9/10/2010 12:13:51 PM

(Glen Allen, VirginiaSeptember 8, 2010) Old Dominion Electric Cooperative (ODEC) announced today that it is extending its timeline for securing the necessary air permits to begin construction of its proposed Cypress Creek Power Station in Southeastern Virginia.

ODEC is extending its permitting schedule and anticipates restarting the permit filing process in 18-24 months. The Cooperative will continue to work with local property owners to secure the proper rights-of-way for the water pipeline that will be required to operate the electric generation facility. Plans to move forward with developing the rail access will follow.

ODEC reaffirms its commitment to the local governments and citizens of the Town of Dendron, Surry County and Sussex County and will continue to work closely with them as the project moves forward, including continuing its support of area civic organizations and community events.

"This adjustment to our timeline does not in any way reflect a change in our goal of building the Cypress Creek Power Station to provide a reliable source of affordable electricity to meet the growing demand for energy," said C. David Hudgins, ODECs director of member and external relations. "ODEC and our 11 member distribution cooperatives have invested a significant amount of time, money and other resources to purchase the property and secure local approvals for the project, and we have no intention of turning back now."

Hudgins noted that demand for electricity continues to grow and ODEC will need to generate additional power in the future. However, the slower than expected growth in the economy has resulted in slower than expected growth in the demand for electricity. This has afforded ODEC the opportunity to pursue this project on a single track rather than multiple parallel tracks. The extended timeline will allow more time for the federal government to address uncertainty in energy and environmental policies, such as the fate of proposed Cap and Trade legislation and EPA regulations.

Finding additional base load generation is a high priority for us, said Hudgins. For this reason, we are continuing to take steps toward the construction of the Cypress Creek Power Station. ODEC will also continue to defend against the legal challenge to the local zoning approval.

ODEC first purchased options on the properties in the Town of Dendron, Surry County and Sussex County in January 2008 after completing a five-state siting study of potential locations in the Mid-Atlantic Region. These properties were selected for their large footprints and access to transmission lines and rail transportation. In February 2010, the Dendron Town Council, the Surry County Board of Supervisors, and the Sussex County Board of Supervisors each approved zoning and conditional use requests that permit the construction of a power generation facility on the properties. As of July 9, 2010, ODEC had purchased all of the properties previously optioned. With more than $20 million invested already, ODEC expects to make additional improvements to these properties in the near future.

ODEC is a generation-and-transmission cooperative that provides wholesale power to Northern Neck Electric Cooperative and 10 local member electric distribution cooperatives in Virginia, Maryland and Delaware. ODEC and its member systems are not-for-profit electric cooperatives that are owned by their member consumers and serve nearly one million consumers throughout the Mid-Atlantic region.

ODECs portfolio of generation resources currently includes its 11.6 percent ownership of the North Anna Nuclear Power Plant in Louisa County, Va.; 50 percent ownership of the Clover Power Station in Halifax County, Va; ownership and operation of generation facilities in Louisa and Fauquier counties in Virginia; 50 percent ownership of a generation facility in Cecil County, Md.; and long term contractual agreements for power generated by wind farm projects in North Central and Southwestern Pennsylvania and an additional wind farm under construction in Western Maryland; landfill gas generation facilities in Delaware and Maryland; and a hydroelectric generation facility in Western Virginia. For more information, go to www.odec.com .