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Virginia Power is committing $4 billion over the next three years to improve and expand its electric service.

Dominion Virginia Power CEO Paul Koonce, in a letter to be included with bills sent to Virginia customers in January, outlines plans for improving service reliability and adding more renewable sources of energy.

Koonce was named chief executive in June.

"Keeping your lights on safely, efficiently and at a reasonable cost are my highest priorities,"Koonce said in the letter.

To keep up with growing demand, the company will add new, gas-fired generating units and a hybrid coal station. It is also making environmental improvements to older stations to reduce emissions.

Dominion says it is committed to meeting Virginia's goal of achieving 15 percent of its electricity sales from renewable sources by 20205, and to reducing the growth in customer demand for electricity by 10 percent over the next 12 years high quality business cards.

"Meeting these goals will be a challenge," Koonce says. "Despite the recession, customers are using more power, lending credence to the forecast that demand will rebound as the economy recovers."

Dominion Virginia Power plans to offer new energy efficiency programs this year for both residential and business customers, and digital meters are now being installed in some of its service areas.

Last summer, Dominion (NYSE: D) applied for $200 million in federal stimulus money to speed up the installation of 2.4 million smart meters.

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