variable interests. After an evaluation of the information provided by these entities, Virginia Power was unable to determine whether they were VIEs. However, the information they provided, as well as Virginia Power’s knowledge of generation facilities in Virginia, enabled Virginia Power to conclude that, if they were VIEs, it would not be the primary beneficiary. This conclusion reflects Virginia Power’s determination that its variable interests do not convey the power to direct the most significant activities that impact the economic performance of the entities during the remaining terms of Virginia Power’s contracts and for the years the entities are expected to operate after its contractual relationships expire. The contracts expire at various dates ranging from 2015 to 2021. Virginia Power is not subject to any risk of loss from these potential VIEs other than its remaining purchase commitments which totaled $585 million as of March 31, 2015. Virginia Power paid $53 million and $56 million for electric capacity and $37 million and $54 million for electric energy to these entities in the three months ended March 31, 2015 and 2014, respectively.

Virginia Power and Dominion Gas

Virginia Power and Dominion Gas purchased shared services from DRS, an affiliated VIE, of approximately $83 million and $28 million, and $83 million and $26 million for the three months ended March 31, 2015 and 2014, respectively. Virginia Power and Dominion Gas determined that each is not the most closely associated entity with DRS and therefore neither is the primary beneficiary. DRS provides accounting, legal, finance and certain administrative and technical services to all Dominion subsidiaries, including Virginia Power and Dominion Gas. Virginia Power and Dominion Gas have no obligation to absorb more than their allocated shares of DRS costs.

Note 14. Significant Financing Transactions

Credit Facilities and Short-term Debt

The Companies use short-term debt to fund working capital requirements and as a bridge to long-term debt financings. The levels of borrowing may vary significantly during the course of the year, depending upon the timing and amount of cash requirements not satisfied by cash from operations. In addition, Dominion utilizes cash and letters of credit to fund collateral requirements. Collateral requirements are impacted by commodity prices, hedging levels, Dominion’s credit ratings and the credit quality of its counterparties.

Dominion

At March 31, 2015, Dominion’s commercial paper and letters of credit outstanding, as well as its capacity available under credit facilities, were as follows:

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	Facility Limit		Outstanding Commercial Paper		Outstanding Letters of Credit		Facility Capacity Available
(millions)
Joint revolving credit facility(1)	$	4,000	$	3,112	$	—	$	888
Joint revolving credit facility(2)		500		88		48		364
Total	$	4,500	$	3,200	$	48	$	1,252

(1) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $1.5 billion of letters of credit.

(2) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings, commercial paper and letter of credit issuances.

Virginia Power

Virginia Power’s short-term financing is supported by two joint revolving credit facilities with Dominion and Dominion Gas. These credit facilities are being used for working capital, as support for the combined commercial paper programs of the Companies and for other general corporate purposes.

At March 31, 2015, Virginia Power’s share of commercial paper and letters of credit outstanding, as well as its capacity available under its joint credit facilities with Dominion and Dominion Gas, were as follows:

	Facility Sub-limit		Outstanding Commercial Paper		Outstanding Letters of Credit		Facility Sub-limit Capacity Available
(millions)
Joint revolving credit facility(1)	$	1,500	$	1,500	$	—	$	—
Joint revolving credit facility(2)		250		88		—		162
Total	$	1,750	$	1,588	$	—	$	162

(1) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $1.5 billion (or the sub-limit, whichever is less) of letters of credit. Virginia Power’s current sub-limit under this credit facility can be increased or decreased multiple times per year. In January 2015, Virginia Power increased its sub-limit from $1.25 billion to $1.50 billion.

(2) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings, commercial paper and letter of credit issuances. Virginia Power’s current sub-limit under this credit facility can be increased or decreased multiple times per year.

In addition to the credit facility commitments mentioned above, Virginia Power also has a $120 million credit facility with a maturity date of April 2019. As of March 31, 2015, this facility supports approximately $119 million of certain variable rate tax-exempt financings of Virginia Power.

Dominion Gas

Dominion Gas’ short-term financing is supported by the two joint revolving credit facilities discussed above with Dominion and Virginia Power, to which Dominion Gas was added as a borrower in May 2014. In December 2014, Dominion Gas entered into a commercial paper program pursuant to which it began accessing the commercial paper markets in January 2015.

At March 31, 2015, Dominion Gas’ share of commercial paper and letters of credit outstanding, as well as its capacity available under its joint credit facilities with Dominion and Virginia Power were as follows:

	Facility Sub-limit		Outstanding Commercial Paper		Outstanding Letters of Credit		Facility Sub-limit Capacity Available
(millions)
Joint revolving credit facility(1)	$	500	$	280	$	—	$	220
Joint revolving credit facility(2)		—		—		—		—
Total	$	500	$	280	$	—	$	220

(1) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $1.5 billion (or the sub-limit, whichever is less) of letters of credit. Dominion Gas’ current sub-limit under this credit facility can be increased or decreased multiple times per year, up to a maximum of $1.0 billion.

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(2) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings, commercial paper and letter of credit issuances. Dominion Gas’ current sub-limit under this credit facility can be increased or decreased multiple times per year.

Issuance of Common Stock

Dominion maintains Dominion Direct^® and a number of employee savings plans through which contributions may be invested in Dominion’s common stock. These shares may either be newly issued or purchased on the open market with proceeds contributed to these plans. In January 2014, Dominion began purchasing its common stock on the open market for these plans. In April 2014, Dominion began issuing new common shares for these direct stock purchase plans.

In December 2014, Dominion filed an SEC shelf registration for the sale of debt and equity securities including the ability to sell common stock through an at-the-market program. Also in December 2014, Dominion entered into four separate sales agency agreements to effect sales under the program and pursuant to which it may offer from time to time up to $500 million aggregate amount of its common stock. Sales of common stock can be made by means of privately negotiated transactions, as transactions on the NYSE at market prices or in such other transactions as are agreed upon by Dominion and the sales agents and in conformance with applicable securities laws. During the first quarter of 2015, Dominion provided sales instructions to two of the sales agents and issued 2.9 million shares through at-the-market issuances and received cash proceeds of approximately $219 million, net of fees and commissions paid of approximately $2 million. In April 2015, Dominion issued approximately 600 thousand shares through at-the-market issuances and received cash proceeds of approximately $43 million, net of fees and commissions paid of less than $1 million. Following these issuances, Dominion has the ability to issue up to approximately $235 million of stock under the 2014 sales agency agreements.

Note 15. Commitments and Contingencies

As a result of issues generated in the ordinary course of business, the Companies are involved in legal proceedings before various courts and are periodically subject to governmental examinations (including by regulatory authorities), inquiries and investigations. Certain legal proceedings and governmental examinations involve demands for unspecified amounts of damages, are in an initial procedural phase, involve uncertainty as to the outcome of pending appeals or motions, or involve significant factual issues that need to be resolved, such that it is not possible for the Companies to estimate a range of possible loss. For such matters for which the Companies cannot estimate a range of possible loss, a statement to this effect is made in the description of the matter. Other matters may have progressed sufficiently through the litigation or investigative processes such that the Companies are able to estimate a range of possible loss. For legal proceedings and governmental examinations for which the Companies are able to reasonably estimate a range of possible losses, an estimated range of possible loss is provided, in excess of the accrued liability (if any) for such matters. Any accrued liability is recorded on a gross basis with a receivable also recorded for any probable insurance recoveries. Estimated ranges of loss are inclusive of legal fees and net of any anticipated insurance recoveries. Any estimated range is based on currently available information and involves elements of judgment and significant uncertainties. Any estimated range of possible loss may not represent the Companies’ maximum possible loss exposure. The circumstances of such legal proceedings and governmental examinations will change from time to time and actual results may vary significantly from the current estimate. For current proceedings not specifically reported below, management does not anticipate that the liabilities, if any, arising from such proceedings would have a material effect on the financial position, liquidity or results of operations of the Companies.

Environmental Matters

The Companies are subject to costs resulting from a number of federal, state and local laws and regulations designed to protect human health and the environment. These laws and regulations affect future planning and existing operations. They can result in increased capital, operating and other costs as a result of compliance, remediation, containment and monitoring obligations.

Air

The CAA, as amended, is a comprehensive program utilizing a broad range of regulatory tools to protect and preserve the nation’s air quality. At a minimum, states are required to establish regulatory programs to address all requirements of the CAA. However, states may choose to develop regulatory programs that are more restrictive. Many of the Companies’ facilities are subject to the CAA’s permitting and other requirements.

In December 2011, the EPA issued MATS for coal and oil-fired electric utility steam generating units. The rule establishes strict emission limits for mercury, particulate matter as a surrogate for toxic metals and hydrogen chloride as a surrogate for acid gases. The rule includes a limited use provision for oil-fired units with annual capacity factors under 8% that provides an exemption from emission limits, and allows compliance with operational work practice standards. Compliance was required by April 16, 2015, with certain limited exceptions. However, in June 2014, the VDEQ granted a one-year MATS compliance extension for two coal-fired units at Yorktown to defer planned retirements and allow for continued operation of the units to address reliability concerns while necessary electric transmission upgrades are being completed. Due to delays in transmission upgrades needed to maintain electric reliability, these coal units will need to continue operating until early 2017. Therefore, Virginia Power plans to request from the EPA an additional one year compliance extension under an EPA Administrative Order.

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The EPA established CAIR with the intent to require significant reductions in SO₂ and NO_x emissions from electric generating facilities. In July 2008, the U.S. Court of Appeals for the D.C. Circuit issued a ruling vacating CAIR. In December 2008, the Court denied rehearing, but also issued a decision to remand CAIR to the EPA. In July 2011, the EPA issued a replacement rule for CAIR, called CSAPR, that required 28 states to reduce power plant emissions that cross state lines. CSAPR established new SO₂ and NO_x emissions cap and trade programs that were completely independent of the current ARP. Specifically, CSAPR required reductions in SO₂ and NO_x emissions from fossil fuel-fired electric generating units of 25 MW or more through annual NO_x emissions caps, NO_x emissions caps during the ozone season (May 1 through September 30) and annual SO₂ emission caps with differing requirements for two groups of affected states.

Following numerous petitions by industry participants for review and a successful motion for stay, in October 2014, the U.S. Court of Appeals for the D.C. Circuit ordered that the EPA’s motion to lift the stay of CSAPR be granted. Further, the Court granted the EPA’s request to shift the CSAPR compliance deadlines by three years, so that Phase 1 emissions budgets (which would have gone into effect in 2012 and 2013) will apply in 2015 and 2016, and Phase 2 emissions budgets will apply in 2017 and beyond. CSAPR replaced CAIR beginning in January 2015. The cost to comply is not expected to be material to the Consolidated Financial Statements. Future outcomes of any additional litigation and/or any action to issue a revised rule could affect the assessment regarding cost of compliance.

In May 2012, the EPA issued final designations for the 75-ppb ozone air quality standard. A number of the Companies’ facilities are located in areas impacted by this standard. As part of the standard, states will be required to develop and implement plans to address sources emitting pollutants which contribute to the formation of ozone. In November 2014, the EPA issued a new proposal to revise the ozone standard and expects to finalize the rule in October 2015. The EPA is not expected to complete attainment designations for a new standard until 2017 and states will have until 2020 to develop plans to address the new standard. Until the states have developed implementation plans, the Companies are unable to predict whether or to what extent the new rules will ultimately require additional controls. However, if significant expenditures are required to implement additional controls, it could adversely affect the Companies’ results of operations and cash flows.

In August 2010, the EPA issued revised National Emission Standards for Hazardous Air Pollutants for Reciprocating Internal Combustion Engines. The rule was amended in March 2011 and January 2013. The rule establishes emission standards for control of hazardous air pollutants for engines at smaller facilities, known as area sources. As a result of these regulations, Dominion Gas installed emissions controls on several compressor engines. Dominion Gas has spent approximately $2 million to date and is evaluating further expenditures. Dominion Gas is unable to estimate the additional potential impacts on results of operations, financial condition and/or cash flows related to this matter.

In August 2012, the EPA issued the first NSPS impacting the natural gas production and gathering sectors and made revisions to the NSPS for natural gas processing and transmission facilities. These rules establish equipment performance specifications and emissions standards for control of volatile organic compound emissions for natural gas production wells, tanks, pneumatic controllers, and compressors in the upstream sector. Compliance with these rules is required for installations and wells constructed or reconstructed after August 23, 2011. The cost to comply with the NSPS will depend on the number of new wells and new equipment installations subject to the rule; therefore, Dominion Gas is unable to estimate the potential impacts on results of operations, financial condition and/or cash flows related to this matter.

Water

The CWA, as amended, is a comprehensive program requiring a broad range of regulatory tools including a permit program to authorize and regulate discharges to surface waters with strong enforcement mechanisms. The Companies must comply with applicable aspects of the CWA programs at their operating facilities.

In October 2014, the final regulations under Section 316(b) of the CWA that govern existing facilities and new units at existing facilities that employ a cooling water intake structure and that have flow levels exceeding a minimum threshold became effective. The rule establishes a national standard for impingement based on seven compliance options, but forgoes the creation of a single technology standard for entrainment. Instead, the EPA has delegated entrainment technology decisions to state regulators. State regulators are to make case-by-case entrainment technology determinations after an examination of five mandatory facility-specific factors, including a social cost-benefit test, and six optional facility-specific factors. The rule governs all electric generating stations with water withdrawals above two MGD, with a heightened entrainment analysis for those facilities over 125 MGD. Dominion and Virginia Power have 14 and 11 facilities, respectively, that may be subject to the final regulations. Dominion anticipates that it will have to install impingement control technologies at many of these stations that have once-through cooling systems. Dominion and Virginia Power are currently evaluating the need or potential for

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entrainment controls under the final rule as these decisions will be made on a case-by-case basis after a thorough review of detailed biological, technology, cost and benefit studies. While the impacts of this rule could be material to Dominion’s and Virginia Power’s results of operations, financial condition and/or cash flows, the existing regulatory framework in Virginia provides rate recovery mechanisms that could substantially mitigate any such impacts for Virginia Power.

In September 2010, Millstone’s NPDES permit was reissued under the CWA. The conditions of the permit require an evaluation of control technologies that could result in additional expenditures in the future. The report summarizing the results of the evaluation was submitted in August 2012 and is under review by the Connecticut Department of Energy and Environmental Protection. Dominion cannot currently predict the outcome of this review. In October 2010, the permit issuance was appealed to the state court by a private plaintiff. The permit is expected to remain in effect during the appeal. In February 2015, the NPDES permit renewal application was submitted to the Connecticut Department of Energy and Environmental Protection along with a schedule to update the evaluation of control technologies consistent with the new federal 316(b) rule. Dominion is currently unable to make an estimate of the potential financial statement impacts related to this matter.

Solid and Hazardous Waste

The CERCLA, as amended, provides for immediate response and removal actions coordinated by the EPA in the event of threatened releases of hazardous substances into the environment and authorizes the U.S. government either to clean up sites at which hazardous substances have created actual or potential environmental hazards or to order persons responsible for the situation to do so. Under the CERCLA, as amended, generators and transporters of hazardous substances, as well as past and present owners and operators of contaminated sites, can be jointly, severally and strictly liable for the cost of cleanup. These potentially responsible parties can be ordered to perform a cleanup, be sued for costs associated with an EPA-directed cleanup, voluntarily settle with the U.S. government concerning their liability for cleanup costs, or voluntarily begin a site investigation and site remediation under state oversight.

From time to time, Dominion, Virginia Power, or Dominion Gas may be identified as a potentially responsible party to a Superfund site. The EPA (or a state) can either allow such a party to conduct and pay for a remedial investigation, feasibility study and remedial action or conduct the remedial investigation and action itself and then seek reimbursement from the potentially responsible parties. Each party can be held jointly, severally and strictly liable for the cleanup costs. These parties can also bring contribution actions against each other and seek reimbursement from their insurance companies. As a result, Dominion, Virginia Power, or Dominion Gas may be responsible for the costs of remedial investigation and actions under the Superfund law or other laws or regulations regarding the remediation of waste. Except as noted below, the Companies do not believe this will have a material effect on results of operations, financial condition and/or cash flows.

In September 2011, the EPA issued a UAO to Virginia Power and 22 other parties, ordering specific remedial action of certain areas at the Ward Transformer Superfund site located in Raleigh, North Carolina. Virginia Power does not believe it is a liable party under CERCLA based on its alleged connection to the site. In November 2011, Virginia Power and a number of other parties notified the EPA that they are declining to undertake the work set forth in the UAO.

The EPA may seek to enforce a UAO in court pursuant to its enforcement authority under CERCLA, and may seek recovery of its costs in undertaking removal or remedial action. If the court determines that a respondent failed to comply with the UAO without sufficient cause, the EPA may also seek civil penalties of up to $37,500 per day for the violation and punitive damages of up to three times the costs incurred by the EPA as a result of the party’s failure to comply with the UAO. Virginia Power is currently unable to make an estimate of the potential financial statement impacts related to the Ward Transformer matter.

Dominion has determined that it is associated with 17 former manufactured gas plant sites, three of which pertain to Virginia Power and 12 of which pertain to Dominion Gas. Studies conducted by other utilities at their former manufactured gas plant sites have indicated that those sites contain coal tar and other potentially harmful materials. None of the former sites with which the Companies are associated is under investigation by any state or federal environmental agency. At one of the former sites, Dominion is conducting a state-approved post-closure groundwater monitoring program and an environmental land use restriction has been recorded. Another site has been accepted into a state-based voluntary remediation program. Virginia Power is currently evaluating the nature and extent of the contamination from this site as well as potential remedial options. Preliminary costs for options under evaluation for the site range from $1 million to $22 million. Due to the uncertainty surrounding the other sites, the Companies are unable to make an estimate of the potential financial statement impacts.

In April 2015, the EPA’s final rule regulating the management of CCRs stored in impoundments (ash ponds) and landfills was published in the Federal Register. The final rule regulates CCR landfills, existing ash ponds that still receive and manage CCRs, and inactive ash ponds that do not receive, but still store CCRs. Virginia Power currently operates inactive ash ponds, existing ash ponds, and CCR landfills subject to the final rule at eight different facilities and is also evaluating other features at its

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facilities for potential applicability under the final CCR rule. The enactment of the final rule in April 2015 creates a legal obligation for Virginia Power to retrofit or close all of its inactive and existing ash ponds over a certain period of time, as well as perform required monitoring, corrective action, and post-closure care activities as necessary. Virginia Power is evaluating the cost and timing of compliance under the final rule in order to establish applicable ARO balances in the second quarter of 2015, which could have a material impact to its financial position and cash flows. Virginia Power does not expect these AROs to have a significant impact on overall results of operations taking into consideration the ash pond related liability established in 2014 as described below, as well as the potential for mitigation through rate recovery mechanisms under the existing regulatory framework in Virginia.

Climate Change Legislation and Regulation

In October 2013, the U.S. Supreme Court granted petitions filed by several industry groups, states, and the U.S. Chamber of Commerce seeking review of the D.C. Circuit Court’s June 2012 decision upholding the EPA’s regulation of GHG emissions from stationary sources under the CAA’s permitting programs. In June 2014, the U.S. Supreme Court ruled that the EPA lacked the authority under the CAA to require PSD or Title V permits for stationary sources based solely on GHG emissions. However, the Court upheld the EPA’s ability to require BACT for GHG for sources that are otherwise subject to PSD or Title V permitting for conventional pollutants. In July 2014, the EPA issued a memorandum specifying that it will no longer apply or enforce federal regulations or EPA-approved PSD state implementation plan provisions that require new and modified stationary sources to obtain a PSD permit when GHGs are the only pollutant that would be emitted at levels that exceed the permitting thresholds. In addition, the EPA stated that it will continue to use the existing thresholds to apply to sources that are otherwise subject to PSD for conventional pollutants until it completes a new rulemaking either justifying and upholding those thresholds or setting new ones. Some states have issued interim guidance that follows the EPA guidance. Due to uncertainty regarding what additional actions states may take to amend their existing regulations and what action the EPA ultimately takes to address the court ruling under a new rulemaking, the Companies cannot predict the impact to their financial statements at this time.

In July 2011, the EPA signed a final rule deferring the need for PSD and Title V permitting for CO₂ emissions for biomass projects. This rule temporarily deferred for a period of up to three years the consideration of CO₂ emissions from biomass projects when determining whether a stationary source meets the PSD and Title V applicability thresholds, including those for the application of BACT. The deferral policy expired in July 2014. In July 2013, the U.S. Court of Appeals for the D.C. Circuit vacated this rule; however, a mandate making this decision effective has not been issued. Virginia Power converted three coal-fired generating stations, Altavista, Hopewell and Southampton, to biomass during the CO₂ deferral period. It is unclear how the court’s decision or the EPA’s final policy regarding the treatment of specific feedstock will affect biomass sources that were permitted during the deferral period; however, the expenditures to comply with any new requirements could be material to Dominion’s and Virginia Power’s financial statements.

Other Legal Matters

The Companies are defendants in a number of lawsuits and claims involving unrelated incidents of property damage and personal injury. Due to the uncertainty surrounding these matters, the Companies are unable to make an estimate of the potential financial statement impacts; however, they could have a material impact on results of operations, financial condition and/or cash flows.

Appalachian Gateway

Following the completion of the Appalachian Gateway Project in 2012, DTI received multiple change order requests and other claims for additional payments from a pipeline contractor for the project. In July 2013, DTI filed a complaint in U.S. District Court, Eastern District of Virginia for breach of contract as well as accounting and declaratory relief. The contractor filed a motion to dismiss, or in the alternative, a motion to transfer venue to Pennsylvania and/or West Virginia, where the pipelines were constructed. DTI filed an opposition to the contractor’s motion in August 2013. In November 2013, the court granted the contractor’s motion on the basis that DTI must first comply with the dispute resolution process. Pursuant to the ruling, DTI intends to mediate the matter. This case is pending. DTI has accrued a liability of approximately $6 million for this matter. Dominion Gas cannot currently estimate additional financial statement impacts, but there could be a material impact to its financial condition and/or cash flows.

Ash Pond Closure Costs

In September 2014, Virginia Power received a notice from the SELC on behalf of the Potomac Riverkeeper and Sierra Club alleging CWA violations at Possum Point. The notice alleges unpermitted discharges to surface water and groundwater from Possum Point’s historical and active ash storage facilities. A similar notice from the SELC on behalf of the Sierra Club was subsequently received related to Chesapeake. In December 2014, Virginia Power offered to close all of its coal ash ponds and landfills at Possum Point, Chesapeake and Bremo as settlement of the potential litigation. While the issue is open to potential further negotiations, the SELC declined the offer as presented in January 2015 and, in March 2015, filed a lawsuit related to its

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claims of the alleged CWA violations at Chesapeake. As a result of the settlement offer, Virginia Power recognized a charge of $121 million in other operations and maintenance expense in its Consolidated Statements of Income in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014. Virginia Power expects to reverse this contingent liability and recognize the ARO in the second quarter of 2015 as described above, as the legal obligations created by the final CCR rule represent substantially the same activities contemplated by this settlement offer with respect to Possum Point, Chesapeake and Bremo. Any difference in measurement is not expected to be material to Virginia Power’s results of operations.

Nuclear Matters

In March 2011, a magnitude 9.0 earthquake and subsequent tsunami caused significant damage at the Fukushima Daiichi nuclear power station in northeast Japan. These events have resulted in significant nuclear safety reviews required by the NRC and industry groups such as INPO. Like other U.S. nuclear operators, Dominion has been gathering supporting data and participating in industry initiatives focused on the ability to respond to and mitigate the consequences of design-basis and beyond-design-basis events at its stations.

In July 2011, an NRC task force provided initial recommendations based on its review of the Fukushima Daiichi accident and in October 2011, the NRC staff prioritized these recommendations into Tiers 1, 2 and 3, with the Tier 1 recommendations consisting of actions which the staff determined should be started without unnecessary delay. In December 2011, the NRC Commissioners approved the agency staff’s prioritization and recommendations, and that same month an appropriations act directed the NRC to require reevaluation of external hazards (not limited to seismic and flooding hazards) as soon as possible.

Based on the prioritized recommendations, in March 2012, the NRC issued orders and information requests requiring specific reviews and actions to all operating reactors, construction permit holders and combined license holders based on the lessons learned from the Fukushima Daiichi event. The orders applicable to Dominion require implementation of safety enhancements related to mitigation strategies to respond to extreme natural events resulting in the loss of power at plants, and enhancing spent fuel pool instrumentation. The orders require prompt implementation of the safety enhancements and completion of implementation within two refueling outages or by December 31, 2016, whichever comes first. Implementation of these enhancements is currently in progress. The information requests issued by the NRC request each reactor to reevaluate the seismic and flooding hazards at their site using present-day methods and information, conduct walkdowns of their facilities to ensure protection against the hazards in their current design basis, and to reevaluate their emergency communications systems and staffing levels. Dominion and Virginia Power do not currently expect that compliance with the NRC’s March 2012 orders and information requests will materially impact their financial position, results of operations or cash flows during the approximately four-year implementation period. The NRC staff is evaluating the implementation of the longer-term Tier 2 and Tier 3 recommendations. Dominion and Virginia Power are currently unable to estimate the potential financial impacts related to compliance with Tier 2 and Tier 3 recommendations.

Guarantees, Surety Bonds and Letters of Credit

Dominion

At March 31, 2015, Dominion had issued $74 million of guarantees, primarily to support equity method investees. No significant amounts related to these guarantees have been recorded. As of March 31, 2015, Dominion’s exposure under these guarantees was $39 million, primarily related to certain reserve requirements associated with non-recourse financing.

Dominion also enters into guarantee arrangements on behalf of its consolidated subsidiaries, primarily to facilitate their commercial transactions with third parties. To the extent that a liability subject to a guarantee has been incurred by one of Dominion’s consolidated subsidiaries, that liability is included in the Consolidated Financial Statements. Dominion is not required to recognize liabilities for guarantees issued on behalf of its subsidiaries unless it becomes probable that it will have to perform under the guarantees. Terms of the guarantees typically end once obligations have been paid. Dominion currently believes it is unlikely that it would be required to perform or otherwise incur any losses associated with guarantees of its subsidiaries’ obligations.

At March 31, 2015, Dominion had issued the following subsidiary guarantees:

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	Stated Limit		Value(1)
(millions)
Subsidiary debt(2)	$	27	$	27
Commodity transactions(3)		2,816		1,075
Nuclear obligations(4)		199		79
Cove Point(5)		1,910		—
Solar(6)		531		171
Other(7)		528		36
Total	$	6,011	$	1,388

(1) Represents the estimated portion of the guarantee’s stated limit that is utilized as of March 31, 2015 based upon prevailing economic conditions and fact patterns specific to each guarantee arrangement. For those guarantees related to obligations that are recorded as liabilities by Dominion’s subsidiaries, the value includes the recorded amount.

(2) Guarantee of debt of a DEI subsidiary. In the event of default by the subsidiary, Dominion would be obligated to repay such amounts.

(3) Guarantees related to commodity commitments of certain subsidiaries, including subsidiaries of Virginia Power, Dominion Gas and DEI. These guarantees were provided to counterparties in order to facilitate physical and financial transactions in gas, oil, electricity, pipeline capacity, transportation and related commodities and services. If any of these subsidiaries fail to perform or pay under the contracts and the counterparties seek performance or payment, Dominion would be obligated to satisfy such obligation. Dominion and its subsidiaries receive similar guarantees as collateral for credit extended to others. The value provided includes certain guarantees that do not have stated limits.

(4) Guarantees related to certain DEI subsidiaries’ potential retrospective premiums that could be assessed if there is a nuclear incident under Dominion’s nuclear insurance programs and guarantees for a DEI subsidiary’s and Virginia Power’s commitment to buy nuclear fuel. Excludes Dominion’s agreement to provide up to $150 million and $60 million to two DEI subsidiaries to pay the operating expenses of Millstone (in the event of a prolonged outage) and Kewaunee, respectively, as part of satisfying certain NRC requirements concerned with ensuring adequate funding for the operations of nuclear power stations. The agreement for Kewaunee also provides for funds through the completion of decommissioning.

(5) Guarantees related to Cove Point, in support of terminal services, transportation and construction. Two of the guarantees have no stated limit, one guarantee has a $150 million limit, and one guarantee has a $1.75 billion aggregate limit with an annual draw limit of $175 million.

(6) Includes guarantees to facilitate the development of solar projects including guarantees to support the issuance of full notice to proceed under EPC agreements. Includes certain guarantees that do not have stated limits. Also includes guarantees entered into by DEI on behalf of certain subsidiaries to facilitate the acquisition and development of solar projects.

(7) Guarantees related to other miscellaneous contractual obligations such as leases, environmental obligations and construction projects. Also includes guarantees related to certain DEI subsidiaries’ obligations for equity capital contributions and energy generation associated with Fowler Ridge and NedPower. As of March 31, 2015, Dominion’s maximum remaining cumulative exposure under these equity funding agreements is $63 million through 2019 and its maximum annual future contributions could range from approximately $4 million to $19 million. The value provided includes certain guarantees that do not have stated limits.

Additionally, at March 31, 2015, Dominion had purchased $134 million of surety bonds, including $65 million at Virginia Power and $30 million at Dominion Gas, and authorized the issuance of letters of credit by financial institutions of $48 million to facilitate commercial transactions by its subsidiaries with third parties. Under the terms of surety bonds, the Companies are obligated to indemnify the respective surety bond company for any amounts paid.

Note 16. Credit Risk

The Companies’ accounting policies for credit risk are discussed in Note 23 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014.

At March 31, 2015, Dominion’s credit exposure totaled $356 million. Of this amount, investment grade counterparties, including those internally rated, represented 89%. No single counterparty, whether investment grade or non-investment grade, exceeded $46 million of exposure.

Credit-Related Contingent Provisions

The majority of Dominion’s derivative instruments contain credit-related contingent provisions. These provisions require Dominion to provide collateral upon the occurrence of specific events, primarily a credit rating downgrade. If the credit-related contingent features underlying these instruments that are in a liability position and not fully collateralized with cash were fully triggered as of March 31, 2015 and December 31, 2014, Dominion would have been required to post an additional $16 million and $20 million, respectively, of collateral to its counterparties. The collateral that would be required to be posted includes the impacts of any offsetting asset positions and any amounts already posted for derivatives, non-derivative contracts and derivatives elected under the normal purchases and normal sales exception, per contractual terms. Dominion had posted approximately $96 million and $1 million in collateral at March 31, 2015 and December 31, 2014, respectively, related to

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derivatives with credit-related contingent provisions that are in a liability position and not fully collateralized with cash. The collateral posted includes any amounts paid related to non-derivative contracts and derivatives elected under the normal purchases and normal sales exception, per contractual terms. The aggregate fair value of all derivative instruments with credit-related contingent provisions that are in a liability position and not fully collateralized with cash as of March 31, 2015 and December 31, 2014 was $40 million and $49 million, respectively, which does not include the impact of any offsetting asset positions. Credit-related contingent provisions for Virginia Power and Dominion Gas were not material as of March 31, 2015 and December 31, 2014. See Note 9 for further information about derivative instruments.

Dominion Gas

In the first quarter of 2015, DTI provided service to 248 customers with approximately 94% of its storage and transportation revenue being provided through firm services. The ten largest customers provided approximately 42% of the total storage and transportation revenue of approximately $201 million and the thirty largest provided approximately 73% of total storage and transportation revenue. Approximately 98% of the transmission capacity under contract on DTI’s pipeline is subscribed with long-term contracts (two years or greater). The remaining 2% is contracted on a year-to-year basis. Less than 1% of firm transportation capacity is currently unsubscribed. All storage services are subscribed under long-term contracts.

East Ohio distributes natural gas to residential, commercial and industrial customers in Ohio using rates established by the Ohio Commission. Approximately 99% of East Ohio revenues are derived from its jurisdictional gas services. East Ohio’s bad debt risk is mitigated by the regulatory framework established by the Ohio Commission.

Note 17. Related Party Transactions

Virginia Power and Dominion Gas engage in related party transactions primarily with other Dominion subsidiaries (affiliates). Virginia Power’s and Dominion Gas’ receivable and payable balances with affiliates are settled based on contractual terms or on a monthly basis, depending on the nature of the underlying transactions. Virginia Power and Dominion Gas are included in Dominion’s consolidated federal income tax return. A discussion of significant related party transactions follows.

Virginia Power

Transactions with Affiliates

Virginia Power transacts with affiliates for certain quantities of natural gas and other commodities in the ordinary course of business. Virginia Power also enters into certain commodity derivative contracts with affiliates. Virginia Power uses these contracts, which are principally comprised of commodity swaps, to manage commodity price risks associated with purchases of natural gas. As of March 31, 2015, Virginia Power’s derivative assets and liabilities with affiliates were $24 million and $7 million, respectively. As of December 31, 2014, Virginia Power’s derivative assets and liabilities with affiliates were not material. See Notes 7 and 9 for more information.

Virginia Power participates in certain Dominion benefit plans described in Note 18. In Virginia Power’s Consolidated Balance Sheets at March 31, 2015 and December 31, 2014, amounts due to Dominion associated with these benefit plans included in other deferred credits and other liabilities were $243 million and $219 million, respectively, and amounts due from Dominion at March 31, 2015 included in other deferred charges and other assets were $46 million.

DRS and other affiliates provide accounting, legal, finance and certain administrative and technical services to Virginia Power. In addition, Virginia Power provides certain services to affiliates, including charges for facilities and equipment usage.

Presented below are Virginia Power’s significant transactions with DRS and other affiliates:

	Three Months Ended March 31,
	2015		2014
(millions)
Commodity purchases from affiliates	$	252	$	202
Services provided by affiliates(1)		110		108
Services provided to affiliates		5		5

(1) Includes capitalized expenditures.

Virginia Power has borrowed funds from Dominion under short-term borrowing arrangements. There were $10 million and $427 million in short-term demand note borrowings from Dominion as of March 31, 2015 and December 31, 2014, respectively. Virginia Power had no outstanding borrowings, net of repayments under the Dominion money pool for its nonregulated subsidiaries as of March 31, 2015 and December 31, 2014. Interest charges related to Virginia Power’s borrowings from Dominion were immaterial for the three months ended March 31, 2015 and 2014.

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There were no issuances of Virginia Power’s common stock to Dominion for the three months ended March 31, 2015 and 2014.

Dominion Gas

Transactions with Related Parties

Dominion Gas transacts with affiliates for certain quantities of natural gas and other commodities at market prices in the ordinary course of business. Additionally, Dominion Gas provides transportation and storage services to affiliates. Dominion Gas also enters into certain other contracts with affiliates, which are presented separately from contracts involving commodities or services. As of March 31, 2015 and December 31, 2014, all of Dominion Gas’ commodity derivatives were with affiliates. See Notes 7 and 9 for more information. See Note 10 for information regarding sales of assets to an affiliate.

Dominion Gas participates in certain Dominion benefit plans as described in Note 18.

DRS and other affiliates provide accounting, legal, finance and certain administrative and technical services to Dominion Gas. Dominion Gas provides certain services to related parties, including technical services. The costs of these services follow:

	Three Months Ended March 31,
	2015		2014
(millions)
Purchases of natural gas and transportation and storage services from affiliates	$	2	$	18
Sales of natural gas and transportation and storage services to affiliates		18		21
Services provided by related parties(1)		34		28
Services provided to related parties		20		13

(1) Includes capitalized expenditures.

The following table presents affiliated and related party activity reflected in Dominion Gas’ Consolidated Balance Sheets:

	March 31, 2015		December 31, 2014
(millions)
Customer receivables from related parties(1)	$	11	$	22
Imbalances receivable from affiliates(2)		4		3
Affiliated notes receivable(3)		10		9

(1) Includes $5 million and $17 million due from Atlantic Coast Pipeline, a related party VIE, at March 31, 2015 and December 31, 2014, respectively.

(2) Amounts are presented in other current assets in Dominion Gas’ Consolidated Balance Sheets.

(3) Amounts are presented in other deferred charges and other assets in Dominion Gas’ Consolidated Balance Sheets.

Dominion Gas’ borrowings under the IRCA with Dominion totaled $39 million as of March 31, 2015 and $384 million as of December 31, 2014. Interest charges related to Dominion Gas’ total borrowings from Dominion were immaterial for the three months ended March 31, 2015 and 2014.

Note 18. Employee Benefit Plans

Dominion

The components of Dominion’s provision for net periodic benefit cost (credit) were as follows:

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	Pension Benefits						Other Postretirement Benefits
	2015			2014			2015			2014
(millions)
Three Months Ended March 31,
Service cost	$	32		$	29		$	10		$	8
Interest cost		72			72			17			17
Expected return on plan assets		(133	)		(125	)		(29	)		(28	)
Amortization of prior service cost (credit)		—			1			(7	)		(7	)
Amortization of net actuarial loss		40			28			1			—
Net periodic benefit cost (credit)	$	11		$	5		$	(8	)	$	(10	)

Employer Contributions

During the three months ended March 31, 2015, Dominion made no contributions to its defined benefit pension plans or other postretirement benefit plans. Dominion expects to contribute approximately $12 million to its other postretirement benefit plans through VEBAs during the remainder of 2015.

Dominion Gas

Dominion Gas participates in certain Dominion benefit plans as described in Note 21 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014. At March 31, 2015 and December 31, 2014, Dominion Gas’ amounts due from Dominion associated with the Dominion Pension Plan and reflected in noncurrent pension and other postretirement benefit assets in the Consolidated Balance Sheets were $623 million and $614 million, respectively. At March 31, 2015 and December 31, 2014, Dominion Gas’ amounts due to Dominion associated with the Dominion Retiree Health and Welfare Plan and reflected in other deferred credits and other liabilities in the Consolidated Balance Sheets were $6 million and $7 million, respectively.

The components of Dominion Gas’ provision for net periodic benefit credit for employees represented by collective bargaining units were as follows:

	Pension Benefits						Other Postretirement Benefits
	2015			2014			2015			2014
(millions)
Three Months Ended March 31,
Service cost	$	3		$	3		$	2		$	1
Interest cost		7			7			3			3
Expected return on plan assets		(31	)		(29	)		(6	)		(5	)
Amortization of net actuarial loss		5			5			1			—
Net periodic benefit credit	$	(16	)	$	(14	)	$	—		$	(1	)

Employer Contributions

During the three months ended March 31, 2015, Dominion Gas made no contributions to its defined benefit pension plans or other postretirement benefit plans. Dominion Gas expects to contribute approximately $12 million to its other postretirement benefit plans through VEBAs, for both employees represented by collective bargaining units and employees not represented by collective bargaining units, during the remainder of 2015.

Note 19. Operating Segments

The Companies are organized primarily on the basis of products and services sold in the U.S. A description of the operations included in the Companies’ primary operating segments is as follows:

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Primary Operating Segment	Description of Operations	Dominion		Virginia Power		Dominion Gas
DVP	Regulated electric distribution		X		X
	Regulated electric transmission		X		X
Dominion Generation	Regulated electric fleet		X		X
	Merchant electric fleet		X
	Nonregulated retail energy marketing		X
Dominion Energy	Gas transmission and storage(1)		X				X
	Gas distribution and storage		X				X
	Gas gathering and processing		X				X
	LNG import and storage		X

(1) Includes remaining producer services activities for Dominion.

In addition to the operating segments above, the Companies also report a Corporate and Other segment.

Dominion

The Corporate and Other Segment of Dominion includes its corporate, service company and other functions (including unallocated debt) and the net impact of operations that are discontinued or sold. In addition, Corporate and Other includes specific items attributable to Dominion’s operating segments that are not included in profit measures evaluated by executive management in assessing the segments’ performance or allocating resources among the segments.

In January 2014, Dominion announced it would exit the electric retail energy marketing business. Dominion completed the sale in March 2014. As a result, the earnings impact from the electric retail energy marketing business has been included in the Corporate and Other Segment of Dominion for 2014 first quarter results of operations.

In the second quarter of 2013, Dominion commenced a repositioning of its producer services business, which aggregates natural gas supply, engages in natural gas trading and marketing activities and natural gas supply management and provides price risk management services to Dominion affiliates. The repositioning was completed in the first quarter of 2014 and resulted in the termination of natural gas trading and certain energy marketing activities. As a result, the earnings impact from natural gas trading and certain energy marketing activities has been included in the Corporate and Other Segment of Dominion for 2014.

In the three months ended March 31, 2015, Dominion reported an after-tax net expense of $48 million for specific items in the Corporate and Other segment, with $45 million of these net expenses attributable to its operating segments. In the three months ended March 31, 2014, Dominion reported an after-tax net expense of $228 million for specific items in the Corporate and Other segment, with $217 million of these net expenses attributable to its operating segments.

The net expense for specific items in 2015 primarily related to the impact of the following items:

• An $85 million ($52 million after-tax) write-off of deferred fuel costs associated with Virginia legislation enacted in February 2015, attributable to Dominion Generation; and

• A $17 million ($10 million after-tax) billing adjustment related to PJM, attributable to Dominion Generation; partially offset by

• A $27 million ($17 million after-tax) net gain on investments held in nuclear decommissioning trust funds, attributable to Dominion Generation.

The net expense for specific items in 2014 primarily related to the impact of the following items:

• A $319 million ($193 million after-tax) net loss related to the producer services business discussed above, attributable to Dominion Energy; and

• A $47 million ($33 million after-tax) net loss related to the electric retail energy marketing business discussed above, including a $147 million ($90 million after-tax) loss from normal operations, partially offset by a $100 million ($57 million after-tax) gain on sale, net of a $31 million write-off of goodwill, attributable to Dominion Generation.

The following table presents segment information pertaining to Dominion’s operations:

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	DVP		Dominion Generation		Dominion Energy		Corporate and Other			Adjustments/ Eliminations			Consolidated Total
(millions)
Three Months Ended March 31, 2015
Total revenue from external customers	$	564	$	2,122	$	379	$	(13	)	$	357		$	3,409
Intersegment revenue		5		26		360		142			(533	)		—
Total operating revenue		569		2,148		739		129			(176	)		3,409
Net income (loss) attributable to Dominion		140		282		207		(93	)		—			536
Three Months Ended March 31, 2014
Total revenue from external customers	$	502	$	2,260	$	362	$	(2	)	$	508		$	3,630
Intersegment revenue		2		24		489		147			(662	)		—
Total operating revenue		504		2,284		851		145			(154	)		3,630
Net income (loss) attributable to Dominion		131		309		208		(269	)		—			379

Intersegment sales and transfers for Dominion are based on contractual arrangements and may result in intersegment profit or loss that is eliminated in consolidation.

Virginia Power

The Corporate and Other Segment of Virginia Power primarily includes specific items attributable to its operating segments that are not included in profit measures evaluated by executive management in assessing the segments’ performance or allocating resources among the segments.

In the three months ended March 31, 2015, Virginia Power reported an after-tax net expense of $61 million for specific items in the Corporate and Other segment, all of which was attributable to its operating segments. There were no material net benefit or expense items in the Corporate and Other segment in the three months ended March 31, 2014.

The net expense for specific items in 2015 primarily related to the impact of the following items:

• An $85 million ($52 million after-tax) write-off of deferred fuel costs associated with Virginia legislation enacted in February 2015, attributable to Dominion Generation; and

• A $15 million ($9 million after-tax) billing adjustment related to PJM, attributable to Dominion Generation.

The following table presents segment information pertaining to Virginia Power’s operations:

	DVP		Dominion Generation		Corporate and Other			Consolidated Total
(millions)
Three Months Ended March 31, 2015
Operating revenue	$	567	$	1,585	$	(15	)	$	2,137
Net income (loss)		140		190		(61	)		269
Three Months Ended March 31, 2014
Operating revenue	$	502	$	1,481	$	—		$	1,983
Net income		134		189		1			324

Dominion Gas

The Corporate and Other Segment of Dominion Gas primarily includes specific items attributable to Dominion Gas’ operating segment that are not included in profit measures evaluated by executive management in assessing the segment’s performance and the effect of certain items recorded at Dominion Gas as a result of Dominion’s basis in the net assets contributed.

In the three months ended March 31, 2015 and 2014, Dominion Gas reported no amounts for specific items in the Corporate and Other segment.

The following table presents segment information pertaining to Dominion Gas’ operations:

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	Dominion Energy		Corporate and Other			Consolidated Total
(millions)
Three Months Ended March 31, 2015
Operating revenue	$	531	$	—		$	531
Net income (loss)		164		(3	)		161
Three Months Ended March 31, 2014
Operating revenue	$	569	$	—		$	569
Net income (loss)		166		(2	)		164

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS

OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MD&A discusses Dominion’s results of operations and general financial condition and Virginia Power’s and Dominion Gas’ results of operations. MD&A should be read in conjunction with the Companies’ Consolidated Financial Statements. Virginia Power and Dominion Gas meet the conditions to file under the reduced disclosure format, and therefore have omitted certain sections of MD&A.

Contents of MD&A

MD&A consists of the following information:

• Forward-Looking Statements

• Accounting Matters - Dominion

• Dominion

• Results of Operations

• Segment Results of Operations

• Virginia Power

• Results of Operations

• Dominion Gas

• Results of Operations

• Liquidity and Capital Resources - Dominion

• Future Issues and Other Matters - Dominion

Forward-Looking Statements

This report contains statements concerning the Companies’ expectations, plans, objectives, future financial performance and other statements that are not historical facts. These statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In most cases, the reader can identify these forward-looking statements by such words as “anticipate,” “estimate,” “forecast,” “expect,” “believe,” “should,” “could,” “plan,” “may,” “continue,” “target” or other similar words.

The Companies make forward-looking statements with full knowledge that risks and uncertainties exist that may cause actual results to differ materially from predicted results. Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Additionally, other factors may cause actual results to differ materially from those indicated in any forward-looking statement. These factors include but are not limited to:

• Unusual weather conditions and their effect on energy sales to customers and energy commodity prices;

• Extreme weather events and other natural disasters, including hurricanes, high winds, severe storms, earthquakes, flooding and changes in water temperatures and availability that can cause outages and property damage to facilities;

• Federal, state and local legislative and regulatory developments, including changes in federal and state tax laws and regulations;

• Changes to federal, state and local environmental laws and regulations, including those related to climate change, the tightening of emission or discharge limits for GHGs and other emissions, more extensive permitting requirements and the regulation of additional substances;

• Cost of environmental compliance, including those costs related to climate change;

• Changes in enforcement practices of regulators relating to environmental standards and litigation exposure for remedial activities;

• Changes in regulator implementation of environmental standards and litigation exposure for remedial activities;

• Difficulty in anticipating mitigation requirements associated with environmental and other regulatory approvals;

• Risks associated with the operation of nuclear facilities, including costs associated with the disposal of spent nuclear fuel, decommissioning, plant maintenance and changes in existing regulations governing such facilities;

• Unplanned outages at facilities in which the Companies have an ownership interest;

• Fluctuations in energy-related commodity prices and the effect these could have on Dominion’s and Dominion Gas’ earnings and the Companies’ liquidity position and the underlying value of their assets;

• Counterparty credit and performance risk;

• Capital market conditions, including the availability of credit and the ability to obtain financing on reasonable terms;

• Risks associated with Virginia Power’s membership and participation in PJM, including risks related to obligations created by the default of other participants;

• Fluctuations in the value of investments held in nuclear decommissioning trusts by Dominion and Virginia Power and in benefit plan trusts by Dominion and Dominion Gas;

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• Fluctuations in interest rates;

• Changes in rating agency requirements or credit ratings and their effect on availability and cost of capital;

• Changes in financial or regulatory accounting principles or policies imposed by governing bodies;

• Employee workforce factors including collective bargaining agreements and labor negotiations with union employees;

• Risks of operating businesses in regulated industries that are subject to changing regulatory structures;

• Impacts of acquisitions, divestitures, transfers of assets to joint ventures or Dominion Midstream, and retirements of assets based on asset portfolio reviews;

• Receipt of approvals for, and timing of, closing dates for acquisitions and divestitures;

• The timing and execution of Dominion Midstream’s growth strategy;

• Changes in rules for RTOs and ISOs in which Dominion and Virginia Power participate, including changes in rate designs, changes in FERC’s interpretation of market rules and new and evolving capacity models;

• Political and economic conditions, including inflation and deflation;

• Domestic terrorism and other threats to the Companies’ physical and intangible assets, as well as threats to cybersecurity;

• Changes in demand for the Companies’ services, including industrial, commercial and residential growth or decline in the Companies’ service areas, changes in supplies of natural gas delivered to Dominion Gas’ pipeline and processing systems, failure to maintain or replace customer contracts on favorable terms, changes in customer growth or usage patterns, including as a result of energy conservation programs, the availability of energy efficient devices and the use of distributed generation methods;

• Additional competition in industries in which the Companies operate, including in electric markets in which Dominion’s merchant generation facilities operate, and competition in the development, construction and ownership of certain electric transmission facilities in Virginia Power’s service territory in connection with FERC Order 1000;

• Changes in technology, particularly with respect to new, developing or alternative sources of generation and smart grid technologies;

• Changes to regulated electric rates collected by Virginia Power and regulated gas distribution, transportation and storage rates, including LNG storage, collected by Dominion and Dominion Gas;

• Changes in operating, maintenance and construction costs;

• Timing and receipt of regulatory approvals necessary for planned construction or expansion projects and compliance with conditions associated with such regulatory approvals;

• The inability to complete planned construction, conversion or expansion projects at all, or with the outcomes or within the terms and time frames initially anticipated;

• Adverse outcomes in litigation matters or regulatory proceedings; and

• The impact of operational hazards, including adverse developments with respect to pipeline and plant safety or integrity, equipment loss, malfunction or failure, operator error, and other catastrophic events.

Additionally, other risks that could cause actual results to differ from predicted results are set forth in Item 1A. Risk Factors in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014.

The Companies’ forward-looking statements are based on beliefs and assumptions using information available at the time the statements are made. The Companies caution the reader not to place undue reliance on their forward-looking statements because the assumptions, beliefs, expectations and projections about future events may, and often do, differ materially from actual results. The Companies undertake no obligation to update any forward-looking statement to reflect developments occurring after the statement is made.

Accounting Matters

Critical Accounting Policies and Estimates

As of March 31, 2015 there have been no significant changes with regard to the critical accounting policies and estimates disclosed in MD&A in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014. The policies disclosed included the accounting for regulated operations, AROs, income taxes, derivative contracts and other instruments at fair value, goodwill and long-lived asset impairment testing and employee benefit plans.

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Dominion

Results of Operations

Presented below is a summary of Dominion’s consolidated results:

	2015		2014		$ Change
(millions, except EPS)
First Quarter
Net income attributable to Dominion	$	536	$	379	$	157
Diluted EPS		0.91		0.65		0.26

Overview

First Quarter 2015 vs. 2014

Net income attributable to Dominion increased 41% primarily due to the absence of losses related to the repositioning of Dominion’s producer services business, which was completed in the first quarter of 2014, partially offset by the write-off of deferred fuel costs associated with Virginia legislation enacted in February 2015.

Analysis of Consolidated Operations

Presented below are selected amounts related to Dominion’s results of operations:

	First Quarter
	2015		2014		$ Change
(millions)
Operating revenue	$	3,409	$	3,630	$	(221	)
Electric fuel and other energy-related purchases		953		1,334		(381	)
Purchased electric capacity		94		88		6
Purchased gas		250		540		(290	)
Net revenue		2,112		1,668		444
Other operations and maintenance		602		425		177
Depreciation, depletion and amortization		343		308		35
Other taxes		165		167		(2	)
Other income		60		40		20
Interest and related charges		223		237		(14	)
Income tax expense		299		186		113

An analysis of Dominion’s results of operations follows:

First Quarter 2015 vs. 2014

Net revenue increased 27%, primarily reflecting:

• The absence of losses related to the repositioning of Dominion’s producer services business in the first quarter of 2014, reflecting the termination of natural gas trading and certain energy marketing activities ($315 million);

• The absence of losses related to the retail electric energy marketing business which was sold in the first quarter of 2014 ($130 million); and

• A $24 million increase in rider revenue related to regulated natural gas distribution low income assistance programs.

These increases were partially offset by:

• A $32 million decrease in merchant generation margins, primarily due to lower realized prices; and

• A $12 million decrease from electric utility operations, primarily reflecting:

• An $85 million write-off of deferred fuel costs associated with Virginia legislation enacted in February 2015;

• A decrease in PJM ancillary revenues ($32 million); partially offset by

• An increase from rate adjustment clauses ($76 million);

• An increase in sales to customers due to the effect of favorable economic conditions on customer usage and other factors ($24 million); and

• An increase in sales to retail customers, primarily due to an increase in heating degree days ($4 million).

Other operations and maintenance increased 42%, primarily reflecting:

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• The absence of a gain on the sale of Dominion’s electric retail energy marketing business in March 2014 ($100 million), net of a $31 million write-off of goodwill;

• The absence of gains on the sale of assets to Blue Racer ($59 million);

• A $32 million increase in certain electric transmission-related expenditures. These expenses are primarily recovered through state and FERC rates and do not impact net income;

• A $24 million increase in bad debt expense at regulated natural gas distribution operations primarily related to low income assistance programs. These bad debt expenses are recovered through rates and do not impact net income; and

• A $13 million increase in utility nuclear refueling outage costs primarily due to the amortization of outage costs that were previously deferred pursuant to Virginia legislation enacted in April 2014.

These increases were partially offset by:

• A $70 million gain from agreements to convey Marcellus Shale development rights underneath several natural gas storage fields.

Depreciation, depletion and amortization increased 11%, primarily due to property additions.

Other income increased 50%, primarily due to higher realized gains (including investment income) on nuclear decommissioning trust funds ($12 million) and an increase in earnings from equity method investments ($4 million).

Income tax expense increased 61%, primarily reflecting higher pre-tax income. In 2015, Dominion expects its effective tax rate for the entire year to be in the range of 32% to 34%, as compared to the 35.7% reported in the first quarter of 2015. Beginning in the second quarter of 2015, the investment tax credits to be claimed on merchant solar projects acquired during that period will be reflected in the annual effective tax rate.

Segment Results of Operations

Segment results include the impact of intersegment revenues and expenses, which may result in intersegment profit and loss. Presented below is a summary of contributions by Dominion’s operating segments to net income attributable to Dominion:

	Net Income attributable to Dominion									Diluted EPS
	2015			2014			$ Change			2015			2014			$ Change
(millions, except EPS)
First Quarter
DVP	$	140		$	131		$	9		$	0.24		$	0.22		$	0.02
Dominion Generation		282			309			(27	)		0.48			0.53			(0.05	)
Dominion Energy		207			208			(1	)		0.35			0.36			(0.01	)
Primary operating segments		629			648			(19	)		1.07			1.11			(0.04	)
Corporate and Other		(93	)		(269	)		176			(0.16	)		(0.46	)		0.30
Consolidated	$	536		$	379		$	157		$	0.91		$	0.65		$	0.26

DVP

Presented below are selected operating statistics related to DVP’s operations:

	First Quarter
	2015		2014		% Change
Electricity delivered (million MWh)		22.9		22.4		2	%
Degree days (electric distribution service area):
Cooling		—		—		—
Heating		2,364		2,294		3
Average electric distribution customer accounts (thousands)(1)		2,518		2,492		1

(1) Period average.

Presented below, on an after-tax basis, are the key factors impacting DVP’s net income contribution:

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	First Quarter 2015 vs. 2014 Increase (Decrease)
	Amount			EPS
(millions, except EPS)
Regulated electric sales:
Weather	$	1		$	—
Other		6			0.01
FERC transmission equity return		12			0.02
Storm damage and service restoration		(1	)		—
Depreciation and amortization		(2	)		—
Other		(7	)		(0.01	)
Change in net income contribution	$	9		$	0.02

Dominion Generation

Presented below are selected operating statistics related to Dominion Generation’s operations:

	First Quarter
	2015		2014		% Change
Electricity supplied (million MWh):
Utility		22.9		22.5		2	%
Merchant		6.4		6.4		—
Degree days (electric utility service area):
Cooling		—		—		—
Heating		2,364		2,294		3
Average retail energy marketing customer accounts (thousands)(1)(2)		1,250		1,445		(13	)

(1) Period average.

(2) 2014 excludes 511 thousand average retail electric energy marketing customer accounts due to the sale of this business in March 2014.

Presented below, on an after-tax basis, are the key factors impacting Dominion Generation’s net income contribution:

	First Quarter 2015 vs. 2014 Increase (Decrease)
	Amount			EPS
(millions, except EPS)
Merchant generation margin	$	(15	)	$	(0.03	)
Regulated electric sales:
Weather		2			—
Other		9			0.02
PJM ancillary services		(12	)		(0.02	)
Rate adjustment clause equity return		11			0.02
Depreciation and amortization		(6	)		(0.01	)
Outage costs		(6	)		(0.01	)
Other		(10	)		(0.02	)
Change in net income contribution	$	(27	)	$	(0.05	)

Dominion Energy

Presented below are selected operating statistics related to Dominion Energy’s operations:

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	First Quarter
	2015		2014		% Change
Gas distribution throughput (bcf):
Sales		16		17		(6	)%
Transportation		162		128		27
Heating degree days (gas distribution service area)		3,575		3,513		2
Average gas distribution customer accounts (thousands)(1):
Sales		245		246		—
Transportation		1,063		1,062		—

(1) Period average.

Presented below, on an after-tax basis, are the key factors impacting Dominion Energy’s net income contribution:

	First Quarter 2015 vs. 2014 Increase (Decrease)
	Amount			EPS
(millions, except EPS)
Blue Racer(1)	$	(35	)	$	(0.06	)
Assignment of Marcellus acreage		43			0.07
Depreciation and amortization		(5	)		(0.01	)
Gas distribution margin:
Weather		1			—
Rate adjustment clauses		4			0.01
Other		1			—
Other		(10	)		(0.02	)
Change in net income contribution	$	(1	)	$	(0.01	)

(1) Primarily represents absence of gains from the sale of assets.

Corporate and Other

Presented below are the Corporate and Other segment’s after-tax results:

	First Quarter
	2015			2014			$ Change
(millions, except EPS)
Specific items attributable to operating segments	$	(45	)	$	(217	)	$	172
Specific items attributable to corporate operations		(3	)		(11	)		8
Total specific items		(48	)		(228	)		180
Other corporate operations		(45	)		(41	)		(4	)
Total net expense	$	(93	)	$	(269	)	$	176
EPS impact	$	(0.16	)	$	(0.46	)	$	0.30

Total Specific Items

Corporate and Other includes specific items attributable to Dominion’s primary operating segments that are not included in profit measures evaluated by executive management in assessing those segments’ performance or in allocating resources among the segments. See Note 19 to the Consolidated Financial Statements in this report for discussion of these items in more detail.

Virginia Power

Results of Operations

Presented below is a summary of Virginia Power’s consolidated results:

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	First Quarter
	2015		2014		$ Change
(millions)
Net income	$	269	$	324	$	(55	)

Overview

First Quarter 2015 vs. 2014

Net income decreased by 17% primarily due to the write-off of deferred fuel costs associated with Virginia legislation enacted in February 2015.

Analysis of Consolidated Operations

Presented below are selected amounts related to Virginia Power’s results of operations:

	First Quarter
	2015		2014		$ Change
(millions)
Operating revenue	$	2,137	$	1,983	$	154
Electric fuel and other energy-related purchases		810		650		160
Purchased electric capacity		94		88		6
Net revenue		1,233		1,245		(12	)
Other operations and maintenance		396		341		55
Depreciation and amortization		238		218		20
Other taxes		74		73		1
Other income		15		15		—
Interest and related charges		108		107		1
Income tax expense		163		197		(34	)

An analysis of Virginia Power’s results of operations follows:

First Quarter 2015 vs. 2014

Other operations and maintenance increased 16%, primarily reflecting:

• A $32 million increase in certain electric transmission-related expenditures. These expenses are primarily recovered through state and FERC rates and do not impact net income; and

• A $13 million increase in nuclear refueling outage costs primarily due to the amortization of outage costs that were previously deferred pursuant to Virginia legislation enacted in April 2014.

Income tax expense decreased 17%, primarily reflecting lower pre-tax income.

Dominion Gas

Results of Operations

Presented below is a summary of Dominion Gas’ consolidated results:

	First Quarter
	2015		2014		$ Change
(millions)
Net income	$	161	$	164	$	(3	)

Overview

First Quarter 2015 vs. 2014

Net income decreased by 2% reflecting decreased gains on sales of pipeline systems, partially offset by increased gains from agreements to convey Marcellus Shale development rights underneath several natural gas storage fields.

Analysis of Consolidated Operations

Presented below are selected amounts related to Dominion Gas’ results of operations:

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	First Quarter
	2015		2014		$ Change
(millions)
Operating revenue	$	531	$	569	$	(38	)
Purchased gas		74		137		(63	)
Other energy-related purchases		6		16		(10	)
Net revenue		451		416		35
Other operations and maintenance		74		53		21
Depreciation and amortization		51		47		4
Other taxes		55		51		4
Other income		9		8		1
Interest and related charges		17		6		11
Income tax expense		102		103		(1	)

An analysis of Dominion Gas’ results of operations follows:

First Quarter 2015 vs. 2014

Other operations and maintenance increased 40%, primarily reflecting:

• The absence of gains on the sales of pipeline systems ($59 million);

• A $24 million increase in bad debt expense at regulated natural gas distribution operations primarily related to low income assistance programs. These bad debt expenses are recovered through rates and do not impact net income; and

• Increased cost due to services performed for Blue Racer and Atlantic Coast Pipeline ($10 million). These expenses are offset in revenues and do not impact net income; partially offset by

• A $70 million gain from agreements to convey Marcellus Shale development rights underneath several natural gas storage fields.

Interest and related charges increased $11 million, primarily due to higher long-term debt interest expense resulting from debt issuances in December 2014.

Liquidity and Capital Resources

Dominion depends on both internal and external sources of liquidity to provide working capital and as a bridge to long-term debt financings. Short-term cash requirements not met by cash provided by operations are generally satisfied with proceeds from short-term borrowings. Long-term cash needs are met through issuances of debt and/or equity securities.

At March 31, 2015, Dominion had $1.3 billion of unused capacity under its credit facilities.

A summary of Dominion’s cash flows is presented below:

	2015			2014
(millions)
Cash and cash equivalents at January 1	$	318		$	316
Cash flows provided by (used in):
Operating activities		1,131			753
Investing activities		(1,499	)		(919	)
Financing activities		325			78
Net decrease in cash and cash equivalents		(43	)		(88	)
Cash and cash equivalents at March 31	$	275		$	228

Operating Cash Flows

Net cash provided by Dominion’s operating activities increased by $378 million, primarily due to the absence of losses related to the repositioning of Dominion’s producer services business in 2014 and higher deferred fuel cost recoveries in its Virginia jurisdiction. The increase was partially offset by changes in other working capital items.

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Dominion believes that its operations provide a stable source of cash flow to contribute to planned levels of capital expenditures and maintain or grow the dividend on common shares.

Dominion’s operations are subject to risks and uncertainties that may negatively impact the timing or amounts of operating cash flows, which are discussed in Item 1A. Risk Factors in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014.

Credit Risk

Dominion’s exposure to potential concentrations of credit risk results primarily from its energy marketing and price risk management activities. Presented below is a summary of Dominion’s credit exposure as of March 31, 2015 for these activities. Gross credit exposure for each counterparty is calculated prior to the application of collateral and represents outstanding receivables plus any unrealized on- or off-balance sheet exposure, taking into account contractual netting rights.

	Gross Credit Exposure		Credit Collateral		Net Credit Exposure
(millions)
Investment grade(1)	$	221	$	89	$	132
Non-investment grade(2)		1		—		1
No external ratings:
Internally rated—investment grade(3)		96		—		96
Internally rated—non-investment grade(4)		38		—		38
Total	$	356	$	89	$	267

(1) Designations as investment grade are based upon minimum credit ratings assigned by Moody’s and Standard & Poor’s. The five largest counterparty exposures, combined, for this category represented approximately 42% of the total net credit exposure.

(2) The five largest counterparty exposures, combined, for this category represented less than 1% of the total net credit exposure.

(3) The five largest counterparty exposures, combined, for this category represented approximately 35% of the total net credit exposure.

(4) The five largest counterparty exposures, combined, for this category represented approximately 10% of the total net credit exposure.

Investing Cash Flows

Net cash used in Dominion’s investing activities increased by $580 million, primarily due to Dominion’s acquisition of DCGT in 2015.

Financing Cash Flows and Liquidity

Dominion relies on capital markets as significant sources of funding for capital requirements not satisfied by cash provided by its operations. As discussed further in Credit Ratings and Debt Covenants in MD&A in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014, the ability to borrow funds or issue securities and the return demanded by investors are affected by credit ratings. In addition, the raising of external capital is subject to certain regulatory requirements, including registration with the SEC for certain issuances.

Dominion currently meets the definition of a well-known seasoned issuer under SEC rules governing the registration, communications and offering processes under the Securities Act of 1933, as amended. The rules provide for a streamlined shelf registration process to provide registrants with timely access to capital. This allows Dominion to use automatic shelf registration statements to register any offering of securities, other than those for exchange offers or business combination transactions.

In 2015, net cash provided by Dominion’s financing activities increased by $247 million, primarily reflecting the issuance of common stock through an at-the-market program and the absence of subsidiary preferred stock redemptions, which were completed in 2014. These increases were partially offset by lower net debt issuances.

See Note 14 to the Consolidated Financial Statements in this report for further information regarding Dominion’s credit facilities, liquidity and significant financing transactions.

Credit Ratings

Credit ratings are intended to provide banks and capital market participants with a framework for comparing the credit quality of securities and are not a recommendation to buy, sell or hold securities. In the Credit Ratings section of MD&A in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014, there is a discussion on the use of capital markets by Dominion as well as the impact of credit ratings on the accessibility and costs of using these markets. As of March 31, 2015, there have been no changes in Dominion’s credit ratings.

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Debt Covenants

In the Debt Covenants section of MD&A in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014, there is a discussion on the various covenants present in the enabling agreements underlying Dominion’s debt. As of March 31, 2015, there have been no material changes to debt covenants, nor any events of default under Dominion’s debt covenants.

Future Cash Payments for Contractual Obligations and Planned Capital Expenditures

As of March 31, 2015, there have been no material changes outside the ordinary course of business to Dominion’s contractual obligations nor any material changes to planned capital expenditures as disclosed in MD&A in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014.

Use of Off-Balance Sheet Arrangements

As of March 31, 2015, there have been no material changes in the off-balance sheet arrangements disclosed in MD&A in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014.

Future Issues and Other Matters

The following discussion of future issues and other information includes current developments of previously disclosed matters and new issues arising during the period covered by, and subsequent to, the dates of Dominion’s Consolidated Financial Statements that may impact future results of operations, financial condition and/or cash flows. This section should be read in conjunction with Item 1. Business and Future Issues and Other Matters in MD&A in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014.

Environmental Matters

Dominion is subject to costs resulting from a number of federal, state and local laws and regulations designed to protect human health and the environment. These laws and regulations affect future planning and existing operations. They can result in increased capital, operating and other costs as a result of compliance, remediation, containment and monitoring obligations. See Note 22 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014 and Note 15 to the Consolidated Financial Statements in this report for additional information on various environmental matters.

Legal Matters

See Item 3. Legal Proceedings in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014, and Notes 12 and 15 to the Consolidated Financial Statements and Item 1. Legal Proceedings in this report for additional information on various legal matters.

Regulatory Matters

See Note 13 to the Consolidated Financial Statements in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014 and Note 12 in this report for additional information on various regulatory matters.

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ITEM 3.

QUANTITATIVE AND QUALITATIVE

DISCLOSURES ABOUT MARKET RISK

The matters discussed in this Item may contain “forward-looking statements” as described in the introductory paragraphs under Part I, Item 2. MD&A in this report. The reader’s attention is directed to those paragraphs for discussion of various risks and uncertainties that may impact the Companies.

Market Risk Sensitive Instruments and Risk Management

The Companies’ financial instruments, commodity contracts and related financial derivative instruments are exposed to potential losses due to adverse changes in commodity prices, interest rates and equity security prices as described below. Commodity price risk is present in Dominion’s and Virginia Power’s electric operations and Dominion’s and Dominion Gas’ natural gas procurement and marketing operations due to the exposure to market shifts in prices received and paid for electricity, natural gas and other commodities. The Companies use commodity derivative contracts to manage price risk exposures for these operations. Interest rate risk is generally related to their outstanding debt and future issuances of debt. In addition, the Companies are exposed to investment price risk through various portfolios of equity and debt securities.

The following sensitivity analysis estimates the potential loss of future earnings or fair value from market risk sensitive instruments over a selected time period due to a 10% unfavorable change in commodity prices or interest rates.

Commodity Price Risk

To manage price risk, Dominion and Virginia Power primarily hold commodity-based financial derivative instruments held for non-trading purposes associated with purchases and sales of electricity, natural gas and other energy-related products and Dominion Gas primarily holds commodity-based financial derivative instruments held for non-trading purposes associated with purchases and sales of natural gas and other energy-related products.

The derivatives used to manage commodity price risk are executed within established policies and procedures and may include instruments such as futures, forwards, swaps, options and FTRs that are sensitive to changes in the related commodity prices. For sensitivity analysis purposes, the hypothetical change in market prices of commodity-based financial derivative instruments is determined based on models that consider the market prices of commodities in future periods, the volatility of the market prices in each period, as well as the time value factors of the derivative instruments. Prices and volatility are principally determined based on observable market prices.

A hypothetical 10% unfavorable change in commodity prices of Dominion’s commodity-based financial derivative instruments would have resulted in an increase in fair value of approximately $90 million and $101 million as of March 31, 2015 and December 31, 2014, respectively. The decline in sensitivity is largely due to decreased commodity derivative activity and lower commodity prices.

A hypothetical 10% unfavorable change in commodity prices would not have resulted in a material change in the fair value of Virginia Power’s commodity-based financial derivatives as of March 31, 2015 or December 31, 2014.

A hypothetical 10% unfavorable change in commodity prices of Dominion Gas’ commodity-based financial derivative instruments would have resulted in an increase in fair value of approximately $8 million and $2 million as of March 31, 2015 and December 31, 2014, respectively. The rise in sensitivity is largely due to increased commodity derivative activity.

The impact of a change in energy commodity prices on the Companies’ commodity-based financial derivative instruments at a point in time is not necessarily representative of the results that will be realized when the contracts are ultimately settled. Net losses from commodity derivative instruments used for hedging purposes, to the extent realized, will generally be offset by recognition of the hedged transaction, such as revenue from physical sales of the commodity.

Interest Rate Risk

The Companies manage their interest rate risk exposure predominantly by maintaining a balance of fixed and variable rate debt. They also enter into interest rate sensitive derivatives, including interest rate swaps and interest rate lock agreements. For variable rate debt and interest rate swaps designated under fair value hedging and outstanding for the Companies, a hypothetical 10% increase in market interest rates would not have resulted in a material change in earnings at March 31, 2015 or December 31, 2014.

The Companies may also use forward-starting interest rate swaps and interest rate lock agreements as anticipatory hedges.

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As of March 31, 2015 Dominion, Virginia Power and Dominion Gas had $4.9 billion, $1.8 billion and $250 million, respectively, in aggregate notional amounts of these interest rate derivatives outstanding. A hypothetical 10% decrease in market interest rates would have resulted in a decrease of approximately $54 million, $34 million and $2 million, respectively, in the fair value of Dominion’s, Virginia Power’s and Dominioni Gas’ interest rate derivatives at March 31, 2015. As of December 31, 2014, Dominion, Virginia Power and Dominion Gas had $4.1 billion, $1.5 billion and $250 million, respectively, in aggregate notional amounts of these interest rate derivatives outstanding. A hypothetical 10% decrease in market interest rates would have resulted in a decrease of approximately $46 million, $25 million and $2 million, respectively, in the fair value of Dominion’s, Virginia Power’s and Dominion Gas’ interest rate derivatives at December 31, 2014.

The impact of a change in interest rates on the Companies’ interest rate-based financial derivative instruments at a point in time is not necessarily representative of the results that will be realized when the contracts are ultimately settled. Net gains and/or losses from interest rate derivative instruments used for hedging purposes, to the extent realized, will generally be offset by recognition of the hedged transaction.

Investment Price Risk

Dominion and Virginia Power are subject to investment price risk due to securities held as investments in nuclear decommissioning and rabbi trust funds that are managed by third-party investment managers. These trust funds primarily hold marketable securities that are reported in Dominion’s and Virginia Power’s Consolidated Balance Sheets at fair value.

Dominion recognized net realized gains (including investment income) on nuclear decommissioning and rabbi trust investments of $60 million, $47 million and $176 million for the three months ended March 31, 2015 and 2014 and for the year ended December 31, 2014, respectively. Net realized gains and losses include gains and losses from the sale of investments as well as any other-than-temporary declines in fair value. Dominion recorded, in AOCI and regulatory liabilities, a net decrease in unrealized gains on these investments of $3 million for the three months ended March 31, 2015, and a net increase in unrealized gains on these investments of $18 million and $172 million for the three months ended March 31, 2014 and for the year ended December 31, 2014, respectively.

Virginia Power recognized net realized gains (including investment income) on nuclear decommissioning trust investments of $17 million, $23 million and $77 million for the three months ended March 31, 2015 and 2014 and for the year ended December 31, 2014, respectively. Net realized gains and losses include gains and losses from the sale of investments as well as any other-than-temporary declines in fair value. Virginia Power recorded, in AOCI and regulatory liabilities, a net increase in unrealized gains on these investments of $3 million, $8 million and $87 million for the three months ended March 31, 2015 and 2014 and for the year ended December 31, 2014, respectively.

Dominion sponsors pension and other postretirement employee benefit plans that hold investments in trusts to fund employee benefit payments. Virginia Power and Dominion Gas employees participate in these plans. Differences between actual and expected returns on plan assets are accumulated and amortized during future periods. As such, any investment-related declines in these trusts will result in future increases in the net periodic cost recognized for employee benefit plans and will be included in the determination of the amount of cash to be contributed to the employee benefit plans.

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ITEM 4. CONTROLS AND PROCEDURES

Senior management of each of Dominion, Virginia Power, and Dominion Gas, including Dominion’s, Virginia Power’s, and Dominion Gas’ CEO and CFO, evaluated the effectiveness of each of their respective Company’s disclosure controls and procedures as of the end of the period covered by this report. Based on this evaluation process, each of Dominion’s, Virginia Power’s, and Dominion Gas’ CEO and CFO have concluded that each of their respective Company’s disclosure controls and procedures are effective.

There were no changes in Dominion’s, Virginia Power’s, or Dominion Gas’ internal control over financial reporting that occurred during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Companies’ internal control over financial reporting.

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PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

From time to time, the Companies are alleged to be in violation or in default under orders, statutes, rules or regulations relating to the environment, compliance plans imposed upon or agreed to by the Companies, or permits issued by various local, state and/or federal agencies for the construction or operation of facilities. Administrative proceedings may also be pending on these matters. In addition, in the ordinary course of business, the Companies and their subsidiaries are involved in various legal proceedings.

In March 2015, DTI received a draft compliance order from the WVDEP in connection with a permit determination relating to emission sources at the Galmish loading and storage facilities. The draft compliance order includes a proposed penalty of $162,000. DTI is working with WVDEP to resolve this matter. The ultimate resolution of this compliance order is not expected to have a material effect on Dominion Gas.

See the following for discussions on various environmental and other regulatory proceedings to which the Companies are a party:

• Notes 13 and 22 to the Consolidated Financial Statements and Future Issues and Other Matters in MD&A in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014, which information is incorporated herein by reference, for discussion of various environmental and other regulatory proceedings to which the Companies are a party.

• Notes 12 and 15 in this report.

ITEM 1A. RISK FACTORS

The Companies businesses are influenced by many factors that are difficult to predict, involve uncertainties that may materially affect actual results and are often beyond the Companies’ control. A number of these risk factors have been identified in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014, which should be taken into consideration when reviewing the information contained in this report. There have been no material changes with regard to the risk factors previously disclosed in the Companies’ Annual Report on Form 10-K for the year ended December 31, 2014. For other factors that may cause actual results to differ materially from those indicated in any forward-looking statement or projection contained in this report, see Forward-Looking Statements in MD&A.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Dominion

ISSUER PURCHASES OF EQUITY SECURITIES

Period	Total Number of Shares (or Units) Purchased(1)		Average Price Paid per Share (or Unit)(2)		Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs		Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased under the Plans or Programs(3)
1/1/15-1/31/15		2,418	$	76.90		—	19,629,059 shares/ $1.18 billion
2/1/15-2/28/15		89,183		76.93		—	19,629,059 shares/ $1.18 billion
3/1/15-3/31/15		—		—		—	19,629,059 shares/ $1.18 billion
Total		91,601	$	76.93		—	19,629,059 shares/ $1.18 billion

(1) In January and February 2015, 2,418 shares and 89,183 shares, respectively, were tendered by employees to satisfy tax withholding obligations on vested restricted stock.

(2) Represents the weighted-average price paid per share.

(3) The remaining repurchase authorization is pursuant to repurchase authority granted by the Dominion BOD in February 2005, as modified in June 2007. The aggregate authorization granted by the Dominion BOD was 86 million shares (as adjusted to reflect a two-for-one stock split distributed in November 2007) not to exceed $4 billion.

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ITEM 6. EXHIBITS

Exhibit Number	Description	Dominion		Virginia Power		Dominion Gas
3.1.a	Dominion Resources, Inc. Articles of Incorporation as amended and restated, effective May 20, 2010 (Exhibit 3.1, Form 8-K filed May 20, 2010, File No. 1-8489).		X
3.1.b	Virginia Electric and Power Company Amended and Restated Articles of Incorporation, as in effect on October 30, 2014 (Exhibit 3.1.b, Form 10-Q filed November 3, 2014, File No. 1-2255).				X
3.1.c	Articles of Organization of Dominion Gas Holdings, LLC (Exhibit 3.1, Form S-4 filed April 4, 2014, File No. 333-195066).						X
3.2.a	Dominion Resources, Inc. Amended and Restated Bylaws, effective May 3, 2013 (Exhibit 3.1, Form 8-K filed May 3, 2013, File No. 1-8489).		X
3.2.b	Virginia Electric and Power Company Amended and Restated Bylaws, effective June 1, 2009 (Exhibit 3.1, Form 8-K filed June 3, 2009, File No. 1-2255).				X
3.2.c	Operating Agreement of Dominion Gas Holdings, LLC dated as of September 12, 2013 (Exhibit 3.2, Form S-4 filed April 4, 2014, File No. 333-195066).						X
4	Dominion Resources, Inc., Virginia Electric and Power Company and Dominion Gas Holdings, LLC agree to furnish to the Securities and Exchange Commission upon request any other instrument with respect to long-term debt as to which the total amount of securities authorized does not exceed 10% of either of their total consolidated assets.		X		X		X
10.1*	2015 Performance Grant Plan under 2015 Long-Term Incentive Program approved January 22, 2015 (Exhibit 10.42, Form 10-K for the fiscal year ended December 31, 2014, File No. 1-8489).		X		X		X
10.2*	Form of Restricted Stock Award Agreement under the 2015 Long-term Incentive Program approved January 22, 2015 (Exhibit 10.43, Form 10-K for the fiscal year ended December 31, 2014, File No. 1-8489).		X		X		X
12.1	Ratio of earnings to fixed charges for Dominion Resources, Inc. (filed herewith).		X
12.2	Ratio of earnings to fixed charges for Virginia Electric and Power Company (filed herewith).				X
12.3	Ratio of earnings to fixed charges for Dominion Gas Holdings, LLC (filed herewith).						X
31.a	Certification by Chief Executive Officer of Dominion Resources, Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).		X
31.b	Certification by Chief Financial Officer of Dominion Resources, Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).		X
31.c	Certification by Chief Executive Officer of Virginia Electric and Power Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).				X
31.d	Certification by Chief Financial Officer of Virginia Electric and Power Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).				X
31.e	Certification by Chief Executive Officer of Dominion Gas Holdings, LLC pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).						X
31.f	Certification by Chief Financial Officer of Dominion Gas Holdings, LLC pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).						X
32.a	Certification to the Securities and Exchange Commission by Chief Executive Officer and Chief Financial Officer of Dominion Resources, Inc. as required by Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith).		X

84

32.b	Certification to the Securities and Exchange Commission by Chief Executive Officer and Chief Financial Officer of Virginia Electric and Power Company as required by Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith).		X
32.c	Certification to the Securities and Exchange Commission by Chief Executive Officer and Chief Financial Officer of Dominion Gas Holdings, LLC as required by Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith).			X
99	Condensed consolidated earnings statements (filed herewith).	X	X
101	The following financial statements from Dominion Resources, Inc.’s, Virginia Electric and Power Company’s and Dominion Gas Holdings, LLC’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, filed on May 5, 2015, formatted in XBRL: (i) Consolidated Statements of Income, (ii) Consolidated Balance Sheets, (iii) Consolidated Statements of Comprehensive Income (iv) Consolidated Statements of Cash Flows, and (v) the Notes to Consolidated Financial Statements.	X	X	X

* Indicates management contract or compensatory plan or arrangement.

85

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	DOMINION RESOURCES, INC. Registrant
May 5, 2015	/s/ Michele L. Cardiff
	Michele L. Cardiff Vice President, Controller and Chief Accounting Officer
	VIRGINIA ELECTRIC AND POWER COMPANY Registrant
May 5, 2015	/s/ Michele L. Cardiff
	Michele L. Cardiff Vice President, Controller and Chief Accounting Officer
	DOMINION GAS HOLDINGS, LLC Registrant
May 5, 2015	/s/ Michele L. Cardiff
	Michele L. Cardiff Vice President, Controller and Chief Accounting Officer

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EXHIBIT INDEX

Exhibit Number	Description	Dominion	Virginia Power	Dominion Gas
3.1.a	Dominion Resources, Inc. Articles of Incorporation as amended and restated, effective May 20, 2010 (Exhibit 3.1, Form 8-K filed May 20, 2010, File No. 1-8489).	X
3.1.b	Virginia Electric and Power Company Amended and Restated Articles of Incorporation, as in effect on October 30, 2014 (Exhibit 3.1.b, Form 10-Q filed November 3, 2014, File No. 1-2255).		X
3.1.c	Articles of Organization of Dominion Gas Holdings, LLC (Exhibit 3.1, Form S-4 filed April 4, 2014, File No. 333-195066).			X
3.2.a	Dominion Resources, Inc. Amended and Restated Bylaws, effective May 3, 2013 (Exhibit 3.1, Form 8-K filed May 3, 2013, File No. 1-8489).	X
3.2.b	Virginia Electric and Power Company Amended and Restated Bylaws, effective June 1, 2009 (Exhibit 3.1, Form 8-K filed June 3, 2009, File No. 1-2255).		X
3.2.c	Operating Agreement of Dominion Gas Holdings, LLC dated as of September 12, 2013 (Exhibit 3.2, Form S-4 filed April 4, 2014, File No. 333-195066).			X
4	Dominion Resources, Inc., Virginia Electric and Power Company and Dominion Gas Holdings, LLC agree to furnish to the Securities and Exchange Commission upon request any other instrument with respect to long-term debt as to which the total amount of securities authorized does not exceed 10% of either of their total consolidated assets.	X	X	X
10.1*	2015 Performance Grant Plan under 2015 Long-Term Incentive Program approved January 22, 2015 (Exhibit 10.42, Form 10-K for the fiscal year ended December 31, 2014, File No. 1-8489).	X	X	X
10.2*	Form of Restricted Stock Award Agreement under the 2015 Long-term Incentive Program approved January 22, 2015 (Exhibit 10.43, Form 10-K for the fiscal year ended December 31, 2014, File No. 1-8489).	X	X	X
12.1	Ratio of earnings to fixed charges for Dominion Resources, Inc. (filed herewith).	X
12.2	Ratio of earnings to fixed charges for Virginia Electric and Power Company (filed herewith).		X
12.3	Ratio of earnings to fixed charges for Dominion Gas Holdings, LLC (filed herewith).			X
31.a	Certification by Chief Executive Officer of Dominion Resources, Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).	X
31.b	Certification by Chief Financial Officer of Dominion Resources, Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).	X
31.c	Certification by Chief Executive Officer of Virginia Electric and Power Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).		X
31.d	Certification by Chief Financial Officer of Virginia Electric and Power Company pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).		X
31.e	Certification by Chief Executive Officer of Dominion Gas Holdings, LLC pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).			X
31.f	Certification by Chief Financial Officer of Dominion Gas Holdings, LLC pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).			X
32.a	Certification to the Securities and Exchange Commission by Chief Executive Officer and Chief Financial Officer of Dominion Resources, Inc. as required by Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith).	X

87

32.b	Certification to the Securities and Exchange Commission by Chief Executive Officer and Chief Financial Officer of Virginia Electric and Power Company as required by Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith).		X
32.c	Certification to the Securities and Exchange Commission by Chief Executive Officer and Chief Financial Officer of Dominion Gas Holdings, LLC as required by Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith).			X
99	Condensed consolidated earnings statements (filed herewith).	X	X
101	The following financial statements from Dominion Resources, Inc.’s, Virginia Electric and Power Company’s and Dominion Gas Holdings, LLC’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, filed on May 5, 2015, formatted in XBRL: (i) Consolidated Statements of Income, (ii) Consolidated Balance Sheets, (iii) Consolidated Statements of Comprehensive Income (iv) Consolidated Statements of Cash Flows, and (v) the Notes to Consolidated Financial Statements.	X	X	X

* Indicates management contract or compensatory plan or arrangement.

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EX-12.1

Dominion Resources, Inc. and Subsidiaries	Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(millions of dollars)

						Years Ended December 31,
	Three Months Ended March 31, 2015(a)		Twelve Months Ended March 31, 2015(b)			2014(c)			2013(d)		2012(e)			2011(f)			2010(g)
Earnings, as defined:
Income from continuing operations including noncontrolling interest before income tax expense	$	839	$	2,046		$	1,778		$	2,704	$	2,265		$	2,262		$	5,178
Distributed income from unconsolidated investees, less equity in earnings		0		(7	)		(8	)		17		(13	)		(23	)		(30	)
Fixed charges included in income		234		1,224			1,237			930		880			867			835
Total earnings, as defined	$	1,073	$	3,263		$	3,007		$	3,651	$	3,132		$	3,106		$	5,983
Fixed charges, as defined:
Interest charges	$	227	$	1,196		$	1,208		$	899	$	845		$	818		$	781
Rental interest factor		7		28			29			31		35			49			54
Fixed charges included in income	$	234	$	1,224		$	1,237		$	930	$	880		$	867		$	835
Preference security dividend requirement of consolidated subsidiary		0		8			17			25		25			25			28
Capitalized Interest		12		44			39			28		24			11			11
Interest from discontinued operations		0		0			0			85		80			99			94
Total fixed charges, as defined	$	246	$	1,276		$	1,293		$	1,068	$	1,009		$	1,002		$	968
Ratio of Earnings to Fixed Charges		4.36		2.56			2.33			3.42		3.10			3.10			6.18

(a) Earnings for the three months ended March 31, 2015 include $85 million write-off of prior-period deferred fuel costs associated with Virginia legislation; partially offset by $26 million benefit related to other items. Excluding the effect of these items from the calculation would result in a higher ratio of earnings to fixed charges for the three months ended March 31, 2015.

(b) Earnings for the twelve months ended March 31, 2015 include $374 million charge related to North Anna and offshore wind facilities; $284 million charge associated with our liability management effort, which is included in fixed charges; $121 million accrued charge associated with future ash pond closure costs; $85 million write-off of prior-period deferred fuel costs associated with Virginia legislation and $92 million charge related to other items; partially offset by $83 million of net gain related to our investments in nuclear decommissioning trust funds. Excluding the effect of these items from the calculation would result in a higher ratio of earnings to fixed charges for the twelve months ended March 31, 2015.

(c) Earnings for the twelve months ended December 31, 2014 include $374 million charge related to North Anna and offshore wind facilities; $284 million charge associated with our liability management effort, which is included in fixed charges; $121 million accrued charge associated with future ash pond closure costs; $93 million charge related to other items; partially offset by $100 million net gain on the sale of our electric retail energy marketing business and $72 million of net gain related to our investments in nuclear decommissioning trust funds. Excluding the effect of these items from the calculation would result in a higher ratio of earnings to fixed charges for the twelve months ended December 31, 2014.

(d) Earnings for the twelve months ended December 31, 2013 include a $55 million impairment charge related to certain natural gas infrastructure assets; $40 million charge in connection with the Virginia Commission’s final ruling associated with its biennial review of Virginia Power’s base rates for 2011-2012 test years; $28 million charge associated with our operating expense reduction initiative, primarily reflecting severance pay and other employee related costs; $26 million charge related

to the expected early shutdown of certain coal-fired generating units; $29 million charge related to other items; partially offset by $81 million of net gain related to our investments in nuclear decommissioning trust funds; $47 million benefit due to a downward revision in the nuclear decommissioning asset retirement obligations for certain merchant nuclear units that are no longer in service; $29 million net benefit primarily resulting from the sale of Elwood. Excluding the net effect of these items from the calculation would result in a higher ratio of earnings to fixed charges for the twelve months ended December 31, 2013.

(e) Earnings for the twelve months ended December 31, 2012 include $438 million of impairment and other charges related the planned shut-down of Kewaunee; $87 million of restoration costs associated with severe storms affecting our Dominion Virginia Power and Dominion North Carolina service territories; partially offset by a $36 million net gain related to our investments in nuclear decommissioning trust funds and $4 million net benefit related to other items. Excluding the net effect of these items from the calculation would result in a higher ratio of earnings to fixed charges for the twelve months ended December 31, 2012.

(f) Earnings for the twelve months ended December 31, 2011 include $228 million of impairment charges related to electric utility generation assets; $96 million of restoration costs associated with Hurricane Irene; $43 million impairment of excess emission allowances resulting from a new EPA Air Pollution Rule; $31 million net charge in connection with the Virginia State Corporation Commission’s final ruling associated with its biennial review of Virginia Power’s base rates for 2009 and 2010 test years; $21 million of earthquake related costs, largely related to inspections following the safe shutdown of reactors at our North Anna nuclear power station; and a $45 million net charge related to other items; partially offset by a $24 million benefit related to litigation with the Department of Energy for spent nuclear fuel-related costs at our Millstone nuclear power station. Excluding the net effect of these items from the calculation would result in a higher ratio of earnings to fixed charges for the twelve months ended December 31, 2011.

(g) Earnings for the twelve months ended December 31, 2010 include a $2.4 billion benefit resulting from the sale of our Appalachian exploration and production (“E&P”) operations - primarily reflecting the gain on the sale partially offset by certain transaction costs and other related charges. Earnings for the period also include a $326 million charge related to the workforce reduction program primarily reflecting severance pay and other benefits to affected employees and $1 million net charge related to other items. Excluding the net effect of these items from the calculation would result in a lower ratio of earnings to fixed charges for the twelve months ended December 31, 2010.

EX-12.2

Exhibit 12.2

Virginia Electric and Power Company

Computation of Ratio of Earnings to Fixed Charges

(millions of dollars)

					Years Ended December 31,
	Three Months Ended March 31, 2015		Twelve Months Ended March 31, 2015		2014		2013		2012		2011		2010
Earnings, as defined:
Income from continuing operations before income tax expense	$	432	$	1,317	$	1,406	$	1,797	$	1,703	$	1,362	$	1,394
Fixed charges included in income		115		440		438		401		418		361		385
Total earnings, as defined	$	547	$	1,757	$	1,844	$	2,198	$	2,121	$	1,723	$	1,779
Fixed charges, as defined:
Interest charges	$	111	$	427	$	425	$	388	$	404	$	346	$	368
Rental interest factor		4		13		13		13		14		15		17
Total fixed charges, as defined	$	115	$	440	$	438	$	401	$	418	$	361	$	385
Ratio of Earnings to Fixed Charges		4.76		3.99		4.21		5.48		5.07		4.77		4.62

EX-12.3

Exhibit 12.3

Dominion Gas Holdings, LLC

Computation of Ratio of Earnings to Fixed Charges

(millions of dollars)

					Years Ended December 31,
	Three Months Ended March 31, 2015		Twelve Months Ended March 31, 2015		2014			2013			2012		2011		2010
Earnings, as defined:
Income from continuing operations before income tax expense	$	263	$	842	$	846		$	762		$	747	$	549	$	1,601
Distributed income from unconsolidated investees, less equity in earnings		2		3		(1	)		(2	)		2		2		(4	)
Fixed charges included in income		20		50		39			43			65		64		76
Total earnings, as defined	$	285	$	895	$	884		$	803		$	814	$	615	$	1,673
Fixed charges, as defined:
Interest charges	$	17	$	39	$	28		$	30		$	51	$	51	$	65
Rental interest factor		3		11		11			13			14		13		11
Total fixed charges, as defined	$	20	$	50	$	39		$	43		$	65	$	64	$	76
Ratio of Earnings to Fixed Charges		14.25		17.90		22.67			18.67			12.52		9.61		22.01

EX-31.A

Exhibit 31.a

I, Thomas F. Farrell II, certify that:

1. I have reviewed this report on Form 10-Q of Dominion Resources, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 5, 2015	/s/ Thomas F. Farrell II
	Thomas F. Farrell II President and Chief Executive Officer

EX-31.B

Exhibit 31.b

I, Mark F. McGettrick, certify that:

1. I have reviewed this report on Form 10-Q of Dominion Resources, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 5, 2015	/s/ Mark F. McGettrick
	Mark F. McGettrick Executive Vice President and Chief Financial Officer

EX-31.C

Exhibit 31.c

I, Thomas F. Farrell II, certify that:

1. I have reviewed this report on Form 10-Q of Virginia Electric and Power Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 5, 2015	/s/ Thomas F. Farrell II
	Thomas F. Farrell II Chief Executive Officer

EX-31.D

Exhibit 31.d

I, Mark F. McGettrick, certify that:

1. I have reviewed this report on Form 10-Q of Virginia Electric and Power Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 5, 2015	/s/ Mark F. McGettrick
	Mark F. McGettrick Executive Vice President and Chief Financial Officer

EX-31.E

Exhibit 31.e

I, Thomas F. Farrell II, certify that:

1. I have reviewed this report on Form 10-Q of Dominion Gas Holdings, LLC;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(c) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 5, 2015	/s/ Thomas F. Farrell II
	Thomas F. Farrell II Chief Executive Officer

EX-31.F

Exhibit 31.f

I, Mark F. McGettrick, certify that:

1. I have reviewed this report on Form 10-Q of Dominion Gas Holdings, LLC;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(c) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 5, 2015	/s/ Mark F. McGettrick
	Mark F. McGettrick Executive Vice President and Chief Financial Officer

EX-32.A

Exhibit 32.a

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of Dominion Resources, Inc. (the “Company”), certify that:

1. the Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 (the “Report”), of the Company to which this certification is an exhibit fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d)).

2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of March 31, 2015, and for the period then ended.

/s/ Thomas F. Farrell II

Thomas F. Farrell II

President and Chief Executive Officer

May 5, 2015

/s/ Mark F. McGettrick

Mark F. McGettrick

Executive Vice President and

Chief Financial Officer

May 5, 2015

EX-32.B

Exhibit 32.b

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of Virginia Electric and Power Company (the “Company”), certify that:

1. the Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 (the “Report”), of the Company to which this certification is an exhibit fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d)).

2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of March 31, 2015, and for the period then ended.

/s/ Thomas F. Farrell II

Thomas F. Farrell II

Chief Executive Officer

May 5, 2015

/s/ Mark F. McGettrick

Mark F. McGettrick

Executive Vice President and

Chief Financial Officer

May 5, 2015

EX-32.C

Exhibit 32.c

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of Dominion Gas Holdings, LLC (the “Company”), certify that:

1. the Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 (the “Report”), of the Company to which this certification is an exhibit fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d)).

2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of March 31, 2015, and for the period then ended.

/s/ Thomas F. Farrell II

Thomas F. Farrell II

Chief Executive Officer

May 5, 2015

/s/ Mark F. McGettrick

Mark F. McGettrick

Executive Vice President and

Chief Financial Officer

May 5, 2015

EX-99

Exhibit 99

DOMINION RESOURCES, INC.

CONDENSED CONSOLIDATED EARNINGS STATEMENT

(Unaudited)

	Twelve Months Ended March 31, 2015
(millions, except per share amounts)
Operating Revenue	$	12,215
Operating Expenses		9,259
Income from operations		2,956
Other income		269
Interest and related charges		1,179
Income before income tax expense including noncontrolling interests	$	2,046
Income tax expense		565
Net income including noncontrolling interests		1,481
Noncontrolling interests		13
Net income attributable to Dominion	$	1,468
Earnings Per Common Share – Basic
Income from continuing operations	$	2.53
Noncontrolling interests		(0.02	)
Net income attributable to Dominion	$	2.51
Earnings Per Common Share – Diluted
Income from continuing operations	$	2.52
Noncontrolling interests		(0.02	)
Net income attributable to Dominion	$	2.50

VIRGINIA ELECTRIC AND POWER COMPANY

CONDENSED CONSOLIDATED EARNINGS STATEMENT

(Unaudited)

	Twelve Months Ended March 31, 2015
(millions)
Operating Revenue	$	7,734
Operating Expenses		6,098
Income from operations		1,636
Other income		93
Interest and related charges		412
Income before income tax expense		1,317
Income tax expense		514
Net Income		803
Preferred dividends		7
Balance available for common stock	$	796

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Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2015

Virginia Electric and Power Company

Related Party Transaction [Line Items]

Transactions With Affiliates

Presented below are Virginia Power's significant transactions with DRS and other affiliates:

	Three Months Ended March 31,
	2015		2014
(millions)
Commodity purchases from affiliates	$	252	$	202
Services provided by affiliates(1)	110		108
Services provided to affiliates	5		5

(1) Includes capitalized expenditures.

Dominion Gas Holdings, LLC

Related Party Transaction [Line Items]

Schedule of Related Party Transactions

Dominion Gas transacts with affiliates for certain quantities of natural gas and other commodities at market prices in the ordinary course of business. Additionally, Dominion Gas provides transportation and storage services to affiliates. Dominion Gas also enters into certain other contracts with affiliates, which are presented separately from contracts involving commodities or services. As of March 31, 2015 and December 31, 2014, all of Dominion Gas' commodity derivatives were with affiliates. See Notes 7 and 9 for more information. See Note 10 for information regarding sales of assets to an affiliate.

Dominion Gas participates in certain Dominion benefit plans as described in Note 18.

DRS and other affiliates provide accounting, legal, finance and certain administrative and technical services to Dominion Gas. Dominion Gas provides certain services to related parties, including technical services. The costs of these services follow:

	Three Months Ended March 31,
	2015		2014
(millions)
Purchases of natural gas and transportation and storage services from affiliates	$	2	$	18
Sales of natural gas and transportation and storage services to affiliates	18		21
Services provided by related parties(1)	34		28
Services provided to related parties	20		13

(1) Includes capitalized expenditures.

The following table presents affiliated and related party activity reflected in Dominion Gas' Consolidated Balance Sheets:

	March 31, 2015		December 31, 2014
(millions)
Customer receivables from related parties(1)	$	11	$	22
Imbalances receivable from affiliates(2)	4		3
Affiliated notes receivable(3)	10		9

(1) Includes $5 million and $17 million due from Atlantic Coast Pipeline, a related party VIE, at March 31, 2015 and December 31, 2014, respectively.

(2) Amounts are presented in other current assets in Dominion Gas' Consolidated Balance Sheets.

(3) Amounts are presented in other deferred charges and other assets in Dominion Gas' Consolidated Balance Sheets.

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Fair Value Measurements (Financial Instruments' Carrying Amounts and Fair Values) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Junior subordinated notes	$ 1,373		$ 1,374	[1]
Valuation of certain fair value hedges	15		19
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Long-term Debt	19,718	[2],[3]	19,723	[2],[3]
Junior subordinated notes	1,373	[3]	1,374	[3]
Remarketable subordinated notes	2,084	[3]	2,083	[3]
Estimate of Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Long-term Debt	22,197	[2],[3],[4]	21,881	[2],[3],[4]
Junior subordinated notes	1,405	[3],[4]	1,396	[3],[4]
Remarketable subordinated notes	2,206	[3],[4]	2,362	[3],[4]
Virginia Electric and Power Company | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Long-term Debt	8,936	[3]	8,937	[3]
Virginia Electric and Power Company | Estimate of Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Long-term Debt	10,441	[3],[4]	10,293	[3],[4]
Dominion Gas Holdings, LLC | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Long-term Debt	2,594	[3]	2,594	[3]
Dominion Gas Holdings, LLC | Estimate of Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Long-term Debt	$ 2,720	[3],[4]	$ 2,672	[3],[4]

[1] Dominion’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

[2] At March 31, 2015 and December 31, 2014, includes the valuation of certain fair value hedges associated with fixed rate debt of approximately $15 million and $19 million, respectively.

[3] Carrying amount includes amounts which represent the unamortized discount and/or premium.

[4] Fair value is estimated using market prices, where available, and interest rates currently available for issuance of debt with similar terms and remaining maturities. All fair value measurements are classified as Level 2. The carrying amount of debt issues with short-term maturities and variable rates refinanced at current market rates is a reasonable estimate of their fair value.

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Accumulated Other Comprehensive Income (Schedule of Reclassifications out of AOCI by Component Net of Tax) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Operating Revenue	$ 3,409		$ 3,630
Purchased gas	250		540
Electric fuel and other energy-related purchases	953		1,334
Interest and related charges	223		237
Other income	60		40
Income from continuing operations including noncontrolling interests before income tax expense	839		571
Income tax expense	(299)		(186)
Dominion Gas Holdings, LLC
Accumulated Other Comprehensive Income (Loss) [Line Items]
Operating Revenue	531	[1]	569	[1]
Purchased gas	74	[1]	137	[1]
Interest and related charges	17		6
Other income	9		8
Income from continuing operations including noncontrolling interests before income tax expense	263		267
Income tax expense	(102)		(103)
Deferred gains and losses on derivatives-hedging activities | Amounts reclassified from AOCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income from continuing operations including noncontrolling interests before income tax expense	98		260
Income tax expense	(39)		(100)
Income from continuing operations including noncontrolling interests	59		160
Deferred gains and losses on derivatives-hedging activities | Amounts reclassified from AOCI | Dominion Gas Holdings, LLC
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income from continuing operations including noncontrolling interests before income tax expense			8
Income tax expense			(3)
Income from continuing operations including noncontrolling interests			5
Unrealized gains and losses on investment securities | Amounts reclassified from AOCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other income	(39)		(20)
Impairment	6		2
Income from continuing operations including noncontrolling interests before income tax expense	(33)		(18)
Income tax expense	12		7
Income from continuing operations including noncontrolling interests	(21)		(11)
Unrecognized pension and other postretirement benefit costs | Amounts reclassified from AOCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Prior service (credit) costs	(3)		(3)
Actuarial (gains) losses	25		17
Income from continuing operations including noncontrolling interests before income tax expense	22		14
Income tax expense	(9)		(6)
Income from continuing operations including noncontrolling interests	13		8
Unrecognized pension and other postretirement benefit costs | Amounts reclassified from AOCI | Dominion Gas Holdings, LLC
Accumulated Other Comprehensive Income (Loss) [Line Items]
Actuarial (gains) losses	2		2
Income from continuing operations including noncontrolling interests before income tax expense	2		2
Income tax expense	(1)		(1)
Income from continuing operations including noncontrolling interests	1		1
Commodity contracts | Deferred gains and losses on derivatives-hedging activities | Amounts reclassified from AOCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Operating Revenue	92		269
Purchased gas	5		1
Electric fuel and other energy-related purchases	(1)		(13)
Commodity contracts | Deferred gains and losses on derivatives-hedging activities | Amounts reclassified from AOCI | Dominion Gas Holdings, LLC
Accumulated Other Comprehensive Income (Loss) [Line Items]
Operating Revenue			6
Purchased gas			2
Interest rate contracts | Deferred gains and losses on derivatives-hedging activities | Amounts reclassified from AOCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest and related charges	$ 2		$ 3

[1] See Note 17 for amounts attributable to related parties.

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Variable Interest Entities (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015 MW generator	Mar. 31, 2014
Virginia Electric and Power Company
Variable Interest Entities [Line Items]
Long term capacity contract non utility generators (generators)	5
Aggregate generation capacity from long-term power and capacity contracts (MW)	870
Remaining purchase commitments	$ 585
Payment for electric capacity	53	56
Payment for electric energy	37	54
Shared services purchased	83	28
Virginia Electric and Power Company | Minimum
Variable Interest Entities [Line Items]
Contracts expiry date start range	2015
Virginia Electric and Power Company | Maximum
Variable Interest Entities [Line Items]
Contracts expiry date start range	2021
Dominion Gas Holdings, LLC
Variable Interest Entities [Line Items]
Shared services purchased	$ 83	$ 26

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Derivatives and Hedge Accounting Activities (Schedule of Offsetting Assets) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets	$ 667	$ 704
Total derivatives, not subject to a master netting or similar arrangement	12	15
Derivative Asset	679	719
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Financial Instruments	389	348
Cash Collateral Received	0	34
Net Amounts	278	322
Interest rate | Over-the-counter
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets	18	24
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Financial Instruments	18	16
Cash Collateral Received	0	0
Net Amounts	0	8
Commodity | Over-the-counter
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets	323	382
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Financial Instruments	45	34
Cash Collateral Received	0	34
Net Amounts	278	314
Commodity | Exchange
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets	326	298
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Financial Instruments	326	298
Cash Collateral Received	0	0
Net Amounts	0	0
Virginia Electric and Power Company
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets	82	106
Total derivatives, not subject to a master netting or similar arrangement	24	7
Derivative Asset	106	113
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Financial Instruments	4	4
Cash Collateral Received	0	0
Net Amounts	78	102
Virginia Electric and Power Company | Commodity | Over-the-counter
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets	82	106
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Financial Instruments	4	4
Cash Collateral Received	0	0
Net Amounts	78	102
Dominion Gas Holdings, LLC
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets	3	2
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Financial Instruments	3	0
Cash Collateral Received	0	0
Net Amounts	0	2
Dominion Gas Holdings, LLC | Commodity | Over-the-counter
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets	3	2
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Financial Instruments	3	0
Cash Collateral Received	0	0
Net Amounts	$ 0	$ 2

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Employee Benefit Plans (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015		Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Contributions to defined benefit pension plans and OPEB plans	$ 0
Expected contribution to voluntary employees' beneficiary association	12,000,000
Dominion Gas Holdings, LLC
Defined Benefit Plan Disclosure [Line Items]
Contributions to defined benefit pension plans and OPEB plans	0
Expected contribution to voluntary employees' beneficiary association	12,000,000
Amounts due from Dominion	4,000,000	[1]	3,000,000	[1]
Pension Benefits | Dominion Gas Holdings, LLC | Dominion | Noncurrent Pension and Other Postretirement Benefit Assets
Defined Benefit Plan Disclosure [Line Items]
Amounts due from Dominion	623,000,000		614,000,000
Other Postretirement Benefits | Dominion Gas Holdings, LLC | Dominion | Other Deferred Credits and Other Liabilities
Defined Benefit Plan Disclosure [Line Items]
Amounts due to Dominion	$ 6,000,000		$ 7,000,000

[1] Amounts are presented in other current assets in Dominion Gas' Consolidated Balance Sheets.

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Earnings Per Share (Calculation of Our Basic and Diluted EPS) (Details) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Earnings Per Share [Abstract]
Net income attributable to Dominion	$ 536		$ 379
Average shares of common stock outstanding - Basic (shares)	587,900,000		581,600,000
Net effect of potentially dilutive securities (shares)	2,000,000	[1]	1,300,000	[1]
Average shares of common stock outstanding - Diluted (shares)	589,900,000		582,900,000
Earnings Per Common Share – Basic and Diluted	$ 0.91		$ 0.65
Potentially dilutive securities excluded from the calculation of diluted EPS			0

[1] Dilutive securities consist primarily of the 2013 Equity Units for 2015 and contingently convertible senior notes and the 2013 Equity Units for 2014. See Note 14 in this report and Note 17 to the Consolidated Financial Statements in the Companies' Annual Report on Form 10-K for the year ended December 31, 2014 for more information.

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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Fair Value, Option, Quantitative Disclosures

The following table presents Dominion's quantitative information about Level 3 fair value measurements at March 31, 2015. The range and weighted average are presented in dollars for market price inputs and percentages for credit spreads and price volatility.

	Fair Value (millions)		Valuation Techniques	Unobservable Input		Range	Weighted Average(1)
Assets:
Physical and Financial Forwards and Futures:
Natural Gas(2)	$	85	Discounted Cash Flow	Market Price (per Dth)	(3)	(2) - 6	(1	)
				Credit spread	(4)	1% - 5%	2	%
FTRs	4		Discounted Cash Flow	Market Price (per MWh)	(3)	(5) - 7	1
Physical and Financial Options:
Natural Gas	5		Option Model	Market Price (per Dth)	(3)	2 - 4	3
				Price Volatility	(5)	21% - 76%	32	%
Total assets	$	94
Liabilities:
Physical and Financial Forwards and Futures:
Natural Gas(2)	$	12	Discounted Cash Flow	Market Price (per Dth)	(3)	(2) - 4	2
FTRs	4		Discounted Cash Flow	Market Price (per MWh)	(3)	(2) - 5	1
Physical and Financial Options:
Natural Gas	2		Option Model	Market Price (per Dth)	(3)	2 - 4	3
				Price Volatility	(5)	21% - 76%	32	%
Total liabilities	$	18

(1) Averages weighted by volume.

(2) Includes basis.

(3) Represents market prices beyond defined terms for Levels 1 and 2.

(4) Represents credit spreads unrepresented in published markets.

(5) Represents volatilities unrepresented in published markets.

Significant unobservable inputs

Sensitivity of the fair value measurements to changes in the significant unobservable inputs is as follows:

Significant Unobservable Inputs	Position	Change to Input	Impact on Fair Value Measurement
Market Price	Buy	Increase (decrease)	Gain (loss)
Market Price	Sell	Increase (decrease)	Loss (gain)
Price Volatility	Buy	Increase (decrease)	Gain (loss)
Price Volatility	Sell	Increase (decrease)	Loss (gain)
Credit spread	Asset	Increase (decrease)	Loss (gain)

Fair Value, by Balance Sheet Grouping

The following table presents Dominion’s assets and liabilities that are measured at fair value on a recurring basis for each hierarchy level, including both current and noncurrent portions:

	Level 1		Level 2		Level 3		Total
(millions)
At March 31, 2015
Assets:
Derivatives:
Commodity	$	3	$	564	$	94	$	661
Interest rate	—		18		—		18
Investments(1):
Equity securities:
U.S.:
Large cap	2,647		—		—		2,647
Other	7		—		—		7
Non-U.S.:
Large cap	12		—		—		12
Fixed income:
Corporate debt instruments	—		462		—		462
U.S. Treasury securities and agency debentures	407		187		—		594
State and municipal	—		423		—		423
Other	—		130		—		130
Cash equivalents and other	1		4		—		5
Total assets	$	3,077	$	1,788	$	94	$	4,959
Liabilities:
Derivatives:
Commodity	$	3	$	437	$	18	$	458
Interest rate	—		307		—		307
Total liabilities	$	3	$	744	$	18	$	765
At December 31, 2014
Assets:
Derivatives:
Commodity	$	3	$	567	$	125	$	695
Interest rate	—		24		—		24
Investments(1):
Equity securities:
U.S.:
Large cap	2,669		—		—		2,669
Other	6		—		—		6
Non-U.S.:
Large cap	12		—		—		12
Fixed income:
Corporate debt instruments	—		441		—		441
U.S. Treasury securities and agency debentures	419		190		—		609
State and municipal	—		395		—		395
Other	—		74		—		74

Cash equivalents and other	3		10		—		13
Total assets	$	3,112	$	1,701	$	125	$	4,938
Liabilities:
Derivatives:
Commodity	$	3	$	571	$	18	$	592
Interest rate	—		202		—		202
Total liabilities	$	3	$	773	$	18	$	794

(1) Includes investments held in the nuclear decommissioning and rabbi trusts.

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents the net change in Dominion's assets and liabilities measured at fair value on a recurring basis and included in the Level 3 fair value category:

	Three Months Ended March 31,
	2015			2014
(millions)
Beginning balance	$	107		$	(16	)
Total realized and unrealized gains (losses):
Included in earnings	15			110
Included in other comprehensive income (loss)	(11		)	4
Included in regulatory assets/liabilities	(24		)	17
Settlements	(14		)	(108		)
Transfers out of Level 3(1)	3			1
Ending balance	$	76		$	8
The amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets/liabilities still held at the reporting date	$	—		$	1

(1) In March 2015, Dominion changed the classification of NGL derivatives from Level 3 to Level 2 due to an increase in liquidity in financial forward markets. At March 31, 2015, $9 million of the transfers out of Level 3 relate to NGLs.

Fair Value, Unobservable Inputs, Gain (Loss) Included In Earnings

The following table presents Dominion's classification of gains and losses included in earnings in the Level 3 fair value category:

	Operating revenue			Electric fuel and other energy-related purchases		Total
(millions)
Three Months Ended March 31, 2015
Total gains (losses) included in earnings	$	2		$	13	$	15
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets/liabilities still held at the reporting date	—			—		—
Three Months Ended March 31, 2014
Total gains (losses) included in earnings	$	(10	)	$	120	$	110
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets/liabilities still held at the reporting date	1			—		1

Cost and Fair Value of Financial Instruments Disclosure

For the Companies' financial instruments that are not recorded at fair value, the carrying amounts and estimated fair values are as follows:

	March 31, 2015				December 31, 2014
	Carrying Amount		Estimated Fair Value(1)		Carrying Amount		Estimated Fair Value(1)
(millions)
Dominion
Long-term debt, including securities due within one year(2)(3)	$	19,718	$	22,197	$	19,723	$	21,881
Junior subordinated notes(3)	1,373		1,405		1,374		1,396
Remarketable subordinated notes(3)	2,084		2,206		2,083		2,362
Virginia Power
Long-term debt, including securities due within one year(3)	$	8,936	$	10,441	$	8,937	$	10,293
Dominion Gas
Long-term debt(3)	$	2,594	$	2,720	$	2,594	$	2,672

(1) Fair value is estimated using market prices, where available, and interest rates currently available for issuance of debt with similar terms and remaining maturities. All fair value measurements are classified as Level 2. The carrying amount of debt issues with short-term maturities and variable rates refinanced at current market rates is a reasonable estimate of their fair value.

(2) At March 31, 2015 and December 31, 2014, includes the valuation of certain fair value hedges associated with fixed rate debt of approximately $15 million and $19 million, respectively.

(3) Carrying amount includes amounts which represent the unamortized discount and/or premium.

Virginia Electric and Power Company

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Fair Value, Option, Quantitative Disclosures

The following table presents Virginia Power's quantitative information about Level 3 fair value measurements at March 31, 2015. The range and weighted average are presented in dollars for market price inputs and percentages for credit spreads.

	Fair Value (millions)		Valuation Techniques	Unobservable Input		Range	Weighted Average(1)
Assets:
Physical and Financial Forwards and Futures:
FTRs	$	4	Discounted Cash Flow	Market Price (per MWh)	(3)	(5) - 7	1
Natural Gas(2)	78		Discounted Cash Flow	Market Price (per Dth)	(3)	(2) - 3	(1	)
				Credit spread	(4)	1% - 5%	2	%
Total assets	$	82
Liabilities:
Physical and Financial Forwards and Futures:
FTRs	$	4	Discounted Cash Flow	Market Price (per MWh)	(3)	(2) - 5	1
Total liabilities	$	4

(1) Averages weighted by volume.

(2) Includes basis.

(3) Represents market prices beyond defined terms for Levels 1 and 2.

(4) Represents credit spreads unrepresented in published markets.

Significant unobservable inputs

Sensitivity of the fair value measurements to changes in the significant unobservable inputs is as follows:

Significant Unobservable Inputs	Position	Change to Input	Impact on Fair Value Measurement
Market Price	Buy	Increase (decrease)	Gain (loss)
Market Price	Sell	Increase (decrease)	Loss (gain)
Credit spread	Asset	Increase (decrease)	Loss (gain)

Fair Value, by Balance Sheet Grouping

The following table presents Virginia Power’s assets and liabilities that are measured at fair value on a recurring basis for each hierarchy level, including both current and noncurrent portions:

	Level 1		Level 2		Level 3		Total
(millions)
At March 31, 2015
Assets:
Derivatives:
Commodity	$	—	$	24	$	82	$	106
Investments(1):
Equity securities:
U.S. large cap	1,166		—		—		1,166
Fixed income:
Corporate debt instruments	—		258		—		258
U.S. Treasury securities and agency debentures	129		63		—		192
State and municipal	—		224		—		224
Other	—		31		—		31
Total assets	$	1,295	$	600	$	82	$	1,977
Liabilities:
Derivatives:
Commodity	$	—	$	7	$	4	$	11
Interest rate	—		128		—		128
Total liabilities	$	—	$	135	$	4	$	139
At December 31, 2014
Assets:
Derivatives:
Commodity	$	—	$	7	$	106	$	113
Investments(1):
Equity securities:
U.S. large cap	1,157		—		—		1,157
Fixed income:
Corporate debt instruments	—		250		—		250
U.S. Treasury securities and agency debentures	137		61		—		198
State and municipal	—		211		—		211
Other	—		23		—		23
Total assets	$	1,294	$	552	$	106	$	1,952
Liabilities:
Derivatives:
Commodity	$	—	$	11	$	4	$	15
Interest rate	—		72		—		72
Total liabilities	$	—	$	83	$	4	$	87

(1) Includes investments held in the nuclear decommissioning and rabbi trusts.

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents the net change in Virginia Power’s assets and liabilities measured at fair value on a recurring basis and included in the Level 3 fair value category:

	Three Months Ended March 31,
	2015			2014
(millions)
Beginning balance	$	102		$	(7	)
Total realized and unrealized gains (losses):
Included in earnings	14			120
Included in regulatory assets/liabilities	(24		)	17
Settlements	(14		)	(120		)
Ending balance	$	78		$	10

Dominion Gas Holdings, LLC

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Fair Value, by Balance Sheet Grouping

The following table presents Dominion Gas' assets and liabilities for derivatives that are measured at fair value on a recurring basis for each hierarchy level, including both current and noncurrent portions:

	Level 1		Level 2		Level 3		Total
(millions)
At March 31, 2015
Assets:
Commodity	$	—	$	3	$	—	$	3
Total Assets	$	—	$	3	$	—	$	3
Liabilities:
Commodity	$	—	$	3	$	—	$	3
Interest rate	—		13		—		13
Total liabilities	$	—	$	16	$	—	$	16
At December 31, 2014
Assets:
Commodity	$	—	$	—	$	2	$	2
Total Assets	$	—	$	—	$	2	$	2
Liabilities:
Interest rate	$	—	$	9	$	—	$	9
Total liabilities	$	—	$	9	$	—	$	9

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents the net change in Dominion Gas' assets and liabilities for derivatives measured at fair value on a recurring basis and included in the Level 3 fair value category:

	Three Months Ended March 31,
	2015			2014
(millions)
Beginning balance	$	2		$	(6	)
Total realized and unrealized gains (losses):
Included in earnings	1			(5		)
Included in other comprehensive income (loss)	(11		)	4
Settlements	(1		)	5
Transfers out of Level 3(1)	9			—
Ending balance	$	—		$	(2	)

(1) In March 2015, Dominion changed the classification of NGL derivatives from Level 3 to Level 2 due to an increase in liquidity in financial forward markets. At March 31, 2015, $9 million of the transfers out of Level 3 relate to NGLs.

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Operating Segments (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
After tax net expense	$ 2,407,000,000	$ 2,862,000,000
Corporate and Other
Segment Reporting Information [Line Items]
After tax net expenses	48,000,000	228,000,000
All segments
Segment Reporting Information [Line Items]
After tax net expenses	45,000,000	217,000,000
Dominion Generation
Segment Reporting Information [Line Items]
Net gain on investments	27,000,000
Net gain on investments, after tax	17,000,000
Loss related to restructuring of producer services		47,000,000
Restructuring after tax		33,000,000
Net loss		147,000,000
After tax net loss		90,000,000
Net gain (loss) on sale		100,000,000
Net gain (loss) on sale, after tax		57,000,000
Write off of goodwill		31,000,000
Dominion Generation | PJM
Segment Reporting Information [Line Items]
Billing adjustment	17,000,000
Billing adjustment, net of tax	10,000,000
Dominion Generation | Virginia Regulation | Deferred Fuel Costs
Segment Reporting Information [Line Items]
Write off of deferred fuel balances	85,000,000
Write off of deferred fuel balances, net of tax	52,000,000
Dominion Energy | Virginia legislation
Segment Reporting Information [Line Items]
Charge associated with North Anna and offshore wind legislation		319,000,000
Charges associated with North Anna and offshore wind facilities, net of tax		193,000,000
Virginia Electric and Power Company
Segment Reporting Information [Line Items]
After tax net expense	1,612,000,000	1,370,000,000
Virginia Electric and Power Company | Corporate and Other
Segment Reporting Information [Line Items]
After tax net expense	61,000,000
Virginia Electric and Power Company | Dominion Generation | PJM
Segment Reporting Information [Line Items]
Billing adjustment	15,000,000
Billing adjustment, net of tax	9,000,000
Virginia Electric and Power Company | Dominion Generation | Virginia Regulation | Deferred Fuel Costs
Segment Reporting Information [Line Items]
Write off of deferred fuel balances	85,000,000
Write off of deferred fuel balances, net of tax	52,000,000
Dominion Gas Holdings, LLC
Segment Reporting Information [Line Items]
After tax net expense	260,000,000	304,000,000
Dominion Gas Holdings, LLC | Corporate and Other
Segment Reporting Information [Line Items]
After tax net expenses	$ 0	$ 0

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Commitments and Contingencies (Narrative) (Details) (USD $)	1 Months Ended				3 Months Ended		12 Months Ended	1 Months Ended		56 Months Ended	1 Months Ended
	Jun. 30, 2014 Unit	Jul. 31, 2013 Unit	Sep. 30, 2011 Party	Jul. 31, 2011	Mar. 31, 2015 Site	Mar. 31, 2014	Dec. 31, 2014 Facility	Mar. 31, 2012 refueling_outage	Dec. 31, 2014	Mar. 31, 2015	Oct. 31, 2014 Facility
Investments in and Advances to Affiliates [Line Items]
Extension period for MATS compliance	1 year
Number of coal fired generating units	2	3
Requested compliance extension under EPA Administrative Order	1 year
Amount company has spent for emission standards compliance					$ 1,014,000,000	$ 1,120,000,000
Number of parties issued UAO			22
Daily civil penalties for non compliance					37,500
Number of former manufactured gas plant sites					17					17
Number of facilities with CCR							8
Maximum period for consideration of CO2 emissions from biomass projects				3 years
Purchased surety bonds					134,000,000					134,000,000
Authorized issuance of standby letters of credit					48,000,000					48,000,000
Third Party and Equity Method Investee
Investments in and Advances to Affiliates [Line Items]
Amount of civil penalty					74,000,000					74,000,000
NRC Safety Enhancements
Investments in and Advances to Affiliates [Line Items]
Number of refueling outages								2
Implementation period								4 years
Possum Point Power Station | Other Operations and Maintenance Expense
Investments in and Advances to Affiliates [Line Items]
Charge as a result of settlement offer									121,000,000
Virginia Electric and Power Company
Investments in and Advances to Affiliates [Line Items]
Amount company has spent for emission standards compliance					583,000,000	691,000,000
Number of former manufactured gas plant sites					3					3
Purchased surety bonds					65,000,000					65,000,000
Dominion Gas Holdings, LLC
Investments in and Advances to Affiliates [Line Items]
Amount company has spent for emission standards compliance					128,000,000	107,000,000
Number of former manufactured gas plant sites					12					12
Purchased surety bonds					30,000,000					30,000,000
CAA
Investments in and Advances to Affiliates [Line Items]
Number of states under EPA replacement rule				28
Emissions of fossil fuel fired electric generating units (MW)				25
Number of groups of affected states				2
Amount company has spent for emission standards compliance										2,000,000
CWA
Investments in and Advances to Affiliates [Line Items]
Number of facilities that may be subject to final regulations											14
CWA | Virginia Electric and Power Company
Investments in and Advances to Affiliates [Line Items]
Number of facilities that may be subject to final regulations											11
Remediation program
Investments in and Advances to Affiliates [Line Items]
Preliminary costs for options under evaluation for site, minimum					1,000,000					1,000,000
Preliminary costs for options under evaluation for site, maximum					22,000,000					22,000,000
Breach of Contract Lawsuit | Pending Litigation
Investments in and Advances to Affiliates [Line Items]
Accrued liability for legal matter					$ 6,000,000					$ 6,000,000

XML

Derivatives and Hedge Accounting Activities (Volume of Derivative Activity) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015
Current Derivative Contract
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate	$ 2,550
Current Derivative Contract | Natural Gas | Fixed Price
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	55,000,000,000	[1]
Current Derivative Contract | Natural Gas | Basis
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	224,000,000,000
Current Derivative Contract | Electricity | Fixed Price
Derivative Instruments, Gain (Loss) [Line Items]
Volume of electricity (MWh)	13,610,507
Current Derivative Contract | Electricity | Financial Transmission Rights
Derivative Instruments, Gain (Loss) [Line Items]
Volume of electricity (MWh)	14,994,541
Current Derivative Contract | Capacity
Derivative Instruments, Gain (Loss) [Line Items]
Capacity (MW)	15,250
Current Derivative Contract | Liquids
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	77,280,000	[2]
Noncurrent Derivative Contract
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate	4,000
Noncurrent Derivative Contract | Natural Gas | Fixed Price
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	10,000,000,000	[1]
Noncurrent Derivative Contract | Natural Gas | Basis
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	558,000,000,000
Noncurrent Derivative Contract | Electricity | Fixed Price
Derivative Instruments, Gain (Loss) [Line Items]
Volume of electricity (MWh)	7,505,325
Noncurrent Derivative Contract | Electricity | Financial Transmission Rights
Derivative Instruments, Gain (Loss) [Line Items]
Volume of electricity (MWh)	0
Noncurrent Derivative Contract | Capacity
Derivative Instruments, Gain (Loss) [Line Items]
Capacity (MW)	3,050
Noncurrent Derivative Contract | Liquids
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	2,016,000	[2]
Virginia Electric and Power Company | Current Derivative Contract
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate	1,000
Virginia Electric and Power Company | Current Derivative Contract | Natural Gas | Fixed Price
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	12,000,000,000	[1]
Virginia Electric and Power Company | Current Derivative Contract | Natural Gas | Basis
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	84,000,000,000
Virginia Electric and Power Company | Current Derivative Contract | Electricity | Financial Transmission Rights
Derivative Instruments, Gain (Loss) [Line Items]
Volume of electricity (MWh)	13,486,569
Virginia Electric and Power Company | Current Derivative Contract | Capacity
Derivative Instruments, Gain (Loss) [Line Items]
Capacity (MW)	15,250
Virginia Electric and Power Company | Noncurrent Derivative Contract
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate	750
Virginia Electric and Power Company | Noncurrent Derivative Contract | Natural Gas | Fixed Price
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	0	[1]
Virginia Electric and Power Company | Noncurrent Derivative Contract | Natural Gas | Basis
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	493,000,000,000
Virginia Electric and Power Company | Noncurrent Derivative Contract | Electricity | Financial Transmission Rights
Derivative Instruments, Gain (Loss) [Line Items]
Volume of electricity (MWh)	0
Virginia Electric and Power Company | Noncurrent Derivative Contract | Capacity
Derivative Instruments, Gain (Loss) [Line Items]
Capacity (MW)	3,050
Dominion Gas Holdings, LLC | Current Derivative Contract
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate	0
Dominion Gas Holdings, LLC | Current Derivative Contract | Natural Gas | Fixed Price
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	7,000,000,000
Dominion Gas Holdings, LLC | Current Derivative Contract | Natural Gas | Basis
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	8,000,000,000
Dominion Gas Holdings, LLC | Current Derivative Contract | Liquids
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	72,912,000
Dominion Gas Holdings, LLC | Noncurrent Derivative Contract
Derivative Instruments, Gain (Loss) [Line Items]
Interest rate	$ 250
Dominion Gas Holdings, LLC | Noncurrent Derivative Contract | Natural Gas | Fixed Price
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	0
Dominion Gas Holdings, LLC | Noncurrent Derivative Contract | Natural Gas | Basis
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	0
Dominion Gas Holdings, LLC | Noncurrent Derivative Contract | Liquids
Derivative Instruments, Gain (Loss) [Line Items]
Volume of natural gas (cf)/ liquids (gallons)	0

[1] Includes options.

[2] Includes NGLs and oil.

XML

Related Party Transactions (Details) (USD $)	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014		Dec. 31, 2014
Related Party Transaction [Line Items]
Derivative Asset	$ 679,000,000				$ 719,000,000
Derivative Liabilities	765,000,000				794,000,000
Virginia Electric and Power Company
Related Party Transaction [Line Items]
Derivative Asset	106,000,000				113,000,000
Derivative Liabilities	139,000,000				87,000,000
Commodity purchases from affiliates	252,000,000		202,000,000
Services provided to affiliates	110,000,000	[1]	108,000,000	[1]
Sales of natural gas and transportation and storage services to affiliates	5,000,000		5,000,000
Outstanding borrowings, net of repayments, under money pool for non-regulated subsidiaries	0				0
Dominion Gas Holdings, LLC
Related Party Transaction [Line Items]
Amounts due from Dominion	4,000,000	[2]			3,000,000	[2]
Commodity purchases from affiliates	2,000,000		18,000,000
Services provided to affiliates	20,000,000		13,000,000
Sales of natural gas and transportation and storage services to affiliates	18,000,000		21,000,000
Customer receivables from related parties	11,000,000	[3]			22,000,000	[3]
Affiliated notes receivable	10,000,000	[4]			9,000,000	[4]
Dominion Gas Holdings, LLC | Revolving Credit Facility | IRCA
Related Party Transaction [Line Items]
Borrowings under IRCA	39,000,000				384,000,000
Dominion Gas Holdings, LLC | Variable Interest Entity, Primary Beneficiary
Related Party Transaction [Line Items]
Customer receivables from related parties	5,000,000				17,000,000
Dominion Gas Holdings, LLC | Services provided by affiliates
Related Party Transaction [Line Items]
Commodity purchases from affiliates	34,000,000	[1]	28,000,000	[1]
Affiliated Entity | Virginia Electric and Power Company | Commodity Derivative Contracts with Affiliates
Related Party Transaction [Line Items]
Derivative Asset	24,000,000
Derivative Liabilities					7,000,000
Principal Owner | Virginia Electric and Power Company
Related Party Transaction [Line Items]
Short term demand note	10,000,000				427,000,000
Other deferred credits and other liabilities
Related Party Transaction [Line Items]
Amounts due to Dominion	243,000,000				219,000,000
Other deferred charges and other assets
Related Party Transaction [Line Items]
Amounts due from Dominion	$ 46,000,000

[1] Includes capitalized expenditures.

[2] Amounts are presented in other current assets in Dominion Gas' Consolidated Balance Sheets.

[3] Includes $5 million and $17 million due from Atlantic Coast Pipeline, a related party VIE, at March 31, 2015 and December 31, 2014, respectively.

[4] Amounts are presented in other deferred charges and other assets in Dominion Gas' Consolidated Balance Sheets.

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Employee Benefit Plans (Net Periodic Benefit Cost) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 32	$ 29
Interest cost	72	72
Expected return on plan assets	(133)	(125)
Amortization of prior service cost (credit)	0	1
Amortization of net actuarial loss	40	28
Net periodic benefit cost (credit)	11	5
Pension Benefits | Dominion Gas Holdings, LLC
Defined Benefit Plan Disclosure [Line Items]
Service cost	3	3
Interest cost	7	7
Expected return on plan assets	(31)	(29)
Amortization of net actuarial loss	5	5
Net periodic benefit cost (credit)	(16)	(14)
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	10	8
Interest cost	17	17
Expected return on plan assets	(29)	(28)
Amortization of prior service cost (credit)	(7)	(7)
Amortization of net actuarial loss	1	0
Net periodic benefit cost (credit)	(8)	(10)
Other Postretirement Benefits | Dominion Gas Holdings, LLC
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	1
Interest cost	3	3
Expected return on plan assets	(6)	(5)
Amortization of net actuarial loss	1	0
Net periodic benefit cost (credit)	$ 0	$ (1)

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Significant Financing Transactions - (Commercial Paper, Bank Loans and Letters of Credit Outstanding) (Details) (USD $)	Mar. 31, 2015		Jul. 31, 2014		Jul. 01, 2014		Dec. 31, 2014
Line of Credit Facility [Line Items]
Facility Limit	$ 4,500,000,000
Outstanding Commercial Paper	3,200,000,000
Outstanding Letters of Credit	48,000,000
Facility Capacity Available	1,252,000,000
Virginia Electric and Power Company
Line of Credit Facility [Line Items]
Facility Limit	1,750,000,000
Outstanding Commercial Paper	1,588,000,000
Outstanding Letters of Credit	0
Facility Capacity Available	162,000,000
Dominion Gas Holdings, LLC
Line of Credit Facility [Line Items]
Facility Limit	500,000,000
Outstanding Commercial Paper	280,000,000
Outstanding Letters of Credit	0
Facility Capacity Available	220,000,000
Credit Facility 4 Billion
Line of Credit Facility [Line Items]
Facility Limit	4,000,000,000	[1]
Outstanding Commercial Paper	3,112,000,000	[1]
Outstanding Letters of Credit	0	[1]
Facility Capacity Available	888,000,000	[1]
Credit Facility, to support letters of credit	1,500,000,000.0
Credit Facility 4 Billion | Virginia Electric and Power Company
Line of Credit Facility [Line Items]
Facility Limit	1,500,000,000	[2]	1,500,000,000.0	[1]	1,250,000,000.00	[1]
Outstanding Commercial Paper	1,500,000,000	[2]
Outstanding Letters of Credit	0	[2]
Facility Capacity Available	0	[2]
Credit Facility, to support letters of credit	1,500,000,000.0
Credit Facility 4 Billion | Dominion Gas Holdings, LLC
Line of Credit Facility [Line Items]
Facility Limit	500,000,000	[3]					1,000,000,000	[1]
Outstanding Commercial Paper	280,000,000	[3]
Outstanding Letters of Credit	0	[3]
Facility Capacity Available	220,000,000	[3]
Credit Facility, to support letters of credit	1,500,000,000.0
Credit Facility 500 Million
Line of Credit Facility [Line Items]
Facility Limit	500,000,000	[4]
Outstanding Commercial Paper	88,000,000	[4]
Outstanding Letters of Credit	48,000,000	[4]
Facility Capacity Available	364,000,000	[4]
Credit Facility 500 Million | Virginia Electric and Power Company
Line of Credit Facility [Line Items]
Facility Limit	250,000,000	[5]
Outstanding Commercial Paper	88,000,000	[5]
Outstanding Letters of Credit	0	[5]
Facility Capacity Available	162,000,000	[5]
Credit Facility 500 Million | Dominion Gas Holdings, LLC
Line of Credit Facility [Line Items]
Facility Limit	0	[6]
Outstanding Commercial Paper	0	[6]
Outstanding Letters of Credit	0	[6]
Facility Capacity Available	$ 0	[6]

[1] This credit facility has a maturity date of April 2019, and can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $1.5 billion of letters of credit.

[2] This credit facility has a maturity date of April 2019, and can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $1.5 billion (or the sub-limit, whichever is less) of letters of credit. Virginia Power's current sub-limit under this credit facility can be increased or decreased multiple times per year. In January 2015, Virginia Power increased its sub-limit from $1.25 billion to $1.50 billion.

[3] This credit facility has a maturity date of April 2019, and can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $1.5 billion (or the sub-limit, whichever is less) of letters of credit. Dominion Gas' current sub-limit under this credit facility can be increased or decreased multiple times per year, up to a maximum of $1.0 billion.

[4] This credit facility has a maturity date of April 2019, and can be used to support bank borrowings, commercial paper and letter of credit issuances.

[5] This credit facility has a maturity date of April 2019, and can be used to support bank borrowings, commercial paper and letter of credit issuances. Virginia Power's current sub-limit under this credit facility can be increased or decreased multiple times per year.

[6] This credit facility has a maturity date of April 2019, and can be used to support bank borrowings, commercial paper and letter of credit issuances. Dominion Gas' current sub-limit under this credit facility can be increased or decreased multiple times per year.

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Related Party Transactions

3 Months Ended

Mar. 31, 2015

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

Virginia Power and Dominion Gas engage in related party transactions primarily with other Dominion subsidiaries (affiliates). Virginia Power's and Dominion Gas' receivable and payable balances with affiliates are settled based on contractual terms or on a monthly basis, depending on the nature of the underlying transactions. Virginia Power and Dominion Gas are included in Dominion's consolidated federal income tax return. A discussion of significant related party transactions follows.

Virginia Power

Transactions with Affiliates

Virginia Power transacts with affiliates for certain quantities of natural gas and other commodities in the ordinary course of business. Virginia Power also enters into certain commodity derivative contracts with affiliates. Virginia Power uses these contracts, which are principally comprised of commodity swaps, to manage commodity price risks associated with purchases of natural gas. As of March 31, 2015, Virginia Power's derivative assets and liabilities with affiliates were $24 million and $7 million, respectively. As of December 31, 2014, Virginia Power's derivative assets and liabilities with affiliates were not material. See Notes 7 and 9 for more information.

Virginia Power participates in certain Dominion benefit plans described in Note 18. In Virginia Power's Consolidated Balance Sheets at March 31, 2015 and December 31, 2014, amounts due to Dominion associated with these benefit plans included in other deferred credits and other liabilities were $243 million and $219 million, respectively, and amounts due from Dominion at March 31, 2015 included in other deferred charges and other assets were $46 million.

DRS and other affiliates provide accounting, legal, finance and certain administrative and technical services to Virginia Power. In addition, Virginia Power provides certain services to affiliates, including charges for facilities and equipment usage.

Presented below are Virginia Power's significant transactions with DRS and other affiliates:

	Three Months Ended March 31,
	2015		2014
(millions)
Commodity purchases from affiliates	$	252	$	202
Services provided by affiliates(1)	110		108
Services provided to affiliates	5		5

(1) Includes capitalized expenditures.

Virginia Power has borrowed funds from Dominion under short-term borrowing arrangements. There were $10 million and $427 million in short-term demand note borrowings from Dominion as of March 31, 2015 and December 31, 2014, respectively. Virginia Power had no outstanding borrowings, net of repayments under the Dominion money pool for its nonregulated subsidiaries as of March 31, 2015 and December 31, 2014. Interest charges related to Virginia Power's borrowings from Dominion were immaterial for the three months ended March 31, 2015 and 2014.

There were no issuances of Virginia Power's common stock to Dominion for the three months ended March 31, 2015 and 2014.

Dominion Gas

Transactions with Related Parties

Dominion Gas transacts with affiliates for certain quantities of natural gas and other commodities at market prices in the ordinary course of business. Additionally, Dominion Gas provides transportation and storage services to affiliates. Dominion Gas also enters into certain other contracts with affiliates, which are presented separately from contracts involving commodities or services. As of March 31, 2015 and December 31, 2014, all of Dominion Gas' commodity derivatives were with affiliates. See Notes 7 and 9 for more information. See Note 10 for information regarding sales of assets to an affiliate.

Dominion Gas participates in certain Dominion benefit plans as described in Note 18.

DRS and other affiliates provide accounting, legal, finance and certain administrative and technical services to Dominion Gas. Dominion Gas provides certain services to related parties, including technical services. The costs of these services follow:

	Three Months Ended March 31,
	2015		2014
(millions)
Purchases of natural gas and transportation and storage services from affiliates	$	2	$	18
Sales of natural gas and transportation and storage services to affiliates	18		21
Services provided by related parties(1)	34		28
Services provided to related parties	20		13

(1) Includes capitalized expenditures.

The following table presents affiliated and related party activity reflected in Dominion Gas' Consolidated Balance Sheets:

	March 31, 2015		December 31, 2014
(millions)
Customer receivables from related parties(1)	$	11	$	22
Imbalances receivable from affiliates(2)	4		3
Affiliated notes receivable(3)	10		9

(1) Includes $5 million and $17 million due from Atlantic Coast Pipeline, a related party VIE, at March 31, 2015 and December 31, 2014, respectively.

(2) Amounts are presented in other current assets in Dominion Gas' Consolidated Balance Sheets.

(3) Amounts are presented in other deferred charges and other assets in Dominion Gas' Consolidated Balance Sheets.

Dominion Gas' borrowings under the IRCA with Dominion totaled $39 million as of March 31, 2015 and $384 million as of December 31, 2014. Interest charges related to Dominion Gas' total borrowings from Dominion were immaterial for the three months ended March 31, 2015 and 2014.

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Fair Value Measurements Fair Value, Option, Quantitative Disclosures (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Dec. 31, 2014
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets	$ 679		$ 719
Fair Value of Derivative Liabilities	765		794
Level 3
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets	94
Fair Value of Derivative Liabilities	18
Level 3 | Natural Gas | Physical and Financial Forwards and Futures:
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets	85	[1]
Fair Value of Derivative Liabilities	12	[1]
Level 3 | Natural Gas | Physical and Financial Options:
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets	5
Fair Value of Derivative Liabilities	2
Level 3 | FTRs | Physical and Financial Forwards and Futures:
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets	4
Fair Value of Derivative Liabilities	4
Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | Natural Gas | Physical and Financial Forwards and Futures: | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	(2)	[2]
Credit spread (percentage)	1.00%	[3]
Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | Natural Gas | Physical and Financial Forwards and Futures: | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	6	[2]
Credit spread (percentage)	5.00%	[3]
Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | Natural Gas | Physical and Financial Forwards and Futures: | Wieghted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	(1)	[2],[4]
Credit spread (percentage)	2.00%	[3],[4]
Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | Natural Gas | Physical and Financial Options: | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	2	[3]
Price Volatility (percentage)	21.00%	[5]
Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | Natural Gas | Physical and Financial Options: | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	4	[3]
Price Volatility (percentage)	76.00%	[5]
Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | Natural Gas | Physical and Financial Options: | Wieghted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	3	[2],[4]
Price Volatility (percentage)	32.00%	[4],[5]
Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | FTRs | Physical and Financial Forwards and Futures: | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	(5)	[2]
Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | FTRs | Physical and Financial Forwards and Futures: | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	7	[2]
Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | FTRs | Physical and Financial Forwards and Futures: | Wieghted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	1	[2],[4]
Level 3 | Fair Value, Option, Quantitative Disclosures, Liabilities | Natural Gas | Physical and Financial Forwards and Futures: | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	(2)	[2]
Level 3 | Fair Value, Option, Quantitative Disclosures, Liabilities | Natural Gas | Physical and Financial Forwards and Futures: | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	4	[2]
Level 3 | Fair Value, Option, Quantitative Disclosures, Liabilities | Natural Gas | Physical and Financial Forwards and Futures: | Wieghted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	2	[2],[4]
Level 3 | Fair Value, Option, Quantitative Disclosures, Liabilities | Natural Gas | Physical and Financial Options: | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	2	[2]
Price Volatility (percentage)	21.00%	[5]
Level 3 | Fair Value, Option, Quantitative Disclosures, Liabilities | Natural Gas | Physical and Financial Options: | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	4	[2]
Price Volatility (percentage)	76.00%	[5]
Level 3 | Fair Value, Option, Quantitative Disclosures, Liabilities | Natural Gas | Physical and Financial Options: | Wieghted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	3	[2],[4]
Price Volatility (percentage)	32.00%	[4],[5]
Level 3 | Fair Value, Option, Quantitative Disclosures, Liabilities | FTRs | Physical and Financial Forwards and Futures: | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	(2)	[2]
Level 3 | Fair Value, Option, Quantitative Disclosures, Liabilities | FTRs | Physical and Financial Forwards and Futures: | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	5	[2]
Level 3 | Fair Value, Option, Quantitative Disclosures, Liabilities | FTRs | Physical and Financial Forwards and Futures: | Wieghted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	1	[2],[4]
Virginia Electric and Power Company
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets	106		113
Fair Value of Derivative Liabilities	139		87
Virginia Electric and Power Company | Level 3
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets	82
Fair Value of Derivative Liabilities	4
Virginia Electric and Power Company | Level 3 | Natural Gas | Physical and Financial Forwards and Futures:
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets	78	[1]
Virginia Electric and Power Company | Level 3 | FTRs | Physical and Financial Forwards and Futures:
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value of Derivative Assets	4
Fair Value of Derivative Liabilities	$ 4
Virginia Electric and Power Company | Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | Natural Gas | Physical and Financial Forwards and Futures: | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	(2)	[2]
Credit spread (percentage)	1.00%	[3]
Virginia Electric and Power Company | Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | Natural Gas | Physical and Financial Forwards and Futures: | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	3	[2]
Credit spread (percentage)	5.00%	[3]
Virginia Electric and Power Company | Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | Natural Gas | Physical and Financial Forwards and Futures: | Wieghted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	(1)	[2],[4]
Credit spread (percentage)	2.00%	[3],[4]
Virginia Electric and Power Company | Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | FTRs | Physical and Financial Forwards and Futures: | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	(5)	[2]
Virginia Electric and Power Company | Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | FTRs | Physical and Financial Forwards and Futures: | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	7	[2]
Virginia Electric and Power Company | Level 3 | Fair Value, Option, Quantitative Disclosures, Assets | FTRs | Physical and Financial Forwards and Futures: | Wieghted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	1	[2],[4]
Virginia Electric and Power Company | Level 3 | Fair Value, Option, Quantitative Disclosures, Liabilities | Natural Gas | Physical and Financial Forwards and Futures: | Minimum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	(2)	[2]
Virginia Electric and Power Company | Level 3 | Fair Value, Option, Quantitative Disclosures, Liabilities | Natural Gas | Physical and Financial Forwards and Futures: | Maximum
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	5	[2]
Virginia Electric and Power Company | Level 3 | Fair Value, Option, Quantitative Disclosures, Liabilities | FTRs | Physical and Financial Forwards and Futures: | Wieghted Average
Fair Value, Option, Quantitative Disclosures [Line Items]
Market Price (per unit)	1	[2],[4]

[1] Includes basis.

[2] Represents market prices beyond defined terms for Levels 1 and 2.

[3] Represents credit spreads unrepresented in published markets.

[4] Averages weighted by volume.

[5] Represents volatilities unrepresented in published markets.

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Significant Accounting Policies (Narrative) (Details) (Dominion Midstream Partners, LP, IPO)	1 Months Ended
	Oct. 31, 2014
Dominion Midstream Partners, LP | IPO
Subsidiary, Sale of Stock [Line Items]
Percentage of limited partner interests in Dominion Midstream Partners, LP	68.50%

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Credit Risk (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015 Counterparty	Mar. 31, 2014	Dec. 31, 2014
Concentration Risk and Guarantor Obligations [Line Items]
Gross credit exposure	$ 356
Number of counterparties	0
Additional collateral to be posted if the credit related contingent features were triggered	16		20
Collateral posted	96		1
Fair value of all derivative instruments not fully collateralized	40		49
Gas transportation and storage	471	444
Investment Grade | Investment grade counterparties
Concentration Risk and Guarantor Obligations [Line Items]
Concentration risk, percentage (percentage)	89.00%
Investment Grade | Counterparty, A
Concentration Risk and Guarantor Obligations [Line Items]
Amount of exposure for single counterparty	46
Dominion Gas Holdings, LLC
Concentration Risk and Guarantor Obligations [Line Items]
Gas transportation and storage	412	396
Dominion Gas Holdings, LLC | Storage and Transportation Revenue | Customer Concentration Risk
Concentration Risk and Guarantor Obligations [Line Items]
Concentration risk, percentage (percentage)	94.00%
Number of customers	248
Dominion Gas Holdings, LLC | Ten Largest Customers | Storage and Transportation Revenue | Customer Concentration Risk
Concentration Risk and Guarantor Obligations [Line Items]
Concentration risk, percentage (percentage)	42.00%
Number of customers	10
Dominion Gas Holdings, LLC | Thirty Largest Customers | Storage and Transportation Revenue | Customer Concentration Risk
Concentration Risk and Guarantor Obligations [Line Items]
Concentration risk, percentage (percentage)	73.00%
Number of customers	30
Dominion Gas Holdings, LLC | Long Term Capacity Contracts | Storage and Transportation Revenue | Customer Concentration Risk
Concentration Risk and Guarantor Obligations [Line Items]
Concentration risk, percentage (percentage)	98.00%
Term of contract	2 years
Dominion Gas Holdings, LLC | Annual Capacity Contracts | Storage and Transportation Revenue | Customer Concentration Risk
Concentration Risk and Guarantor Obligations [Line Items]
Concentration risk, percentage (percentage)	2.00%
Dominion Gas Holdings, LLC | Unsubscribed Firm Transportation Capacity | Storage and Transportation Revenue | Customer Concentration Risk
Concentration Risk and Guarantor Obligations [Line Items]
Concentration risk, percentage (percentage)	1.00%
DTI | Thirty Largest Customers | Storage and Transportation Revenue | Customer Concentration Risk
Concentration Risk and Guarantor Obligations [Line Items]
Gas transportation and storage	$ 201
East Ohio | Storage and Transportation Revenue | Customer Concentration Risk
Concentration Risk and Guarantor Obligations [Line Items]
Concentration risk, percentage (percentage)	99.00%

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Significant Financing Transactions (Tables)

3 Months Ended

Mar. 31, 2015

Debt Instrument [Line Items]

Schedule of Line of Credit Facilities

At March 31, 2015, Dominion’s commercial paper and letters of credit outstanding, as well as its capacity available under credit facilities, were as follows:

	Facility Limit		Outstanding Commercial Paper		Outstanding Letters of Credit		Facility Capacity Available
(millions)
Joint revolving credit facility(1)	$	4,000	$	3,112	$	—	$	888
Joint revolving credit facility(2)	500		88		48		364
Total	$	4,500	$	3,200	$	48	$	1,252

(1) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $1.5 billion of letters of credit.

(2) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings, commercial paper and letter of credit issuances.

Virginia Electric and Power Company

Debt Instrument [Line Items]

Schedule of Line of Credit Facilities

At March 31, 2015, Virginia Power’s share of commercial paper and letters of credit outstanding, as well as its capacity available under its joint credit facilities with Dominion and Dominion Gas, were as follows:

	Facility Sub-limit		Outstanding Commercial Paper		Outstanding Letters of Credit		Facility Sub-limit Capacity Available
(millions)
Joint revolving credit facility(1)	$	1,500	$	1,500	$	—	$	—
Joint revolving credit facility(2)	250		88		—		162
Total	$	1,750	$	1,588	$	—	$	162

(1) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $1.5 billion (or the sub-limit, whichever is less) of letters of credit. Virginia Power's current sub-limit under this credit facility can be increased or decreased multiple times per year. In January 2015, Virginia Power increased its sub-limit from $1.25 billion to $1.50 billion.

(2) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings, commercial paper and letter of credit issuances. Virginia Power's current sub-limit under this credit facility can be increased or decreased multiple times per year.

Dominion Gas Holdings, LLC

Debt Instrument [Line Items]

Schedule of Line of Credit Facilities

At March 31, 2015, Dominion Gas' share of commercial paper and letters of credit outstanding, as well as its capacity available under its joint credit facilities with Dominion and Virginia Power were as follows:

	Facility Sub-limit		Outstanding Commercial Paper		Outstanding Letters of Credit		Facility Sub-limit Capacity Available
(millions)
Joint revolving credit facility(1)	$	500	$	280	$	—	$	220
Joint revolving credit facility(2)	—		—		—		—
Total	$	500	$	280	$	—	$	220

(1) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $1.5 billion (or the sub-limit, whichever is less) of letters of credit. Dominion Gas' current sub-limit under this credit facility can be increased or decreased multiple times per year, up to a maximum of $1.0 billion.

(2) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings, commercial paper and letter of credit issuances. Dominion Gas' current sub-limit under this credit facility can be increased or decreased multiple times per year.

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Fair Value Measurements (Net Change in the Assets and Liabilities Measured at Fair Value on a Recurring Basis and Included in the Level 3 Fair Value Category) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Total realized and unrealized gains (losses):
Included in earnings	$ 15		$ 110
The amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets/liabilities still held at the reporting date	0		1
Level 3 | Commodity Transactions | Fair Value, Measurements, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	107		(16)
Total realized and unrealized gains (losses):
Included in earnings	15		110
Included in other comprehensive income (loss)	(11)		4
Included in regulatory assets/liabilities	(24)		17
Settlements	(14)		(108)
Transfers out of Level 3(1)	3	[1]	1	[1]
Ending balance	76		8
The amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets/liabilities still held at the reporting date	0		1
Level 3 | NGLs | Fair Value, Measurements, Recurring
Total realized and unrealized gains (losses):
Transfers out of Level 3(1)	9	[1]
Level 3 | Virginia Electric and Power Company | Commodity Transactions | Fair Value, Measurements, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	102		(7)
Total realized and unrealized gains (losses):
Included in earnings	14		120
Included in regulatory assets/liabilities	(24)		17
Settlements	(14)		(120)
Ending balance	78		10
Level 3 | Dominion Gas Holdings, LLC | Commodity Transactions | Fair Value, Measurements, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	2		(6)
Total realized and unrealized gains (losses):
Included in earnings	1		(5)
Included in other comprehensive income (loss)	(11)		4
Settlements	(1)		5
Transfers out of Level 3(1)	9	[1]	0	[1]
Ending balance	0		(2)
Level 3 | Dominion Gas Holdings, LLC | NGLs | Fair Value, Measurements, Recurring
Total realized and unrealized gains (losses):
Transfers out of Level 3(1)	$ 9	[1]

[1] In March 2015, Dominion changed the classification of NGL derivatives from Level 3 to Level 2 due to an increase in liquidity in financial forward markets. At March 31, 2015, $9 million of the transfers out of Level 3 relate to NGLs.

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Regulatory Assets and Liabilities (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Dec. 31, 2014
Regulatory Assets and Liablities [Line Items]
Deferred cost of fuel used in electric generation	$ 122	[1]	$ 79	[1]
Deferred rate adjustment clause costs	108	[2]	124	[2]
Deferred nuclear refueling outage costs	57	[3]	44	[3]
Unrecovered gas costs	16	[4]	36	[4]
Other	59		64
Regulatory assets current	362	[5]	347	[5]
Unrecognized pension and other postretirement benefit costs	1,034	[6]	1,050	[6]
Deferred rate adjustment clause costs	216	[2]	250	[2]
Derivatives	150	[7]	101	[7]
Income taxes recoverable through future rates	136	[8]	133	[8]
Other	129		108
Regulatory assets-non-current	1,665		1,642	[9]
Total regulatory assets	2,027		1,989
PIPP	63	[10]	71	[10]
Other	43		99
Regulatory liabilities current	106	[11]	170	[11]
Provision for future cost of removal and AROs	1,100	[12]	1,072	[12]
Nuclear decommissioning trust	822	[13]	815	[13]
Other	197		104
Regulatory liabilities-non-current	2,119		1,991	[9]
Total regulatory liabilities	2,225		2,161
Amortization period for deferred costs	18 months
Virginia Electric and Power Company
Regulatory Assets and Liablities [Line Items]
Deferred cost of fuel used in electric generation	122	[1]	79	[1]
Deferred rate adjustment clause costs	106	[2]	117	[2]
Deferred nuclear refueling outage costs	57	[3]	44	[3]
Other	54		58
Regulatory assets current	339		298	[14]
Deferred rate adjustment clause costs	141	[2]	179	[2]
Derivatives	150	[7]	101	[7]
Income taxes recoverable through future rates	103	[8]	100	[8]
Other	70		59
Regulatory assets-non-current	464		439	[14]
Total regulatory assets	803		737
Other	23		90
Regulatory liabilities current	23	[11]	90	[11]
Provision for future cost of removal	864	[12]	852	[12]
Nuclear decommissioning trust	822	[13]	815	[13]
Other	83		16
Regulatory liabilities-non-current	1,769		1,683	[14]
Total regulatory liabilities	1,792		1,773
Dominion Gas Holdings, LLC
Regulatory Assets and Liablities [Line Items]
Deferred rate adjustment clause costs	2	[2]	7	[2]
Unrecovered gas costs	13	[4]	29	[4]
Other	1		2
Regulatory assets current	16	[5]	38	[5]
Unrecognized pension and other postretirement benefit costs	239	[6]	242	[6]
Deferred rate adjustment clause costs	75	[2]	71	[2]
Income taxes recoverable through future rates	24	[8]	24	[8]
Other	52		42
Regulatory assets-non-current	390		379	[15]
Total regulatory assets	406		417
PIPP	63	[10]	71	[10]
Other	16		4
Regulatory liabilities current	79	[11]	75	[11]
Provision for future cost of removal and AROs	172	[12]	172	[12]
Other	26		20
Regulatory liabilities-non-current	198	[16]	192	[16]
Total regulatory liabilities	$ 277		$ 267

[1] Primarily reflects deferred fuel expenses for the Virginia jurisdiction of Virginia Power's generation operations. See Note 12 for more information.

[2] Reflects deferrals under the electric transmission FERC formula rate and the deferral of costs associated with certain current and prospective rider projects for Virginia Power. Reflects deferrals of costs associated with certain current and prospective rider projects for Dominion Gas. See Note 12 for more information.

[3] Legislation enacted in Virginia in April 2014 requires Virginia Power to defer operation and maintenance costs incurred in connection with the refueling of any nuclear-powered generating plant. These deferred costs will be amortized over the refueling cycle, not to exceed 18 months.

[4] Reflects unrecovered gas costs at regulated gas operations, which are recovered through filings with the applicable regulatory authority.

[5] Current regulatory assets are presented in other current assets in Dominion's and Dominion Gas' Consolidated Balance Sheets.

[6] Represents unrecognized pension and other postretirement employee benefit costs expected to be recovered through future rates generally over the expected remaining service period of plan participants by certain of Dominion's and Dominion Gas' rate-regulated subsidiaries.

[7] For jurisdictions subject to cost-based rate regulation, changes in the fair value of derivative instruments result in the recognition of regulatory assets or regulatory liabilities as they are expected to be recovered from or refunded to customers.

[8] Amounts to be recovered through future rates to pay income taxes that become payable when rate revenue is provided to recover AFUDC-equity and depreciation of property, plant and equipment for which deferred income taxes were not recognized for ratemaking purposes, including amounts attributable to tax rate changes.

[9] Dominion’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

[10] Under PIPP, eligible customers can make reduced payments based on their ability to pay. The difference between the customer's total bill and the PIPP plan amount is deferred and collected or returned annually under the PIPP rider according to East Ohio tariff provisions.

[11] Current regulatory liabilities are presented in other current liabilities in the Companies' Consolidated Balance Sheets.

[12] Rates charged to customers by the Companies' regulated businesses include a provision for the cost of future activities to remove assets that are expected to be incurred at the time of retirement.

[13] Primarily reflects a regulatory liability representing amounts collected from Virginia jurisdictional customers and placed in external trusts (including income, losses and changes in fair value thereon) for the future decommissioning of Virginia Power's utility nuclear generation stations, in excess of the related AROs.

[14] Virginia Power’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

[15] Dominion Gas’ Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

[16] Noncurrent regulatory liabilities are presented in other deferred credits and other liabilities in Dominion Gas' Consolidated Balance Sheets.

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Derivatives and Hedge Accounting Activities (Schedule of Derivatives not Designated as Hedging Instruments) (Details) (Derivatives not designated as hedging instruments, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	$ 7	[1]	$ (221)	[1]
Commodity | Operating revenue
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	3	[1]	(361)	[1]
Commodity | Purchased gas
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	(2)	[1]	7	[1]
Commodity | Electric fuel and other energy-related purchases
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	6	[1]	133	[1]
Virginia Electric and Power Company
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	7	[2]	119	[2]
Virginia Electric and Power Company | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	$ 7	[2],[3]	$ 119	[2],[3]

[1] Includes derivative activity amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Dominion’s Consolidated Statements of Income.

[2] Includes derivative activity amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Virginia Power’s Consolidated Statements of Income.

[3] Amounts recorded in Virginia Power's Consolidated Statements of Income are classified in electric fuel and other energy-related purchases.

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Accumulated Other Comprehensive Income (Schedule of Changes in AOCI by Component Net of Tax) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (416)	[1]	$ (324)
Other comprehensive income before reclassifications: gains (losses)	(44)		(132)
Amounts reclassified from AOCI: (gains) losses	51	[2]	157	[2]
Total other comprehensive income	7		25
Ending balance	(409)		(299)
Dominion Gas Holdings, LLC
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(86)	[3],[4]	(58)
Other comprehensive income before reclassifications: gains (losses)	(4)		(8)
Amounts reclassified from AOCI: (gains) losses	1	[2]	6	[2]
Total other comprehensive income	(3)		(2)
Ending balance	(89)	[3]	(60)
Deferred gains and losses on derivatives-hedging activities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(178)		(288)
Other comprehensive income before reclassifications: gains (losses)	(58)		(150)
Amounts reclassified from AOCI: (gains) losses	59	[2]	160	[2]
Total other comprehensive income	1		10
Ending balance	(177)		(278)
Deferred gains and losses on derivatives-hedging activities | Dominion Gas Holdings, LLC
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(20)		3
Other comprehensive income before reclassifications: gains (losses)	(4)		(8)
Amounts reclassified from AOCI: (gains) losses	0	[2]	5	[2]
Total other comprehensive income	(4)		(3)
Ending balance	(24)		0
Unrealized gains and losses on investment securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	548		474
Other comprehensive income before reclassifications: gains (losses)	15		29
Amounts reclassified from AOCI: (gains) losses	(21)	[2]	(11)	[2]
Total other comprehensive income	(6)		18
Ending balance	542		492
Unrecognized pension and other postretirement benefit costs
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(782)		(510)
Other comprehensive income before reclassifications: gains (losses)	0		(4)
Amounts reclassified from AOCI: (gains) losses	13	[2]	8	[2]
Total other comprehensive income	13		4
Ending balance	(769)		(506)
Unrecognized pension and other postretirement benefit costs | Dominion Gas Holdings, LLC
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(66)		(61)
Other comprehensive income before reclassifications: gains (losses)	0		0
Amounts reclassified from AOCI: (gains) losses	1	[2]	1	[2]
Total other comprehensive income	1		1
Ending balance	(65)		(60)
Other comprehensive income (loss) from equity method investee
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(4)		0
Other comprehensive income before reclassifications: gains (losses)	(1)		(7)
Amounts reclassified from AOCI: (gains) losses	0	[2]	0	[2]
Total other comprehensive income	(1)		(7)
Ending balance	$ (5)		$ (7)

[1] Dominion’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

[2] See table below for details about these reclassifications.

[3] See Note 17 for amounts attributable to related parties.

[4] Dominion Gas’ Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

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Nature of Operations

3 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations

Nature of Operations

Dominion, headquartered in Richmond, Virginia, is one of the nation’s largest producers and transporters of energy. Dominion’s operations are conducted through various subsidiaries, including Virginia Power and Dominion Gas. Virginia Power is a regulated public utility that generates, transmits and distributes electricity for sale in Virginia and northeastern North Carolina. Dominion Gas is a holding company that conducts business activities through a regulated interstate natural gas transmission pipeline and underground storage system in the Northeast, mid-Atlantic and Midwest states, regulated gas transportation and distribution operations in Ohio, and gas gathering and processing activities primarily in West Virginia, Ohio and Pennsylvania. Dominion Gas' wholly-owned subsidiaries are DTI, East Ohio and Dominion Iroquois.

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Investments (Narrative) (Details) (USD $) In Millions, unless otherwise specified	1 Months Ended		3 Months Ended
	Jan. 31, 2014	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Blue Racer
Gain (Loss) on Investments [Line Items]
Increase in equity method investment	$ 155
Write off of goodwill	6
Blue Racer | Pipelines
Gain (Loss) on Investments [Line Items]
Consideration for Northern System		84		84
Cash proceeds from sale of assets		84
After tax gain on sale of assets		34
Dominion Gas Holdings, LLC
Gain (Loss) on Investments [Line Items]
Equity in earnings on investments			8	8
Distributions received from investment			12	5
Carrying amount of investment that exceeded share of underlying equity					8
Dominion Gas Holdings, LLC | Blue Racer | Pipelines
Gain (Loss) on Investments [Line Items]
Write off of goodwill		3
Cash proceeds from sale of assets		17
Extinguishment of affiliated current borrowings		67
Gain on sale of assets		59
After tax gain on sale of assets		35
Categories of Investments, Marketable Securities, Trading Securities
Gain (Loss) on Investments [Line Items]
Assets Held-in-trust			116		110
Cost method investments
Gain (Loss) on Investments [Line Items]
Assets Held-in-trust			$ 6		$ 6

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Acquisitions and Dispositions (Narrative) (Details) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended		1 Months Ended			12 Months Ended			1 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2015 acre Field	Dec. 31, 2013 acre Field	Dec. 31, 2014		Dec. 31, 2013 acre Field	Apr. 30, 2015 MW	Jan. 31, 2015 mi	Apr. 01, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill	$ 3,294			$ 3,294		$ 3,044	[1]
Proceeds from assignments of Marcellus acreage	27	0
Electric Retail Energy Marketing Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from assignments of Marcellus acreage			187
Gain on sale			100
After tax gain on sale			57
Write off of goodwill			31
Dominion Gas Holdings, LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill	542			542		542	[2]
Dominion Gas Holdings, LLC | Marcellus Acreage
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acres of Marcellus Shale development rights conveyed	11,000			11,000	79,000			79,000
Number of natural gas storage fields	1			1	1			1
Total payments to DTI per agreement (up to 200 million)	27			27	200			200
Duration of conveyance of rights					9 years
Cash proceeds from sale of assets				27		16		82
Deferred revenue						85
Gain on sale of assets				27
After tax gain on sale of assets				16
Dominion Gas Holdings, LLC | Marcellus Acreage | Amended Agreement to Extend Conveyance of Development Rights
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acres of Marcellus Shale development rights conveyed	9,000			9,000
Duration of conveyance of rights				2 years
Deferred revenue	40			40
Deferred revenue recognized from conveyance of rights				43
Deferred revenue recognized from conveyance of rights, after tax				27
Acquisition of Solar Development Projects
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of equity interests acquired		100.00%	100.00%
Number of solar development projects			6
Acquisition price			50
Expected cost of projects		446	446
Expected generation capacity of facilities			139
EC&R Solar PV LLC | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of equity interests acquired									100.00%
Acquisition price									66
Expected cost of projects									69
Expected generation capacity of facilities									20
EDF Renewable Development, Inc. | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of equity interests acquired									100.00%
Acquisition price									106
Expected cost of projects									111
Expected generation capacity of facilities									24
Acquisition of CGT
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of equity interests acquired										100.00%
Acquisition price										495
Length of natural gas pipeline										1,500
Net property, plant and equipment acquired										277
Goodwill										250
Goodwill expected to be deductible for income tax purposes										225
Regulatory liabilities assumed										38
Acquisition of CGT | Dominion Midstream Partners, LP | Affiliated Entity | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acquisition price											495
Percentage of equity interests in DCGT contributed in Dominion Midstream											100.00%
Acquisition of CGT | Dominion Midstream Partners, LP | Affiliated Entity | Senior unsecured promissory note payable | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Term of senior unsecured promissory note payable											2 years
Senior unsecured promissory note payable											295
Annual interest rate for senior unsecured promissory note payable											0.60%
Acquisition of CGT | Dominion Midstream Partners, LP | Affiliated Entity | Partnership Interest | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received, common units of Dominion Midstream											5,112,139
Consideration received, value of common units of Dominion Midstream											$ 200
Number of trading days used to determine weighted average trading price											10 days
Price per unit											$ 39.12

[1] Dominion’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

[2] Dominion Gas’ Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

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Operating Revenue (Tables)

3 Months Ended

Mar. 31, 2015

Regulated and Unregulated Operating Revenue [Abstract]

Operating Revenue

The Companies’ operating revenue consists of the following:

	Three Months Ended March 31,
	2015		2014
(millions)
Dominion
Electric sales:
Regulated	$	2,112	$	1,951
Nonregulated	406		854
Gas sales:
Regulated	116		147
Nonregulated	208		117
Gas transportation and storage	471		444
Other	96		117
Total operating revenue	$	3,409	$	3,630
Virginia Power
Regulated electric sales	$	2,112	$	1,951
Other	25		32
Total operating revenue	$	2,137	$	1,983
Dominion Gas
Gas sales:
Regulated	$	57	$	83
Nonregulated	3		9
Gas transportation and storage	412		396
NGL revenue	29		57
Other	30		24
Total operating revenue	$	531	$	569

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Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Estimates

The Companies make certain estimates and assumptions in preparing their Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates.

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Derivatives and Hedge Accounting Activities (Schedule of Offsetting Liabilities) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Offsetting Liabilities [Line Items]
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	$ 754	$ 782
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Total derivatives, not subject to a master netting or similar arrangement	11	12
Derivative Liabilities	765	794
Derivative, Collateral, Right to Reclaim Securities	389	348
Derivative, Collateral, Right to Reclaim Cash	38	196
Net Amounts	327	238
Interest rate | Over-the-counter
Offsetting Liabilities [Line Items]
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	307	202
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Derivative, Collateral, Right to Reclaim Securities	18	16
Derivative, Collateral, Right to Reclaim Cash	0	0
Net Amounts	289	186
Commodity | Over-the-counter
Offsetting Liabilities [Line Items]
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	83	87
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Derivative, Collateral, Right to Reclaim Securities	45	34
Derivative, Collateral, Right to Reclaim Cash	0	1
Net Amounts	38	52
Commodity | Exchange
Offsetting Liabilities [Line Items]
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	364	493
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Derivative, Collateral, Right to Reclaim Securities	326	298
Derivative, Collateral, Right to Reclaim Cash	38	195
Net Amounts	0	0
Virginia Electric and Power Company
Offsetting Liabilities [Line Items]
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	133	80
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Total derivatives, not subject to a master netting or similar arrangement	6	7
Derivative Liabilities	139	87
Derivative, Collateral, Right to Reclaim Securities	4	4
Derivative, Collateral, Right to Reclaim Cash	0	0
Net Amounts	129	76
Virginia Electric and Power Company | Interest rate | Over-the-counter
Offsetting Liabilities [Line Items]
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	128	72
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Derivative, Collateral, Right to Reclaim Securities	0	0
Derivative, Collateral, Right to Reclaim Cash	0	0
Net Amounts	128	72
Virginia Electric and Power Company | Commodity | Over-the-counter
Offsetting Liabilities [Line Items]
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	5	8
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Derivative, Collateral, Right to Reclaim Securities	4	4
Derivative, Collateral, Right to Reclaim Cash	0	0
Net Amounts	1	4
Dominion Gas Holdings, LLC
Offsetting Liabilities [Line Items]
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	16	9
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Derivative, Collateral, Right to Reclaim Securities	3	0
Derivative, Collateral, Right to Reclaim Cash	0	0
Net Amounts	13	9
Dominion Gas Holdings, LLC | Interest rate | Over-the-counter
Offsetting Liabilities [Line Items]
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	13	9
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Derivative, Collateral, Right to Reclaim Securities	0	0
Derivative, Collateral, Right to Reclaim Cash	0	0
Net Amounts	13	9
Dominion Gas Holdings, LLC | Commodity | Over-the-counter
Offsetting Liabilities [Line Items]
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	3	0
Gross Amounts Offset in the Consolidated Balance Sheet	0	0
Derivative, Collateral, Right to Reclaim Securities	3	0
Derivative, Collateral, Right to Reclaim Cash	0	0
Net Amounts	$ 0	$ 0

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Operating Revenue (Operating Revenue) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Electric sales:
Regulated	$ 2,112		$ 1,951
Nonregulated	406		854
Gas sales:
Regulated	116		147
Nonregulated	208		117
Gas transportation and storage	471		444
Other	96		117
Total operating revenue	3,409		3,630
Virginia Electric and Power Company
Electric sales:
Regulated	2,112		1,951
Gas sales:
Other	25		32
Total operating revenue	2,137	[1]	1,983	[1]
Dominion Gas Holdings, LLC
Gas sales:
Regulated	57		83
Nonregulated	3		9
Gas transportation and storage	412		396
NGL revenue	29		57
Other	30		24
Total operating revenue	$ 531	[2]	$ 569	[2]

[1] See Note 17 for amounts attributable to affiliates.

[2] See Note 17 for amounts attributable to related parties.

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Income Taxes (Tables)

3 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Effective Income Tax

For continuing operations, including noncontrolling interests, the statutory U.S. federal income tax rate reconciles to the Companies' effective income tax rate as follows:

	Dominion				Virginia Power				Dominion Gas
Three Months Ended March 31,	2015		2014		2015		2014		2015		2014
U.S. statutory rate	35.0	%	35.0	%	35.0	%	35.0	%	35.0	%	35.0	%
Increases (reductions) resulting from:
State taxes, net of federal benefit	2.9		2.7		3.8		3.8		4.0		3.4
Investment tax credits	(0.8	)	(3.6	)	—		—		—		—
Production tax credits	(0.8	)	(0.6	)	(0.4	)	(0.8	)	—		—
Other, net	(0.6	)	(0.8	)	(0.7	)	(0.2	)	(0.1	)	0.3
Effective tax rate	35.7	%	32.7	%	37.7	%	37.8	%	38.9	%	38.7	%

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Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share Computation

The following table presents the calculation of Dominion’s basic and diluted EPS:

	Three Months Ended March 31,
	2015		2014
(millions, except EPS)
Net income attributable to Dominion	$	536	$	379
Average shares of common stock outstanding – Basic	587.9		581.6
Net effect of dilutive securities(1)	2.0		1.3
Average shares of common stock outstanding – Diluted	589.9		582.9
Earnings Per Common Share – Basic and Diluted	$	0.91	$	0.65

(1) Dilutive securities consist primarily of the 2013 Equity Units for 2015 and contingently convertible senior notes and the 2013 Equity Units for 2014. See Note 14 in this report and Note 17 to the Consolidated Financial Statements in the Companies' Annual Report on Form 10-K for the year ended December 31, 2014 for more information.

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Consolidated Statements of Cash Flows (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Operating Activities
Net income including noncontrolling interests	$ 540		$ 385
Net income	536		379
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities:
Depreciation and amortization (including nuclear fuel)	414		378
Deferred income taxes and investment tax credits	277		232
Gains on the sale of assets and businesses	(70)		(159)
Other adjustments	(40)		(34)
Changes in:
Accounts receivable	(65)		(183)
Inventories	148		163
Deferred fuel and purchased gas costs, net	(33)		(304)
Accounts payable	(85)		53
Accrued interest, payroll and taxes	(15)		(55)
Margin deposit assets and liabilities	111		105
Other operating assets and liabilities	(51)		172
Net cash provided by operating activities	1,131		753
Investing Activities
Plant construction and other property additions (including nuclear fuel)	(1,014)		(1,120)
Acquisition of solar development projects	0		(47)
Acquisition of DCGT	(495)		0
Proceeds from sales of securities	337		442
Purchases of securities	(304)		(441)
Proceeds from the sale of electric retail energy marketing business	0		187
Proceeds from the sale of assets to Blue Racer	0		84
Proceeds from assignments of Marcellus acreage	27		0
Other	(50)		(24)
Net cash used in investing activities	(1,499)		(919)
Financing Activities
Issuance of short-term debt, net	425		45
Issuance of long-term debt	0		1,150
Repayment and repurchase of long-term debt	(3)		(608)
Subsidiary preferred stock redemption	0		(125)
Issuance of common stock	295		0
Common dividend payments	(381)		(349)
Distributions to Dominion Midstream public unitholders	(3)		0
Subsidiary preferred dividend payments	0		(4)
Other	(8)		(31)
Net cash provided by financing activities	325		78
Decrease in cash and cash equivalents	(43)		(88)
Cash and cash equivalents at beginning of period	318	[1]	316
Cash and cash equivalents at end of period	275		228
Significant noncash investing activities:
Accrued capital expenditures	353		261
Virginia Electric and Power Company
Operating Activities
Net income	269		324
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities:
Depreciation and amortization (including nuclear fuel)	281		263
Deferred income taxes and investment tax credits	67		203
Other adjustments	(7)		(12)
Changes in:
Accounts receivable	(20)		(9)
Inventories	85		91
Deferred fuel and purchased gas costs, net	(54)		(328)
Prepayments	214		(15)
Accounts payable	3		34
Accrued interest, payroll and taxes	116		10
Other operating assets and liabilities	7		39
Net cash provided by operating activities	961		600
Investing Activities
Plant construction and other property additions (including nuclear fuel)	(583)		(691)
Purchases of nuclear fuel	(23)		(68)
Proceeds from sales of securities	133		204
Purchases of securities	(138)		(215)
Other	(11)		(6)
Net cash used in investing activities	(622)		(776)
Financing Activities
Issuance of short-term debt, net	227		(339)
Issuance (repayment) of affiliated current borrowings, net	(417)		62
Issuance of long-term debt	0		750
Subsidiary preferred stock redemption	0		(125)
Common dividend payments	(149)		(149)
Subsidiary preferred dividend payments	0		(4)
Other	1		(11)
Net cash provided by financing activities	(338)		184
Decrease in cash and cash equivalents	1		8
Cash and cash equivalents at beginning of period	15	[2]	16
Cash and cash equivalents at end of period	16		24
Significant noncash investing activities:
Accrued capital expenditures	139		203
Dominion Gas Holdings, LLC
Operating Activities
Net income	161		164
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities:
Depreciation and amortization	51		47
Deferred income taxes and investment tax credits	36		27
Gains on the sale of assets and businesses	(70)		(59)
Other adjustments	3		(2)
Changes in:
Accounts receivable	(24)		(154)
Deferred fuel and purchased gas costs, net	16		29
Prepayments	102		10
Accounts payable	(33)		(16)
Accrued interest, payroll and taxes	49		73
Other operating assets and liabilities	(18)		(6)
Net cash provided by operating activities	273		113
Investing Activities
Plant construction and other property additions (including nuclear fuel)	(128)		(107)
Proceeds from sale of assets to an affiliate	0		30
Proceeds from the sale of assets to Blue Racer	27		0
Other	(1)		(2)
Net cash used in investing activities	(102)		(79)
Financing Activities
Issuance of short-term debt, net	280		0
Issuance (repayment) of affiliated current borrowings, net	(345)		51
Distribution payments	(95)		(78)
Other	(1)		(1)
Net cash provided by financing activities	(161)		(28)
Decrease in cash and cash equivalents	10		6
Cash and cash equivalents at beginning of period	9	[3]	8
Cash and cash equivalents at end of period	19		14
Significant noncash investing activities:
Accrued capital expenditures	22		24
Proceeds from sale of assets to affiliate not yet received	0		17
Extinguishment of affiliated long-term debt in exchange for assets sold to affiliate	$ 0		$ 67

[1] Dominion’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

[2] Virginia Power’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

[3] Dominion Gas’ Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

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Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2015

Accumulated Other Comprehensive Income (Loss) [Line Items]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents Dominion’s changes in AOCI by component, net of tax:

	Deferred gains and losses on derivatives-hedging activities			Unrealized gains and losses on investment securities			Unrecognized pension and other postretirement benefit costs			Other comprehensive income (loss) from equity method investee			Total
(millions)
Three Months Ended March 31, 2015
Beginning balance	$	(178	)	$	548		$	(782	)	$	(4	)	$	(416	)
Other comprehensive income before reclassifications: gains (losses)	(58		)	15			—			(1		)	(44		)
Amounts reclassified from AOCI(1): (gains) losses	59			(21		)	13			—			51
Net current-period other comprehensive income (loss)	1			(6		)	13			(1		)	7
Ending balance	$	(177	)	$	542		$	(769	)	$	(5	)	$	(409	)
Three Months Ended March 31, 2014
Beginning balance	$	(288	)	$	474		$	(510	)	$	—		$	(324	)
Other comprehensive income before reclassifications: gains (losses)	(150		)	29			(4		)	(7		)	(132		)
Amounts reclassified from AOCI(1): (gains) losses	160			(11		)	8			—			157
Net current-period other comprehensive income (loss)	10			18			4			(7		)	25
Ending balance	$	(278	)	$	492		$	(506	)	$	(7	)	$	(299	)

(1) See table below for details about these reclassifications.

Reclassification out of Accumulated Other Comprehensive Income

The following table presents Dominion’s reclassifications out of AOCI by component:

Details about AOCI components	Amounts reclassified from AOCI			Affected line item in the Consolidated Statements of Income
(millions)
Three Months Ended March 31, 2015
Deferred (gains) and losses on derivatives-hedging activities:
Commodity contracts	$	92		Operating revenue
	5			Purchased gas
	(1		)	Electric fuel and other energy-related purchases
Interest rate contracts	2			Interest and related charges
	98
Tax	(39		)	Income tax expense
	$	59
Unrealized (gains) and losses on investment securities:
Realized (gain) loss on sale of securities	$	(39	)	Other income
Impairment	6			Other income
	(33		)
Tax	12			Income tax expense
	$	(21	)
Unrecognized pension and other postretirement benefit costs:
Prior service (credit) costs	$	(3	)	Other operations and maintenance
Actuarial (gains) losses	25			Other operations and maintenance
	22
Tax	(9		)	Income tax expense
	$	13

Three Months Ended March 31, 2014
Deferred (gains) and losses on derivatives-hedging activities:
Commodity contracts	$	269		Operating revenue
	1			Purchased gas
	(13		)	Electric fuel and other energy-related purchases
Interest rate contracts	3			Interest and related charges
	260
Tax	(100		)	Income tax expense
	$	160
Unrealized (gains) and losses on investment securities:
Realized (gain) loss on sale of securities	$	(20	)	Other income
Impairment	2			Other income
	(18		)
Tax	7			Income tax expense
	$	(11	)
Unrecognized pension and other postretirement benefit costs:
Prior service (credit) costs	$	(3	)	Other operations and maintenance
Actuarial (gains) losses	17			Other operations and maintenance
	14
Tax	(6		)	Income tax expense
	$	8

Dominion Gas Holdings, LLC

Accumulated Other Comprehensive Income (Loss) [Line Items]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents Dominion Gas’ changes in AOCI by component, net of tax:

	Deferred gains and losses on derivatives-hedging activities			Unrecognized pension and other postretirement benefit costs			Total
(millions)
Three Months Ended March 31, 2015
Beginning balance	$	(20	)	$	(66	)	$	(86	)
Other comprehensive income before reclassifications: gains (losses)	(4		)	—			(4		)
Amounts reclassified from AOCI(1): (gains) losses	—			1			1
Net current-period other comprehensive income (loss)	(4		)	1			(3		)
Ending balance	$	(24	)	$	(65	)	$	(89	)
Three Months Ended March 31, 2014
Beginning balance	$	3		$	(61	)	$	(58	)
Other comprehensive income before reclassifications: gains (losses)	(8		)	—			(8		)
Amounts reclassified from AOCI(1): (gains) losses	5			1			6
Net current-period other comprehensive income (loss)	(3		)	1			(2		)
Ending balance	$	—		$	(60	)	$	(60	)

(1) See table below for details about these reclassifications.

Reclassification out of Accumulated Other Comprehensive Income

The following table presents Dominion Gas' reclassifications out of AOCI by component:

Details about AOCI components	Amounts reclassified from AOCI			Affected line item in the Consolidated Statements of Income
(millions)
Three Months Ended March 31, 2015
Unrecognized pension and other postretirement benefit costs:
Actuarial (gains) losses	$	2		Other operations and maintenance
	2
Tax	(1		)	Income tax expense
	$	1
Three Months Ended March 31, 2014
Deferred (gains) and losses on derivatives-hedging activities:
Commodity contracts	$	6		Operating revenue
	2			Purchased gas
	8
Tax	(3		)	Income tax expense
	$	5
Unrecognized pension and other postretirement benefit costs:
Actuarial (gains) losses	$	2		Other operations and maintenance
	2
Tax	(1		)	Income tax expense
	$	1

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Employee Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2015

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Net Periodic Benefit Cost

The components of Dominion's provision for net periodic benefit cost (credit) were as follows:

	Pension Benefits						Other Postretirement Benefits
	2015			2014			2015			2014
(millions)
Three Months Ended March 31,
Service cost	$	32		$	29		$	10		$	8
Interest cost	72			72			17			17
Expected return on plan assets	(133		)	(125		)	(29		)	(28		)
Amortization of prior service cost (credit)	—			1			(7		)	(7		)
Amortization of net actuarial loss	40			28			1			—
Net periodic benefit cost (credit)	$	11		$	5		$	(8	)	$	(10	)

Dominion Gas Holdings, LLC

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Net Periodic Benefit Cost

The components of Dominion Gas' provision for net periodic benefit credit for employees represented by collective bargaining units were as follows:

	Pension Benefits						Other Postretirement Benefits
	2015			2014			2015			2014
(millions)
Three Months Ended March 31,
Service cost	$	3		$	3		$	2		$	1
Interest cost	7			7			3			3
Expected return on plan assets	(31		)	(29		)	(6		)	(5		)
Amortization of net actuarial loss	5			5			1			—
Net periodic benefit credit	$	(16	)	$	(14	)	$	—		$	(1	)

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Fair Value Measurements (Gains and Losses Included in Earnings in the Level 3 Fair Value Category) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) included in earnings	$ 15	$ 110
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets/liabilities still held at the reporting date	0	1
Operating revenue
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) included in earnings	2	(10)
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets/liabilities still held at the reporting date	0	1
Electric fuel and other energy-related purchases
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses) included in earnings	13	120
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets/liabilities still held at the reporting date	$ 0	$ 0

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Significant Financing Transactions - (Narrative) (Details) (USD $) Share data in Millions, unless otherwise specified	3 Months Ended		1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014 Agreement	Apr. 30, 2015
Debt Instrument [Line Items]
Issuance of common stock	$ 295,000,000	$ 0
Virginia Electric and Power Company
Debt Instrument [Line Items]
Number of joint revolving credit facilities	2
Credit facility	120,000,000
Virginia Electric and Power Company | Tax Exempt Debt
Debt Instrument [Line Items]
Variable rate tax-exempt financings	119,000,000
Dominion Gas Holdings, LLC
Debt Instrument [Line Items]
Number of joint revolving credit facilities	2
Shelf Registration for Sale of Common Stock through At-the-market Program
Debt Instrument [Line Items]
Number of sales agency agreements			4
Aggregate amount of common stock in which the company may offer under SEC shelf registration (up to $500 million)			500,000,000
Number of sales agents	2
Shares issued through at the market issuances	2,900,000
Issuance of common stock	219,000,000
Fees and commissions paid	2,000,000
Shelf Registration for Sale of Common Stock through At-the-market Program | Subsequent Event
Debt Instrument [Line Items]
Shares issued through at the market issuances				600,000
Issuance of common stock				43,000,000
Fees and commissions paid				$ 1,000,000
Common stock reserved for issuance in connection with stock purchase contracts				235

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Consolidated Statements of Income (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Operating Revenue	$ 3,409		$ 3,630
Operating Expenses
Electric fuel and other energy-related purchases	953		1,334
Purchased electric capacity	94		88
Purchased gas	250		540
Other operations and maintenance	602		425
Depreciation, depletion and amortization	343		308
Other taxes	165		167
Total operating expenses	2,407		2,862
Income from operations	1,002		768
Other income	60		40
Interest and related charges	223		237
Income from continuing operations including noncontrolling interests before income tax expense	839		571
Income tax expense	299		186
Net Income Including Noncontrolling Interests	540		385
Noncontrolling Interests	4		6
Net Income Attributable to Dominion	536		379
Earnings Per Common Share - Basic and Diluted
Net income attributable to Dominion (in dollars per share)	$ 0.91		$ 0.65
Dividends declared per common share (dollars per share)	$ 0.6475		$ 0.6000
Virginia Electric and Power Company
Operating Revenue	2,137	[1]	1,983	[1]
Operating Expenses
Electric fuel and other energy-related purchases	810	[1]	650	[1]
Purchased electric capacity	94		88
Affiliated suppliers	75		71
Other	321		270
Depreciation, depletion and amortization	238		218
Other taxes	74		73
Total operating expenses	1,612		1,370
Income from operations	525		613
Other income	15		15
Interest and related charges	108		107
Income from continuing operations including noncontrolling interests before income tax expense	432		521
Income tax expense	163		197
Net Income Attributable to Dominion	269		324
Preferred dividends	0		6
Balance available for common stock	269		318
Dominion Gas Holdings, LLC
Operating Revenue	531	[2]	569	[2]
Operating Expenses
Purchased gas	74	[2]	137	[2]
Other energy-related purchases	6		16
Affiliated suppliers	21		21
Other	53	[3]	32	[3]
Depreciation, depletion and amortization	51		47
Other taxes	55		51
Total operating expenses	260		304
Income from operations	271		265
Other income	9		8
Interest and related charges	17		6
Income from continuing operations including noncontrolling interests before income tax expense	263		267
Income tax expense	102		103
Net Income Attributable to Dominion	$ 161		$ 164

[1] See Note 17 for amounts attributable to affiliates.

[2] See Note 17 for amounts attributable to related parties.

[3] Includes gains on the sales of assets to related parties of $59 million in 2014. See Note 10 for more information.

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Income Taxes (Reconciliation of Income Taxes at the U.S. Statutory Federal Rate as Compared to the Income Tax Expense Recorded in Our Consolidated Statements of Income) (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating Loss Carryforwards [Line Items]
U.S. statutory rate	35.00%	35.00%
Increases (reductions) resulting from:
State taxes, net of federal benefit	2.90%	2.70%
Investment tax credits	(0.80%)	(3.60%)
Production tax credits	(0.80%)	(0.60%)
Other, net	(0.60%)	(0.80%)
Effective tax rate	35.70%	32.70%
Virginia Electric and Power Company
Operating Loss Carryforwards [Line Items]
U.S. statutory rate	35.00%	35.00%
Increases (reductions) resulting from:
State taxes, net of federal benefit	3.80%	3.80%
Investment tax credits	0.00%	0.00%
Production tax credits	(0.40%)	(0.80%)
Other, net	(0.70%)	(0.20%)
Effective tax rate	37.70%	37.80%
Dominion Gas Holdings, LLC
Operating Loss Carryforwards [Line Items]
U.S. statutory rate	35.00%	35.00%
Increases (reductions) resulting from:
State taxes, net of federal benefit	4.00%	3.40%
Investment tax credits	0.00%	0.00%
Production tax credits	0.00%	0.00%
Other, net	(0.10%)	0.30%
Effective tax rate	38.90%	38.70%

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Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 275		$ 318	[1]
Customer receivables (less allowance for doubtful accounts)	1,589		1,514	[1]
Other receivables (less allowance for doubtful accounts)	113		119	[1]
Inventories	1,227		1,410	[1]
Prepayments	163		167	[1]
Deferred income taxes	673		800	[1]
Regulatory assets	362	[2]	347	[2]
Other	1,013		1,287	[1]
Total current assets	5,053		5,615	[1]
Investments
Nuclear decommissioning trust funds	4,244		4,196	[1]
Investment in equity method affiliates	1,085		1,081	[1]
Other	288		284	[1]
Total investments	5,617		5,561	[1]
Property, Plant and Equipment
Property, plant and equipment	52,720		51,406	[1]
Accumulated depreciation, depletion and amortization	(15,494)		(15,136)	[1]
Total property, plant and equipment, net	37,226		36,270	[1]
Deferred Charges and Other Assets
Goodwill	3,294		3,044	[1]
Pension and other postretirement benefit assets	979		956	[1]
Regulatory assets	1,665		1,642	[1]
Other	1,322		1,239	[1]
Total deferred charges and other assets	7,260		6,881	[1]
Total assets	55,156		54,327	[1]
Current Liabilities
Securities due within one year	1,822		1,375	[1]
Short-term debt	3,200		2,775	[1]
Accounts payable	945		952	[1]
Derivative liabilities	600		591	[1]
Other	1,454		1,505	[1]
Total current liabilities	8,021		7,198	[1]
Long-Term Debt
Long-term debt	17,896		18,348	[1]
Junior subordinated notes	1,373		1,374	[1]
Remarketable subordinated notes	2,084		2,083	[1]
Total long-term debt	21,353		21,805	[1]
Deferred Credits and Other Liabilities
Deferred income taxes and investment tax credits	7,577		7,444	[1]
Asset retirement obligations	1,645		1,633	[1]
Regulatory liabilities	2,119		1,991	[1]
Other	2,025		2,299	[1]
Total deferred credits and other liabilities	13,366		13,367	[1]
Total liabilities	42,740		42,370	[1]
Commitments and Contingencies (see Note 15)				[1]
Equity
Common stock - no par	6,170	[3]	5,876	[1],[3]
Retained earnings	6,250		6,095	[1]
Accumulated other comprehensive loss	(409)		(416)	[1]
Total common shareholders' equity	12,011		11,555	[1]
Noncontrolling interests	405		402	[1]
Total equity	12,416		11,957	[1]
Total liabilities and equity	55,156		54,327	[1]
Virginia Electric and Power Company
Current Assets
Cash and cash equivalents	16		15	[4]
Customer receivables (less allowance for doubtful accounts)	1,018		986	[4]
Other receivables (less allowance for doubtful accounts)	53		65	[4]
Inventories	768		853	[4]
Prepayments	38		252	[4]
Regulatory assets	339		298	[4]
Other	32	[5]	82	[4],[5]
Total current assets	2,264		2,551	[4]
Investments
Nuclear decommissioning trust funds	1,950		1,930	[4]
Other	4		4	[4]
Total investments	1,954		1,934	[4]
Property, Plant and Equipment
Property, plant and equipment	35,684		35,180	[4]
Accumulated depreciation, depletion and amortization	(11,255)		(11,080)	[4]
Total property, plant and equipment, net	24,429		24,100	[4]
Deferred Charges and Other Assets
Regulatory assets	464		439	[4]
Other	525	[5]	485	[4],[5]
Total deferred charges and other assets	989		924	[4]
Total assets	29,636		29,509	[4]
Current Liabilities
Securities due within one year	661		211	[4]
Short-term debt	1,588		1,361	[4]
Accounts payable	456		458	[4]
Payables to affiliates	72		92	[4]
Affiliated current borrowings	10		427	[4]
Accrued interest, payroll and taxes	315		199	[4]
Other	505		528	[4]
Total current liabilities	3,607		3,276	[4]
Long-Term Debt
Total long-term debt	8,275		8,726	[4]
Deferred Credits and Other Liabilities
Deferred income taxes and investment tax credits	4,435		4,415	[4]
Asset retirement obligations	854		848	[4]
Regulatory liabilities	1,769		1,683	[4]
Other	523	[5]	506	[4],[5]
Total deferred credits and other liabilities	7,581		7,452	[4]
Total liabilities	19,463		19,454	[4]
Commitments and Contingencies (see Note 15)				[4]
Equity
Common stock - no par	5,738	[6]	5,738	[4],[6]
Other paid-in capital	1,113		1,113	[4]
Retained earnings	3,275		3,154	[4]
Accumulated other comprehensive loss	47		50	[4]
Total common shareholders' equity	10,173		10,055	[4]
Total liabilities and equity	29,636		29,509	[4]
Dominion Gas Holdings, LLC
Current Assets
Cash and cash equivalents	19		9	[7]
Customer receivables (less allowance for doubtful accounts)	350	[8]	322	[7],[8]
Other receivables (less allowance for doubtful accounts)	15		19	[7]
Affiliated receivables	5		12	[7]
Inventories	67		65	[7]
Prepayments	64		166	[7]
Regulatory assets	16	[2]	38	[2]
Other	198	[8]	217	[7],[8]
Total current assets	718		810	[7]
Investments
Investment in equity method affiliates	103		107
Total investments	104		108	[7]
Property, Plant and Equipment
Property, plant and equipment	8,993		8,902	[7]
Accumulated depreciation, depletion and amortization	(2,568)		(2,538)	[7]
Total property, plant and equipment, net	6,425		6,364	[7]
Deferred Charges and Other Assets
Goodwill	542		542	[7]
Intangible assets, net	83		79	[7]
Regulatory assets	390		379	[7]
Pension and other postretirement benefit assets	1,516	[8]	1,486	[7],[8]
Other	81	[8]	80	[7],[8]
Total deferred charges and other assets	2,612		2,566	[7]
Total assets	9,859		9,848	[7]
Current Liabilities
Short-term debt	280		0	[7]
Accounts payable	209		247	[7]
Payables to affiliates	40		41	[7]
Affiliated current borrowings	39		384	[7]
Accrued interest, payroll and taxes	243		194	[7]
Other	163	[8]	172	[7],[8]
Total current liabilities	974		1,038	[7]
Long-Term Debt
Total long-term debt	2,594		2,594	[7]
Deferred Credits and Other Liabilities
Deferred income taxes and investment tax credits	2,197		2,158	[7]
Regulatory liabilities	198	[9]	192	[9]
Other	465	[8]	492	[7],[8]
Total deferred credits and other liabilities	2,662		2,650	[7]
Total liabilities	6,230		6,282	[7]
Commitments and Contingencies (see Note 15)				[7]
Equity
Membership interests	3,718		3,652	[7]
Accumulated other comprehensive loss	(89)	[8]	(86)	[7],[8]
Total common shareholders' equity	3,629		3,566	[7]
Total liabilities and equity	$ 9,859		$ 9,848	[7]

[1] Dominion’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

[2] Current regulatory assets are presented in other current assets in Dominion's and Dominion Gas' Consolidated Balance Sheets.

[3] 1 billion shares authorized; 589 million shares and 585 million shares outstanding at March 31, 2015 and December 31, 2014, respectively.

[4] Virginia Power’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

[5] See Note 17 for amounts attributable to affiliates.

[6] 500,000 shares authorized; 274,723 shares outstanding at March 31, 2015 and December 31, 2014.

[7] Dominion Gas’ Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

[8] See Note 17 for amounts attributable to related parties.

[9] Noncurrent regulatory liabilities are presented in other deferred credits and other liabilities in Dominion Gas' Consolidated Balance Sheets.

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Derivatives and Hedge Accounting Activities (Fair Value of Derivatives) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	$ 679		$ 719
Total Fair Value, Liabilities	765		794
Current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	420	[1]	536	[1]
Current Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	407		523
Current Assets | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	13		13
Noncurrent Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	259	[2]	183	[2]
Noncurrent Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	254		172
Noncurrent Assets | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	5		11
Current Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	600		591
Current Liabilities | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	371		491
Current Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	229		100
Noncurrent Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	165	[3]	203	[3]
Noncurrent Liabilities | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	87		101
Noncurrent Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	78		102
Fair Value – Derivatives under Hedge Accounting
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	456		376
Total Fair Value, Liabilities	608		481
Fair Value – Derivatives under Hedge Accounting | Current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	311	[1]	294	[1]
Fair Value – Derivatives under Hedge Accounting | Current Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	298		281
Fair Value – Derivatives under Hedge Accounting | Current Assets | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	13		13
Fair Value – Derivatives under Hedge Accounting | Noncurrent Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	145	[2]	82	[2]
Fair Value – Derivatives under Hedge Accounting | Noncurrent Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	140		71
Fair Value – Derivatives under Hedge Accounting | Noncurrent Assets | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	5		11
Fair Value – Derivatives under Hedge Accounting | Current Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	482		324
Fair Value – Derivatives under Hedge Accounting | Current Liabilities | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	253		224
Fair Value – Derivatives under Hedge Accounting | Current Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	229		100
Fair Value – Derivatives under Hedge Accounting | Noncurrent Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	126	[3]	157	[3]
Fair Value – Derivatives under Hedge Accounting | Noncurrent Liabilities | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	48		55
Fair Value – Derivatives under Hedge Accounting | Noncurrent Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	78		102
Fair Value – Derivatives not under Hedge Accounting
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	223		343
Total Fair Value, Liabilities	157		313
Fair Value – Derivatives not under Hedge Accounting | Current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	109	[1]	242	[1]
Fair Value – Derivatives not under Hedge Accounting | Current Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	109		242
Fair Value – Derivatives not under Hedge Accounting | Current Assets | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	0		0
Fair Value – Derivatives not under Hedge Accounting | Noncurrent Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	114	[2]	101	[2]
Fair Value – Derivatives not under Hedge Accounting | Noncurrent Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	114		101
Fair Value – Derivatives not under Hedge Accounting | Noncurrent Assets | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	0		0
Fair Value – Derivatives not under Hedge Accounting | Current Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	118		267
Fair Value – Derivatives not under Hedge Accounting | Current Liabilities | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	118		267
Fair Value – Derivatives not under Hedge Accounting | Current Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	0		0
Fair Value – Derivatives not under Hedge Accounting | Noncurrent Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	39	[3]	46	[3]
Fair Value – Derivatives not under Hedge Accounting | Noncurrent Liabilities | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	39		46
Fair Value – Derivatives not under Hedge Accounting | Noncurrent Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	0		0
Virginia Electric and Power Company
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	106		113
Total Fair Value, Liabilities	139		87
Virginia Electric and Power Company | Current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	28	[4]	51	[4]
Virginia Electric and Power Company | Current Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	28		51
Virginia Electric and Power Company | Noncurrent Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	78	[5]	62	[5]
Virginia Electric and Power Company | Noncurrent Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	78		62
Virginia Electric and Power Company | Current Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	107	[6]	60	[6]
Virginia Electric and Power Company | Current Liabilities | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	11		15
Virginia Electric and Power Company | Current Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	96		45
Virginia Electric and Power Company | Noncurrent Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	32	[7]	27	[7]
Virginia Electric and Power Company | Noncurrent Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	32		27
Virginia Electric and Power Company | Fair Value – Derivatives under Hedge Accounting
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	0		0
Total Fair Value, Liabilities	129		75
Virginia Electric and Power Company | Fair Value – Derivatives under Hedge Accounting | Current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	0	[4]	0	[4]
Virginia Electric and Power Company | Fair Value – Derivatives under Hedge Accounting | Current Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	0		0
Virginia Electric and Power Company | Fair Value – Derivatives under Hedge Accounting | Noncurrent Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	0	[5]	0	[5]
Virginia Electric and Power Company | Fair Value – Derivatives under Hedge Accounting | Noncurrent Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	0		0
Virginia Electric and Power Company | Fair Value – Derivatives under Hedge Accounting | Current Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	97	[6]	48	[6]
Virginia Electric and Power Company | Fair Value – Derivatives under Hedge Accounting | Current Liabilities | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	1		3
Virginia Electric and Power Company | Fair Value – Derivatives under Hedge Accounting | Current Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	96		45
Virginia Electric and Power Company | Fair Value – Derivatives under Hedge Accounting | Noncurrent Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	32	[7]	27	[7]
Virginia Electric and Power Company | Fair Value – Derivatives under Hedge Accounting | Noncurrent Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	32		27
Virginia Electric and Power Company | Fair Value – Derivatives not under Hedge Accounting
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	106		113
Total Fair Value, Liabilities	10		12
Virginia Electric and Power Company | Fair Value – Derivatives not under Hedge Accounting | Current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	28	[4]	51	[4]
Virginia Electric and Power Company | Fair Value – Derivatives not under Hedge Accounting | Current Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	28		51
Virginia Electric and Power Company | Fair Value – Derivatives not under Hedge Accounting | Noncurrent Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	78	[5]	62	[5]
Virginia Electric and Power Company | Fair Value – Derivatives not under Hedge Accounting | Noncurrent Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	78		62
Virginia Electric and Power Company | Fair Value – Derivatives not under Hedge Accounting | Current Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	10	[6]	12	[6]
Virginia Electric and Power Company | Fair Value – Derivatives not under Hedge Accounting | Current Liabilities | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	10		12
Virginia Electric and Power Company | Fair Value – Derivatives not under Hedge Accounting | Current Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	0		0
Virginia Electric and Power Company | Fair Value – Derivatives not under Hedge Accounting | Noncurrent Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	0	[7]	0	[7]
Virginia Electric and Power Company | Fair Value – Derivatives not under Hedge Accounting | Noncurrent Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	0		0
Dominion Gas Holdings, LLC
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	3		2
Total Fair Value, Liabilities	16		9
Dominion Gas Holdings, LLC | Current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	3	[8]	2	[8]
Dominion Gas Holdings, LLC | Current Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	3		2
Dominion Gas Holdings, LLC | Current Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	3	[9]	9	[9]
Dominion Gas Holdings, LLC | Current Liabilities | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	3		9
Dominion Gas Holdings, LLC | Noncurrent Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	13	[10]
Dominion Gas Holdings, LLC | Noncurrent Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	13
Dominion Gas Holdings, LLC | Fair Value – Derivatives under Hedge Accounting
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	2		2
Total Fair Value, Liabilities	16		9
Dominion Gas Holdings, LLC | Fair Value – Derivatives under Hedge Accounting | Current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	2	[8]	2	[8]
Dominion Gas Holdings, LLC | Fair Value – Derivatives under Hedge Accounting | Current Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	2		2
Dominion Gas Holdings, LLC | Fair Value – Derivatives under Hedge Accounting | Current Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	3	[9]	9	[9]
Dominion Gas Holdings, LLC | Fair Value – Derivatives under Hedge Accounting | Current Liabilities | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	3		9
Dominion Gas Holdings, LLC | Fair Value – Derivatives under Hedge Accounting | Noncurrent Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	13	[10]
Dominion Gas Holdings, LLC | Fair Value – Derivatives under Hedge Accounting | Noncurrent Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	13
Dominion Gas Holdings, LLC | Fair Value – Derivatives not under Hedge Accounting
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	1		0
Total Fair Value, Liabilities	0		0
Dominion Gas Holdings, LLC | Fair Value – Derivatives not under Hedge Accounting | Current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	1	[8]	0	[8]
Dominion Gas Holdings, LLC | Fair Value – Derivatives not under Hedge Accounting | Current Assets | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Assets	1		0
Dominion Gas Holdings, LLC | Fair Value – Derivatives not under Hedge Accounting | Current Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	0	[9]	0	[9]
Dominion Gas Holdings, LLC | Fair Value – Derivatives not under Hedge Accounting | Current Liabilities | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	0		0
Dominion Gas Holdings, LLC | Fair Value – Derivatives not under Hedge Accounting | Noncurrent Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	0	[10]
Dominion Gas Holdings, LLC | Fair Value – Derivatives not under Hedge Accounting | Noncurrent Liabilities | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Total Fair Value, Liabilities	$ 0

[1] Current derivative assets are presented in other current assets in Dominion's Consolidated Balance Sheets.

[2] Noncurrent derivative assets are presented in other deferred charges and other assets in Dominion’s Consolidated Balance Sheets.

[3] Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Dominion’s Consolidated Balance Sheets.

[4] Current derivative assets are presented in other current assets in Virginia Power's Consolidated Balance Sheets.

[5] Noncurrent derivative assets are presented in other deferred charges and other assets in Virginia Power's Consolidated Balance Sheets.

[6] Current derivative liabilities are presented in other current liabilities in Virginia Power's Consolidated Balance Sheets.

[7] Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Virginia Power’s Consolidated Balance Sheets.

[8] Current derivative assets are presented in other current assets in Dominion Gas' Consolidated Balance Sheets.

[9] Current derivative liabilities are presented in other current liabilities in Dominion Gas' Consolidated Balance Sheets.

[10] Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Dominion Gas’ Consolidated Balance Sheets.

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Investments (Tables)

3 Months Ended

Mar. 31, 2015

Gain (Loss) on Investments [Line Items]

Available-For-Sale Securities

Dominion’s decommissioning trust funds are summarized below:

	Amortized Cost		Total  Unrealized Gains(1)		Total  Unrealized Losses(1)				Fair Value
(millions)
March 31, 2015
Marketable equity securities:
U.S. large cap	$	1,265	$	1,338	$	—			$	2,603
Marketable debt securities:
Corporate bonds	440		23		(1		)		462
U.S. Treasury securities and agency debentures	576		17		(1		)		592
State and municipal	356		24		—				380
Other	122		—		—				122
Cost method investments	77		—		—				77
Cash equivalents and other(2)	8		—		—				8
Total	$	2,844	$	1,402	$	(2	)	(3)	$	4,244
December 31, 2014
Marketable equity securities:
U.S. large cap	$	1,273	$	1,353	$	—			$	2,626
Marketable debt securities:
Corporate bonds	424		19		(2		)		441
U.S. Treasury securities and agency debentures	597		13		(4		)		606
State and municipal	332		23		—				355
Other	66		—		—				66
Cost method investments	86		—		—				86
Cash equivalents and other(2)	16		—		—				16
Total	$	2,794	$	1,408	$	(6	)	(3)	$	4,196

(1) Included in AOCI and the nuclear decommissioning trust regulatory liability.

(2) Includes pending sales of securities of $3 million at both March 31, 2015 and December 31, 2014.

(3) The fair value of securities in an unrealized loss position was $239 million and $379 million at March 31, 2015 and December 31, 2014, respectively.

Investments Classified by Contractual Maturity Date

The fair value of Dominion’s marketable debt securities held in nuclear decommissioning trust funds at March 31, 2015 by contractual maturity is as follows:

	Amount
(millions)
Due in one year or less	$	233
Due after one year through five years	383
Due after five years through ten years	435
Due after ten years	505
Total	$	1,556

Marketable Securities

Presented below is selected information regarding Dominion’s marketable equity and debt securities held in nuclear decommissioning trust funds.

	Three Months Ended March 31,
	2015		2014
(millions)
Proceeds from sales	$	337	$	442
Realized gains(1)	56		38
Realized losses(1)	17		6

(1) Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.

Virginia Electric and Power Company

Gain (Loss) on Investments [Line Items]

Available-For-Sale Securities

Virginia Power’s decommissioning trust funds are summarized below:

	Amortized Cost		Total  Unrealized Gains(1)		Total  Unrealized Losses(1)				Fair Value
(millions)
March 31, 2015
Marketable equity securities:
U.S. large cap	$	573	$	592	$	—			$	1,165
Marketable debt securities:
Corporate bonds	247		11		—				258
U.S. Treasury securities and agency debentures	190		3		(1		)		192
State and municipal	209		14		—				223
Other	31		—		—				31
Cost method investments	77		—		—				77
Cash equivalents and other(2)	4		—		—				4
Total	$	1,331	$	620	$	(1	)	(3)	$	1,950
December 31, 2014
Marketable equity securities:
U.S. large cap	$	563	$	594	$	—			$	1,157
Marketable debt securities:
Corporate bonds	242		9		(1		)		250
U.S. Treasury securities and agency debentures	197		3		(2		)		198
State and municipal	197		13		—				210
Other	23		—		—				23
Cost method investments	86		—		—				86
Cash equivalents and other(2)	6		—		—				6
Total	$	1,314	$	619	$	(3	)	(3)	$	1,930

(1) Included in AOCI and the nuclear decommissioning trust regulatory liability.

(2) Includes pending sales of securities of $4 million and $6 million at March 31, 2015 and December 31, 2014, respectively.

(3) The fair value of securities in an unrealized loss position was $120 million and $170 million at March 31, 2015 and December 31, 2014, respectively.

Investments Classified by Contractual Maturity Date

The fair value of Virginia Power’s marketable debt securities at March 31, 2015 by contractual maturity is as follows:

	Amount
(millions)
Due in one year or less	$	51
Due after one year through five years	168
Due after five years through ten years	245
Due after ten years	240
Total	$	704

Marketable Securities

Presented below is selected information regarding Virginia Power’s marketable equity and debt securities.

	Three Months Ended March 31,
	2015		2014
(millions)
Proceeds from sales	$	133	$	204
Realized gains(1)	18		19
Realized losses(1)	11		3

(1) Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.

Dominion Gas Holdings, LLC

Gain (Loss) on Investments [Line Items]

Equity Method Investments

Dominion Gas accounts for the following investment under the equity method of accounting:

Company	Ownership%		Investment Balance				Description
			March 31, 2015		December 31, 2014
(millions)
Iroquois	24.72	%	$	103	$	107	Gas transmission system
Total			$	103	$	107

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Investments (Selected Information Regarding Marketable Equity and Debt Securities) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Available-for-sale securities:
Proceeds from sales	$ 337		$ 442
Realized gains	56	[1]	38	[1]
Realized losses	17	[1]	6	[1]
Virginia Electric and Power Company
Available-for-sale securities:
Proceeds from sales	133		204
Realized gains	18	[1]	19	[1]
Realized losses	$ 11	[1]	$ 3	[1]

[1] Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.

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Significant Financing Transactions

3 Months Ended

Mar. 31, 2015

Securities Financing Transactions Disclosures [Abstract]

Significant Financing Transactions

Significant Financing Transactions

Credit Facilities and Short-term Debt

The Companies use short-term debt to fund working capital requirements and as a bridge to long-term debt financings. The levels of borrowing may vary significantly during the course of the year, depending upon the timing and amount of cash requirements not satisfied by cash from operations. In addition, Dominion utilizes cash and letters of credit to fund collateral requirements. Collateral requirements are impacted by commodity prices, hedging levels, Dominion’s credit ratings and the credit quality of its counterparties.

Dominion

At March 31, 2015, Dominion’s commercial paper and letters of credit outstanding, as well as its capacity available under credit facilities, were as follows:

	Facility Limit		Outstanding Commercial Paper		Outstanding Letters of Credit		Facility Capacity Available
(millions)
Joint revolving credit facility(1)	$	4,000	$	3,112	$	—	$	888
Joint revolving credit facility(2)	500		88		48		364
Total	$	4,500	$	3,200	$	48	$	1,252

(1) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $1.5 billion of letters of credit.

(2) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings, commercial paper and letter of credit issuances.

Virginia Power

Virginia Power’s short-term financing is supported by two joint revolving credit facilities with Dominion and Dominion Gas. These credit facilities are being used for working capital, as support for the combined commercial paper programs of the Companies and for other general corporate purposes.

At March 31, 2015, Virginia Power’s share of commercial paper and letters of credit outstanding, as well as its capacity available under its joint credit facilities with Dominion and Dominion Gas, were as follows:

	Facility Sub-limit		Outstanding Commercial Paper		Outstanding Letters of Credit		Facility Sub-limit Capacity Available
(millions)
Joint revolving credit facility(1)	$	1,500	$	1,500	$	—	$	—
Joint revolving credit facility(2)	250		88		—		162
Total	$	1,750	$	1,588	$	—	$	162

(1) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $1.5 billion (or the sub-limit, whichever is less) of letters of credit. Virginia Power's current sub-limit under this credit facility can be increased or decreased multiple times per year. In January 2015, Virginia Power increased its sub-limit from $1.25 billion to $1.50 billion.

(2) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings, commercial paper and letter of credit issuances. Virginia Power's current sub-limit under this credit facility can be increased or decreased multiple times per year.

In addition to the credit facility commitments mentioned above, Virginia Power also has a $120 million credit facility with a maturity date of April 2019. As of March 31, 2015, this facility supports approximately $119 million of certain variable rate tax-exempt financings of Virginia Power.

Dominion Gas

Dominion Gas’ short-term financing is supported by the two joint revolving credit facilities discussed above with Dominion and Virginia Power, to which Dominion Gas was added as a borrower in May 2014. In December 2014, Dominion Gas entered into a commercial paper program pursuant to which it began accessing the commercial paper markets in January 2015.

At March 31, 2015, Dominion Gas' share of commercial paper and letters of credit outstanding, as well as its capacity available under its joint credit facilities with Dominion and Virginia Power were as follows:

	Facility Sub-limit		Outstanding Commercial Paper		Outstanding Letters of Credit		Facility Sub-limit Capacity Available
(millions)
Joint revolving credit facility(1)	$	500	$	280	$	—	$	220
Joint revolving credit facility(2)	—		—		—		—
Total	$	500	$	280	$	—	$	220

(1) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $1.5 billion (or the sub-limit, whichever is less) of letters of credit. Dominion Gas' current sub-limit under this credit facility can be increased or decreased multiple times per year, up to a maximum of $1.0 billion.

(2) This credit facility has a maturity date of April 2019, and can be used to support bank borrowings, commercial paper and letter of credit issuances. Dominion Gas' current sub-limit under this credit facility can be increased or decreased multiple times per year.

Issuance of Common Stock

Dominion maintains Dominion Direct® and a number of employee savings plans through which contributions may be invested in Dominion’s common stock. These shares may either be newly issued or purchased on the open market with proceeds contributed to these plans. In January 2014, Dominion began purchasing its common stock on the open market for these plans. In April 2014, Dominion began issuing new common shares for these direct stock purchase plans.

In December 2014, Dominion filed an SEC shelf registration for the sale of debt and equity securities including the ability to sell common stock through an at-the-market program. Also in December 2014, Dominion entered into four separate sales agency agreements to effect sales under the program and pursuant to which it may offer from time to time up to $500 million aggregate amount of its common stock. Sales of common stock can be made by means of privately negotiated transactions, as transactions on the NYSE at market prices or in such other transactions as are agreed upon by Dominion and the sales agents and in conformance with applicable securities laws. During the first quarter of 2015, Dominion provided sales instructions to two of the sales agents and issued 2.9 million shares through at-the-market issuances and received cash proceeds of approximately $219 million, net of fees and commissions paid of approximately $2 million. In April 2015, Dominion issued approximately 600 thousand shares through at-the-market issuances and received cash proceeds of approximately $43 million, net of fees and commissions paid of less than $1 million. Following these issuances, Dominion has the ability to issue up to approximately $235 million of stock under the 2014 sales agency agreements.

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Regulatory Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2015

Regulatory Assets and Liabilities Disclosure [Abstract]

Schedule Of Regulatory Assets And Liabilities

Regulatory assets and liabilities include the following:

	March 31, 2015		December 31, 2014
(millions)
Dominion
Regulatory assets:
Deferred cost of fuel used in electric generation(1)	$	122	$	79

Deferred rate adjustment clause costs(2)	108		124
Deferred nuclear refueling outage costs(3)	57		44
Unrecovered gas costs(4)	16		36
Other	59		64
Regulatory assets-current(5)	362		347
Unrecognized pension and other postretirement benefit costs(6)	1,034		1,050
Deferred rate adjustment clause costs(2)	216		250
Derivatives(7)	150		101
Income taxes recoverable through future rates(8)	136		133
Other	129		108
Regulatory assets-non-current	1,665		1,642
Total regulatory assets	$	2,027	$	1,989
Regulatory liabilities:
PIPP(9)	$	63	$	71
Other	43		99
Regulatory liabilities-current(10)	106		170
Provision for future cost of removal and AROs(11)	1,100		1,072
Nuclear decommissioning trust(12)	822		815
Other	197		104
Regulatory liabilities-non-current	2,119		1,991
Total regulatory liabilities	$	2,225	$	2,161
Virginia Power
Regulatory assets:
Deferred cost of fuel used in electric generation(1)	$	122	$	79
Deferred rate adjustment clause costs(2)	106		117
Deferred nuclear refueling outage costs(3)	57		44
Other	54		58
Regulatory assets-current	339		298
Deferred rate adjustment clause costs(2)	141		179
Derivatives(7)	150		101
Income taxes recoverable through future rates(8)	103		100
Other	70		59
Regulatory assets-non-current	464		439
Total regulatory assets	$	803	$	737
Regulatory liabilities:
Other	$	23	$	90
Regulatory liabilities-current(10)	23		90
Provision for future cost of removal(11)	864		852
Nuclear decommissioning trust(12)	822		815
Other	83		16
Regulatory liabilities-non-current	1,769		1,683
Total regulatory liabilities	$	1,792	$	1,773
Dominion Gas
Regulatory assets:
Unrecovered gas costs(4)	$	13	$	29
Deferred rate adjustment clause costs(2)	2		7

Other	1		2
Regulatory assets-current(5)	16		38
Unrecognized pension and other postretirement benefit costs(6)	239		242
Deferred rate adjustment clause costs(2)	75		71
Income taxes recoverable through future rates(8)	24		24
Other	52		42
Regulatory assets-non-current	390		379
Total regulatory assets	$	406	$	417
Regulatory liabilities:
PIPP(9)	$	63	$	71
Other	16		4
Regulatory liabilities-current(10)	79		75
Provision for future cost of removal and AROs(11)	172		172
Other	26		20
Regulatory liabilities-non-current(13)	198		192
Total regulatory liabilities	$	277	$	267

(1) Primarily reflects deferred fuel expenses for the Virginia jurisdiction of Virginia Power's generation operations. See Note 12 for more information.

(2) Reflects deferrals under the electric transmission FERC formula rate and the deferral of costs associated with certain current and prospective rider projects for Virginia Power. Reflects deferrals of costs associated with certain current and prospective rider projects for Dominion Gas. See Note 12 for more information.

(3) Legislation enacted in Virginia in April 2014 requires Virginia Power to defer operation and maintenance costs incurred in connection with the refueling of any nuclear-powered generating plant. These deferred costs will be amortized over the refueling cycle, not to exceed 18 months.

(4) Reflects unrecovered gas costs at regulated gas operations, which are recovered through filings with the applicable regulatory authority.

(5) Current regulatory assets are presented in other current assets in Dominion's and Dominion Gas' Consolidated Balance Sheets.

(6) Represents unrecognized pension and other postretirement employee benefit costs expected to be recovered through future rates generally over the expected remaining service period of plan participants by certain of Dominion's and Dominion Gas' rate-regulated subsidiaries.

(7) For jurisdictions subject to cost-based rate regulation, changes in the fair value of derivative instruments result in the recognition of regulatory assets or regulatory liabilities as they are expected to be recovered from or refunded to customers.

(8) Amounts to be recovered through future rates to pay income taxes that become payable when rate revenue is provided to recover AFUDC-equity and depreciation of property, plant and equipment for which deferred income taxes were not recognized for ratemaking purposes, including amounts attributable to tax rate changes.

(9) Under PIPP, eligible customers can make reduced payments based on their ability to pay. The difference between the customer's total bill and the PIPP plan amount is deferred and collected or returned annually under the PIPP rider according to East Ohio tariff provisions.

(10) Current regulatory liabilities are presented in other current liabilities in the Companies' Consolidated Balance Sheets.

(11) Rates charged to customers by the Companies' regulated businesses include a provision for the cost of future activities to remove assets that are expected to be incurred at the time of retirement.

(12) Primarily reflects a regulatory liability representing amounts collected from Virginia jurisdictional customers and placed in external trusts (including income, losses and changes in fair value thereon) for the future decommissioning of Virginia Power's utility nuclear generation stations, in excess of the related AROs.

(13) Noncurrent regulatory liabilities are presented in other deferred credits and other liabilities in Dominion Gas' Consolidated Balance Sheets.

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Credit Risk

3 Months Ended

Mar. 31, 2015

Risks and Uncertainties [Abstract]

Credit Risk

Credit Risk

The Companies' accounting policies for credit risk are discussed in Note 23 to the Consolidated Financial Statements in the Companies' Annual Report on Form 10-K for the year ended December 31, 2014.

At March 31, 2015, Dominion's credit exposure totaled $356 million. Of this amount, investment grade counterparties, including those internally rated, represented 89%. No single counterparty, whether investment grade or non-investment grade, exceeded $46 million of exposure.

Credit-Related Contingent Provisions

The majority of Dominion's derivative instruments contain credit-related contingent provisions. These provisions require Dominion to provide collateral upon the occurrence of specific events, primarily a credit rating downgrade. If the credit-related contingent features underlying these instruments that are in a liability position and not fully collateralized with cash were fully triggered as of March 31, 2015 and December 31, 2014, Dominion would have been required to post an additional $16 million and $20 million, respectively, of collateral to its counterparties. The collateral that would be required to be posted includes the impacts of any offsetting asset positions and any amounts already posted for derivatives, non-derivative contracts and derivatives elected under the normal purchases and normal sales exception, per contractual terms. Dominion had posted approximately $96 million and $1 million in collateral at March 31, 2015 and December 31, 2014, respectively, related to derivatives with credit-related contingent provisions that are in a liability position and not fully collateralized with cash. The collateral posted includes any amounts paid related to non-derivative contracts and derivatives elected under the normal purchases and normal sales exception, per contractual terms. The aggregate fair value of all derivative instruments with credit-related contingent provisions that are in a liability position and not fully collateralized with cash as of March 31, 2015 and December 31, 2014 was $40 million and $49 million, respectively, which does not include the impact of any offsetting asset positions. Credit-related contingent provisions for Virginia Power and Dominion Gas were not material as of March 31, 2015 and December 31, 2014. See Note 9 for further information about derivative instruments.

Dominion Gas

In the first quarter of 2015, DTI provided service to 248 customers with approximately 94% of its storage and transportation revenue being provided through firm services. The ten largest customers provided approximately 42% of the total storage and transportation revenue of approximately $201 million and the thirty largest provided approximately 73% of total storage and transportation revenue. Approximately 98% of the transmission capacity under contract on DTI’s pipeline is subscribed with long-term contracts (two years or greater). The remaining 2% is contracted on a year-to-year basis. Less than 1% of firm transportation capacity is currently unsubscribed. All storage services are subscribed under long-term contracts.

East Ohio distributes natural gas to residential, commercial and industrial customers in Ohio using rates established by the Ohio Commission. Approximately 99% of East Ohio revenues are derived from its jurisdictional gas services. East Ohio’s bad debt risk is mitigated by the regulatory framework established by the Ohio Commission.

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Regulatory Assets and Liabilities (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015
Public Utilities, General Disclosures [Line Items]
Regulatory assets past expenditures not earning return	$ 129
Period for which expenditures are expected to be recovered	2 years
Virginia Electric and Power Company
Public Utilities, General Disclosures [Line Items]
Regulatory assets past expenditures not earning return	97
Dominion Gas Holdings, LLC
Public Utilities, General Disclosures [Line Items]
Regulatory assets past expenditures not earning return	$ 30

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Consolidated Balance Sheets (Parenthetical) (USD $) In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Customer receivables, allowance for doubtful accounts	$ 34	$ 34
Other receivables, allowance for doubtful accounts	2	3
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares outstanding	589,000,000	585,000,000
Virginia Electric and Power Company
Customer receivables, allowance for doubtful accounts	25	25
Other receivables, allowance for doubtful accounts	1	1
Common stock, shares authorized	500,000	500,000
Common stock, shares outstanding	274,723	274,723
Dominion Gas Holdings, LLC
Customer receivables, allowance for doubtful accounts	4	4
Other receivables, allowance for doubtful accounts	$ 1	$ 1

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Consolidated Statements of Income (Parenthetical) (Dominion Gas Holdings, LLC, Affiliated Entity, USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Dominion Gas Holdings, LLC | Affiliated Entity
Gain on sale of assets	$ 59

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Derivatives and Hedge Accounting Activities

3 Months Ended

Mar. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedge Accounting Activities

Derivatives and Hedge Accounting Activities

The Companies' accounting policies and objectives and strategies for using derivative instruments are discussed in Note 2 to the Consolidated Financial Statements in the Companies' Annual Report on Form 10-K for the year ended December 31, 2014. See Note 8 in this report for further information about fair value measurements and associated valuation methods for derivatives.

Derivative assets and liabilities are presented gross on the Companies' Consolidated Balance Sheets. Dominion's derivative contracts include both over-the-counter transactions and those that are executed on an exchange or other trading platform (exchange contracts) and centrally cleared. Dominion Gas' and Virginia Power's derivative contracts consist of over-the-counter transactions. Over-the-counter contracts are bilateral contracts that are transacted directly with a counterparty. Exchange contracts utilize a financial intermediary, exchange, or clearinghouse to enter, execute, or clear the transactions. Certain over-the-counter and exchange contracts contain contractual rights of setoff through master netting arrangements, derivative clearing agreements, and contract default provisions. In addition, the contracts are subject to conditional rights of setoff through counterparty nonperformance, insolvency, or other conditions.

In general, most over-the-counter transactions and all exchange contracts are subject to collateral requirements. Types of collateral for over-the-counter and exchange contracts include cash, letters of credit, and in some cases other forms of security, none of which are subject to restrictions. Cash collateral is used in the table below to offset derivative assets and liabilities. Certain accounts receivable and accounts payable recognized on the Companies' Consolidated Balance Sheets, as well as letters of credit and other forms of security, all of which are not included in the tables below, are subject to offset under master netting or similar arrangements and would reduce the net exposure.

Dominion

Balance Sheet Presentation

The tables below present Dominion's derivative asset and liability balances by type of financial instrument, before and after the effects of offsetting:

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	18	$	—	$	18	$	24	$	—	$	24
Commodity contracts:
Over-the-counter	323		—		323		382		—		382
Exchange	326		—		326		298		—		298
Total derivatives, subject to a master netting or similar arrangement	667		—		667		704		—		704
Total derivatives, not subject to a master netting or similar arrangement	12		—		12		15		—		15
Total	$	679	$	—	$	679	$	719	$	—	$	719

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	18	$	18	$	—	$	—	$	24	$	16	$	—	$	8
Commodity contracts:
Over-the-counter	323		45		—		278		382		34		34		314
Exchange	326		326		—		—		298		298		—		—
Total	$	667	$	389	$	—	$	278	$	704	$	348	$	34	$	322

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	307	$	—	$	307	$	202	$	—	$	202
Commodity contracts:
Over-the-counter	83		—		83		87		—		87
Exchange	364		—		364		493		—		493
Total derivatives, subject to a master netting or similar arrangement	754		—		754		782		—		782
Total derivatives, not subject to a master netting or similar arrangement	11		—		11		12		—		12
Total	$	765	$	—	$	765	$	794	$	—	$	794

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	307	$	18	$	—	$	289	$	202	$	16	$	—	$	186
Commodity contracts:
Over-the-counter	83		45		—		38		87		34		1		52
Exchange	364		326		38		—		493		298		195		—
Total	$	754	$	389	$	38	$	327	$	782	$	348	$	196	$	238

Volumes

The following table presents the volume of Dominion’s derivative activity as of March 31, 2015. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of their long and short positions.

	Current		Noncurrent
Natural Gas (bcf):
Fixed price(1)	55		10
Basis	224		558
Electricity (MWh):
Fixed price	13,610,507		7,505,325
FTRs	14,994,541		—
Capacity (MW)	15,250		3,050
Liquids (Gal)(2)	77,280,000		2,016,000
Interest rate	$	2,550,000,000	$	4,000,000,000

(1) Includes options.

(2) Includes NGLs and oil.

Ineffectiveness and AOCI

For the three months ended March 31, 2015 and 2014, gains or losses on hedging instruments determined to be ineffective and amounts excluded from the assessment of effectiveness were not material. Amounts excluded from the assessment of effectiveness include gains or losses attributable to changes in the time value of options and changes in the differences between spot prices and forward prices.

The following table presents selected information related to gains (losses) on cash flow hedges included in AOCI in Dominion’s Consolidated Balance Sheet at March 31, 2015:

	AOCI After-Tax			Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax			Maximum Term
(millions)
Commodities:
Gas	$	(5	)	$	(5	)	25 months
Electricity	89			32			21 months
Other	—			(1		)	14 months
Interest rate	(261		)	(6		)	393 months
Total	$	(177	)	$	20

The amounts that will be reclassified from AOCI to earnings will generally be offset by the recognition of the hedged transactions (e.g., anticipated sales) in earnings, thereby achieving the realization of prices contemplated by the underlying risk management strategies and will vary from the expected amounts presented above as a result of changes in market prices and interest rates.

Fair Value and Gains and Losses on Derivative Instruments

The following table presents the fair values of Dominion’s derivatives and where they are presented in its Consolidated Balance Sheets:

	Fair Value – Derivatives under Hedge  Accounting		Fair Value – Derivatives not under Hedge  Accounting		Total Fair Value
(millions)
At March 31, 2015
ASSETS
Current Assets
Commodity	$	298	$	109	$	407
Interest rate	13		—		13
Total current derivative assets(1)	311		109		420
Noncurrent Assets
Commodity	140		114		254
Interest rate	5		—		5
Total noncurrent derivative assets(2)	145		114		259
Total derivative assets	$	456	$	223	$	679
LIABILITIES
Current Liabilities
Commodity	$	253	$	118	$	371
Interest rate	229		—		229
Total current derivative liabilities	482		118		600
Noncurrent Liabilities
Commodity	48		39		87
Interest Rate	78		—		78
Total noncurrent derivative liabilities(3)	126		39		165
Total derivative liabilities	$	608	$	157	$	765
At December 31, 2014
ASSETS
Current Assets
Commodity	$	281	$	242	$	523
Interest rate	13		—		13
Total current derivative assets(1)	294		242		536
Noncurrent Assets
Commodity	71		101		172
Interest rate	11		—		11
Total noncurrent derivative assets(2)	82		101		183
Total derivative assets	$	376	$	343	$	719
LIABILITIES
Current Liabilities
Commodity	$	224	$	267	$	491
Interest rate	100		—		100
Total current derivative liabilities	324		267		591
Noncurrent Liabilities
Commodity	55		46		101
Interest rate	102		—		102
Total noncurrent derivative liabilities(3)	157		46		203
Total derivative liabilities	$	481	$	313	$	794

(1) Current derivative assets are presented in other current assets in Dominion's Consolidated Balance Sheets.     

(2) Noncurrent derivative assets are presented in other deferred charges and other assets in Dominion’s Consolidated Balance Sheets.

(3) Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Dominion’s Consolidated Balance Sheets.

The following tables present the gains and losses on Dominion's derivatives, as well as where the associated activity is presented in its Consolidated Balance Sheets and Statements of Income:

Derivatives in cash flow hedging relationships	Amount of Gain (Loss)  Recognized in AOCI  on Derivatives (Effective Portion)(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)
(millions)
Three Months Ended March 31, 2015
Derivative Type and Location of Gains (Losses)
Commodity:
Operating revenue				$	(92	)
Purchased gas				(5		)
Electric fuel and other energy-related purchases				1
Total commodity	$	(41	)	$	(96	)	$	3
Interest rate(3)	(58		)	(2		)	(49		)
Total	$	(99	)	$	(98	)	$	(46	)
Three Months Ended March 31, 2014
Derivative Type and Location of Gains (Losses)
Commodity:
Operating revenue				$	(269	)
Purchased gas				(1		)
Electric fuel and other energy-related purchases				13
Total commodity	$	(183	)	$	(257	)	$	2
Interest rate(3)	(47		)	(3		)	(23		)
Total	$	(230	)	$	(260	)	$	(21	)

(1) Amounts deferred into AOCI have no associated effect in Dominion’s Consolidated Statements of Income.

(2) Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Dominion’s Consolidated Statements of Income.

(3) Amounts recorded in Dominion’s Consolidated Statements of Income are classified in interest and related charges.

	Amount of Gain (Loss) Recognized in Income on Derivatives(1)
	Three Months Ended March 31,
Derivatives not designated as hedging instruments	2015			2014
(millions)
Derivative Type and Location of Gains (Losses)
Commodity
Operating revenue	$	3		$	(361	)
Purchased gas	(2		)	7
Electric fuel and other energy-related purchases	6			133
Total	$	7		$	(221	)

(1) Includes derivative activity amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Dominion’s Consolidated Statements of Income.

Virginia Power

Balance Sheet Presentation

The tables below present Virginia Power's derivative asset and liability balances by type of financial instrument, before and after the effects of offsetting:

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet
(millions)
Commodity contracts:
Over-the-counter	$	82	$	—	$	82	$	106	$	—	$	106
Total derivatives, subject to a master netting or similar arrangement	82		—		82		106		—		106
Total derivatives, not subject to a master netting or similar arrangement	24		—		24		7		—		7
Total	$	106	$	—	$	106	$	113	$	—	$	113

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
Commodity contracts:
Over-the-counter	$	82	$	4	$	—	$	78	$	106	$	4	$	—	$	102
Total	$	82	$	4	$	—	$	78	$	106	$	4	$	—	$	102

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	128	$	—	$	128	$	72	$	—	$	72
Commodity contracts:
Over-the-counter	5		—		5		8		—		8
Total derivatives, subject to a master netting or similar arrangement	133		—		133		80		—		80
Total derivatives, not subject to a master netting or similar arrangement	6		—		6		7		—		7
Total	$	139	$	—	$	139	$	87	$	—	$	87

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	128	$	—	$	—	$	128	$	72	$	—	$	—	$	72
Commodity contracts:
Over-the-counter	5		4		—		1		8		4		—		4
Total	$	133	$	4	$	—	$	129	$	80	$	4	$	—	$	76

Volumes

The following table presents the volume of Virginia Power’s derivative activity as of March 31, 2015. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of their long and short positions.

	Current		Noncurrent
Natural Gas (bcf):
Fixed price(1)	12		—
Basis	84		493
Electricity (MWh):
FTRs	13,486,569		—
Capacity (MW)	15,250		3,050
Interest rate	$	1,000,000,000	$	750,000,000

(1) Includes options.

Ineffectiveness

For the three months ended March 31, 2015 and 2014, gains or losses on hedging instruments determined to be ineffective were not material.

Fair Value and Gains and Losses on Derivative Instruments

The following table presents the fair values of Virginia Power’s derivatives and where they are presented in its Consolidated

Balance Sheets:

	Fair Value – Derivatives under Hedge  Accounting		Fair Value – Derivatives not under Hedge  Accounting		Total Fair Value
(millions)
At March 31, 2015
ASSETS
Current Assets
Commodity	$	—	$	28	$	28
Total current derivative assets(1)	—		28		28
Noncurrent Assets
Commodity	—		78		78
Total noncurrent derivative assets(2)	—		78		78
Total derivative assets	$	—	$	106	$	106
LIABILITIES
Current Liabilities
Commodity	$	1	$	10	$	11
Interest rate	96		—		96
Total current derivative liabilities(3)	97		10		107
Noncurrent Liabilities
Interest rate	32		—		32
Total noncurrent derivatives liabilities (4)	32		—		32
Total derivative liabilities	$	129	$	10	$	139
December 31, 2014
ASSETS
Current Assets
Commodity	$	—	$	51	$	51
Total current derivative assets(1)	—		51		51
Noncurrent Assets
Commodity	—		62		62
Total noncurrent derivative assets(2)	—		62		62
Total derivative assets	$	—	$	113	$	113
LIABILITIES
Current Liabilities
Commodity	$	3	$	12	$	15
Interest rate	45		—		45
Total current derivative liabilities(3)	48		12		60
Noncurrent Liabilities
Interest rate	27		—		27
Total noncurrent derivative liabilities(4)	27		—		27
Total derivative liabilities	$	75	$	12	$	87

(1) Current derivative assets are presented in other current assets in Virginia Power's Consolidated Balance Sheets.

(2) Noncurrent derivative assets are presented in other deferred charges and other assets in Virginia Power's Consolidated Balance Sheets.

(3) Current derivative liabilities are presented in other current liabilities in Virginia Power's Consolidated Balance Sheets.

(4) Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Virginia Power’s Consolidated Balance Sheets.

The following tables present the gains and losses on Virginia Power's derivatives, as well as where the associated activity is presented in its Consolidated Balance Sheets and Statements of Income:

Derivatives in cash flow hedging relationships	Amount of Gain (Loss)  Recognized in AOCI  on Derivatives (Effective Portion)(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)
(millions)
Three Months Ended March 31, 2015
Derivative Type and Location of Gains (Losses)
Commodity:
Electric fuel and other energy-related purchases				$	(1	)
Total commodity	$	—		$	(1	)	$	3
Interest rate(3)	(6		)	—			(49		)
Total	$	(6	)	$	(1	)	$	(46	)
Three Months Ended March 31, 2014
Derivative Type and Location of Gains (Losses)
Commodity:
Electric fuel and other energy-related purchases				$	5
Total commodity	$	6		$	5		$	2
Interest rate(3)	(3		)	—			(23		)
Total	$	3		$	5		$	(21	)

(1) Amounts deferred into AOCI have no associated effect in Virginia Power’s Consolidated Statements of Income.

(2) Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Virginia Power’s Consolidated Statements of Income.

(3) Amounts recorded in Virginia Power’s Consolidated Statements of Income are classified in interest and related charges.

	Amount of Gain (Loss) Recognized in Income on Derivatives(1)
	Three Months Ended March 31,
Derivatives not designated as hedging instruments	2015		2014
(millions)
Derivative Type and Location of Gains (Losses)
Commodity(2)	$	7	$	119
Total	$	7	$	119

(1) Includes derivative activity amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Virginia Power’s Consolidated Statements of Income.

(2) Amounts recorded in Virginia Power's Consolidated Statements of Income are classified in electric fuel and other energy-related purchases.

Dominion Gas

Balance Sheet Presentation

The tables below present Dominion Gas' derivative asset and liability balances by type of financial instrument, before and after the effects of offsetting.

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet
(millions)
Commodity contracts:
Over-the-counter	$	3	$	—	$	3	$	2	$	—	$	2
Total derivatives, subject to a master netting or similar arrangement	$	3	$	—	$	3	$	2	$	—	$	2

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
Commodity contracts:
Over-the-counter	$	3	$	3	$	—	$	—	$	2	$	—	$	—	$	2
Total	$	3	$	3	$	—	$	—	$	2	$	—	$	—	$	2

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	13	$	—	$	13	$	9	$	—	$	9
Commodity contracts:
Over-the-counter	3		—		3		—		—		—
Total derivatives, subject to a master netting or similar arrangement	$	16	$	—	$	16	$	9	$	—	$	9

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	13	$	—	$	—	$	13	$	9	$	—	$	—	$	9
Commodity contracts:
Over-the-counter	3		3		—		—		—		—		—		—
Total	$	16	$	3	$	—	$	13	$	9	$	—	$	—	$	9

Volumes

The following table presents the volume of Dominion Gas' derivative activity as of March 31, 2015. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of their long and short positions.

	Current		Noncurrent
Natural Gas (bcf):
Fixed price	7		—
Basis	8		—
NGLs (Gal)	72,912,000		—
Interest rate	$	—	$	250,000,000

Ineffectiveness and AOCI

For the three months ended March 31, 2015 and 2014, gains or losses on hedging instruments determined to be ineffective were not material.

The following table presents selected information related to losses on cash flow hedges included in AOCI in Dominion Gas' Consolidated Balance Sheet at March 31, 2015:

	AOCI After-Tax			Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax		Maximum Term
(millions)
Commodities:
NGLs	$	(1	)	$	—	12 months
Interest rate	(23		)	—		357 months
Total	$	(24	)	$	—

The amounts that will be reclassified from AOCI to earnings will generally be offset by the recognition of the hedged transactions (e.g., anticipated sales) in earnings, thereby achieving the realization of prices contemplated by the underlying risk management strategies and will vary from the expected amounts presented above as a result of changes in market prices and interest rates.

Fair Value and Gains and Losses on Derivative Instruments

The following tables present the fair values of Dominion Gas' commodity and interest rate derivatives and where they are presented in its Consolidated Balance Sheets:

	Fair Value  - Derivatives under Hedge Accounting		Fair Value - Derivatives not under Hedge Accounting		Total Fair Value
(millions)
At March 31, 2015
ASSETS
Current Assets
Commodity	$	2	$	1	$	3
Total current derivative assets(1)	2		1		3
Total derivative assets	$	2	$	1	$	3
LIABILITIES
Current Liabilities
Commodity	$	3	$	—	$	3
Total current derivative liabilities(2)	3		—		3
Noncurrent Liabilities
Interest rate	13		—		13
Total noncurrent derivative liabilities(3)	13		—		13
Total derivative liabilities	$	16	$	—	$	16
At December 31, 2014
ASSETS
Current Assets
Commodity	$	2	$	—	$	2
Total current derivative assets(1)	2		—		2
Total derivative assets	$	2	$	—	$	2
LIABILITIES
Noncurrent Liabilities
Interest rate	$	9	$	—	$	9
Total noncurrent derivative liabilities(3)	9		—		9
Total derivative liabilities	$	9	$	—	$	9

(1) Current derivative assets are presented in other current assets in Dominion Gas' Consolidated Balance Sheets.

(2) Current derivative liabilities are presented in other current liabilities in Dominion Gas' Consolidated Balance Sheets.

(3) Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Dominion Gas’ Consolidated Balance Sheets.

The following table presents the gains and losses on Dominion Gas' derivatives, as well as where the associated activity is presented in its Consolidated Balance Sheets and Statements of Income:

Derivatives in cash flow hedging relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)(1)			Amount of Gain (Loss) Reclassified from AOCI to Income
(millions)
Three Months Ended March 31, 2015
Derivative Type and Location of Gains (Losses)
Commodity
Operating revenue				$	—
Total commodity	$	(2	)	$	—
Interest rate(2)	(4		)	—
Total	$	(6	)	$	—
Three Months Ended March 31, 2014
Derivative Type and Location of Gains (Losses)
Commodity
Operating revenue				$	(6	)
Purchased gas				(2		)
Total commodity	$	1		$	(8	)
Interest rate(2)	(14		)	—
Total	$	(13	)	$	(8	)

(1) Amounts deferred into AOCI have no associated effect in Dominion Gas' Consolidated Statements of Income.

(2) Amounts recorded in Dominion Gas' Consolidated Statements of Income are classified in interest and related charges.

XML

Document and Entity Information	3 Months Ended
	Mar. 31, 2015
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	D
Entity Registrant Name	DOMINION RESOURCES INC /VA/
Entity Central Index Key	0000715957
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	589,330,633
Virginia Electric and Power Company
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	VEL - PE
Entity Registrant Name	VIRGINIA ELECTRIC & POWER CO
Entity Central Index Key	0000103682
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	274,723
Dominion Gas Holdings, LLC
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Registrant Name	Dominion Gas Holdings, LLC
Entity Central Index Key	0001603291
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	0

XML

Investments

3 Months Ended

Mar. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

Dominion

Equity and Debt Securities

Rabbi Trust Securities

Marketable equity and debt securities and cash equivalents held in Dominion’s rabbi trusts and classified as trading totaled $116 million and $110 million at March 31, 2015 and December 31, 2014, respectively. Cost method investments held in Dominion’s rabbi trusts totaled $6 million at both March 31, 2015 and December 31, 2014.

Decommissioning Trust Securities

Dominion holds marketable equity and debt securities (classified as available-for-sale), cash equivalents and cost method investments in nuclear decommissioning trust funds to fund future decommissioning costs for its nuclear plants. Dominion’s decommissioning trust funds are summarized below:

	Amortized Cost		Total  Unrealized Gains(1)		Total  Unrealized Losses(1)				Fair Value
(millions)
March 31, 2015
Marketable equity securities:
U.S. large cap	$	1,265	$	1,338	$	—			$	2,603
Marketable debt securities:
Corporate bonds	440		23		(1		)		462
U.S. Treasury securities and agency debentures	576		17		(1		)		592
State and municipal	356		24		—				380
Other	122		—		—				122
Cost method investments	77		—		—				77
Cash equivalents and other(2)	8		—		—				8
Total	$	2,844	$	1,402	$	(2	)	(3)	$	4,244
December 31, 2014
Marketable equity securities:
U.S. large cap	$	1,273	$	1,353	$	—			$	2,626
Marketable debt securities:
Corporate bonds	424		19		(2		)		441
U.S. Treasury securities and agency debentures	597		13		(4		)		606
State and municipal	332		23		—				355
Other	66		—		—				66
Cost method investments	86		—		—				86
Cash equivalents and other(2)	16		—		—				16
Total	$	2,794	$	1,408	$	(6	)	(3)	$	4,196

(1) Included in AOCI and the nuclear decommissioning trust regulatory liability.

(2) Includes pending sales of securities of $3 million at both March 31, 2015 and December 31, 2014.

(3) The fair value of securities in an unrealized loss position was $239 million and $379 million at March 31, 2015 and December 31, 2014, respectively.

The fair value of Dominion’s marketable debt securities held in nuclear decommissioning trust funds at March 31, 2015 by contractual maturity is as follows:

	Amount
(millions)
Due in one year or less	$	233
Due after one year through five years	383
Due after five years through ten years	435
Due after ten years	505
Total	$	1,556

Presented below is selected information regarding Dominion’s marketable equity and debt securities held in nuclear decommissioning trust funds.

	Three Months Ended March 31,
	2015		2014
(millions)
Proceeds from sales	$	337	$	442
Realized gains(1)	56		38
Realized losses(1)	17		6

(1) Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.

Other-than-temporary impairment losses on investments held in nuclear decommissioning trust funds for Dominion were not material for the three months ended March 31, 2015 and 2014.

Virginia Power

Virginia Power holds marketable equity and debt securities (classified as available-for-sale), cash equivalents and cost method investments in nuclear decommissioning trust funds to fund future decommissioning costs for its nuclear plants. Virginia Power’s decommissioning trust funds are summarized below:

	Amortized Cost		Total  Unrealized Gains(1)		Total  Unrealized Losses(1)				Fair Value
(millions)
March 31, 2015
Marketable equity securities:
U.S. large cap	$	573	$	592	$	—			$	1,165
Marketable debt securities:
Corporate bonds	247		11		—				258
U.S. Treasury securities and agency debentures	190		3		(1		)		192
State and municipal	209		14		—				223
Other	31		—		—				31
Cost method investments	77		—		—				77
Cash equivalents and other(2)	4		—		—				4
Total	$	1,331	$	620	$	(1	)	(3)	$	1,950
December 31, 2014
Marketable equity securities:
U.S. large cap	$	563	$	594	$	—			$	1,157
Marketable debt securities:
Corporate bonds	242		9		(1		)		250
U.S. Treasury securities and agency debentures	197		3		(2		)		198
State and municipal	197		13		—				210
Other	23		—		—				23
Cost method investments	86		—		—				86
Cash equivalents and other(2)	6		—		—				6
Total	$	1,314	$	619	$	(3	)	(3)	$	1,930

(1) Included in AOCI and the nuclear decommissioning trust regulatory liability.

(2) Includes pending sales of securities of $4 million and $6 million at March 31, 2015 and December 31, 2014, respectively.

(3) The fair value of securities in an unrealized loss position was $120 million and $170 million at March 31, 2015 and December 31, 2014, respectively.

The fair value of Virginia Power’s marketable debt securities at March 31, 2015 by contractual maturity is as follows:

	Amount
(millions)
Due in one year or less	$	51
Due after one year through five years	168
Due after five years through ten years	245
Due after ten years	240
Total	$	704

Presented below is selected information regarding Virginia Power’s marketable equity and debt securities.

	Three Months Ended March 31,
	2015		2014
(millions)
Proceeds from sales	$	133	$	204
Realized gains(1)	18		19
Realized losses(1)	11		3

(1) Includes realized gains and losses recorded to the nuclear decommissioning trust regulatory liability.

Other-than-temporary impairment losses on investments held in nuclear decommissioning trust funds for Virginia Power were not material for the three months ended March 31, 2015 and 2014.

Equity Method Investments

Dominion Gas

Dominion Gas accounts for the following investment under the equity method of accounting:

Company	Ownership%		Investment Balance				Description
			March 31, 2015		December 31, 2014
(millions)
Iroquois	24.72	%	$	103	$	107	Gas transmission system
Total			$	103	$	107

Dominion Gas' equity earnings on this investment totaled $8 million for both the three months ended March 31, 2015 and 2014. Dominion Gas received distributions from this investment of $12 million and $5 million for the three months ended March 31, 2015 and 2014, respectively. As of March 31, 2015 and December 31, 2014, the carrying amount of Dominion Gas' investment exceeded its share of underlying equity in net assets by approximately $8 million. The differences reflect equity method goodwill and are not being amortized.

Dominion and Dominion Gas

Blue Racer

In December 2012, Dominion formed Blue Racer with Caiman to provide midstream services to natural gas producers operating in the Utica Shale region in Ohio and portions of Pennsylvania. Blue Racer is an equal partnership between Dominion and Caiman, with Dominion contributing midstream assets and Caiman contributing private equity capital.

Dominion NGL Pipelines, LLC was contributed in January 2014 by Dominion to Blue Racer, prior to commencement of service, resulting in an increased equity method investment of $155 million, including $6 million of goodwill allocated from Dominion's goodwill balance to its equity method investment in Blue Racer.

In March 2014, Dominion Gas sold the Northern System to an affiliate, that subsequently sold the Northern System to Blue Racer for consideration of approximately $84 million. Dominion Gas' consideration consisted of $17 million in cash proceeds and the extinguishment of affiliated long-term debt of $67 million and Dominion's consideration consisted of cash proceeds of approximately $84 million. The sale resulted in a gain of approximately $59 million ($35 million after-tax for Dominion Gas and $34 million after-tax for Dominion) net of a $3 million write-off of goodwill, and is included in other operations and maintenance expense in both Dominion Gas' and Dominion's Consolidated Statements of Income.

XML

Operating Segments (Schedule of Segment Reporting Information, by Segment) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Segment Reporting Information [Line Items]
Total revenue from external customers	$ 3,409		$ 3,630
Total operating revenue	3,409		3,630
Net income attributable to Dominion	536		379
Intersegment revenue
Segment Reporting Information [Line Items]
Total revenue from external customers	0		0
DVP
Segment Reporting Information [Line Items]
Total revenue from external customers	564		502
Total operating revenue	569		504
Net income attributable to Dominion	140		131
DVP | Intersegment revenue
Segment Reporting Information [Line Items]
Total revenue from external customers	5		2
Dominion Generation
Segment Reporting Information [Line Items]
Total revenue from external customers	2,122		2,260
Total operating revenue	2,148		2,284
Net income attributable to Dominion	282		309
Dominion Generation | Intersegment revenue
Segment Reporting Information [Line Items]
Total revenue from external customers	26		24
Dominion Energy
Segment Reporting Information [Line Items]
Total revenue from external customers	379		362
Total operating revenue	739		851
Net income attributable to Dominion	207		208
Dominion Energy | Intersegment revenue
Segment Reporting Information [Line Items]
Total revenue from external customers	360		489
Corporate and Other
Segment Reporting Information [Line Items]
Total revenue from external customers	(13)		(2)
Total operating revenue	129		145
Net income attributable to Dominion	(93)		(269)
Corporate and Other | Intersegment revenue
Segment Reporting Information [Line Items]
Total revenue from external customers	142		147
Adjustments/Eliminations
Segment Reporting Information [Line Items]
Total revenue from external customers	357		508
Total operating revenue	(176)		(154)
Net income attributable to Dominion	0		0
Adjustments/Eliminations | Intersegment revenue
Segment Reporting Information [Line Items]
Total revenue from external customers	(533)		(662)
Virginia Electric and Power Company
Segment Reporting Information [Line Items]
Total revenue from external customers	2,137	[1]	1,983	[1]
Total operating revenue	2,137		1,983
Net income attributable to Dominion	269		324
Virginia Electric and Power Company | DVP
Segment Reporting Information [Line Items]
Total operating revenue	567		502
Net income attributable to Dominion	140		134
Virginia Electric and Power Company | Dominion Generation
Segment Reporting Information [Line Items]
Total operating revenue	1,585		1,481
Net income attributable to Dominion	190		189
Virginia Electric and Power Company | Corporate and Other
Segment Reporting Information [Line Items]
Total operating revenue	(15)		0
Net income attributable to Dominion	(61)		1
Dominion Gas Holdings, LLC
Segment Reporting Information [Line Items]
Total revenue from external customers	531	[2]	569	[2]
Total operating revenue	531		569
Net income attributable to Dominion	161		164
Dominion Gas Holdings, LLC | Dominion Energy
Segment Reporting Information [Line Items]
Total operating revenue	531		569
Net income attributable to Dominion	164		166
Dominion Gas Holdings, LLC | Corporate and Other
Segment Reporting Information [Line Items]
Total operating revenue	0		0
Net income attributable to Dominion	$ (3)		$ (2)

[1] See Note 17 for amounts attributable to affiliates.

[2] See Note 17 for amounts attributable to related parties.

XML

Consolidated Statements of Comprehensive Income (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Net income including noncontrolling interests	$ 540		$ 385
Net income	536		379
Other comprehensive income (loss), net of taxes:
Net deferred losses on derivatives-hedging activities	(58)	[1]	(150)	[1]
Changes in unrealized net gains (losses) on investment securities	15	[2]	29	[2]
Changes in unrecognized pension and other postretirement benefit costs	0	[3]	(4)	[3]
Amounts reclassified to net income:
Net derivative (gains) losses-hedging activities	59	[4]	160	[4]
Net realized (gains) losses on investment securities	(21)	[5]	(11)	[5]
Net pension and other postretirement benefit costs	13	[6]	8	[6]
Changes in other comprehensive loss from equity method investees	(1)		(7)
Total other comprehensive income	7		25
Comprehensive income including noncontrolling interests	547		410
Comprehensive income attributable to noncontrolling interests	4		6
Comprehensive income attributable to Dominion	543		404
Virginia Electric and Power Company
Net income	269		324
Other comprehensive income (loss), net of taxes:
Net deferred losses on derivatives-hedging activities	(4)	[7]	2	[7]
Changes in unrealized net gains (losses) on investment securities	1	[8]	2	[8]
Amounts reclassified to net income:
Net derivative (gains) losses-hedging activities	1	[9]	(3)	[9]
Net realized (gains) losses on investment securities	(1)	[10]	(2)	[10]
Total other comprehensive income	(3)		(1)
Comprehensive income attributable to Dominion	266		323
Dominion Gas Holdings, LLC
Net income	161		164
Other comprehensive income (loss), net of taxes:
Net deferred losses on derivatives-hedging activities	(4)	[11]	(8)	[11]
Amounts reclassified to net income:
Net derivative (gains) losses-hedging activities	0	[12]	5	[12]
Net pension and other postretirement benefit costs	1	[13]	1	[13]
Total other comprehensive income	(3)		(2)
Comprehensive income attributable to Dominion	$ 158		$ 162

[1] Net of $41 million and $80 million tax for the three months ended March 31, 2015 and 2014, respectively.

[2] Net of $(11) million and $(1) million tax for the three months ended March 31, 2015 and 2014, respectively.

[3] Net of $--- million and $(4) million tax for the three months ended March 31, 2015 and 2014, respectively.

[4] Net of $(39) million and $(100) million tax for the three months ended March 31, 2015 and 2014, respectively.

[5] Net of $12 million and $7 million tax for the three months ended March 31, 2015 and 2014, respectively

[6] Net of $(9) million and $(6) million tax for the three months ended March 31, 2015 and 2014, respectively.

[7] Net of $2 million and $(1) million tax for the three months ended March 31, 2015 and 2014, respectively.

[8] Net of $(1) million and $(2) million tax for the three months ended March 31, 2015 and 2014, respectively

[9] Net of $--- million and $2 million tax for the three months ended March 31, 2015 and 2014, respectively.

[10] Net of $--- million and $1 million tax for the three months ended March 31, 2015 and 2014, respectively.

[11] Net of $2 million and $5 million tax for the three months ended March 31, 2015 and 2014, respectively.

[12] Net of $--- million and $(3) million tax for the three months ended March 31, 2015 and 2014, respectively.

[13] Net of $(1) million tax for both the three months ended March 31, 2015 and 2014.

XML

Operating Revenue

3 Months Ended

Mar. 31, 2015

Regulated and Unregulated Operating Revenue [Abstract]

Operating Revenue

Operating Revenue

The Companies’ operating revenue consists of the following:

	Three Months Ended March 31,
	2015		2014
(millions)
Dominion
Electric sales:
Regulated	$	2,112	$	1,951
Nonregulated	406		854
Gas sales:
Regulated	116		147
Nonregulated	208		117
Gas transportation and storage	471		444
Other	96		117
Total operating revenue	$	3,409	$	3,630
Virginia Power
Regulated electric sales	$	2,112	$	1,951
Other	25		32
Total operating revenue	$	2,137	$	1,983
Dominion Gas
Gas sales:
Regulated	$	57	$	83
Nonregulated	3		9
Gas transportation and storage	412		396
NGL revenue	29		57
Other	30		24
Total operating revenue	$	531	$	569

XML

Acquisitions and Dispositions

3 Months Ended

Mar. 31, 2015

Business Combinations, Discontinued Operations and Disposal Groups [Abstract]

Acquisitions and Dispositions

Acquisitions and Dispositions

Dominion

Acquisition of Solar Projects

In March 2014, Dominion completed the acquisition of 100% of the equity interests of six solar development projects in California from Recurrent Energy Development Holdings, LLC for approximately $50 million in cash. The projects cost approximately $446 million to construct, including the initial acquisition cost. The facilities, which began commercial operations in the fourth quarter of 2014, generate approximately 139 MW.

The purchase price for this acquisition was allocated to Property, Plant and Equipment.

In April 2015, Dominion completed the acquisition of 100% of the equity interests of a solar project in California from EC&R NA Solar PV, LLC for approximately $66 million in cash. The project is expected to cost approximately $69 million once constructed, including the initial acquisition cost. Upon completion, the facility is expected to generate approximately 20 MW.

In April 2015, Dominion also completed the acquisition of 100% of the equity interests of a solar project in California from EDF Renewable Development, Inc. for approximately $106 million in cash. The projects owned by the acquired company are expected to cost approximately $111 million once constructed, including the initial acquisition cost. Upon completion, the facilities are expected to generate approximately 24 MW.

The allocation of the purchase price to individual assets for these investments is under evaluation by management and has not been finalized.

Long-term power purchase, interconnection and operation and maintenance agreements have been executed for each of the projects. Dominion expects to claim federal investment tax credits on the projects.

Acquisition of DCGT

In January 2015, Dominion completed the acquisition of 100% of the equity interests of DCGT from SCANA Corporation for approximately $495 million in cash, subject to final working capital adjustments. DCGT owns and operates nearly 1,500 miles of FERC-regulated interstate natural gas pipeline in South Carolina and southeastern Georgia. This acquisition supports Dominion’s natural gas expansion into the Southeast. The allocation of the purchase price is currently being evaluated and has preliminarily resulted in approximately $277 million of net property, plant and equipment, $250 million of goodwill, of which approximately $225 million is expected to be deductible for income tax purposes, and approximately $38 million of regulatory liabilities. The goodwill reflects the value associated with enhancing Dominion's regulated gas position, economic value attributable to future expansion projects as well as increased opportunities for synergies. The acquired assets of DCGT are included in the Dominion Energy operating segment.

On March 24, 2015, DCGT converted to a limited liability company under the laws of South Carolina and changed its name from Carolina Gas Transmission Corporation to DCGT. On April 1, 2015, Dominion contributed 100% of the issued and outstanding membership interests of DCGT to Dominion Midstream in exchange for total consideration of $495 million, subject to final working capital adjustments. Total consideration to Dominion consisted of the issuance of a two-year, approximately $295 million senior unsecured promissory note payable by Dominion Midstream at an annual interest rate of 0.6%, and 5,112,139 common units, valued at $200 million, representing limited partner interests in Dominion Midstream. The amount of the promissory note is subject to change to correspond with any working capital adjustments. The number of units was based on the volume weighted average trading price of Dominion Midstream's common units for the ten trading days prior to April 1, 2015, or $39.12 per unit. Since Dominion consolidates Dominion Midstream for financial reporting purposes, this transaction was eliminated upon consolidation and did not impact Dominion's financial position or cash flow.

Sale of Electric Retail Energy Marketing Business

In March 2014, Dominion completed the sale of its electric retail energy marketing business. The proceeds were approximately $187 million, net of transaction costs. The sale resulted in a gain, subject to post-closing adjustments, of approximately $100 million ($57 million after-tax) net of a $31 million write-off of goodwill, and is included in other operations and maintenance expense in Dominion's Consolidated Statements of Income. The sale of the electric retail energy marketing business did not qualify for discontinued operations classification.

Dominion Gas

Assignments of Marcellus Acreage

In December 2013, DTI closed an agreement with a natural gas producer to convey over time approximately 79,000 acres of Marcellus Shale development rights underneath one of its natural gas storage fields. The agreement provided for payments to DTI, subject to customary adjustments, of up to 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 $82 million in cash proceeds. 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. In March 2015, DTI and the natural gas producer closed on an amendment to the agreement, which included the immediate conveyance of approximately 9,000 acres of Marcellus Shale development rights and a two year extension of the term of the original agreement. The conveyance of development rights resulted in the recognition of $43 million ($27 million after-tax) of previously deferred revenue to operations and maintenance expense in Dominion Gas' Consolidated Statements of Income. At March 31, 2015, deferred revenue totaled approximately $40 million, which is expected to be recognized over the remaining term of the agreement.

In March 2015, DTI closed 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 provided for a payment to DTI, subject to customary adjustments, of approximately $27 million, and an overriding royalty interest in gas produced from the acreage. In March 2015, DTI received proceeds of $27 million associated with the conveyance of the acreage, resulting in a $27 million ($16 million after-tax) gain, included in other operations and maintenance expense in Dominion Gas' Consolidated Statements of Income.

Dominion and Dominion Gas

Blue Racer

See Note 10 for a discussion of transactions related to Blue Racer.

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Commitments and Contingencies

3 Months Ended

Mar. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

As a result of issues generated in the ordinary course of business, the Companies are involved in legal proceedings before various courts and are periodically subject to governmental examinations (including by regulatory authorities), inquiries and investigations. Certain legal proceedings and governmental examinations involve demands for unspecified amounts of damages, are in an initial procedural phase, involve uncertainty as to the outcome of pending appeals or motions, or involve significant factual issues that need to be resolved, such that it is not possible for the Companies to estimate a range of possible loss. For such matters for which the Companies cannot estimate a range of possible loss, a statement to this effect is made in the description of the matter. Other matters may have progressed sufficiently through the litigation or investigative processes such that the Companies are able to estimate a range of possible loss. For legal proceedings and governmental examinations for which the Companies are able to reasonably estimate a range of possible losses, an estimated range of possible loss is provided, in excess of the accrued liability (if any) for such matters. Any accrued liability is recorded on a gross basis with a receivable also recorded for any probable insurance recoveries. Estimated ranges of loss are inclusive of legal fees and net of any anticipated insurance recoveries. Any estimated range is based on currently available information and involves elements of judgment and significant uncertainties. Any estimated range of possible loss may not represent the Companies' maximum possible loss exposure. The circumstances of such legal proceedings and governmental examinations will change from time to time and actual results may vary significantly from the current estimate. For current proceedings not specifically reported below, management does not anticipate that the liabilities, if any, arising from such proceedings would have a material effect on the financial position, liquidity or results of operations of the Companies.

Environmental Matters

The Companies are subject to costs resulting from a number of federal, state and local laws and regulations designed to protect human health and the environment. These laws and regulations affect future planning and existing operations. They can result in increased capital, operating and other costs as a result of compliance, remediation, containment and monitoring obligations.

Air

The CAA, as amended, is a comprehensive program utilizing a broad range of regulatory tools to protect and preserve the nation's air quality. At a minimum, states are required to establish regulatory programs to address all requirements of the CAA. However, states may choose to develop regulatory programs that are more restrictive. Many of the Companies' facilities are subject to the CAA's permitting and other requirements.

In December 2011, the EPA issued MATS for coal and oil-fired electric utility steam generating units. The rule establishes strict emission limits for mercury, particulate matter as a surrogate for toxic metals and hydrogen chloride as a surrogate for acid gases. The rule includes a limited use provision for oil-fired units with annual capacity factors under 8% that provides an exemption from emission limits, and allows compliance with operational work practice standards. Compliance was required by April 16, 2015, with certain limited exceptions. However, in June 2014, the VDEQ granted a one-year MATS compliance extension for two coal-fired units at Yorktown to defer planned retirements and allow for continued operation of the units to address reliability concerns while necessary electric transmission upgrades are being completed. Due to delays in transmission upgrades needed to maintain electric reliability, these coal units will need to continue operating until early 2017.  Therefore, Virginia Power plans to request from the EPA an additional one year compliance extension under an EPA Administrative Order.

The EPA established CAIR with the intent to require significant reductions in SO₂ and NO_x emissions from electric generating facilities. In July 2008, the U.S. Court of Appeals for the D.C. Circuit issued a ruling vacating CAIR. In December 2008, the Court denied rehearing, but also issued a decision to remand CAIR to the EPA. In July 2011, the EPA issued a replacement rule for CAIR, called CSAPR, that required 28 states to reduce power plant emissions that cross state lines. CSAPR established new SO₂ and NO_x emissions cap and trade programs that were completely independent of the current ARP. Specifically, CSAPR required reductions in SO₂ and NO_x emissions from fossil fuel-fired electric generating units of 25 MW or more through annual NO_x emissions caps, NO_x emissions caps during the ozone season (May 1 through September 30) and annual SO₂ emission caps with differing requirements for two groups of affected states.

Following numerous petitions by industry participants for review and a successful motion for stay, in October 2014, the U.S. Court of Appeals for the D.C. Circuit ordered that the EPA's motion to lift the stay of CSAPR be granted. Further, the Court granted the EPA's request to shift the CSAPR compliance deadlines by three years, so that Phase 1 emissions budgets (which would have gone into effect in 2012 and 2013) will apply in 2015 and 2016, and Phase 2 emissions budgets will apply in 2017 and beyond. CSAPR replaced CAIR beginning in January 2015. The cost to comply is not expected to be material to the Consolidated Financial Statements. Future outcomes of any additional litigation and/or any action to issue a revised rule could affect the assessment regarding cost of compliance.

In May 2012, the EPA issued final designations for the 75-ppb ozone air quality standard. A number of the Companies' facilities are located in areas impacted by this standard. As part of the standard, states will be required to develop and implement plans to address sources emitting pollutants which contribute to the formation of ozone. In November 2014, the EPA issued a new proposal to revise the ozone standard and expects to finalize the rule in October 2015. The EPA is not expected to complete attainment designations for a new standard until 2017 and states will have until 2020 to develop plans to address the new standard. Until the states have developed implementation plans, the Companies are unable to predict whether or to what extent the new rules will ultimately require additional controls. However, if significant expenditures are required to implement additional controls, it could adversely affect the Companies' results of operations and cash flows.

In August 2010, the EPA issued revised National Emission Standards for Hazardous Air Pollutants for Reciprocating Internal Combustion Engines. The rule was amended in March 2011 and January 2013. The rule establishes emission standards for control of hazardous air pollutants for engines at smaller facilities, known as area sources. As a result of these regulations, Dominion Gas installed emissions controls on several compressor engines. Dominion Gas has spent approximately $2 million to date and is evaluating further expenditures. Dominion Gas is unable to estimate the additional potential impacts on results of operations, financial condition and/or cash flows related to this matter.

In August 2012, the EPA issued the first NSPS impacting the natural gas production and gathering sectors and made revisions to the NSPS for natural gas processing and transmission facilities. These rules establish equipment performance specifications and emissions standards for control of volatile organic compound emissions for natural gas production wells, tanks, pneumatic controllers, and compressors in the upstream sector. Compliance with these rules is required for installations and wells constructed or reconstructed after August 23, 2011. The cost to comply with the NSPS will depend on the number of new wells and new equipment installations subject to the rule; therefore, Dominion Gas is unable to estimate the potential impacts on results of operations, financial condition and/or cash flows related to this matter.

Water

The CWA, as amended, is a comprehensive program requiring a broad range of regulatory tools including a permit program to authorize and regulate discharges to surface waters with strong enforcement mechanisms. The Companies must comply with applicable aspects of the CWA programs at their operating facilities.

In October 2014, the final regulations under Section 316(b) of the CWA that govern existing facilities and new units at existing facilities that employ a cooling water intake structure and that have flow levels exceeding a minimum threshold became effective. The rule establishes a national standard for impingement based on seven compliance options, but forgoes the creation of a single technology standard for entrainment. Instead, the EPA has delegated entrainment technology decisions to state regulators. State regulators are to make case-by-case entrainment technology determinations after an examination of five mandatory facility-specific factors, including a social cost-benefit test, and six optional facility-specific factors. The rule governs all electric generating stations with water withdrawals above two MGD, with a heightened entrainment analysis for those facilities over 125 MGD. Dominion and Virginia Power have 14 and 11 facilities, respectively, that may be subject to the final regulations. Dominion anticipates that it will have to install impingement control technologies at many of these stations that have once-through cooling systems. Dominion and Virginia Power are currently evaluating the need or potential for entrainment controls under the final rule as these decisions will be made on a case-by-case basis after a thorough review of detailed biological, technology, cost and benefit studies. While the impacts of this rule could be material to Dominion's and Virginia Power's results of operations, financial condition and/or cash flows, the existing regulatory framework in Virginia provides rate recovery mechanisms that could substantially mitigate any such impacts for Virginia Power.

In September 2010, Millstone's NPDES permit was reissued under the CWA. The conditions of the permit require an evaluation of control technologies that could result in additional expenditures in the future. The report summarizing the results of the evaluation was submitted in August 2012 and is under review by the Connecticut Department of Energy and Environmental Protection. Dominion cannot currently predict the outcome of this review. In October 2010, the permit issuance was appealed to the state court by a private plaintiff. The permit is expected to remain in effect during the appeal. In February 2015, the NPDES permit renewal application was submitted to the Connecticut Department of Energy and Environmental Protection along with a schedule to update the evaluation of control technologies consistent with the new federal 316(b) rule. Dominion is currently unable to make an estimate of the potential financial statement impacts related to this matter.

Solid and Hazardous Waste

The CERCLA, as amended, provides for immediate response and removal actions coordinated by the EPA in the event of threatened releases of hazardous substances into the environment and authorizes the U.S. government either to clean up sites at which hazardous substances have created actual or potential environmental hazards or to order persons responsible for the situation to do so. Under the CERCLA, as amended, generators and transporters of hazardous substances, as well as past and present owners and operators of contaminated sites, can be jointly, severally and strictly liable for the cost of cleanup. These potentially responsible parties can be ordered to perform a cleanup, be sued for costs associated with an EPA-directed cleanup, voluntarily settle with the U.S. government concerning their liability for cleanup costs, or voluntarily begin a site investigation and site remediation under state oversight.

From time to time, Dominion, Virginia Power, or Dominion Gas may be identified as a potentially responsible party to a Superfund site. The EPA (or a state) can either allow such a party to conduct and pay for a remedial investigation, feasibility study and remedial action or conduct the remedial investigation and action itself and then seek reimbursement from the potentially responsible parties. Each party can be held jointly, severally and strictly liable for the cleanup costs. These parties can also bring contribution actions against each other and seek reimbursement from their insurance companies. As a result, Dominion, Virginia Power, or Dominion Gas may be responsible for the costs of remedial investigation and actions under the Superfund law or other laws or regulations regarding the remediation of waste. Except as noted below, the Companies do not believe this will have a material effect on results of operations, financial condition and/or cash flows.

In September 2011, the EPA issued a UAO to Virginia Power and 22 other parties, ordering specific remedial action of certain areas at the Ward Transformer Superfund site located in Raleigh, North Carolina. Virginia Power does not believe it is a liable party under CERCLA based on its alleged connection to the site. In November 2011, Virginia Power and a number of other parties notified the EPA that they are declining to undertake the work set forth in the UAO.

The EPA may seek to enforce a UAO in court pursuant to its enforcement authority under CERCLA, and may seek recovery of its costs in undertaking removal or remedial action. If the court determines that a respondent failed to comply with the UAO without sufficient cause, the EPA may also seek civil penalties of up to $37,500 per day for the violation and punitive damages of up to three times the costs incurred by the EPA as a result of the party's failure to comply with the UAO. Virginia Power is currently unable to make an estimate of the potential financial statement impacts related to the Ward Transformer matter.

Dominion has determined that it is associated with 17 former manufactured gas plant sites, three of which pertain to Virginia Power and 12 of which pertain to Dominion Gas. Studies conducted by other utilities at their former manufactured gas plant sites have indicated that those sites contain coal tar and other potentially harmful materials. None of the former sites with which the Companies are associated is under investigation by any state or federal environmental agency. At one of the former sites, Dominion is conducting a state-approved post-closure groundwater monitoring program and an environmental land use restriction has been recorded. Another site has been accepted into a state-based voluntary remediation program. Virginia Power is currently evaluating the nature and extent of the contamination from this site as well as potential remedial options. Preliminary costs for options under evaluation for the site range from $1 million to $22 million. Due to the uncertainty surrounding the other sites, the Companies are unable to make an estimate of the potential financial statement impacts.

In April 2015, the EPA's final rule regulating the management of CCRs stored in impoundments (ash ponds) and landfills was published in the Federal Register.The final rule regulates CCR landfills, existing ash ponds that still receive and manage CCRs, and inactive ash ponds that do not receive, but still store CCRs. Virginia Power currently operates inactive ash ponds, existing ash ponds, and CCR landfills subject to the final rule at eight different facilities and is also evaluating other features at its facilities for potential applicability under the final CCR rule.  The enactment of the final rule in April 2015 creates a legal obligation for Virginia Power to retrofit or close all of its inactive and existing ash ponds over a certain period of time, as well as perform required monitoring, corrective action, and post-closure care activities as necessary. Virginia Power is evaluating the cost and timing of compliance under the final rule in order to establish applicable ARO balances in the second quarter of 2015, which could have a material impact to its financial position and cash flows. Virginia Power does not expect these AROs to have a significant impact on overall results of operations taking into consideration the ash pond related liability established in 2014 as described below, as well as the potential for mitigation through rate recovery mechanisms under the existing regulatory framework in Virginia.

Climate Change Legislation and Regulation

In October 2013, the U.S. Supreme Court granted petitions filed by several industry groups, states, and the U.S. Chamber of Commerce seeking review of the D.C. Circuit Court's June 2012 decision upholding the EPA’s regulation of GHG emissions from stationary sources under the CAA's permitting programs. In June 2014, the U.S. Supreme Court ruled that the EPA lacked the authority under the CAA to require PSD or Title V permits for stationary sources based solely on GHG emissions. However, the Court upheld the EPA’s ability to require BACT for GHG for sources that are otherwise subject to PSD or Title V permitting for conventional pollutants. In July 2014, the EPA issued a memorandum specifying that it will no longer apply or enforce federal regulations or EPA-approved PSD state implementation plan provisions that require new and modified stationary sources to obtain a PSD permit when GHGs are the only pollutant that would be emitted at levels that exceed the permitting thresholds. In addition, the EPA stated that it will continue to use the existing thresholds to apply to sources that are otherwise subject to PSD for conventional pollutants until it completes a new rulemaking either justifying and upholding those thresholds or setting new ones. Some states have issued interim guidance that follows the EPA guidance. Due to uncertainty regarding what additional actions states may take to amend their existing regulations and what action the EPA ultimately takes to address the court ruling under a new rulemaking, the Companies cannot predict the impact to their financial statements at this time. 

In July 2011, the EPA signed a final rule deferring the need for PSD and Title V permitting for CO₂ emissions for biomass projects. This rule temporarily deferred for a period of up to three years the consideration of CO₂ emissions from biomass projects when determining whether a stationary source meets the PSD and Title V applicability thresholds, including those for the application of BACT.  The deferral policy expired in July 2014. In July 2013, the U.S. Court of Appeals for the D.C. Circuit vacated this rule; however, a mandate making this decision effective has not been issued.  Virginia Power converted three coal-fired generating stations, Altavista, Hopewell and Southampton, to biomass during the CO₂ deferral period.  It is unclear how the court's decision or the EPA's final policy regarding the treatment of specific feedstock will affect biomass sources that were permitted during the deferral period; however, the expenditures to comply with any new requirements could be material to Dominion's and Virginia Power's financial statements.

Other Legal Matters

The Companies are defendants in a number of lawsuits and claims involving unrelated incidents of property damage and personal injury. Due to the uncertainty surrounding these matters, the Companies are unable to make an estimate of the potential financial statement impacts; however, they could have a material impact on results of operations, financial condition and/or cash flows.

Appalachian Gateway

Following the completion of the Appalachian Gateway Project in 2012, DTI received multiple change order requests and other claims for additional payments from a pipeline contractor for the project. In July 2013, DTI filed a complaint in U.S. District Court, Eastern District of Virginia for breach of contract as well as accounting and declaratory relief. The contractor filed a motion to dismiss, or in the alternative, a motion to transfer venue to Pennsylvania and/or West Virginia, where the pipelines were constructed. DTI filed an opposition to the contractor’s motion in August 2013. In November 2013, the court granted the contractor’s motion on the basis that DTI must first comply with the dispute resolution process. Pursuant to the ruling, DTI intends to mediate the matter. This case is pending. DTI has accrued a liability of approximately $6 million for this matter. Dominion Gas cannot currently estimate additional financial statement impacts, but there could be a material impact to its financial condition and/or cash flows.

Ash Pond Closure Costs

In September 2014, Virginia Power received a notice from the SELC on behalf of the Potomac Riverkeeper and Sierra Club alleging CWA violations at Possum Point. The notice alleges unpermitted discharges to surface water and groundwater from Possum Point's historical and active ash storage facilities. A similar notice from the SELC on behalf of the Sierra Club was subsequently received related to Chesapeake. In December 2014, Virginia Power offered to close all of its coal ash ponds and landfills at Possum Point, Chesapeake and Bremo as settlement of the potential litigation. While the issue is open to potential further negotiations, the SELC declined the offer as presented in January 2015 and, in March 2015, filed a lawsuit related to its claims of the alleged CWA violations at Chesapeake. As a result of the settlement offer, Virginia Power recognized a charge of $121 million in other operations and maintenance expense in its Consolidated Statements of Income in the Companies' Annual Report on Form 10-K for the year ended December 31, 2014. Virginia Power expects to reverse this contingent liability and recognize the ARO in the second quarter of 2015 as described above, as the legal obligations created by the final CCR rule represent substantially the same activities contemplated by this settlement offer with respect to Possum Point, Chesapeake and Bremo. Any difference in measurement is not expected to be material to Virginia Power's results of operations.

Nuclear Matters

In March 2011, a magnitude 9.0 earthquake and subsequent tsunami caused significant damage at the Fukushima Daiichi nuclear power station in northeast Japan. These events have resulted in significant nuclear safety reviews required by the NRC and industry groups such as INPO. Like other U.S. nuclear operators, Dominion has been gathering supporting data and participating in industry initiatives focused on the ability to respond to and mitigate the consequences of design-basis and beyond-design-basis events at its stations. 

In July 2011, an NRC task force provided initial recommendations based on its review of the Fukushima Daiichi accident and in October 2011, the NRC staff prioritized these recommendations into Tiers 1, 2 and 3, with the Tier 1 recommendations consisting of actions which the staff determined should be started without unnecessary delay. In December 2011, the NRC Commissioners approved the agency staff's prioritization and recommendations, and that same month an appropriations act directed the NRC to require reevaluation of external hazards (not limited to seismic and flooding hazards) as soon as possible.

Based on the prioritized recommendations, in March 2012, the NRC issued orders and information requests requiring specific reviews and actions to all operating reactors, construction permit holders and combined license holders based on the lessons learned from the Fukushima Daiichi event. The orders applicable to Dominion require implementation of safety enhancements related to mitigation strategies to respond to extreme natural events resulting in the loss of power at plants, and enhancing spent fuel pool instrumentation. The orders require prompt implementation of the safety enhancements and completion of implementation within two refueling outages or by December 31, 2016, whichever comes first. Implementation of these enhancements is currently in progress. The information requests issued by the NRC request each reactor to reevaluate the seismic and flooding hazards at their site using present-day methods and information, conduct walkdowns of their facilities to ensure protection against the hazards in their current design basis, and to reevaluate their emergency communications systems and staffing levels. Dominion and Virginia Power do not currently expect that compliance with the NRC's March 2012 orders and information requests will materially impact their financial position, results of operations or cash flows during the approximately four-year implementation period. The NRC staff is evaluating the implementation of the longer-term Tier 2 and Tier 3 recommendations. Dominion and Virginia Power are currently unable to estimate the potential financial impacts related to compliance with Tier 2 and Tier 3 recommendations.

Guarantees, Surety Bonds and Letters of Credit

Dominion

At March 31, 2015, Dominion had issued $74 million of guarantees, primarily to support equity method investees. No significant amounts related to these guarantees have been recorded. As of March 31, 2015, Dominion’s exposure under these guarantees was $39 million, primarily related to certain reserve requirements associated with non-recourse financing.

Dominion also enters into guarantee arrangements on behalf of its consolidated subsidiaries, primarily to facilitate their commercial transactions with third parties. To the extent that a liability subject to a guarantee has been incurred by one of Dominion's consolidated subsidiaries, that liability is included in the Consolidated Financial Statements. Dominion is not required to recognize liabilities for guarantees issued on behalf of its subsidiaries unless it becomes probable that it will have to perform under the guarantees. Terms of the guarantees typically end once obligations have been paid. Dominion currently believes it is unlikely that it would be required to perform or otherwise incur any losses associated with guarantees of its subsidiaries' obligations.

At March 31, 2015, Dominion had issued the following subsidiary guarantees:

	Stated Limit		Value(1)
(millions)
Subsidiary debt(2)	$	27	$	27
Commodity transactions(3)	2,816		1,075
Nuclear obligations(4)	199		79
Cove Point(5)	1,910		—
Solar(6)	531		171
Other(7)	528		36
Total	$	6,011	$	1,388

(1) Represents the estimated portion of the guarantee's stated limit that is utilized as of March 31, 2015 based upon prevailing economic conditions and fact patterns specific to each guarantee arrangement. For those guarantees related to obligations that are recorded as liabilities by Dominion's subsidiaries, the value includes the recorded amount.

(2) Guarantee of debt of a DEI subsidiary. In the event of default by the subsidiary, Dominion would be obligated to repay such amounts.

(3) Guarantees related to commodity commitments of certain subsidiaries, including subsidiaries of Virginia Power, Dominion Gas and DEI. These guarantees were provided to counterparties in order to facilitate physical and financial transactions in gas, oil, electricity, pipeline capacity, transportation and related commodities and services. If any of these subsidiaries fail to perform or pay under the contracts and the counterparties seek performance or payment, Dominion would be obligated to satisfy such obligation. Dominion and its subsidiaries receive similar guarantees as collateral for credit extended to others. The value provided includes certain guarantees that do not have stated limits.

(4) Guarantees related to certain DEI subsidiaries' potential retrospective premiums that could be assessed if there is a nuclear incident under Dominion's nuclear insurance programs and guarantees for a DEI subsidiary's and Virginia Power's commitment to buy nuclear fuel. Excludes Dominion's agreement to provide up to $150 million and $60 million to two DEI subsidiaries to pay the operating expenses of Millstone (in the event of a prolonged outage) and Kewaunee, respectively, as part of satisfying certain NRC requirements concerned with ensuring adequate funding for the operations of nuclear power stations. The agreement for Kewaunee also provides for funds through the completion of decommissioning.

(5) Guarantees related to Cove Point, in support of terminal services, transportation and construction. Two of the guarantees have no stated limit, one guarantee has a $150 million limit, and one guarantee has a $1.75 billion aggregate limit with an annual draw limit of $175 million.

(6) Includes guarantees to facilitate the development of solar projects including guarantees to support the issuance of full notice to proceed under EPC agreements. Includes certain guarantees that do not have stated limits. Also includes guarantees entered into by DEI on behalf of certain subsidiaries to facilitate the acquisition and development of solar projects. 

(7) Guarantees related to other miscellaneous contractual obligations such as leases, environmental obligations and construction projects. Also includes guarantees related to certain DEI subsidiaries' obligations for equity capital contributions and energy generation associated with Fowler Ridge and NedPower. As of March 31, 2015, Dominion's maximum remaining cumulative exposure under these equity funding agreements is $63 million through 2019 and its maximum annual future contributions could range from approximately $4 million to $19 million. The value provided includes certain guarantees that do not have stated limits.

Additionally, at March 31, 2015, Dominion had purchased $134 million of surety bonds, including $65 million at Virginia Power and $30 million at Dominion Gas, and authorized the issuance of letters of credit by financial institutions of $48 million to facilitate commercial transactions by its subsidiaries with third parties. Under the terms of surety bonds, the Companies are obligated to indemnify the respective surety bond company for any amounts paid.

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Regulatory Assets and Liabilities

3 Months Ended

Mar. 31, 2015

Regulatory Assets and Liabilities Disclosure [Abstract]

Regulatory Assets and Liabilities

Regulatory Assets and Liabilities

Regulatory assets and liabilities include the following:

	March 31, 2015		December 31, 2014
(millions)
Dominion
Regulatory assets:
Deferred cost of fuel used in electric generation(1)	$	122	$	79

Deferred rate adjustment clause costs(2)	108		124
Deferred nuclear refueling outage costs(3)	57		44
Unrecovered gas costs(4)	16		36
Other	59		64
Regulatory assets-current(5)	362		347
Unrecognized pension and other postretirement benefit costs(6)	1,034		1,050
Deferred rate adjustment clause costs(2)	216		250
Derivatives(7)	150		101
Income taxes recoverable through future rates(8)	136		133
Other	129		108
Regulatory assets-non-current	1,665		1,642
Total regulatory assets	$	2,027	$	1,989
Regulatory liabilities:
PIPP(9)	$	63	$	71
Other	43		99
Regulatory liabilities-current(10)	106		170
Provision for future cost of removal and AROs(11)	1,100		1,072
Nuclear decommissioning trust(12)	822		815
Other	197		104
Regulatory liabilities-non-current	2,119		1,991
Total regulatory liabilities	$	2,225	$	2,161
Virginia Power
Regulatory assets:
Deferred cost of fuel used in electric generation(1)	$	122	$	79
Deferred rate adjustment clause costs(2)	106		117
Deferred nuclear refueling outage costs(3)	57		44
Other	54		58
Regulatory assets-current	339		298
Deferred rate adjustment clause costs(2)	141		179
Derivatives(7)	150		101
Income taxes recoverable through future rates(8)	103		100
Other	70		59
Regulatory assets-non-current	464		439
Total regulatory assets	$	803	$	737
Regulatory liabilities:
Other	$	23	$	90
Regulatory liabilities-current(10)	23		90
Provision for future cost of removal(11)	864		852
Nuclear decommissioning trust(12)	822		815
Other	83		16
Regulatory liabilities-non-current	1,769		1,683
Total regulatory liabilities	$	1,792	$	1,773
Dominion Gas
Regulatory assets:
Unrecovered gas costs(4)	$	13	$	29
Deferred rate adjustment clause costs(2)	2		7

Other	1		2
Regulatory assets-current(5)	16		38
Unrecognized pension and other postretirement benefit costs(6)	239		242
Deferred rate adjustment clause costs(2)	75		71
Income taxes recoverable through future rates(8)	24		24
Other	52		42
Regulatory assets-non-current	390		379
Total regulatory assets	$	406	$	417
Regulatory liabilities:
PIPP(9)	$	63	$	71
Other	16		4
Regulatory liabilities-current(10)	79		75
Provision for future cost of removal and AROs(11)	172		172
Other	26		20
Regulatory liabilities-non-current(13)	198		192
Total regulatory liabilities	$	277	$	267

(1) Primarily reflects deferred fuel expenses for the Virginia jurisdiction of Virginia Power's generation operations. See Note 12 for more information.

(2) Reflects deferrals under the electric transmission FERC formula rate and the deferral of costs associated with certain current and prospective rider projects for Virginia Power. Reflects deferrals of costs associated with certain current and prospective rider projects for Dominion Gas. See Note 12 for more information.

(3) Legislation enacted in Virginia in April 2014 requires Virginia Power to defer operation and maintenance costs incurred in connection with the refueling of any nuclear-powered generating plant. These deferred costs will be amortized over the refueling cycle, not to exceed 18 months.

(4) Reflects unrecovered gas costs at regulated gas operations, which are recovered through filings with the applicable regulatory authority.

(5) Current regulatory assets are presented in other current assets in Dominion's and Dominion Gas' Consolidated Balance Sheets.

(6) Represents unrecognized pension and other postretirement employee benefit costs expected to be recovered through future rates generally over the expected remaining service period of plan participants by certain of Dominion's and Dominion Gas' rate-regulated subsidiaries.

(7) For jurisdictions subject to cost-based rate regulation, changes in the fair value of derivative instruments result in the recognition of regulatory assets or regulatory liabilities as they are expected to be recovered from or refunded to customers.

(8) Amounts to be recovered through future rates to pay income taxes that become payable when rate revenue is provided to recover AFUDC-equity and depreciation of property, plant and equipment for which deferred income taxes were not recognized for ratemaking purposes, including amounts attributable to tax rate changes.

(9) Under PIPP, eligible customers can make reduced payments based on their ability to pay. The difference between the customer's total bill and the PIPP plan amount is deferred and collected or returned annually under the PIPP rider according to East Ohio tariff provisions.

(10) Current regulatory liabilities are presented in other current liabilities in the Companies' Consolidated Balance Sheets.

(11) Rates charged to customers by the Companies' regulated businesses include a provision for the cost of future activities to remove assets that are expected to be incurred at the time of retirement.

(12) Primarily reflects a regulatory liability representing amounts collected from Virginia jurisdictional customers and placed in external trusts (including income, losses and changes in fair value thereon) for the future decommissioning of Virginia Power's utility nuclear generation stations, in excess of the related AROs.

(13) Noncurrent regulatory liabilities are presented in other deferred credits and other liabilities in Dominion Gas' Consolidated Balance Sheets.

At March 31, 2015, approximately $129 million of Dominion's, $97 million of Virginia Power's and $30 million of Dominion Gas' regulatory assets represented past expenditures on which they do not currently earn a return. These expenditures are expected to be recovered within the next two years.

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Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income

Dominion

The following table presents Dominion’s changes in AOCI by component, net of tax:

	Deferred gains and losses on derivatives-hedging activities			Unrealized gains and losses on investment securities			Unrecognized pension and other postretirement benefit costs			Other comprehensive income (loss) from equity method investee			Total
(millions)
Three Months Ended March 31, 2015
Beginning balance	$	(178	)	$	548		$	(782	)	$	(4	)	$	(416	)
Other comprehensive income before reclassifications: gains (losses)	(58		)	15			—			(1		)	(44		)
Amounts reclassified from AOCI(1): (gains) losses	59			(21		)	13			—			51
Net current-period other comprehensive income (loss)	1			(6		)	13			(1		)	7
Ending balance	$	(177	)	$	542		$	(769	)	$	(5	)	$	(409	)
Three Months Ended March 31, 2014
Beginning balance	$	(288	)	$	474		$	(510	)	$	—		$	(324	)
Other comprehensive income before reclassifications: gains (losses)	(150		)	29			(4		)	(7		)	(132		)
Amounts reclassified from AOCI(1): (gains) losses	160			(11		)	8			—			157
Net current-period other comprehensive income (loss)	10			18			4			(7		)	25
Ending balance	$	(278	)	$	492		$	(506	)	$	(7	)	$	(299	)

(1) See table below for details about these reclassifications.

The following table presents Dominion’s reclassifications out of AOCI by component:

Details about AOCI components	Amounts reclassified from AOCI			Affected line item in the Consolidated Statements of Income
(millions)
Three Months Ended March 31, 2015
Deferred (gains) and losses on derivatives-hedging activities:
Commodity contracts	$	92		Operating revenue
	5			Purchased gas
	(1		)	Electric fuel and other energy-related purchases
Interest rate contracts	2			Interest and related charges
	98
Tax	(39		)	Income tax expense
	$	59
Unrealized (gains) and losses on investment securities:
Realized (gain) loss on sale of securities	$	(39	)	Other income
Impairment	6			Other income
	(33		)
Tax	12			Income tax expense
	$	(21	)
Unrecognized pension and other postretirement benefit costs:
Prior service (credit) costs	$	(3	)	Other operations and maintenance
Actuarial (gains) losses	25			Other operations and maintenance
	22
Tax	(9		)	Income tax expense
	$	13

Three Months Ended March 31, 2014
Deferred (gains) and losses on derivatives-hedging activities:
Commodity contracts	$	269		Operating revenue
	1			Purchased gas
	(13		)	Electric fuel and other energy-related purchases
Interest rate contracts	3			Interest and related charges
	260
Tax	(100		)	Income tax expense
	$	160
Unrealized (gains) and losses on investment securities:
Realized (gain) loss on sale of securities	$	(20	)	Other income
Impairment	2			Other income
	(18		)
Tax	7			Income tax expense
	$	(11	)
Unrecognized pension and other postretirement benefit costs:
Prior service (credit) costs	$	(3	)	Other operations and maintenance
Actuarial (gains) losses	17			Other operations and maintenance
	14
Tax	(6		)	Income tax expense
	$	8

Dominion Gas

The following table presents Dominion Gas’ changes in AOCI by component, net of tax:

	Deferred gains and losses on derivatives-hedging activities			Unrecognized pension and other postretirement benefit costs			Total
(millions)
Three Months Ended March 31, 2015
Beginning balance	$	(20	)	$	(66	)	$	(86	)
Other comprehensive income before reclassifications: gains (losses)	(4		)	—			(4		)
Amounts reclassified from AOCI(1): (gains) losses	—			1			1
Net current-period other comprehensive income (loss)	(4		)	1			(3		)
Ending balance	$	(24	)	$	(65	)	$	(89	)
Three Months Ended March 31, 2014
Beginning balance	$	3		$	(61	)	$	(58	)
Other comprehensive income before reclassifications: gains (losses)	(8		)	—			(8		)
Amounts reclassified from AOCI(1): (gains) losses	5			1			6
Net current-period other comprehensive income (loss)	(3		)	1			(2		)
Ending balance	$	—		$	(60	)	$	(60	)

(1) See table below for details about these reclassifications.

The following table presents Dominion Gas' reclassifications out of AOCI by component:

Details about AOCI components	Amounts reclassified from AOCI			Affected line item in the Consolidated Statements of Income
(millions)
Three Months Ended March 31, 2015
Unrecognized pension and other postretirement benefit costs:
Actuarial (gains) losses	$	2		Other operations and maintenance
	2
Tax	(1		)	Income tax expense
	$	1
Three Months Ended March 31, 2014
Deferred (gains) and losses on derivatives-hedging activities:
Commodity contracts	$	6		Operating revenue
	2			Purchased gas
	8
Tax	(3		)	Income tax expense
	$	5
Unrecognized pension and other postretirement benefit costs:
Actuarial (gains) losses	$	2		Other operations and maintenance
	2
Tax	(1		)	Income tax expense
	$	1

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Derivatives and Hedge Accounting Activities (Gains and Losses on Derivatives in Cash Flow Hedging Relationships) (Details) (Cash Flow Hedges, USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015		Mar. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)	$ (99)	[1]	$ (230)	[1]
Amount of Gain (Loss) Reclassified from AOCI to Income	(98)		(260)
Increase (Decrease) in Derivatives Subject to Regulatory Treatment	(46)	[2]	(21)	[2]
Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)	(41)	[1]	(183)	[1]
Amount of Gain (Loss) Reclassified from AOCI to Income	(96)		(257)
Increase (Decrease) in Derivatives Subject to Regulatory Treatment	3	[2]	2	[2]
Commodity | Operating revenue
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from AOCI to Income	(92)		(269)
Commodity | Purchased gas
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from AOCI to Income	(5)		(1)
Commodity | Electric fuel and other energy-related purchases
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from AOCI to Income	1		13
Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)	(58)	[1],[3]	(47)	[1],[3]
Amount of Gain (Loss) Reclassified from AOCI to Income	(2)	[3]	(3)	[3]
Increase (Decrease) in Derivatives Subject to Regulatory Treatment	(49)	[2],[3]	(23)	[2],[3]
Virginia Electric and Power Company
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)	(6)	[4]	3	[4]
Amount of Gain (Loss) Reclassified from AOCI to Income	(1)		5
Increase (Decrease) in Derivatives Subject to Regulatory Treatment	(46)	[5]	(21)	[5]
Virginia Electric and Power Company | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)	0	[4]	6	[4]
Amount of Gain (Loss) Reclassified from AOCI to Income	(1)		5
Increase (Decrease) in Derivatives Subject to Regulatory Treatment	3	[5]	2	[5]
Virginia Electric and Power Company | Commodity | Electric fuel and other energy-related purchases
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from AOCI to Income	(1)		5
Virginia Electric and Power Company | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)	(6)	[4],[6]	(3)	[4],[6]
Amount of Gain (Loss) Reclassified from AOCI to Income	0	[6]	0	[6]
Increase (Decrease) in Derivatives Subject to Regulatory Treatment	(49)	[5],[6]	(23)	[5],[6]
Dominion Gas Holdings, LLC
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)	(6)	[7]	(13)	[7]
Amount of Gain (Loss) Reclassified from AOCI to Income	0		(8)
Dominion Gas Holdings, LLC | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)	(2)	[7]	1	[7]
Amount of Gain (Loss) Reclassified from AOCI to Income	0		(8)
Dominion Gas Holdings, LLC | Commodity | Operating revenue
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from AOCI to Income	0		(6)
Dominion Gas Holdings, LLC | Commodity | Purchased gas
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from AOCI to Income			(2)
Dominion Gas Holdings, LLC | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)	(4)	[7],[8]	(14)	[7],[8]
Amount of Gain (Loss) Reclassified from AOCI to Income	$ 0	[8]	$ 0	[8]

[1] Amounts deferred into AOCI have no associated effect in Dominion’s Consolidated Statements of Income.

[2] Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Dominion’s Consolidated Statements of Income.

[3] Amounts recorded in Dominion’s Consolidated Statements of Income are classified in interest and related charges.

[4] Amounts deferred into AOCI have no associated effect in Virginia Power’s Consolidated Statements of Income.

[5] Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Virginia Power’s Consolidated Statements of Income.

[6] Amounts recorded in Virginia Power’s Consolidated Statements of Income are classified in interest and related charges.

[7] Amounts deferred into AOCI have no associated effect in Dominion Gas' Consolidated Statements of Income.

[8] Amounts recorded in Dominion Gas' Consolidated Statements of Income are classified in interest and related charges.

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Income Taxes

3 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

For continuing operations, including noncontrolling interests, the statutory U.S. federal income tax rate reconciles to the Companies' effective income tax rate as follows:

	Dominion				Virginia Power				Dominion Gas
Three Months Ended March 31,	2015		2014		2015		2014		2015		2014
U.S. statutory rate	35.0	%	35.0	%	35.0	%	35.0	%	35.0	%	35.0	%
Increases (reductions) resulting from:
State taxes, net of federal benefit	2.9		2.7		3.8		3.8		4.0		3.4
Investment tax credits	(0.8	)	(3.6	)	—		—		—		—
Production tax credits	(0.8	)	(0.6	)	(0.4	)	(0.8	)	—		—
Other, net	(0.6	)	(0.8	)	(0.7	)	(0.2	)	(0.1	)	0.3
Effective tax rate	35.7	%	32.7	%	37.7	%	37.8	%	38.9	%	38.7	%

As of March 31, 2015, there have been no material changes in the Companies' unrecognized tax benefits or possible changes that could reasonably be expected to occur during the next twelve months. See Note 5 to the Consolidated Financial Statements in the Companies' Annual Report on Form 10-K for the year ended December 31, 2014 for a discussion of these unrecognized tax benefits.

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Earnings Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following table presents the calculation of Dominion’s basic and diluted EPS:

	Three Months Ended March 31,
	2015		2014
(millions, except EPS)
Net income attributable to Dominion	$	536	$	379
Average shares of common stock outstanding – Basic	587.9		581.6
Net effect of dilutive securities(1)	2.0		1.3
Average shares of common stock outstanding – Diluted	589.9		582.9
Earnings Per Common Share – Basic and Diluted	$	0.91	$	0.65

(1) Dilutive securities consist primarily of the 2013 Equity Units for 2015 and contingently convertible senior notes and the 2013 Equity Units for 2014. See Note 14 in this report and Note 17 to the Consolidated Financial Statements in the Companies' Annual Report on Form 10-K for the year ended December 31, 2014 for more information.

The 2014 Equity Units are potentially dilutive securities but were excluded from the calculation of diluted EPS for the three months ended March 31, 2015, as the dilutive stock price threshold was not met. There were no potentially dilutive securities excluded from the calculation of diluted EPS for the three months ended March 31, 2014.

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Fair Value Measurements

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

The Companies' fair value measurements are made in accordance with the policies discussed in Note 6 to the Consolidated Financial Statements in the Companies' Annual Report on Form 10-K for the year ended December 31, 2014. See Note 9 in this report for further information about the Companies' derivatives and hedge accounting activities.

The Companies enter into certain physical and financial forwards, futures, options and swaps, which are considered Level 3 as they have one or more inputs that are not observable and are significant to the valuation. The discounted cash flow method is used to value Level 3 physical and financial forwards and futures contracts. An option model is used to value Level 3 physical and financial options. The discounted cash flow model for forwards and futures calculates mark-to-market valuations based on forward market prices, original transaction prices, volumes, risk-free rate of return, and credit spreads. The option model calculates mark-to-market valuations using variations of the Black-Scholes option model. The inputs into the models are the forward market prices, implied price volatilities, risk-free rate of return, the option expiration dates, the option strike prices, the original sales prices, and volumes. For Level 3 fair value measurements, forward market prices, credit spreads and implied price volatilities are considered unobservable. The unobservable inputs are developed and substantiated using historical information, available market data, third-party data, and statistical analysis. Periodically, inputs to valuation models are reviewed and revised as needed, based on historical information, updated market data, market liquidity and relationships, and changes in third-party pricing sources.

The following table presents Dominion's quantitative information about Level 3 fair value measurements at March 31, 2015. The range and weighted average are presented in dollars for market price inputs and percentages for credit spreads and price volatility.

	Fair Value (millions)		Valuation Techniques	Unobservable Input		Range	Weighted Average(1)
Assets:
Physical and Financial Forwards and Futures:
Natural Gas(2)	$	85	Discounted Cash Flow	Market Price (per Dth)	(3)	(2) - 6	(1	)
				Credit spread	(4)	1% - 5%	2	%
FTRs	4		Discounted Cash Flow	Market Price (per MWh)	(3)	(5) - 7	1
Physical and Financial Options:
Natural Gas	5		Option Model	Market Price (per Dth)	(3)	2 - 4	3
				Price Volatility	(5)	21% - 76%	32	%
Total assets	$	94
Liabilities:
Physical and Financial Forwards and Futures:
Natural Gas(2)	$	12	Discounted Cash Flow	Market Price (per Dth)	(3)	(2) - 4	2
FTRs	4		Discounted Cash Flow	Market Price (per MWh)	(3)	(2) - 5	1
Physical and Financial Options:
Natural Gas	2		Option Model	Market Price (per Dth)	(3)	2 - 4	3
				Price Volatility	(5)	21% - 76%	32	%
Total liabilities	$	18

(1) Averages weighted by volume.

(2) Includes basis.

(3) Represents market prices beyond defined terms for Levels 1 and 2.

(4) Represents credit spreads unrepresented in published markets.

(5) Represents volatilities unrepresented in published markets.

Sensitivity of the fair value measurements to changes in the significant unobservable inputs is as follows:

Significant Unobservable Inputs	Position	Change to Input	Impact on Fair Value Measurement
Market Price	Buy	Increase (decrease)	Gain (loss)
Market Price	Sell	Increase (decrease)	Loss (gain)
Price Volatility	Buy	Increase (decrease)	Gain (loss)
Price Volatility	Sell	Increase (decrease)	Loss (gain)
Credit spread	Asset	Increase (decrease)	Loss (gain)

Recurring Fair Value Measurements

Dominion

The following table presents Dominion’s assets and liabilities that are measured at fair value on a recurring basis for each hierarchy level, including both current and noncurrent portions:

	Level 1		Level 2		Level 3		Total
(millions)
At March 31, 2015
Assets:
Derivatives:
Commodity	$	3	$	564	$	94	$	661
Interest rate	—		18		—		18
Investments(1):
Equity securities:
U.S.:
Large cap	2,647		—		—		2,647
Other	7		—		—		7
Non-U.S.:
Large cap	12		—		—		12
Fixed income:
Corporate debt instruments	—		462		—		462
U.S. Treasury securities and agency debentures	407		187		—		594
State and municipal	—		423		—		423
Other	—		130		—		130
Cash equivalents and other	1		4		—		5
Total assets	$	3,077	$	1,788	$	94	$	4,959
Liabilities:
Derivatives:
Commodity	$	3	$	437	$	18	$	458
Interest rate	—		307		—		307
Total liabilities	$	3	$	744	$	18	$	765
At December 31, 2014
Assets:
Derivatives:
Commodity	$	3	$	567	$	125	$	695
Interest rate	—		24		—		24
Investments(1):
Equity securities:
U.S.:
Large cap	2,669		—		—		2,669
Other	6		—		—		6
Non-U.S.:
Large cap	12		—		—		12
Fixed income:
Corporate debt instruments	—		441		—		441
U.S. Treasury securities and agency debentures	419		190		—		609
State and municipal	—		395		—		395
Other	—		74		—		74

Cash equivalents and other	3		10		—		13
Total assets	$	3,112	$	1,701	$	125	$	4,938
Liabilities:
Derivatives:
Commodity	$	3	$	571	$	18	$	592
Interest rate	—		202		—		202
Total liabilities	$	3	$	773	$	18	$	794

(1) Includes investments held in the nuclear decommissioning and rabbi trusts.

The following table presents the net change in Dominion's assets and liabilities measured at fair value on a recurring basis and included in the Level 3 fair value category:

	Three Months Ended March 31,
	2015			2014
(millions)
Beginning balance	$	107		$	(16	)
Total realized and unrealized gains (losses):
Included in earnings	15			110
Included in other comprehensive income (loss)	(11		)	4
Included in regulatory assets/liabilities	(24		)	17
Settlements	(14		)	(108		)
Transfers out of Level 3(1)	3			1
Ending balance	$	76		$	8
The amount of gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets/liabilities still held at the reporting date	$	—		$	1

(1) In March 2015, Dominion changed the classification of NGL derivatives from Level 3 to Level 2 due to an increase in liquidity in financial forward markets. At March 31, 2015, $9 million of the transfers out of Level 3 relate to NGLs.

The following table presents Dominion's classification of gains and losses included in earnings in the Level 3 fair value category:

	Operating revenue			Electric fuel and other energy-related purchases		Total
(millions)
Three Months Ended March 31, 2015
Total gains (losses) included in earnings	$	2		$	13	$	15
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets/liabilities still held at the reporting date	—			—		—
Three Months Ended March 31, 2014
Total gains (losses) included in earnings	$	(10	)	$	120	$	110
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized gains (losses) relating to assets/liabilities still held at the reporting date	1			—		1

Virginia Power

The following table presents Virginia Power's quantitative information about Level 3 fair value measurements at March 31, 2015. The range and weighted average are presented in dollars for market price inputs and percentages for credit spreads.

	Fair Value (millions)		Valuation Techniques	Unobservable Input		Range	Weighted Average(1)
Assets:
Physical and Financial Forwards and Futures:
FTRs	$	4	Discounted Cash Flow	Market Price (per MWh)	(3)	(5) - 7	1
Natural Gas(2)	78		Discounted Cash Flow	Market Price (per Dth)	(3)	(2) - 3	(1	)
				Credit spread	(4)	1% - 5%	2	%
Total assets	$	82
Liabilities:
Physical and Financial Forwards and Futures:
FTRs	$	4	Discounted Cash Flow	Market Price (per MWh)	(3)	(2) - 5	1
Total liabilities	$	4

(1) Averages weighted by volume.

(2) Includes basis.

(3) Represents market prices beyond defined terms for Levels 1 and 2.

(4) Represents credit spreads unrepresented in published markets.

Sensitivity of the fair value measurements to changes in the significant unobservable inputs is as follows:

Significant Unobservable Inputs	Position	Change to Input	Impact on Fair Value Measurement
Market Price	Buy	Increase (decrease)	Gain (loss)
Market Price	Sell	Increase (decrease)	Loss (gain)
Credit spread	Asset	Increase (decrease)	Loss (gain)

The following table presents Virginia Power’s assets and liabilities that are measured at fair value on a recurring basis for each hierarchy level, including both current and noncurrent portions:

	Level 1		Level 2		Level 3		Total
(millions)
At March 31, 2015
Assets:
Derivatives:
Commodity	$	—	$	24	$	82	$	106
Investments(1):
Equity securities:
U.S. large cap	1,166		—		—		1,166
Fixed income:
Corporate debt instruments	—		258		—		258
U.S. Treasury securities and agency debentures	129		63		—		192
State and municipal	—		224		—		224
Other	—		31		—		31
Total assets	$	1,295	$	600	$	82	$	1,977
Liabilities:
Derivatives:
Commodity	$	—	$	7	$	4	$	11
Interest rate	—		128		—		128
Total liabilities	$	—	$	135	$	4	$	139
At December 31, 2014
Assets:
Derivatives:
Commodity	$	—	$	7	$	106	$	113
Investments(1):
Equity securities:
U.S. large cap	1,157		—		—		1,157
Fixed income:
Corporate debt instruments	—		250		—		250
U.S. Treasury securities and agency debentures	137		61		—		198
State and municipal	—		211		—		211
Other	—		23		—		23
Total assets	$	1,294	$	552	$	106	$	1,952
Liabilities:
Derivatives:
Commodity	$	—	$	11	$	4	$	15
Interest rate	—		72		—		72
Total liabilities	$	—	$	83	$	4	$	87

(1) Includes investments held in the nuclear decommissioning and rabbi trusts.

The following table presents the net change in Virginia Power’s assets and liabilities measured at fair value on a recurring basis and included in the Level 3 fair value category:

	Three Months Ended March 31,
	2015			2014
(millions)
Beginning balance	$	102		$	(7	)
Total realized and unrealized gains (losses):
Included in earnings	14			120
Included in regulatory assets/liabilities	(24		)	17
Settlements	(14		)	(120		)
Ending balance	$	78		$	10

The gains and losses included in earnings in the Level 3 fair value category were classified in electric fuel and other energy-related purchases in Virginia Power's Consolidated Statements of Income for the three months ended March 31, 2015 and 2014. There were no unrealized gains or losses included in earnings in the Level 3 fair value category relating to assets/liabilities still held at the reporting date for the three months ended March 31, 2015 and 2014.

Dominion Gas

The following table presents Dominion Gas' assets and liabilities for derivatives that are measured at fair value on a recurring basis for each hierarchy level, including both current and noncurrent portions:

	Level 1		Level 2		Level 3		Total
(millions)
At March 31, 2015
Assets:
Commodity	$	—	$	3	$	—	$	3
Total Assets	$	—	$	3	$	—	$	3
Liabilities:
Commodity	$	—	$	3	$	—	$	3
Interest rate	—		13		—		13
Total liabilities	$	—	$	16	$	—	$	16
At December 31, 2014
Assets:
Commodity	$	—	$	—	$	2	$	2
Total Assets	$	—	$	—	$	2	$	2
Liabilities:
Interest rate	$	—	$	9	$	—	$	9
Total liabilities	$	—	$	9	$	—	$	9

The following table presents the net change in Dominion Gas' assets and liabilities for derivatives measured at fair value on a recurring basis and included in the Level 3 fair value category:

	Three Months Ended March 31,
	2015			2014
(millions)
Beginning balance	$	2		$	(6	)
Total realized and unrealized gains (losses):
Included in earnings	1			(5		)
Included in other comprehensive income (loss)	(11		)	4
Settlements	(1		)	5
Transfers out of Level 3(1)	9			—
Ending balance	$	—		$	(2	)

(1) In March 2015, Dominion changed the classification of NGL derivatives from Level 3 to Level 2 due to an increase in liquidity in financial forward markets. At March 31, 2015, $9 million of the transfers out of Level 3 relate to NGLs.

The gains and losses included in earnings in the Level 3 fair value category were classified in operating revenue in Dominion Gas' Consolidated Statements of Income for the three months ended March 31, 2015 and 2014. There were no unrealized gains or losses included in earnings in the Level 3 fair value category relating to assets/liabilities still held at the reporting date for the three months ended March 31, 2015 and 2014.

Fair Value of Financial Instruments

Substantially all of the Companies' financial instruments are recorded at fair value, with the exception of the instruments described below, which are reported at historical cost. Estimated fair values have been determined using available market information and valuation methodologies considered appropriate by management. The carrying amount of cash and cash equivalents, restricted cash (which is recorded in other current assets) customer and other receivables, short-term debt, affiliated current borrowings, payables to affiliates and accounts payable are representative of fair value because of the short-term nature of these instruments. For the Companies' financial instruments that are not recorded at fair value, the carrying amounts and estimated fair values are as follows:

	March 31, 2015				December 31, 2014
	Carrying Amount		Estimated Fair Value(1)		Carrying Amount		Estimated Fair Value(1)
(millions)
Dominion
Long-term debt, including securities due within one year(2)(3)	$	19,718	$	22,197	$	19,723	$	21,881
Junior subordinated notes(3)	1,373		1,405		1,374		1,396
Remarketable subordinated notes(3)	2,084		2,206		2,083		2,362
Virginia Power
Long-term debt, including securities due within one year(3)	$	8,936	$	10,441	$	8,937	$	10,293
Dominion Gas
Long-term debt(3)	$	2,594	$	2,720	$	2,594	$	2,672

(1) Fair value is estimated using market prices, where available, and interest rates currently available for issuance of debt with similar terms and remaining maturities. All fair value measurements are classified as Level 2. The carrying amount of debt issues with short-term maturities and variable rates refinanced at current market rates is a reasonable estimate of their fair value.

(2) At March 31, 2015 and December 31, 2014, includes the valuation of certain fair value hedges associated with fixed rate debt of approximately $15 million and $19 million, respectively.

(3) Carrying amount includes amounts which represent the unamortized discount and/or premium.

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Investments (Fair Value of our Marketable Debt Securities by Contractual Maturity) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015
Schedule of Held-to-maturity Securities [Line Items]
Due in one year or less	$ 233
Due after one year through five years	383
Due after five years through ten years	435
Due after ten years	505
Total	1,556
Virginia Electric and Power Company
Schedule of Held-to-maturity Securities [Line Items]
Due in one year or less	51
Due after one year through five years	168
Due after five years through ten years	245
Due after ten years	240
Total	$ 704

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Investments (Investments under Equity Method of Accounting) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Investment Balance	$ 1,085	$ 1,081	[1]
Dominion Gas Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Investment Balance	103	107
Dominion Gas Holdings, LLC | Iroquois
Schedule of Equity Method Investments [Line Items]
Ownership%	24.72%
Investment Balance	$ 103	$ 107

[1] Dominion’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

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Investments (Marketable Equity and Debt Securities and Cash Equivalents (Classified as Available-for-sale) and Cost Method Investments in Decommissioning Trust Funds) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Investment Holdings [Line Items]
Amortized Cost, Total	$ 2,844		$ 2,794
Total Unrealized Gains	1,402	[1]	1,408	[1]
Total Unrealized Losses	(2)	[1],[2]	(6)	[1],[2]
Nuclear decommissioning trust funds	4,244		4,196	[3]
Net assets related to pending sales and purchases of securities	3		3
Fair Value of securities in an unrealized loss position	239		379
Cost method investments
Investment Holdings [Line Items]
Amortized Cost, Other Investments	77		86
Total Unrealized Gains	0	[1]	0	[1]
Total Unrealized Losses	0	[1]	0	[1]
Nuclear decommissioning trust funds	77		86
Cash Equivalents and Other Investment
Investment Holdings [Line Items]
Amortized Cost, Other Investments	8	[4]	16	[4]
Total Unrealized Gains	0	[1],[4]	0	[1],[4]
Total Unrealized Losses	0	[1],[4]	0	[1],[4]
Nuclear decommissioning trust funds	8	[4]	16	[4]
Equity Securities | U.S. large cap | U.S.:
Investment Holdings [Line Items]
Amortized Cost, Marketable Securities	1,265		1,273
Total Unrealized Gains	1,338	[1]	1,353	[1]
Total Unrealized Losses	0	[1]	0	[1]
Nuclear decommissioning trust funds	2,603		2,626
Corporate bonds
Investment Holdings [Line Items]
Amortized Cost, Marketable Securities	440		424
Total Unrealized Gains	23	[1]	19	[1]
Total Unrealized Losses	(1)	[1]	(2)	[1]
Nuclear decommissioning trust funds	462		441
U.S. Treasury securities and agency debentures
Investment Holdings [Line Items]
Amortized Cost, Marketable Securities	576		597
Total Unrealized Gains	17	[1]	13	[1]
Total Unrealized Losses	(1)	[1]	(4)	[1]
Nuclear decommissioning trust funds	592		606
State and municipal
Investment Holdings [Line Items]
Amortized Cost, Marketable Securities	356		332
Total Unrealized Gains	24	[1]	23	[1]
Total Unrealized Losses	0	[1]	0	[1]
Nuclear decommissioning trust funds	380		355
Other
Investment Holdings [Line Items]
Amortized Cost, Marketable Securities	122		66
Total Unrealized Gains	0	[1]	0	[1]
Total Unrealized Losses	0	[1]	0	[1]
Nuclear decommissioning trust funds	122		66
Virginia Electric and Power Company
Investment Holdings [Line Items]
Amortized Cost, Total	1,331		1,314
Total Unrealized Gains	620	[1]	619	[1]
Total Unrealized Losses	(1)	[1],[5]	(3)	[1],[5]
Nuclear decommissioning trust funds	1,950		1,930	[6]
Net assets related to pending sales and purchases of securities	4		6
Fair Value of securities in an unrealized loss position	120		170
Virginia Electric and Power Company | Cost method investments
Investment Holdings [Line Items]
Amortized Cost, Other Investments	77		86
Total Unrealized Gains	0	[1]	0	[1]
Total Unrealized Losses	0	[1]	0	[1]
Nuclear decommissioning trust funds	77		86
Virginia Electric and Power Company | Cash Equivalents and Other Investment
Investment Holdings [Line Items]
Amortized Cost, Other Investments	4	[7]	6	[7]
Total Unrealized Gains	0	[1],[7]	0	[1],[7]
Total Unrealized Losses	0	[1],[7]	0	[1],[7]
Nuclear decommissioning trust funds	4	[7]	6	[7]
Virginia Electric and Power Company | Equity Securities | U.S. large cap | U.S.:
Investment Holdings [Line Items]
Amortized Cost, Marketable Securities	573		563
Total Unrealized Gains	592	[1]	594	[1]
Total Unrealized Losses	0	[1]	0	[1]
Nuclear decommissioning trust funds	1,165		1,157
Virginia Electric and Power Company | Corporate bonds
Investment Holdings [Line Items]
Amortized Cost, Marketable Securities	247		242
Total Unrealized Gains	11	[1]	9	[1]
Total Unrealized Losses	0	[1]	(1)	[1]
Nuclear decommissioning trust funds	258		250
Virginia Electric and Power Company | U.S. Treasury securities and agency debentures
Investment Holdings [Line Items]
Amortized Cost, Marketable Securities	190		197
Total Unrealized Gains	3	[1]	3	[1]
Total Unrealized Losses	(1)	[1]	(2)	[1]
Nuclear decommissioning trust funds	192		198
Virginia Electric and Power Company | State and municipal
Investment Holdings [Line Items]
Amortized Cost, Marketable Securities	209		197
Total Unrealized Gains	14	[1]	13	[1]
Total Unrealized Losses	0	[1]	0	[1]
Nuclear decommissioning trust funds	223		210
Virginia Electric and Power Company | Other
Investment Holdings [Line Items]
Amortized Cost, Marketable Securities	31		23
Total Unrealized Gains	0	[1]	0	[1]
Total Unrealized Losses	0	[1]	0	[1]
Nuclear decommissioning trust funds	$ 31		$ 23

[1] Included in AOCI and the nuclear decommissioning trust regulatory liability.

[2] The fair value of securities in an unrealized loss position was $239 million and $379 million at March 31, 2015 and December 31, 2014, respectively.

[3] Dominion’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

[4] Includes pending sales of securities of $3 million at both March 31, 2015 and December 31, 2014.

[5] The fair value of securities in an unrealized loss position was $120 million and $170 million at March 31, 2015 and December 31, 2014, respectively.

[6] Virginia Power’s Consolidated Balance Sheet at December 31, 2014 has been derived from the audited Consolidated Financial Statements at that date.

[7] Includes pending sales of securities of $4 million and $6 million at March 31, 2015 and December 31, 2014, respectively.

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Derivatives and Hedge Accounting Activities (Tables)

3 Months Ended

Mar. 31, 2015

Derivative [Line Items]

Offsetting Assets

The tables below present Dominion's derivative asset and liability balances by type of financial instrument, before and after the effects of offsetting:

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	18	$	—	$	18	$	24	$	—	$	24
Commodity contracts:
Over-the-counter	323		—		323		382		—		382
Exchange	326		—		326		298		—		298
Total derivatives, subject to a master netting or similar arrangement	667		—		667		704		—		704
Total derivatives, not subject to a master netting or similar arrangement	12		—		12		15		—		15
Total	$	679	$	—	$	679	$	719	$	—	$	719

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	18	$	18	$	—	$	—	$	24	$	16	$	—	$	8
Commodity contracts:
Over-the-counter	323		45		—		278		382		34		34		314
Exchange	326		326		—		—		298		298		—		—
Total	$	667	$	389	$	—	$	278	$	704	$	348	$	34	$	322

Offsetting Liabilities

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	307	$	—	$	307	$	202	$	—	$	202
Commodity contracts:
Over-the-counter	83		—		83		87		—		87
Exchange	364		—		364		493		—		493
Total derivatives, subject to a master netting or similar arrangement	754		—		754		782		—		782
Total derivatives, not subject to a master netting or similar arrangement	11		—		11		12		—		12
Total	$	765	$	—	$	765	$	794	$	—	$	794

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	307	$	18	$	—	$	289	$	202	$	16	$	—	$	186
Commodity contracts:
Over-the-counter	83		45		—		38		87		34		1		52
Exchange	364		326		38		—		493		298		195		—
Total	$	754	$	389	$	38	$	327	$	782	$	348	$	196	$	238

Volumes of Derivative Activity

The following table presents the volume of Dominion’s derivative activity as of March 31, 2015. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of their long and short positions.

	Current		Noncurrent
Natural Gas (bcf):
Fixed price(1)	55		10
Basis	224		558
Electricity (MWh):
Fixed price	13,610,507		7,505,325
FTRs	14,994,541		—
Capacity (MW)	15,250		3,050
Liquids (Gal)(2)	77,280,000		2,016,000
Interest rate	$	2,550,000,000	$	4,000,000,000

(1) Includes options.

(2) Includes NGLs and oil.

Cash Flow Hedges Included Accumulated Other Comprehensive Income (Loss)

The following table presents selected information related to gains (losses) on cash flow hedges included in AOCI in Dominion’s Consolidated Balance Sheet at March 31, 2015:

	AOCI After-Tax			Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax			Maximum Term
(millions)
Commodities:
Gas	$	(5	)	$	(5	)	25 months
Electricity	89			32			21 months
Other	—			(1		)	14 months
Interest rate	(261		)	(6		)	393 months
Total	$	(177	)	$	20

Fair Value of Derivatives

The following table presents the fair values of Dominion’s derivatives and where they are presented in its Consolidated Balance Sheets:

	Fair Value – Derivatives under Hedge  Accounting		Fair Value – Derivatives not under Hedge  Accounting		Total Fair Value
(millions)
At March 31, 2015
ASSETS
Current Assets
Commodity	$	298	$	109	$	407
Interest rate	13		—		13
Total current derivative assets(1)	311		109		420
Noncurrent Assets
Commodity	140		114		254
Interest rate	5		—		5
Total noncurrent derivative assets(2)	145		114		259
Total derivative assets	$	456	$	223	$	679
LIABILITIES
Current Liabilities
Commodity	$	253	$	118	$	371
Interest rate	229		—		229
Total current derivative liabilities	482		118		600
Noncurrent Liabilities
Commodity	48		39		87
Interest Rate	78		—		78
Total noncurrent derivative liabilities(3)	126		39		165
Total derivative liabilities	$	608	$	157	$	765
At December 31, 2014
ASSETS
Current Assets
Commodity	$	281	$	242	$	523
Interest rate	13		—		13
Total current derivative assets(1)	294		242		536
Noncurrent Assets
Commodity	71		101		172
Interest rate	11		—		11
Total noncurrent derivative assets(2)	82		101		183
Total derivative assets	$	376	$	343	$	719
LIABILITIES
Current Liabilities
Commodity	$	224	$	267	$	491
Interest rate	100		—		100
Total current derivative liabilities	324		267		591
Noncurrent Liabilities
Commodity	55		46		101
Interest rate	102		—		102
Total noncurrent derivative liabilities(3)	157		46		203
Total derivative liabilities	$	481	$	313	$	794

(1) Current derivative assets are presented in other current assets in Dominion's Consolidated Balance Sheets.     

(2) Noncurrent derivative assets are presented in other deferred charges and other assets in Dominion’s Consolidated Balance Sheets.

(3) Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Dominion’s Consolidated Balance Sheets.

Gains and Losses on Derivatives in Cash Flow Hedging Relationships

The following tables present the gains and losses on Dominion's derivatives, as well as where the associated activity is presented in its Consolidated Balance Sheets and Statements of Income:

Derivatives in cash flow hedging relationships	Amount of Gain (Loss)  Recognized in AOCI  on Derivatives (Effective Portion)(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)
(millions)
Three Months Ended March 31, 2015
Derivative Type and Location of Gains (Losses)
Commodity:
Operating revenue				$	(92	)
Purchased gas				(5		)
Electric fuel and other energy-related purchases				1
Total commodity	$	(41	)	$	(96	)	$	3
Interest rate(3)	(58		)	(2		)	(49		)
Total	$	(99	)	$	(98	)	$	(46	)
Three Months Ended March 31, 2014
Derivative Type and Location of Gains (Losses)
Commodity:
Operating revenue				$	(269	)
Purchased gas				(1		)
Electric fuel and other energy-related purchases				13
Total commodity	$	(183	)	$	(257	)	$	2
Interest rate(3)	(47		)	(3		)	(23		)
Total	$	(230	)	$	(260	)	$	(21	)

(1) Amounts deferred into AOCI have no associated effect in Dominion’s Consolidated Statements of Income.

(2) Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Dominion’s Consolidated Statements of Income.

(3) Amounts recorded in Dominion’s Consolidated Statements of Income are classified in interest and related charges.

Schedule of Derivatives not Designated as Hedging Instruments

	Amount of Gain (Loss) Recognized in Income on Derivatives(1)
	Three Months Ended March 31,
Derivatives not designated as hedging instruments	2015			2014
(millions)
Derivative Type and Location of Gains (Losses)
Commodity
Operating revenue	$	3		$	(361	)
Purchased gas	(2		)	7
Electric fuel and other energy-related purchases	6			133
Total	$	7		$	(221	)

(1) Includes derivative activity amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Dominion’s Consolidated Statements of Income.

Virginia Electric and Power Company

Derivative [Line Items]

Offsetting Assets

The tables below present Virginia Power's derivative asset and liability balances by type of financial instrument, before and after the effects of offsetting:

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet
(millions)
Commodity contracts:
Over-the-counter	$	82	$	—	$	82	$	106	$	—	$	106
Total derivatives, subject to a master netting or similar arrangement	82		—		82		106		—		106
Total derivatives, not subject to a master netting or similar arrangement	24		—		24		7		—		7
Total	$	106	$	—	$	106	$	113	$	—	$	113

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
Commodity contracts:
Over-the-counter	$	82	$	4	$	—	$	78	$	106	$	4	$	—	$	102
Total	$	82	$	4	$	—	$	78	$	106	$	4	$	—	$	102

Offsetting Liabilities

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	128	$	—	$	128	$	72	$	—	$	72
Commodity contracts:
Over-the-counter	5		—		5		8		—		8
Total derivatives, subject to a master netting or similar arrangement	133		—		133		80		—		80
Total derivatives, not subject to a master netting or similar arrangement	6		—		6		7		—		7
Total	$	139	$	—	$	139	$	87	$	—	$	87

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	128	$	—	$	—	$	128	$	72	$	—	$	—	$	72
Commodity contracts:
Over-the-counter	5		4		—		1		8		4		—		4
Total	$	133	$	4	$	—	$	129	$	80	$	4	$	—	$	76

Volumes of Derivative Activity

The following table presents the volume of Virginia Power’s derivative activity as of March 31, 2015. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of their long and short positions.

	Current		Noncurrent
Natural Gas (bcf):
Fixed price(1)	12		—
Basis	84		493
Electricity (MWh):
FTRs	13,486,569		—
Capacity (MW)	15,250		3,050
Interest rate	$	1,000,000,000	$	750,000,000

(1) Includes options.

Fair Value of Derivatives

The following table presents the fair values of Virginia Power’s derivatives and where they are presented in its Consolidated

Balance Sheets:

	Fair Value – Derivatives under Hedge  Accounting		Fair Value – Derivatives not under Hedge  Accounting		Total Fair Value
(millions)
At March 31, 2015
ASSETS
Current Assets
Commodity	$	—	$	28	$	28
Total current derivative assets(1)	—		28		28
Noncurrent Assets
Commodity	—		78		78
Total noncurrent derivative assets(2)	—		78		78
Total derivative assets	$	—	$	106	$	106
LIABILITIES
Current Liabilities
Commodity	$	1	$	10	$	11
Interest rate	96		—		96
Total current derivative liabilities(3)	97		10		107
Noncurrent Liabilities
Interest rate	32		—		32
Total noncurrent derivatives liabilities (4)	32		—		32
Total derivative liabilities	$	129	$	10	$	139
December 31, 2014
ASSETS
Current Assets
Commodity	$	—	$	51	$	51
Total current derivative assets(1)	—		51		51
Noncurrent Assets
Commodity	—		62		62
Total noncurrent derivative assets(2)	—		62		62
Total derivative assets	$	—	$	113	$	113
LIABILITIES
Current Liabilities
Commodity	$	3	$	12	$	15
Interest rate	45		—		45
Total current derivative liabilities(3)	48		12		60
Noncurrent Liabilities
Interest rate	27		—		27
Total noncurrent derivative liabilities(4)	27		—		27
Total derivative liabilities	$	75	$	12	$	87

(1) Current derivative assets are presented in other current assets in Virginia Power's Consolidated Balance Sheets.

(2) Noncurrent derivative assets are presented in other deferred charges and other assets in Virginia Power's Consolidated Balance Sheets.

(3) Current derivative liabilities are presented in other current liabilities in Virginia Power's Consolidated Balance Sheets.

(4) Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Virginia Power’s Consolidated Balance Sheets.

Gains and Losses on Derivatives in Cash Flow Hedging Relationships

The following tables present the gains and losses on Virginia Power's derivatives, as well as where the associated activity is presented in its Consolidated Balance Sheets and Statements of Income:

Derivatives in cash flow hedging relationships	Amount of Gain (Loss)  Recognized in AOCI  on Derivatives (Effective Portion)(1)			Amount of Gain (Loss) Reclassified from AOCI to Income			Increase (Decrease) in Derivatives Subject to Regulatory Treatment(2)
(millions)
Three Months Ended March 31, 2015
Derivative Type and Location of Gains (Losses)
Commodity:
Electric fuel and other energy-related purchases				$	(1	)
Total commodity	$	—		$	(1	)	$	3
Interest rate(3)	(6		)	—			(49		)
Total	$	(6	)	$	(1	)	$	(46	)
Three Months Ended March 31, 2014
Derivative Type and Location of Gains (Losses)
Commodity:
Electric fuel and other energy-related purchases				$	5
Total commodity	$	6		$	5		$	2
Interest rate(3)	(3		)	—			(23		)
Total	$	3		$	5		$	(21	)

(1) Amounts deferred into AOCI have no associated effect in Virginia Power’s Consolidated Statements of Income.

(2) Represents net derivative activity deferred into and amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Virginia Power’s Consolidated Statements of Income.

(3) Amounts recorded in Virginia Power’s Consolidated Statements of Income are classified in interest and related charges.

Schedule of Derivatives not Designated as Hedging Instruments

	Amount of Gain (Loss) Recognized in Income on Derivatives(1)
	Three Months Ended March 31,
Derivatives not designated as hedging instruments	2015		2014
(millions)
Derivative Type and Location of Gains (Losses)
Commodity(2)	$	7	$	119
Total	$	7	$	119

(1) Includes derivative activity amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated effect in Virginia Power’s Consolidated Statements of Income.

(2) Amounts recorded in Virginia Power's Consolidated Statements of Income are classified in electric fuel and other energy-related purchases.

Dominion Gas Holdings, LLC

Derivative [Line Items]

Offsetting Assets

The tables below present Dominion Gas' derivative asset and liability balances by type of financial instrument, before and after the effects of offsetting.

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets Presented in the Consolidated Balance Sheet
(millions)
Commodity contracts:
Over-the-counter	$	3	$	—	$	3	$	2	$	—	$	2
Total derivatives, subject to a master netting or similar arrangement	$	3	$	—	$	3	$	2	$	—	$	2

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts		Net Amounts of Assets Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amounts
(millions)
Commodity contracts:
Over-the-counter	$	3	$	3	$	—	$	—	$	2	$	—	$	—	$	2
Total	$	3	$	3	$	—	$	—	$	2	$	—	$	—	$	2

Offsetting Liabilities

	March 31, 2015						December 31, 2014
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet
(millions)
Interest rate contracts:
Over-the-counter	$	13	$	—	$	13	$	9	$	—	$	9
Commodity contracts:
Over-the-counter	3		—		3		—		—		—
Total derivatives, subject to a master netting or similar arrangement	$	16	$	—	$	16	$	9	$	—	$	9

			March 31, 2015								December 31, 2014
			Gross Amounts Not Offset in the Consolidated Balance Sheet								Gross Amounts Not Offset in the Consolidated Balance Sheet
	Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts		Net Amounts of Liabilities Presented in the Consolidated Balance Sheet		Financial Instruments		Cash Collateral Paid		Net Amounts
(millions)
Interest rate contracts:
Over-the-counter	$	13	$	—	$	—	$	13	$	9	$	—	$	—	$	9
Commodity contracts:
Over-the-counter	3		3		—		—		—		—		—		—
Total	$	16	$	3	$	—	$	13	$	9	$	—	$	—	$	9

Volumes of Derivative Activity

The following table presents the volume of Dominion Gas' derivative activity as of March 31, 2015. These volumes are based on open derivative positions and represent the combined absolute value of their long and short positions, except in the case of offsetting transactions, for which they represent the absolute value of the net volume of their long and short positions.

	Current		Noncurrent
Natural Gas (bcf):
Fixed price	7		—
Basis	8		—
NGLs (Gal)	72,912,000		—
Interest rate	$	—	$	250,000,000

Cash Flow Hedges Included Accumulated Other Comprehensive Income (Loss)

The following table presents selected information related to losses on cash flow hedges included in AOCI in Dominion Gas' Consolidated Balance Sheet at March 31, 2015:

	AOCI After-Tax			Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax		Maximum Term
(millions)
Commodities:
NGLs	$	(1	)	$	—	12 months
Interest rate	(23		)	—		357 months
Total	$	(24	)	$	—

Fair Value of Derivatives

The following tables present the fair values of Dominion Gas' commodity and interest rate derivatives and where they are presented in its Consolidated Balance Sheets:

	Fair Value  - Derivatives under Hedge Accounting		Fair Value - Derivatives not under Hedge Accounting		Total Fair Value
(millions)
At March 31, 2015
ASSETS
Current Assets
Commodity	$	2	$	1	$	3
Total current derivative assets(1)	2		1		3
Total derivative assets	$	2	$	1	$	3
LIABILITIES
Current Liabilities
Commodity	$	3	$	—	$	3
Total current derivative liabilities(2)	3		—		3
Noncurrent Liabilities
Interest rate	13		—		13
Total noncurrent derivative liabilities(3)	13		—		13
Total derivative liabilities	$	16	$	—	$	16
At December 31, 2014
ASSETS
Current Assets
Commodity	$	2	$	—	$	2
Total current derivative assets(1)	2		—		2
Total derivative assets	$	2	$	—	$	2
LIABILITIES
Noncurrent Liabilities
Interest rate	$	9	$	—	$	9
Total noncurrent derivative liabilities(3)	9		—		9
Total derivative liabilities	$	9	$	—	$	9

(1) Current derivative assets are presented in other current assets in Dominion Gas' Consolidated Balance Sheets.

(2) Current derivative liabilities are presented in other current liabilities in Dominion Gas' Consolidated Balance Sheets.

(3) Noncurrent derivative liabilities are presented in other deferred credits and other liabilities in Dominion Gas’ Consolidated Balance Sheets.

Gains and Losses on Derivatives in Cash Flow Hedging Relationships

The following table presents the gains and losses on Dominion Gas' derivatives, as well as where the associated activity is presented in its Consolidated Balance Sheets and Statements of Income:

Derivatives in cash flow hedging relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)(1)			Amount of Gain (Loss) Reclassified from AOCI to Income
(millions)
Three Months Ended March 31, 2015
Derivative Type and Location of Gains (Losses)
Commodity
Operating revenue				$	—
Total commodity	$	(2	)	$	—
Interest rate(2)	(4		)	—
Total	$	(6	)	$	—
Three Months Ended March 31, 2014
Derivative Type and Location of Gains (Losses)
Commodity
Operating revenue				$	(6	)
Purchased gas				(2		)
Total commodity	$	1		$	(8	)
Interest rate(2)	(14		)	—
Total	$	(13	)	$	(8	)

(1) Amounts deferred into AOCI have no associated effect in Dominion Gas' Consolidated Statements of Income.

(2) Amounts recorded in Dominion Gas' Consolidated Statements of Income are classified in interest and related charges.

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Fair Value Measurements (Assets and Liabilities that are Measured at Fair Value on a Recurring Basis) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	$ 679		$ 719
Derivative Liabilities	765		794
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	94
Derivative Liabilities	18
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	4,959	[1]	4,938	[1]
Total liabilities	765		794
Fair Value, Measurements, Recurring | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	661		695
Derivative Liabilities	458		592
Fair Value, Measurements, Recurring | Interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	18		24
Derivative Liabilities	307		202
Fair Value, Measurements, Recurring | Equity securities: | Large cap | U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	2,647	[1]	2,669	[1]
Fair Value, Measurements, Recurring | Equity securities: | Large cap | Non-U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	12	[1]	12	[1]
Fair Value, Measurements, Recurring | Equity securities: | Other | U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	7	[1]	6	[1]
Fair Value, Measurements, Recurring | Fixed income: | Corporate debt instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	462	[1]	441	[1]
Fair Value, Measurements, Recurring | Fixed income: | U.S. Treasury securities and agency debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	594	[1]	609	[1]
Fair Value, Measurements, Recurring | Fixed income: | State and municipal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	423	[1]	395	[1]
Fair Value, Measurements, Recurring | Fixed income: | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	130	[1]	74	[1]
Fair Value, Measurements, Recurring | Cash equivalents and other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	5	[1]	13	[1]
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	3,077	[1]	3,112	[1]
Total liabilities	3		3
Fair Value, Measurements, Recurring | Level 1 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	3		3
Derivative Liabilities	3		3
Fair Value, Measurements, Recurring | Level 1 | Interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0		0
Derivative Liabilities	0		0
Fair Value, Measurements, Recurring | Level 1 | Equity securities: | Large cap | U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	2,647	[1]	2,669	[1]
Fair Value, Measurements, Recurring | Level 1 | Equity securities: | Large cap | Non-U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	12	[1]	12	[1]
Fair Value, Measurements, Recurring | Level 1 | Equity securities: | Other | U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	7	[1]	6	[1]
Fair Value, Measurements, Recurring | Level 1 | Fixed income: | Corporate debt instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Fair Value, Measurements, Recurring | Level 1 | Fixed income: | U.S. Treasury securities and agency debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	407	[1]	419	[1]
Fair Value, Measurements, Recurring | Level 1 | Fixed income: | State and municipal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Fair Value, Measurements, Recurring | Level 1 | Fixed income: | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Fair Value, Measurements, Recurring | Level 1 | Cash equivalents and other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	1	[1]	3	[1]
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1,788	[1]	1,701	[1]
Total liabilities	744		773
Fair Value, Measurements, Recurring | Level 2 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	564		567
Derivative Liabilities	437		571
Fair Value, Measurements, Recurring | Level 2 | Interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	18		24
Derivative Liabilities	307		202
Fair Value, Measurements, Recurring | Level 2 | Equity securities: | Large cap | U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Fair Value, Measurements, Recurring | Level 2 | Equity securities: | Large cap | Non-U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Fair Value, Measurements, Recurring | Level 2 | Equity securities: | Other | U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Fair Value, Measurements, Recurring | Level 2 | Fixed income: | Corporate debt instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	462	[1]	441	[1]
Fair Value, Measurements, Recurring | Level 2 | Fixed income: | U.S. Treasury securities and agency debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	187	[1]	190	[1]
Fair Value, Measurements, Recurring | Level 2 | Fixed income: | State and municipal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	423	[1]	395	[1]
Fair Value, Measurements, Recurring | Level 2 | Fixed income: | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	130	[1]	74	[1]
Fair Value, Measurements, Recurring | Level 2 | Cash equivalents and other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	4	[1]	10	[1]
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	94	[1]	125	[1]
Total liabilities	18		18
Fair Value, Measurements, Recurring | Level 3 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	94		125
Derivative Liabilities	18		18
Fair Value, Measurements, Recurring | Level 3 | Interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0		0
Derivative Liabilities	0		0
Fair Value, Measurements, Recurring | Level 3 | Equity securities: | Large cap | U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Fair Value, Measurements, Recurring | Level 3 | Equity securities: | Large cap | Non-U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Fair Value, Measurements, Recurring | Level 3 | Equity securities: | Other | U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Fair Value, Measurements, Recurring | Level 3 | Fixed income: | Corporate debt instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Fair Value, Measurements, Recurring | Level 3 | Fixed income: | U.S. Treasury securities and agency debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Fair Value, Measurements, Recurring | Level 3 | Fixed income: | State and municipal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Fair Value, Measurements, Recurring | Level 3 | Fixed income: | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Fair Value, Measurements, Recurring | Level 3 | Cash equivalents and other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	106		113
Derivative Liabilities	139		87
Virginia Electric and Power Company | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	82
Derivative Liabilities	4
Virginia Electric and Power Company | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1,977	[1]	1,952	[1]
Total liabilities	139		87
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	106		113
Derivative Liabilities	11		15
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities	128		72
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Equity securities: | Large cap | U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	1,166	[1]	1,157	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Fixed income: | Corporate debt instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	258	[1]	250	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Fixed income: | U.S. Treasury securities and agency debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	192	[1]	198	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Fixed income: | State and municipal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	224	[1]	211	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Fixed income: | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	31	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Cash equivalents and other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments			23	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1,295	[1]	1,294	[1]
Total liabilities	0		0
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 1 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0		0
Derivative Liabilities	0		0
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 1 | Interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities	0		0
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 1 | Equity securities: | Large cap | U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	1,166	[1]	1,157	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 1 | Fixed income: | Corporate debt instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 1 | Fixed income: | U.S. Treasury securities and agency debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	129	[1]	137	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 1 | Fixed income: | State and municipal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 1 | Fixed income: | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 1 | Cash equivalents and other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments			0	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	600	[1]	552	[1]
Total liabilities	135		83
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 2 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	24		7
Derivative Liabilities	7		11
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 2 | Interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities	128		72
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 2 | Equity securities: | Large cap | U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 2 | Fixed income: | Corporate debt instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	258	[1]	250	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 2 | Fixed income: | U.S. Treasury securities and agency debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	63	[1]	61	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 2 | Fixed income: | State and municipal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	224	[1]	211	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 2 | Fixed income: | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	31	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 2 | Cash equivalents and other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments			23	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	82	[1]	106	[1]
Total liabilities	4		4
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 3 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	82		106
Derivative Liabilities	4		4
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 3 | Interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities	0		0
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 3 | Equity securities: | Large cap | U.S.:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 3 | Fixed income: | Corporate debt instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 3 | Fixed income: | U.S. Treasury securities and agency debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 3 | Fixed income: | State and municipal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]	0	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 3 | Fixed income: | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	[1]
Virginia Electric and Power Company | Fair Value, Measurements, Recurring | Level 3 | Cash equivalents and other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments			0	[1]
Dominion Gas Holdings, LLC | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	3		2
Total liabilities	16
Dominion Gas Holdings, LLC | Fair Value, Measurements, Recurring | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	3		2
Derivative Liabilities	3		9
Dominion Gas Holdings, LLC | Fair Value, Measurements, Recurring | Interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities	13		9
Dominion Gas Holdings, LLC | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0		0
Total liabilities	0
Dominion Gas Holdings, LLC | Fair Value, Measurements, Recurring | Level 1 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0		0
Derivative Liabilities	0		0
Dominion Gas Holdings, LLC | Fair Value, Measurements, Recurring | Level 1 | Interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities	0		0
Dominion Gas Holdings, LLC | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	3		0
Total liabilities	16
Dominion Gas Holdings, LLC | Fair Value, Measurements, Recurring | Level 2 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	3		0
Derivative Liabilities	3		9
Dominion Gas Holdings, LLC | Fair Value, Measurements, Recurring | Level 2 | Interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities	13		9
Dominion Gas Holdings, LLC | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0		2
Total liabilities	0
Dominion Gas Holdings, LLC | Fair Value, Measurements, Recurring | Level 3 | Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0		2
Derivative Liabilities	0		0
Dominion Gas Holdings, LLC | Fair Value, Measurements, Recurring | Level 3 | Interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liabilities	$ 0		$ 0

[1] Includes investments held in the nuclear decommissioning and rabbi trusts.

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Variable Interest Entities

3 Months Ended

Mar. 31, 2015

Variable Interest Entities [Abstract]

Variable Interest Entities

Variable Interest Entities

As discussed in Note 15 to the Consolidated Financial Statements in the Companies' Annual Report on Form 10-K for the year ended December 31, 2014, certain variable pricing terms in some of the Companies’ contracts cause them to be considered variable interests in the counterparties.

Virginia Power

Virginia Power has long-term power and capacity contracts with five non-utility generators with an aggregate summer generation capacity of approximately 870 MW. These contracts contain certain variable pricing mechanisms in the form of partial fuel reimbursement that Virginia Power considers to be variable interests. After an evaluation of the information provided by these entities, Virginia Power was unable to determine whether they were VIEs. However, the information they provided, as well as Virginia Power's knowledge of generation facilities in Virginia, enabled Virginia Power to conclude that, if they were VIEs, it would not be the primary beneficiary. This conclusion reflects Virginia Power's determination that its variable interests do not convey the power to direct the most significant activities that impact the economic performance of the entities during the remaining terms of Virginia Power's contracts and for the years the entities are expected to operate after its contractual relationships expire. The contracts expire at various dates ranging from 2015 to 2021. Virginia Power is not subject to any risk of loss from these potential VIEs other than its remaining purchase commitments which totaled $585 million as of March 31, 2015. Virginia Power paid $53 million and $56 million for electric capacity and $37 million and $54 million for electric energy to these entities in the three months ended March 31, 2015 and 2014, respectively.

Virginia Power and Dominion Gas

Virginia Power and Dominion Gas purchased shared services from DRS, an affiliated VIE, of approximately $83 million and $28 million, and $83 million and $26 million for the three months ended March 31, 2015 and 2014, respectively. Virginia Power and Dominion Gas determined that each is not the most closely associated entity with DRS and therefore neither is the primary beneficiary. DRS provides accounting, legal, finance and certain administrative and technical services to all Dominion subsidiaries, including Virginia Power and Dominion Gas. Virginia Power and Dominion Gas have no obligation to absorb more than their allocated shares of DRS costs.

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Employee Benefit Plans

3 Months Ended

Mar. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Dominion

The components of Dominion's provision for net periodic benefit cost (credit) were as follows:

	Pension Benefits						Other Postretirement Benefits
	2015			2014			2015			2014
(millions)
Three Months Ended March 31,
Service cost	$	32		$	29		$	10		$	8
Interest cost	72			72			17			17
Expected return on plan assets	(133		)	(125		)	(29		)	(28		)
Amortization of prior service cost (credit)	—			1			(7		)	(7		)
Amortization of net actuarial loss	40			28			1			—
Net periodic benefit cost (credit)	$	11		$	5		$	(8	)	$	(10	)

Employer Contributions

During the three months ended March 31, 2015, Dominion made no contributions to its defined benefit pension plans or other postretirement benefit plans. Dominion expects to contribute approximately $12 million to its other postretirement benefit plans through VEBAs during the remainder of 2015.

Dominion Gas

Dominion Gas participates in certain Dominion benefit plans as described in Note 21 to the Consolidated Financial Statements in the Companies' Annual Report on Form 10-K for the year ended December 31, 2014. At March 31, 2015 and December 31, 2014, Dominion Gas’ amounts due from Dominion associated with the Dominion Pension Plan and reflected in noncurrent pension and other postretirement benefit assets in the Consolidated Balance Sheets were $623 million and $614 million, respectively. At March 31, 2015 and December 31, 2014, Dominion Gas’ amounts due to Dominion associated with the Dominion Retiree Health and Welfare Plan and reflected in other deferred credits and other liabilities in the Consolidated Balance Sheets were $6 million and $7 million, respectively.

The components of Dominion Gas' provision for net periodic benefit credit for employees represented by collective bargaining units were as follows:

	Pension Benefits						Other Postretirement Benefits
	2015			2014			2015			2014
(millions)
Three Months Ended March 31,
Service cost	$	3		$	3		$	2		$	1
Interest cost	7			7			3			3
Expected return on plan assets	(31		)	(29		)	(6		)	(5		)
Amortization of net actuarial loss	5			5			1			—
Net periodic benefit credit	$	(16	)	$	(14	)	$	—		$	(1	)

Employer Contributions

During the three months ended March 31, 2015, Dominion Gas made no contributions to its defined benefit pension plans or other postretirement benefit plans. Dominion Gas expects to contribute approximately $12 million to its other postretirement benefit plans through VEBAs, for both employees represented by collective bargaining units and employees not represented by collective bargaining units, during the remainder of 2015.

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Fair Value Measurements Fair Value Measurements (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Virginia Electric and Power Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gains or losses included in earnings in Level 3 fair value category	$ 0	$ 0
Dominion Gas Holdings, LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gains or losses included in earnings in Level 3 fair value category	$ 0	$ 0

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Operating Segments (Tables)

3 Months Ended

Mar. 31, 2015

Segment Reporting Information [Line Items]

Segment Reporting Disclosure Other Information

A description of the operations included in the Companies’ primary operating segments is as follows:

Primary Operating Segment	Description of Operations	Dominion	Virginia Power	Dominion Gas
DVP	Regulated electric distribution	X	X
	Regulated electric transmission	X	X
Dominion Generation	Regulated electric fleet	X	X
	Merchant electric fleet	X
	Nonregulated retail energy marketing	X
Dominion Energy	Gas transmission and storage(1)	X		X
	Gas distribution and storage	X		X
	Gas gathering and processing	X		X
	LNG import and storage	X

(1) Includes remaining producer services activities for Dominion.

Schedule of Segment Reporting Information, by Segment

The following table presents segment information pertaining to Dominion’s operations:

	DVP		Dominion Generation		Dominion Energy		Corporate and Other			Adjustments/Eliminations			Consolidated Total
(millions)
Three Months Ended March 31, 2015
Total revenue from external customers	$	564	$	2,122	$	379	$	(13	)	$	357		$	3,409
Intersegment revenue	5		26		360		142			(533		)	—
Total operating revenue	569		2,148		739		129			(176		)	3,409
Net income (loss) attributable to Dominion	140		282		207		(93		)	—			536
Three Months Ended March 31, 2014
Total revenue from external customers	$	502	$	2,260	$	362	$	(2	)	$	508		$	3,630
Intersegment revenue	2		24		489		147			(662		)	—
Total operating revenue	504		2,284		851		145			(154		)	3,630
Net income (loss) attributable to Dominion	131		309		208		(269		)	—			379

Virginia Electric and Power Company

Segment Reporting Information [Line Items]

Schedule of Segment Reporting Information, by Segment

The following table presents segment information pertaining to Virginia Power’s operations:

	DVP		Dominion Generation		Corporate and Other			Consolidated Total
(millions)
Three Months Ended March 31, 2015
Operating revenue	$	567	$	1,585	$	(15	)	$	2,137
Net income (loss)	140		190		(61		)	269
Three Months Ended March 31, 2014
Operating revenue	$	502	$	1,481	$	—		$	1,983
Net income	134		189		1			324

Dominion Gas Holdings, LLC

Segment Reporting Information [Line Items]

Schedule of Segment Reporting Information, by Segment

The following table presents segment information pertaining to Dominion Gas' operations:

	Dominion Energy		Corporate and Other			Consolidated Total
(millions)
Three Months Ended March 31, 2015
Operating revenue	$	531	$	—		$	531
Net income (loss)	164		(3		)	161
Three Months Ended March 31, 2014
Operating revenue	$	569	$	—		$	569
Net income (loss)	166		(2		)	164

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Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Net deferred gains (losses) on derivative-hedging activities, tax	$ 41	$ 80
Changes in unrealized net gains (losses) on investment securities, tax	(11)	(1)
Changes in unrecognized pension and other postretirement benefit costs, tax	0	(4)
Net derivative (gains) losses-hedging activities, tax	(39)	(100)
Net realized (gains) losses on investment securities, tax	12	7
Net pension and other postretirement benefit costs, tax	(9)	(6)
Virginia Electric and Power Company
Net deferred gains (losses) on derivative-hedging activities, tax	2	(1)
Changes in unrealized net gains (losses) on investment securities, tax	(1)	(2)
Net derivative (gains) losses-hedging activities, tax	0	2
Net realized (gains) losses on investment securities, tax	0	1
Dominion Gas Holdings, LLC
Net deferred gains (losses) on derivative-hedging activities, tax	2	5
Net derivative (gains) losses-hedging activities, tax	0	(3)
Net pension and other postretirement benefit costs, tax	$ (1)	$ (1)

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Significant Accounting Policies

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Significant Accounting Policies

Significant Accounting Policies

As permitted by the rules and regulations of the SEC, the Companies' accompanying unaudited Consolidated Financial Statements contain certain condensed financial information and exclude certain footnote disclosures normally included in annual audited consolidated financial statements prepared in accordance with GAAP. These unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes in the Companies' Annual Report on Form 10-K for the year ended December 31, 2014.

In the Companies' opinion, the accompanying unaudited Consolidated Financial Statements contain all adjustments necessary to present fairly their financial position as of March 31, 2015 and their results of operations and cash flows for the three months ended March 31, 2015 and 2014. Such adjustments are normal and recurring in nature unless otherwise noted.

The Companies make certain estimates and assumptions in preparing their Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates.

The Companies' accompanying unaudited Consolidated Financial Statements include, after eliminating intercompany transactions and balances, their accounts and those of their respective majority-owned subsidiaries. As of March 31, 2015, Dominion owns the general partner and 68.5% of the limited partner interests in Dominion Midstream, which owns a preferred equity interest and the general partner interest in Cove Point. The public’s ownership interest in Dominion Midstream is reflected as non-controlling interest in Dominion’s Consolidated Financial Statements.

The results of operations for interim periods are not necessarily indicative of the results expected for the full year. Information for quarterly periods is affected by seasonal variations in sales, rate changes, electric fuel and other energy-related purchases, purchased gas expenses and other factors.

Certain amounts in the Companies' 2014 Consolidated Financial Statements and Notes have been reclassified to conform to the 2015 presentation for comparative purposes. The reclassifications did not affect the Companies’ net income, total assets, liabilities, equity or cash flows.

Amounts disclosed for Dominion are inclusive of Virginia Power and/or Dominion Gas, where applicable.

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Derivatives and Hedge Accounting Activities (Selected Information Related to Gains (Losses) on Cash Flow Hedges Included in AOCI) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
AOCI After-Tax	$ (177)
Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax	20
Commodity | Gas Energy Contract
Derivative Instruments, Gain (Loss) [Line Items]
AOCI After-Tax	(5)
Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax	(5)
Maximum Term	25 months
Commodity | Electricity Energy Contract
Derivative Instruments, Gain (Loss) [Line Items]
AOCI After-Tax	89
Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax	32
Maximum Term	21 months
Commodity | Other Energy Contract
Derivative Instruments, Gain (Loss) [Line Items]
AOCI After-Tax	0
Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax	(1)
Maximum Term	14 months
Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
AOCI After-Tax	(261)
Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax	(6)
Maximum Term	393 months
Dominion Gas Holdings, LLC
Derivative Instruments, Gain (Loss) [Line Items]
AOCI After-Tax	(24)
Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax	0
Dominion Gas Holdings, LLC | Commodity | NGLs
Derivative Instruments, Gain (Loss) [Line Items]
AOCI After-Tax	(1)
Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax	0
Maximum Term	12 months
Dominion Gas Holdings, LLC | Interest rate
Derivative Instruments, Gain (Loss) [Line Items]
AOCI After-Tax	(23)
Amounts Expected to be Reclassified to Earnings during the next 12 Months After-Tax	$ 0
Maximum Term	357 months

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Regulatory Matters (Narrative) (Details) (USD $)	1 Months Ended						12 Months Ended
	May 31, 2012	Mar. 31, 2010	Apr. 30, 2008	Mar. 31, 2015	Feb. 28, 2015	Apr. 30, 2015 kV	Dec. 31, 2014	Dec. 31, 2018	Dec. 31, 2017
Virginia Electric and Power Company
Regulatory Matters [Line Items]
ROE (percentage)			11.40%
Costs claimed to be unjust and excluded from transmission formula rate		$ 223,000,000
Potential settlement required annual payment for 10 Years	250,000
Period for annual settlement payment	10 years
Virginia Electric and Power Company | Virginia Regulation
Regulatory Matters [Line Items]
Percentage ROE for combined test periods				10.13%
Jurisdictional projected fuel expenses					1,600,000,000
Approved decrease amount					512,000,000
Virginia Electric and Power Company | Virginia Regulation | Subsequent Event | Surry Switching Station Transmission Line
Regulatory Matters [Line Items]
Kilo Volt Line						500
Virginia Electric and Power Company | Virginia Regulation | Deferred Fuel Costs
Regulatory Matters [Line Items]
Percentage of deferred fuel costs written off							50.00%
Virginia Electric and Power Company | Virginia Regulation | Deferred Fuel Costs | Electric fuel and other energy-related purchases
Regulatory Matters [Line Items]
Write off of deferred fuel balances							85,000,000
Write off of deferred fuel balances, net of tax							52,000,000
Virginia Electric and Power Company | Virginia Regulation | Rider S
Regulatory Matters [Line Items]
Approved revenue requirement				245,000,000
Virginia Electric and Power Company | Virginia Regulation | Rider BW | Subsequent Event
Regulatory Matters [Line Items]
Approved revenue requirement						111,000,000
Virginia Electric and Power Company | Virginia Regulation | Rider R
Regulatory Matters [Line Items]
Approved revenue requirement				84,000,000
Virginia Electric and Power Company | Virginia Regulation | Riders C1A and C2A | Subsequent Event
Regulatory Matters [Line Items]
Approved decrease amount						7,000,000
Approved revenue requirement						37,000,000
Number of new energy efficiency programs						2
Term of energy efficiency programs						3 years
Combined cost cap of new energy efficiency programs						20,000,000
Virginia Electric and Power Company | Virginia Regulation | Rider B
Regulatory Matters [Line Items]
Approved revenue requirement				9,000,000
Number of power stations converted to biomass				3
East Ohio | Ohio Regulation | PIR Program
Regulatory Matters [Line Items]
Extension period of PIR program				5 years
Total annual investment				200,000,000
Percentage of capital investment increases				3.00%
Gross plant investment					155,000,000
Cumulative gross plant investment					829,000,000
Revenue requirement					108,000,000
East Ohio | Ohio Regulation | PIR Program | Scenario, Forecast
Regulatory Matters [Line Items]
Amount of investment increase								20,000,000	20,000,000
East Ohio | Ohio Regulation | AMR Program
Regulatory Matters [Line Items]
Projected revenue requirement					$ 8,000,000

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Operating Segments

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Operating Segments

Operating Segments

The Companies are organized primarily on the basis of products and services sold in the U.S. A description of the operations included in the Companies’ primary operating segments is as follows:

Primary Operating Segment	Description of Operations	Dominion	Virginia Power	Dominion Gas
DVP	Regulated electric distribution	X	X
	Regulated electric transmission	X	X
Dominion Generation	Regulated electric fleet	X	X
	Merchant electric fleet	X
	Nonregulated retail energy marketing	X
Dominion Energy	Gas transmission and storage(1)	X		X
	Gas distribution and storage	X		X
	Gas gathering and processing	X		X
	LNG import and storage	X

(1) Includes remaining producer services activities for Dominion.

In addition to the operating segments above, the Companies also report a Corporate and Other segment.

Dominion

The Corporate and Other Segment of Dominion includes its corporate, service company and other functions (including unallocated debt) and the net impact of operations that are discontinued or sold. In addition, Corporate and Other includes specific items attributable to Dominion's operating segments that are not included in profit measures evaluated by executive management in assessing the segments' performance or allocating resources among the segments.

In January 2014, Dominion announced it would exit the electric retail energy marketing business. Dominion completed the sale in March 2014. As a result, the earnings impact from the electric retail energy marketing business has been included in the Corporate and Other Segment of Dominion for 2014 first quarter results of operations.

In the second quarter of 2013, Dominion commenced a repositioning of its producer services business, which aggregates natural gas supply, engages in natural gas trading and marketing activities and natural gas supply management and provides price risk management services to Dominion affiliates. The repositioning was completed in the first quarter of 2014 and resulted in the termination of natural gas trading and certain energy marketing activities. As a result, the earnings impact from natural gas trading and certain energy marketing activities has been included in the Corporate and Other Segment of Dominion for 2014.

In the three months ended March 31, 2015, Dominion reported an after-tax net expense of $48 million for specific items in the Corporate and Other segment, with $45 million of these net expenses attributable to its operating segments. In the three months ended March 31, 2014, Dominion reported an after-tax net expense of $228 million for specific items in the Corporate and Other segment, with $217 million of these net expenses attributable to its operating segments.

The net expense for specific items in 2015 primarily related to the impact of the following items:

• An $85 million ($52 million after-tax) write-off of deferred fuel costs associated with Virginia legislation enacted in February 2015, attributable to Dominion Generation; and

• A $17 million ($10 million after-tax) billing adjustment related to PJM, attributable to Dominion Generation; partially offset by

• A $27 million ($17 million after-tax) net gain on investments held in nuclear decommissioning trust funds, attributable to Dominion Generation.

The net expense for specific items in 2014 primarily related to the impact of the following items:

• A $319 million ($193 million after-tax) net loss related to the producer services business discussed above, attributable to Dominion Energy; and

• A $47 million ($33 million after-tax) net loss related to the electric retail energy marketing business discussed above, including a $147 million ($90 million after-tax) loss from normal operations, partially offset by a $100 million ($57 million after-tax) gain on sale, net of a $31 million write-off of goodwill, attributable to Dominion Generation.

The following table presents segment information pertaining to Dominion’s operations:

	DVP		Dominion Generation		Dominion Energy		Corporate and Other			Adjustments/Eliminations			Consolidated Total
(millions)
Three Months Ended March 31, 2015
Total revenue from external customers	$	564	$	2,122	$	379	$	(13	)	$	357		$	3,409
Intersegment revenue	5		26		360		142			(533		)	—
Total operating revenue	569		2,148		739		129			(176		)	3,409
Net income (loss) attributable to Dominion	140		282		207		(93		)	—			536
Three Months Ended March 31, 2014
Total revenue from external customers	$	502	$	2,260	$	362	$	(2	)	$	508		$	3,630
Intersegment revenue	2		24		489		147			(662		)	—
Total operating revenue	504		2,284		851		145			(154		)	3,630
Net income (loss) attributable to Dominion	131		309		208		(269		)	—			379

Intersegment sales and transfers for Dominion are based on contractual arrangements and may result in intersegment profit or loss that is eliminated in consolidation.

Virginia Power

The Corporate and Other Segment of Virginia Power primarily includes specific items attributable to its operating segments that are not included in profit measures evaluated by executive management in assessing the segments' performance or allocating resources among the segments.

In the three months ended March 31, 2015, Virginia Power reported an after-tax net expense of $61 million for specific items in the Corporate and Other segment, all of which was attributable to its operating segments. There were no material net benefit or expense items in the Corporate and Other segment in the three months ended March 31, 2014.

The net expense for specific items in 2015 primarily related to the impact of the following items:

• An $85 million ($52 million after-tax) write-off of deferred fuel costs associated with Virginia legislation enacted in February 2015, attributable to Dominion Generation; and

• A $15 million ($9 million after-tax) billing adjustment related to PJM, attributable to Dominion Generation.

The following table presents segment information pertaining to Virginia Power’s operations:

	DVP		Dominion Generation		Corporate and Other			Consolidated Total
(millions)
Three Months Ended March 31, 2015
Operating revenue	$	567	$	1,585	$	(15	)	$	2,137
Net income (loss)	140		190		(61		)	269
Three Months Ended March 31, 2014
Operating revenue	$	502	$	1,481	$	—		$	1,983
Net income	134		189		1			324

Dominion Gas

The Corporate and Other Segment of Dominion Gas primarily includes specific items attributable to Dominion Gas' operating segment that are not included in profit measures evaluated by executive management in assessing the segment's performance and the effect of certain items recorded at Dominion Gas as a result of Dominion's basis in the net assets contributed.

In the three months ended March 31, 2015 and 2014, Dominion Gas reported no amounts for specific items in the Corporate and Other segment.

The following table presents segment information pertaining to Dominion Gas' operations:

	Dominion Energy		Corporate and Other			Consolidated Total
(millions)
Three Months Ended March 31, 2015
Operating revenue	$	531	$	—		$	531
Net income (loss)	164		(3		)	161
Three Months Ended March 31, 2014
Operating revenue	$	569	$	—		$	569
Net income (loss)	166		(2		)	164

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Commitments and Contingencies (Subsidiary Guarantees) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015 guarantee
Commitments and Contingencies [Line Items]
Stated Limit	$ 6,011,000,000
Value	1,388,000,000	[1]
Number of DEI subsidiaries	2
Minimum
Commitments and Contingencies [Line Items]
Annual future contributions	4,000,000
Maximum
Commitments and Contingencies [Line Items]
Annual future contributions	19,000,000
Third Party and Equity Method Investee
Commitments and Contingencies [Line Items]
Stated Limit	39,000,000
Cove Point
Commitments and Contingencies [Line Items]
Stated Limit	150,000,000
Number of guarantees with no stated limit	2
Number of guarantees	1
Aggregate limit	1,750,000,000
Annual draw limit	175,000,000
Subsidiary Debt
Commitments and Contingencies [Line Items]
Stated Limit	27,000,000	[2]
Value	27,000,000	[1],[2]
Commodity Transactions
Commitments and Contingencies [Line Items]
Stated Limit	2,816,000,000	[3]
Value	1,075,000,000	[1],[3]
Nuclear Obligations
Commitments and Contingencies [Line Items]
Stated Limit	199,000,000	[4]
Value	79,000,000	[1],[4]
Nuclear Obligations | Millstone
Commitments and Contingencies [Line Items]
Stated Limit	150,000,000
Nuclear Obligations | Kewaunee
Commitments and Contingencies [Line Items]
Stated Limit	60,000,000
Cove Point
Commitments and Contingencies [Line Items]
Stated Limit	1,910,000,000	[5]
Value	0	[1],[5]
Solar
Commitments and Contingencies [Line Items]
Stated Limit	531,000,000	[6]
Value	171,000,000	[1],[6]
Other
Commitments and Contingencies [Line Items]
Stated Limit	528,000,000	[7]
Value	36,000,000	[1],[7]
Through 2019 | Third Party and Equity Method Investee
Commitments and Contingencies [Line Items]
Stated Limit	$ 63,000,000

[1] Represents the estimated portion of the guarantee's stated limit that is utilized as of March 31, 2015 based upon prevailing economic conditions and fact patterns specific to each guarantee arrangement. For those guarantees related to obligations that are recorded as liabilities by Dominion's subsidiaries, the value includes the recorded amount.

[2] Guarantee of debt of a DEI subsidiary. In the event of default by the subsidiary, Dominion would be obligated to repay such amounts.

[3] Guarantees related to commodity commitments of certain subsidiaries, including subsidiaries of Virginia Power, Dominion Gas and DEI. These guarantees were provided to counterparties in order to facilitate physical and financial transactions in gas, oil, electricity, pipeline capacity, transportation and related commodities and services. If any of these subsidiaries fail to perform or pay under the contracts and the counterparties seek performance or payment, Dominion would be obligated to satisfy such obligation. Dominion and its subsidiaries receive similar guarantees as collateral for credit extended to others. The value provided includes certain guarantees that do not have stated limits.

[4] Guarantees related to certain DEI subsidiaries' potential retrospective premiums that could be assessed if there is a nuclear incident under Dominion's nuclear insurance programs and guarantees for a DEI subsidiary's and Virginia Power's commitment to buy nuclear fuel. Excludes Dominion's agreement to provide up to $150 million and $60 million to two DEI subsidiaries to pay the operating expenses of Millstone (in the event of a prolonged outage) and Kewaunee, respectively, as part of satisfying certain NRC requirements concerned with ensuring adequate funding for the operations of nuclear power stations. The agreement for Kewaunee also provides for funds through the completion of decommissioning.

[5] Guarantees related to Cove Point, in support of terminal services, transportation and construction. Two of the guarantees have no stated limit, one guarantee has a $150 million limit, and one guarantee has a $1.75 billion aggregate limit with an annual draw limit of $175 million.

[6] Includes guarantees to facilitate the development of solar projects including guarantees to support the issuance of full notice to proceed under EPC agreements. Includes certain guarantees that do not have stated limits. Also includes guarantees entered into by DEI on behalf of certain subsidiaries to facilitate the acquisition and development of solar projects.

[7] Guarantees related to other miscellaneous contractual obligations such as leases, environmental obligations and construction projects. Also includes guarantees related to certain DEI subsidiaries' obligations for equity capital contributions and energy generation associated with Fowler Ridge and NedPower. As of March 31, 2015, Dominion's maximum remaining cumulative exposure under these equity funding agreements is $63 million through 2019 and its maximum annual future contributions could range from approximately $4 million to $19 million. The value provided includes certain guarantees that do not have stated limits.

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Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Schedule Of Subsidiary Guarantees

At March 31, 2015, Dominion had issued the following subsidiary guarantees:

	Stated Limit		Value(1)
(millions)
Subsidiary debt(2)	$	27	$	27
Commodity transactions(3)	2,816		1,075
Nuclear obligations(4)	199		79
Cove Point(5)	1,910		—
Solar(6)	531		171
Other(7)	528		36
Total	$	6,011	$	1,388

(1) Represents the estimated portion of the guarantee's stated limit that is utilized as of March 31, 2015 based upon prevailing economic conditions and fact patterns specific to each guarantee arrangement. For those guarantees related to obligations that are recorded as liabilities by Dominion's subsidiaries, the value includes the recorded amount.

(2) Guarantee of debt of a DEI subsidiary. In the event of default by the subsidiary, Dominion would be obligated to repay such amounts.

(3) Guarantees related to commodity commitments of certain subsidiaries, including subsidiaries of Virginia Power, Dominion Gas and DEI. These guarantees were provided to counterparties in order to facilitate physical and financial transactions in gas, oil, electricity, pipeline capacity, transportation and related commodities and services. If any of these subsidiaries fail to perform or pay under the contracts and the counterparties seek performance or payment, Dominion would be obligated to satisfy such obligation. Dominion and its subsidiaries receive similar guarantees as collateral for credit extended to others. The value provided includes certain guarantees that do not have stated limits.

(4) Guarantees related to certain DEI subsidiaries' potential retrospective premiums that could be assessed if there is a nuclear incident under Dominion's nuclear insurance programs and guarantees for a DEI subsidiary's and Virginia Power's commitment to buy nuclear fuel. Excludes Dominion's agreement to provide up to $150 million and $60 million to two DEI subsidiaries to pay the operating expenses of Millstone (in the event of a prolonged outage) and Kewaunee, respectively, as part of satisfying certain NRC requirements concerned with ensuring adequate funding for the operations of nuclear power stations. The agreement for Kewaunee also provides for funds through the completion of decommissioning.

(5) Guarantees related to Cove Point, in support of terminal services, transportation and construction. Two of the guarantees have no stated limit, one guarantee has a $150 million limit, and one guarantee has a $1.75 billion aggregate limit with an annual draw limit of $175 million.

(6) Includes guarantees to facilitate the development of solar projects including guarantees to support the issuance of full notice to proceed under EPC agreements. Includes certain guarantees that do not have stated limits. Also includes guarantees entered into by DEI on behalf of certain subsidiaries to facilitate the acquisition and development of solar projects. 

(7) Guarantees related to other miscellaneous contractual obligations such as leases, environmental obligations and construction projects. Also includes guarantees related to certain DEI subsidiaries' obligations for equity capital contributions and energy generation associated with Fowler Ridge and NedPower. As of March 31, 2015, Dominion's maximum remaining cumulative exposure under these equity funding agreements is $63 million through 2019 and its maximum annual future contributions could range from approximately $4 million to $19 million. The value provided includes certain guarantees that do not have stated limits.

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Regulatory Matters

3 Months Ended

Mar. 31, 2015

Regulatory Matters [Abstract]

Regulatory Matters

Regulatory Matters

Regulatory Matters Involving Potential Loss Contingencies

As a result of issues generated in the ordinary course of business, the Companies are involved in various regulatory matters. Certain regulatory matters may ultimately result in a loss; however, as such matters are in an initial procedural phase, involve uncertainty as to the outcome of pending reviews or orders, and/or involve significant factual issues that need to be resolved, it is not possible for the Companies to estimate a range of possible loss. For matters for which the Companies cannot estimate a range of possible loss, a statement to this effect is made in the description of the matter. Other matters may have progressed sufficiently through the regulatory process such that the Companies are able to estimate a range of possible loss. For regulatory matters for which the Companies are able to reasonably estimate a range of possible losses, an estimated range of possible loss is provided, in excess of the accrued liability (if any) for such matters. Any estimated range is based on currently available information, involves elements of judgment and significant uncertainties and may not represent the Companies' maximum possible loss exposure. The circumstances of such regulatory matters will change from time to time and actual results may vary significantly from the current estimate. For current matters not specifically reported below, management does not anticipate that the outcome from such matters would have a material effect on the Companies' financial position, liquidity or results of operations.

FERC - Electric

Under the Federal Power Act, FERC regulates wholesale sales and transmission of electricity in interstate commerce by public utilities. Dominion's merchant generators sell electricity in the PJM, MISO and ISO-NE wholesale markets under Dominion's market-based sales tariffs authorized by FERC. Virginia Power purchases and, under its FERC market-based rate authority, sells electricity in the wholesale market. In addition, Virginia Power has FERC approval of a tariff to sell wholesale power at capped rates based on its embedded cost of generation. This cost-based sales tariff could be used to sell to loads within or outside Virginia Power's service territory. Any such sales would be voluntary.

Rates

In April 2008, FERC granted an application for Virginia Power's electric transmission operations to establish a forward-looking formula rate mechanism that updates transmission rates on an annual basis and approved an ROE of 11.4%, effective as of January 1, 2008. The formula rate is designed to recover the expected revenue requirement for each calendar year and is updated based on actual costs. The FERC-approved formula method, which is based on projected costs, allows Virginia Power to earn a current return on its growing investment in electric transmission infrastructure.

In March 2010, ODEC and NCEMC filed a complaint with FERC against Virginia Power claiming that approximately $223 million in transmission costs related to specific projects were unjust, unreasonable and unduly discriminatory or preferential and should be excluded from Virginia Power's transmission formula rate. In October 2010, FERC issued an order dismissing the complaint in part and established hearings and settlement procedures on the remaining part of the complaint. In February 2012, Virginia Power submitted to FERC a settlement agreement to resolve all issues set for hearing. The settlement was accepted by FERC in May 2012 and provides for payment by Virginia Power to the transmission customer parties collectively of $250,000 per year for ten years and resolves all matters other than allocation of the incremental cost of certain underground transmission facilities.

In March 2014, FERC issued an order excluding from Virginia Power’s transmission rates for wholesale transmission customers located outside Virginia the incremental costs of undergrounding certain transmission line projects.  FERC found it is not just and reasonable for non-Virginia wholesale transmission customers to be allocated the incremental costs of undergrounding the facilities because the projects are a direct result of Virginia legislation and Virginia Commission pilot programs intended to benefit the citizens of Virginia. The order is retroactively effective as of March 2010 and will cause the reallocation of the costs charged to wholesale transmission customers with loads outside Virginia to wholesale transmission customers with loads in Virginia.  FERC determined that there was not sufficient evidence on the record to determine the magnitude of the underground increment and ordered a hearing to determine the appropriate amount of undergrounding cost to be allocated to each wholesale transmission customer in Virginia. While Virginia Power cannot predict the outcome of the hearing, it is not expected to have a material effect on results of operations.

Other Regulatory Matters

Other than the following matters, there have been no significant developments regarding the pending regulatory matters disclosed in Note 13 to the Consolidated Financial Statements in the Companies' Annual Report on Form 10-K for the year ended December 31, 2014.

Virginia Regulation

2015 Biennial Review

In March 2015, Virginia Power filed its base rate case and schedules for the Virginia Commission’s 2015 biennial review of Virginia Power’s rates, terms and conditions. Per legislation enacted in February 2015, this biennial review is limited to reviewing Virginia Power’s earnings on rates for generation and distribution services for the combined 2013 and 2014 test period, and determining whether credits are due to customers in the event Virginia Power’s earnings exceeded the earnings band determined in the 2013 Biennial Review Order. Virginia Power’s filing demonstrated a 10.13% ROE for the combined test periods, which is within the earnings band. This case is pending.

Virginia Fuel Expenses

In February 2015, Virginia Power submitted its annual fuel factor filing to the Virginia Commission to recover an estimated $1.6 billion in Virginia jurisdictional projected fuel expenses for the rate year beginning July 1, 2015. Virginia Power’s new fuel rate, approved on an interim basis effective April 1, 2015, represents a fuel revenue decrease of approximately $512 million when applied to projected kilowatt-hour sales for the period April 1, 2015 to June 30, 2016. This case is pending. As a result of the legislation enacted in February 2015, Virginia Power recognized a charge of $85 million ($52 million after-tax) in electric fuel and other energy-related purchases in its Consolidated Statements of Income to write off 50% of its December 31, 2014 deferred fuel costs attributable to customers in Virginia.

Rate Adjustment Clauses

Below is a discussion of significant riders associated with various Virginia Power projects:

• The Virginia Commission previously approved Rider S in conjunction with the Virginia City Hybrid Energy Center. In March 2015, the Virginia Commission approved an approximately $245 million revenue requirement for the rate year beginning April 1, 2015.

• The Virginia Commission previously approved Rider BW in conjunction with Brunswick County. In April 2015, the Virginia Commission approved an approximately $111 million total revenue requirement for the rate year beginning September 1, 2015.

• The Virginia Commission previously approved Rider R in conjunction with Bear Garden. In March 2015, the Virginia Commission approved an approximately $84 million revenue requirement for the rate year beginning April 1, 2015.

• The Virginia Commission previously approved Riders C1A and C2A in connection with cost recovery for DSM programs. In April 2015, the Virginia Commission approved an approximately $37 million revenue requirement for the rate year beginning May 1, 2015.  The Virginia Commission approved two new energy efficiency programs for a three-year period with a combined cost cap of approximately $20 million, and reduced Virginia Power’s annual base rate revenues by approximately $7 million to remove the costs of a discontinued energy efficiency program no longer combined in Virginia Power’s base rates effective May 1, 2015.

• The Virginia Commission previously approved Rider B in conjunction with the conversion of three power stations to biomass. In March 2015, the Virginia Commission approved an approximately $9 million revenue requirement for the rate year beginning April 1, 2015.

Electric Transmission Project

In April 2015, the Supreme Court of Virginia issued its opinion in the consolidated appeals of the Virginia Commission’s order granting a CPCN for the Skiffes Creek transmission line and related facilities. The Supreme Court of Virginia unanimously affirmed on all but one of the alleged grounds for appeal. The court approved the proposed project including the proposed route for a 500 kV overhead transmission line from Surry Power Station to the Skiffes Creek Switching Station site. The court reversed and remanded the Virginia Commission’s determination in one set of appeals that the Skiffes Creek Switching Station was a transmission line for purposes of statutory exemption from local zoning ordinances. On April 27, 2015, Virginia Power and the Virginia Commission each filed a Notice of Intent to Apply for Rehearingwith the Supreme Court of Virginia relating to the ruling on the switching station. This matter is pending.

North Anna

Virginia Power is considering the construction of a third nuclear unit at a site located at North Anna. If Virginia Power decides to build a new unit, it must first receive a COL from the NRC, approval of the Virginia Commission and certain environmental permits and other approvals. The COL is expected in 2016. Virginia Power has not yet committed to building a new nuclear unit at North Anna.

In September 2014, BREDL filed a petition with the NRC again seeking suspension of final decision making in the COL proceeding, along with motions to reopen and file a new contention. BREDL asserted that the NRC must make a safety finding on the feasibility and capacity of geologic disposal of spent fuel prior to the issuance of a license. BREDL also alleged that because these safety findings are no longer made as part of the NRC’s new continued storage rule, such findings must now be made in individual licensing proceedings. In January 2015, BREDL filed another petition asking the NRC to supplement the final environmental impact statement for North Anna 3 to incorporate the NRC’s generic assessment of the impacts of continued spent fuel storage, which would allow BREDL to then challenge that assessment.

The NRC denied the September 2014 petition and motions filed by BREDL in February 2015 and the January 2015 petition filed by BREDL in April 2015. In April 2015, BREDL filed a new motion and petition seeking to object to the NRC’s reliance on the continued storage rule in licensing proceedings. The BREDL filings are substantially the same as those filed in other COL proceedings in which final environmental impact statements were issued prior to promulgation of the continued storage rule, like North Anna 3. Resolution of these filings is not expected to affect the schedule for issuance of the COL.

Ohio Regulation

PIR Program

In March 2015, East Ohio filed an application with the Ohio Commission requesting approval to extend the PIR program for an additional five years and to increase the annual capital investment, with corresponding increases in the annual rate-increase caps.  In its application, East Ohio proposed that PIR investments for 2016 should fall under the existing authorization and that the new five-year period should include investment through December 31, 2021. East Ohio also proposed that the PIR investment should be increased by $20 million in 2017 and another $20 million in 2018, bringing the total annual investment to $200 million. Thereafter, East Ohio proposed capital investment increases of 3% per year for 2019 through 2021 to mitigate inflation and other cost pressures experienced to date, which will continue into the future. This case is pending.

In February 2015, East Ohio filed an application to adjust the PIR cost recovery for 2014 costs. The filing reflects gross plant investment for 2014 of $155 million, cumulative gross plant investment of $829 million and a revenue requirement of $108 million. This application was approved by the Ohio Commission in April 2015.

AMR Program

In February 2015, East Ohio filed its application with the Ohio Commission to adjust its AMR cost recovery charge to recover costs for calendar year 2014 associated with AMR deployment, which was completed in 2012. The filing reflects a projected revenue requirement of approximately $8 million. This application was approved by the Ohio Commission in April 2015.