Dominion exits Michigan power project

RICHMOND, Va., Feb. 21, 2002 — Dominion said today that it is exiting its partnership with CME North American Merchant Energy to develop an 800-MW natural gas-fired power station in Monroe County, Michigan.

The project, announced last April, is in the initial planning stages. CME plans to continue the development.

James K. Martin, Dominion vice president of business development, said: “Our broader business goals and timing objectives have caused us to focus on other generation opportunities that are further along in the development process.

“CME has been an excellent business partner and is a skilled, knowledgeable developer of world-class generation assets. We wish them every success.”

Dominion, headquartered in Richmond, Va., is one of the nation’s largest producers of energy.

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