- Edited By Chris Reed -
Dominion Resources Inc. says if it doesn't build a third nuclear reactor at its North Anna Power Station, it will need to build another power generation source in its place.
CEO Thomas F. Farrell II spoke Tuesday at the Bank of America Merrill Lynch Power ; Gas Leaders Conference in New York about the potential reactor at the central Virginia plant.
Farrell said the company is looking for a partner to build the third nuclear reactor, but isn't going to build it itself right now. Dominion announced in May that it selected Mitsubishi Heavy Industry's Advanced Pressurized Water Reactor technology for the potential unit
If it decides to go forward with the reactor, the Richmond-based energy company must first get approval from the Nuclear Regulatory Commission and the Virginia State Corporation Commission.
Farrell said that if the company doesn't build the reactor, Dominion would have to find another source for the 1,300 megawatts of electricity the reactor would have produced.
He also said Dominion plans to spend about $10 billion in growth capital expenditures for generation, transmission and distribution between 2011 and 2015. That doesn't include about $3.6 billion for projects like the third nuclear reactor, its replacement, or certain gas transmission growth projects under development.
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