3/1/2011 11:00:53 AM

Old Dominion Electric Cooperative (ODEC) announced today that it will not participate in the development or ownership of a third generation unit that Dominion Virginia Power is proposing to construct at its North Anna Nuclear Power Station in Louisa County, Virginia.

Since 1983, ODEC has owned an 11.6 percent undivided interest in and share of the power generated by the two existing units at the North Anna facility. Dominion Virginia Power owns the remaining 88.4 percent and is responsible for its operation. ODEC's ownership interest in the two existing units and arrangements relating to the operation and maintenance of these units will not be affected by ODEC's decision not to participate in the proposed third unit.

While we consider nuclear generation an important part of our diversified portfolio of energy resources to meet ODEC's goal of providing reliable, affordable and environmentally-responsible electricity to the 1.2 million member-consumers of the electric distribution cooperatives served by our organization, our board of directors and senior management have determined that participating in this proposed nuclear reactor project does not fit with our long- term plans, said Jackson E. Reasor, ODEC president and CEO.

ODEC and Dominion Virginia Power are currently working through the logistics of our withdrawal as a participant in the proposed project. Reasor added. While ODEC will not be part of the third unit at North Anna, we look forward to continuing our mutually-beneficial partnerships with Dominion in the two existing units at North Anna and at our jointly-owned Clover Power Station in Halifax County, Va.

ODEC is a generation-and-transmission cooperative that provides wholesale power to Northern Neck Electric Cooperative and 10 local member distribution cooperatives in Virginia, Maryland and Delaware. ODEC and its member systems are not-for-profit electric cooperatives that are owned by their member-consumers and serve more than one million consumers throughout the Mid-Atlantic region.

ODEC's portfolio of generation resources currently includes its 11.6 percent ownership of the North Anna Nuclear Power Station in Louisa County, Va.; 50 percent ownership of the Clover Power Station in Halifax County, Va.; ownership and operation of generation facilities in Louisa and Fauquier counties in Virginia; 50 percent ownership of a generation facility in Cecil County, Md.; long- term contractual agreements for power generated by three wind farm projects in Pennsylvania and Maryland; landfill gas-to-energy facilities generation in Delaware and Maryland; and a hydroelectric generation facility in Western Virginia.

For more information, please visit www.odec.com