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On September 23, 1983, Vepco, Services, and Virginia Natural Gas, Inc. ("VNG") filed an application (assigned Case No. PUE 830062) with the Commission requesting authorization under Chapters 3, 4, 5, and 10.1 of Title 56 of the Code of Virginia to irr\plement the transactions and arrangements detailed in the application. These transactions and arrangements include: (1) the transfer of Vepco's gas division into VNG, which initially will be established as a Vepco subsidiary, (2) the transfer of the shares of VNG common stock from Vepco to Dominion by means of a dividend, thereby making VNG a subsidiary of Dominion, (3) the transfer to Dominion of the common stock of Virginia Nuclear, Inc. ("VNI") held by Vepco by means of a dividend, thereby making VNI a subsidiary of Dominion, (4) establishment of the capital structure of VNG to reflect the same percentage of common stock, preferred stock, and debt as the capital structure of Vepco at the date of reorganization, (5) the approval of service agreements between Vepco and Services, VNG and Services, and Vepco and VNG, (6) the transfer of Vepco employees to Services to perform the staff functions being transferred to Services, (7) the granting of certificates of public convenience and necessity to VNG to serve the territory presently served by the gas division of Vepco. The companies filed a supplement to their application on September 30, 1983, and filed testimony in support of their application on October 4 and December 16, 1983.
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