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Mr. J. Clayton Crouch
Dominion Virginia Power
Manager - Regulatory Data Management & Analysis

Thursday September 20, 2007
Innsbrook Technical Center - Richmond, VA

"The Commonwealth of Virginia's New Hybrid Regulatory Model
(or How to pay for a new Nuclear Plant) "

Download Ms. Dillich's Presentation [1.3 MB]

Download Mr. Crouch's Presentation [0.6 MB]

This presentation will provide an overview of Senate Bill 1416 that passed in the Virginia Legislative session earlier this year. The Bill was a landmark shift in the de-regulation direction that many states including Virginia had embarked on over the past decade. The new law has been called a "Hybrid Regulatory Model" because it combines the best of Traditional Cost of Service Ratemaking with Performance Based Rates to ensure the added efficiency gains made recently are maintained and will be monitored by the VA SCC.

In addition to performance incentives, an adjustment clause or "rider" allows for cost recovery of new baseload generation plant costs in the Commonwealth. This rider is filed with the VA SCC and will provide an added return on equity associated with the construction of North Anna 3.

J. Clayton Crouch has been a Manager in the State Regulation Dept at Dominion Virginia Power for the past 16 months and is relatively new to this side of the business. This has proved to be a very exciting and challenging time in the Regulatory arena. He had spent most of the past 30 years supporting the generation and environmental issues relating to the electrical power industry.

Clayton worked as an Assistant Field Service Engineer for Enviroplan, Inc. while putting himself through undergraduate school at Point Park University with a double major in Electrical & Mechanical Engineering. This work resulted from the need to monitor compliance for the original Clean Air Act.

He took an I&C Engineering position with the Westinghouse Nuclear Division after graduation and got to see many of the PWRs in the states and a few in Europe during his tenure. Heavy travel schedules lead to an education leave of absence to allow for the completion of an interdisciplinary Masters of Science in Energy Resource Engineering program at the University of Pittsburgh.

Clayton decided to settle down after graduate school at a single station and worked as a Design and then System Engineer for PSE&G at Salem (PWR) and Hope Creek (BWR). Ten years ago he headed south to work for Dominion at the Surry Station and then changed hats and took a Fossil & Hydro Engineering position at the Innsbrook Technical Center.

After completing a tour as a 6 sigma Master Black Belt with over $7M in savings, he was assigned to the Tredegar Clearinghouse Trading Floor. Clayton worked as the Energy Asset Advisor prior to being promoted to his current Manager position located on the 15th floor of OJRP.

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