THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Saturday, July 30, 1994 TAG: 9407300246
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
LENGTH: Short : 31 lines
The State Corporation Commission said Friday it will consider a request by Virginia Power to block the ouster of three directors from the utility's board.
In its first public communication since ordering an investigation into ties between Dominion Resources Inc. and its Virginia Power subsidiary, the SCC set a hearing date of Aug. 11.
Virginia Power's biggest customer, the Old Dominion Electric Cooperative, can also participate in the proceedings, the SCC said. Old Dominion Electric buys electricity from Virginia Power and is a part-owner of the utility's North Anna nuclear plants.
Dominion dimissed three directors from Virginia Power's 10-member board on Tuesday, saying that two of the directors had sought to seize control of the Dominion board. Dominion also increased the control of its chief executive officer over Virginia Power by changing some of the utility's bylaws.
Virginia Power told the SCC that it would be harmed by the loss of the three directors and by the bylaw changes. The utility asked for a temporary injunction blocking Dominion's action.
Dominion says state regulators have no jurisdiction in the matter. by CNB