Dominion to pursue sale of three merchant power stations

Dominion said it intends to pursue the sale of three fossil fuel-fired merchant power stations, one in Massachusetts and two in Illinois. The power stations include Brayton Point Power Station, a 1,536-megawatt power station in Somerset, Mass.; Kincaid Power Station, a 1,158-megawatt power station in Kincaid, Ill., with two 579-megawatt coal-fired units; and Elwood Power Station, a 1,424-megawatt power station outside Chicago, with nine 158-megawatt natural gas-fired combustion turbines. The sales are expected to be completed in the first half of 2013. The company plans to invest the proceeds in growth of the company's regulated businesses and reduce debt needs.