Dominion agrees price for USGen assets

Dominion is offering $536 million in cash plus an adjustment for inventory and reimbursement of certain capital expenditures incurred prior to closing, estimated at $120 million.

The plants comprise 2,839 megawatts (MW) of coal, natural gas and oil generating capacity, and would increase Dominion's total capacity by 10%. The planned sale is part of a bankruptcy court-supervised divestiture of USGen's fossil fuel assets, and is expected to close in March 2005.

But first the generating assets are

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