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Electric Plant
12 Months Ended
Dec. 31, 2021
Property Plant And Equipment [Abstract]  
Electric Plant

NOTE 2—Electric Plant

Our net electric plant was composed of the following as of December 31, 2021:  

 

 

 

Wildcat

Point

 

 

North

Anna

 

 

Clover

 

 

Combustion

Turbine

Facilities

 

 

Other

 

 

Total

 

 

 

(in thousands)

 

Property, plant, and equipment

 

$

877,789

 

 

$

416,259

 

 

$

707,333

 

 

$

440,168

 

 

$

100,858

 

 

$

2,542,407

 

Accumulated depreciation

 

 

(98,726

)

 

 

(260,491

)

 

 

(414,647

)

 

 

(241,051

)

 

 

(34,841

)

 

 

(1,049,756

)

Net Property, plant, and equipment

 

 

779,063

 

 

 

155,768

 

 

 

292,686

 

 

 

199,117

 

 

 

66,017

 

 

 

1,492,651

 

Nuclear fuel, at amortized cost

 

 

 

 

 

14,495

 

 

 

 

 

 

 

 

 

 

 

 

14,495

 

Construction work in progress

 

 

7

 

 

 

41,312

 

 

 

1,311

 

 

 

51

 

 

 

6,275

 

 

 

48,956

 

Net Electric Plant

 

$

779,070

 

 

$

211,575

 

 

$

293,997

 

 

$

199,168

 

 

$

72,292

 

 

$

1,556,102

 

 

 

Our net electric plant was composed of the following as of December 31, 2020:  

 

 

 

Wildcat

Point

 

 

North

Anna

 

 

Clover

 

 

Combustion

Turbine

Facilities

 

 

Other

 

 

Total

 

 

 

(in thousands)

 

Property, plant, and equipment

 

$

875,528

 

 

$

415,227

 

 

$

706,417

 

 

$

438,418

 

 

$

100,805

 

 

$

2,536,395

 

Accumulated depreciation

 

 

(71,656

)

 

 

(249,546

)

 

 

(401,363

)

 

 

(228,378

)

 

 

(33,133

)

 

 

(984,076

)

Net Property, plant, and equipment

 

 

803,872

 

 

 

165,681

 

 

 

305,054

 

 

 

210,040

 

 

 

67,672

 

 

 

1,552,319

 

Nuclear fuel, at amortized cost

 

 

 

 

 

17,321

 

 

 

 

 

 

 

 

 

 

 

 

17,321

 

Construction work in progress

 

 

989

 

 

 

34,961

 

 

 

1,110

 

 

 

 

 

 

1,750

 

 

 

38,810

 

Net Electric Plant

 

$

804,861

 

 

$

217,963

 

 

$

306,164

 

 

$

210,040

 

 

$

69,422

 

 

$

1,608,450

 

 

Wildcat Point

We own Wildcat Point, a 980 MW (net capacity entitlement) natural gas-fueled combined cycle generation facility.  Wildcat Point achieved commercial operation on April 17, 2018.  

North Anna

We hold an 11.6% undivided ownership interest in North Anna, a two-unit, 1,892 MW (net capacity entitlement) nuclear power facility operated by Virginia Power, which owns the balance of the plant.  We are responsible for and must fund 11.6% of all post-acquisition date additions and operating costs associated with North Anna, as well as a pro-rata portion of Virginia Power’s administrative and general expenses directly attributable to North Anna.  Our portion of assets, liabilities, and operating expenses associated with North Anna are included on our consolidated financial statements in accordance with proportionate consolidation accounting.  As of December 31, 2021 and 2020, we had an outstanding accounts payable balance of $7.9 million and $3.8 million, respectively, due to Virginia Power for operation, maintenance, and capital investment at North Anna.

Clover

We hold a 50% undivided ownership interest in Clover, a two-unit, 877 MW (net capacity entitlement) coal-fired electric generation facility operated by Virginia Power, which owns the balance of the plant.  We are responsible for and must fund half of all additions and operating costs associated with Clover, as well as half of Virginia Power’s administrative and general expenses directly attributable to Clover.  Our portion of assets, liabilities, and operating expenses associated with Clover are included on our consolidated financial statements in accordance with proportionate consolidation accounting.  As of December 31, 2021 and 2020, we had an outstanding accounts payable balance of $5.5 million and $2.1 million, respectively, due to Virginia Power for operation, maintenance, and capital investment at Clover.

Combustion Turbine Facilities

We own two combustion turbine facilities, Louisa and Marsh Run, that are primarily fueled by natural gas.  

Other

We also own six distributed generation facilities, and approximately 110 miles of transmission lines on the Virginia portion of the Delmarva Peninsula.