Dominon Hourly Employee Savings Plan

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549


FORM 11-K



(Mark One):
  
     
X
  
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934.
For the fiscal year ended December 31, 2005.
     
   
or
     
 
  
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934.
For the transition period from _________ to ________________.
     


Commission File Number 333-110332


A.
Full title of the plan and the address of the plan, if different from that of the issuer named below:
   
DOMINION HOURLY EMPLOYEE SAVINGS PLAN
   
B.
Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
 
DOMINION RESOURCES, INC.
120 Tredegar Street
Richmond, VA 23219

 


DOMINION HOURLY EMPLOYEE SAVINGS PLAN
 
TABLE OF CONTENTS
 

 
Page
 
   
Report of Independent Registered Public Accounting Firm
2
   
Financial Statements:
  
   
   Statements of Net Assets Available for Benefits as of December 31, 2005 and 2004
3
   
   Statement of Changes in Net Assets Available for Benefits for the year ended December 31, 2005
4
   
   Notes to Financial Statements
5 - 13
   
Supplemental Schedules:
  
   Form 5500, Schedule H, Item 4(i): Schedule of Assets (Held at End of Year) as of December 31, 2005
14
   
   Form 5500, Schedule H, Item 4(j): Schedule of Reportable Transactions for the
               year ended December 31, 2005
 
15


Page 2

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Audit Committee and Organization, Compensation, and Nominating Committee of the Board of Directors of Dominion Resources, Inc. and the Trustee and Participants of the Dominion Hourly Employee Savings Plan
Richmond, Virginia

We have audited the accompanying statements of net assets available for benefits of the Dominion Hourly Employee Savings Plan (the “Plan”) as of December 31, 2005 and 2004, and the related statement of changes in net assets available for benefits for the year ended December 31, 2005. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2005 and 2004, and the changes in net assets available for benefits for the year ended December 31, 2005, in conformity with accounting principles generally accepted in the United States of America.

Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of (1) assets (held at end of year) as of December 31, 2005, and (2) reportable transactions for the year ended December 31, 2005, are presented for the purpose of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These schedules are the responsibility of the Plan's management. Such schedules have been subjected to the auditing procedures applied in our audit of the basic 2005 financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole.

/s/ Deloitte & Touche LLP

Richmond, Virginia
June 16, 2006



Page 3

DOMINION HOURLY EMPLOYEE SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
 
   
December 31,
         2005       
  
December 31,
         2004       
  
Assets:
          
           
   Participant-Directed Investments
  
$
172,585,653
  
$
154,864,983
  
               
   Nonparticipant-Directed Investments
   
78,877,902
    
70,152,776
  
               
   Receivables
    
865,931
    
200,368
  
               
               
           Total Assets
    
252,329,486
    
225,218,127
  
               
Liabilities:
              
               
   Payables for Investments Purchased
    
76,011
    
199,767
  
               
   Administrative Expenses Payable
    
274,233
    
192,788
  
               
   Other Liabilities
    
61,280
    
14,099
  
               
           Total Liabilities
    
411,524
    
406,654
  
               
NET ASSETS AVAILABLE FOR BENEFITS
  
$
251,917,962
  
$
224,811,473
  


The accompanying notes are an integral part of the financial statements.


Page 4

DOMINION HOURLY EMPLOYEE SAVINGS PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEAR ENDED DECEMBER 31, 2005
Additions:
      
  Investment Income:
      
    Dividends
  
$
5,263,942
  
    Interest
    
347,588
 
    Net Appreciation in Fair Value of Investments
    
21,127,854
 
    Income from Master Trust
    
2,007,101
 
         
         Total Investment Income
    
28,746,485
 
         
  Contributions:
        
    Participant
   
10,970,271
 
    Participating Companies
    
3,975,329
 
         
          Total Contributions
    
14,945,600
 
         
   Total Additions
    
43,692,085
 
         
Deductions:
        
  Benefits Paid to Participants
    
12,029,089
 
  Administrative Expenses
    
171,316
 
         
   Total Deductions
    
12,200,405
 
         
NET INCREASE IN NET ASSETS BEFORE TRANSFER
    
31,491,680
 
         
NET TRANSFER OF PARTICIPANTS' ASSETS
       
  FROM THE PLAN TO OTHER PLANS
    
(4,385,191
)
         
NET INCREASE
    
27,106,489
 
         
NET ASSETS AVAILABLE FOR BENEFITS:
        
  Beginning of Year
    
224,811,473
 
         
  End of Year
  
$
251,917,962
  

The accompanying notes are an integral part of the financial statements.


Page 5

DOMINION HOURLY EMPLOYEE SAVINGS PLAN
 
NOTES TO FINANCIAL STATEMENTS
 
1.
DESCRIPTION OF PLAN
 
The following description of the Dominion Hourly Employee Savings Plan (the Plan) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan's provisions.

a.    GENERAL - The Plan is a defined contribution plan currently covering all hourly employees of the Virginia Electric and Power Company and Dominion Kincaid, Inc. (the Participating Companies) who are 18 years of age or older. The Participating Companies are wholly-owned subsidiaries of Dominion Resources, Inc. (Dominion) which is the designated Plan sponsor. The Plan administrator is Dominion Resources Services, Inc. (a subsidiary of Dominion). Mellon Bank, N.A. serves as the trustee of the Plan.  The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).
 
b.    CONTRIBUTIONS - A maximum of 50% of the participant’s eligible earnings and 30% of highly compensated employee’s eligible earnings can be invested in the Plan. Of the 30%, up to 10% can be invested on a tax-deferred basis. The Participating Companies contribute a matching amount equivalent to 50% of each participant’s contributions, not to exceed 3% of the participant’s eligible earnings, which is used to purchase Dominion common stock. Contributions are subject to applicable Internal Revenue Code ("IRC") limitations.
 
c.   PARTICIPANT ACCOUNTS - Individual accounts are maintained for each Plan participant. Each participant's account includes the effect of the participant's contributions and withdrawals, as applicable, and allocations of the Participating Companies’ contributions, Plan earnings, and administrative expenses. Allocations are based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the vested portion of the participant's account.
 
d.   PARTICIPANTS - Any subsidiary of Dominion may adopt the Plan for the benefit of its qualified hourly employees subject to approval of the Board of Directors of Dominion.
 
e.    VESTING - Participants become vested in their own contributions and the earnings on these amounts immediately, and in the Participating Companies’ matching contributions and earnings thereon after three years of service.
 
f.    FORFEITED ACCOUNTS - At December 31, 2005 and 2004, forfeited non-vested accounts totaled $1,537 and $3,187, respectively. These accounts are used to reduce future Participating Companies’ contributions. During the year ended December 31, 2005, Participating Companies’ contributions were reduced by $3,187 from forfeited nonvested accounts.
 


Page 6
 
g.   INVESTMENT OPTIONS
 
Employee Contributions: Upon enrollment in the Plan, a participant may direct employee contributions in any option (except the loan fund) in 1% increments totaling to 100%. Changes in investment options may be made at any time and become effective with the subsequent pay period. Participants can make unlimited transfers among existing funds.  As discussed in Note 1.k., effective July 6, 2005, the Plan provides for employee contributions to be invested in the following:
 
Dominion Stock Fund
 
Interest in Master Trust:
Dresdner Large Cap Growth Fund (Dresdner Fund)
Certus Stable Value Fund (Certus Fund)

Common/Collective Trusts:
Northern Trust Global Securities - Aggressive Growth
Northern Trust Global Securities - Conservative
Northern Trust Global Securities - Moderate
Large Cap Value Fund
Wilshire 4500 Index Fund
EB Mellon Total Return Fund
Mellon S&P 500 Index Daily Fund

 Mutual Funds:
Real Estate Fund
Small Cap Value Fund
Vanguard Explorer Fund
Euro Pacific Growth Fund
 
Company Contributions: Participating Companies matching contributions are automatically invested in the Dominion Stock Fund. However, participants may transfer 100% of the value of their company match account into another investment option at any time.
 
h.    PARTICIPANT LOANS - Participants are eligible to secure loans against their plan account and repay the amount over a one to five-year period. The minimum loan amount is $1,000 and the maximum loan amount is the lesser of:
 
· 50% of the vested account balance or
 
· $50,000 (reduced by the maximum outstanding loan balance during the prior 12 months).
 
Loan transactions are treated as a transfer between the respective investment fund and the loan fund. The loans are interest bearing at one percentage point above the prime rate of interest. The rate is determined every quarter; however, the rate is fixed at the inception of the loan for the life of the loan.
 
Participants make principal and interest payments to the Plan on a bi-monthly basis through payroll deductions. Any defaults in loans result in a reclassification of the remaining loan balances as taxable distributions to the participants.


Page 7
 
i.    PAYMENT OF BENEFITS - On termination of service, a participant may elect to receive either a lump-sum amount equal to the value of the participant's vested interest in his or her account, or defer the payment to a future time no later than the year in which the participant attains age 70 1/2. There were no amounts payable to participants at December 31, 2005 or 2004.
 
j.    FLEXIBLE DIVIDEND OPTION - Participants are given the choice of (1) receiving cash dividends paid on vested shares held in their Dominion Stock Fund or (2) reinvesting the dividends in the Dominion Stock Fund.
 
k.    PLAN CHANGES - In June 2005, the Plan approved the following changes to participant investment offerings, effective July 6, 2005: The underlying investments for the Capital Guardian Balanced - Aggressive Growth Fund, Capital Guardian Balanced - Conservative Balanced Fund, and Capital Guardian Balanced - Moderate Fund (the Balanced Funds) were replaced. The Balanced Funds managed by Capital Guardian Trust Company were transferred to similar balanced funds managed by Northern Trust Global Securities. In addition, the Small Cap Growth Fund’s underlying investment, the RS Diversified Growth Fund, was replaced with the Vanguard Explorer Fund.
 
2.     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
 
a.
BASIS OF ACCOUNTING - The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America.
 
b.    USE OF ESTIMATES - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Plan management to make estimates and assumptions that affect the reported amounts of net assets available for benefits and changes therein. Actual results could differ from those estimates.
 
c.    RISKS AND UNCERTAINTIES - The Plan utilizes various investment instruments, including mutual funds and investment contracts. Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the financial statements.
 
d.    VALUATION OF INVESTMENTS:
 
(1)   Dominion Stock Fund - The investments of the fund are stated at fair value based on the closing sales price reported on the New York Stock Exchange on the last business day of the year.
 
(2)   Mutual Funds - Investments in mutual funds are stated at fair value using quoted market prices, which represent the net asset values of shares held by the Plan at year-end.
 
(3)     Common/Collective Trusts - Investments in common/collective trust funds are stated at estimated fair values, which have been determined based on the unit values of the funds. Unit values are determined by the bank sponsoring such funds by dividing the fund's net assets by its units outstanding at the valuation dates.
 
 Page 8
(4)     Investment in Certus Fund - The Certus Fund invests primarily in benefit responsive guaranteed investment contracts, which are stated at contract value. Contract value represents contributions made under the contract, plus earnings, less Plan withdrawals and administrative expenses.
 
(5)   Investment in Dresdner Fund - The Dresdner Fund invests primarily in corporate stocks, which are stated at fair value based on the closing sales price reported on the New York Stock Exchange on the last business day of the year.
 
(6)   Loans to Participants - Participant loans are valued at the outstanding loan balances.
 
  e.     INVESTMENT INCOME - Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividend income is recognized on the ex-dividend date.
 
           Realized gains and losses on the sale of investments are determined using the average cost method.
 
       Net investment income from mutual fund holdings includes dividend income and realized and unrealized
       appreciation/depreciation.

f.     EXPENSES - The Plan's expenses are accrued as incurred and are paid by the Plan, as provided by the Plan document.
 
g.    PAYMENT OF BENEFITS - Distributions from the Plan are recorded on the valuation date when a participant's valid withdrawal request is processed by the recordkeeper.
 
h.    TRANSFERS - Along with the Plan, Dominion also sponsors several other savings plans for employees of its subsidiaries. If participants change employment to a different covered subsidiary during the year, their account balances are transferred into the corresponding plan.  For the year ended December 31, 2005, transfers from other savings plans were $217,645 and Plan transfers to other plans were $4,602,836.
 
i.     CONCENTRATION OF INVESTMENTS - Included in the Plan's net assets available for benefits at December 31, 2005 and 2004, are investments in Dominion common stock amounting to approximately $146 million and $131 million, respectively, whose value could be subject to change based upon market conditions and company performance.
 
 


Page 9
 
3.   INVESTMENTS
 
The following presents investments that represent 5% or more of the Plan’s net assets available for benefits:
 
   
December 31,
         2005       
  
December 31,
         2004       
  
           
Dominion Stock Fund*
  
$
78,852,513
  
$
70,140,493
  
Dominion Stock Fund
    
66,700,518
    
60,423,761
  
Interest in Certus Fund
   
48,429,129
    
42,981,918
  
               
* Nonparticipant-directed
              
               

 
During 2005, the Plan's investments (including gains and losses on investments bought and sold) appreciated in value as follows:
 
Investment at Fair Value:
      
  Mutual Funds
 
$
1,999,647
  
  Dominion Stock Fund
    
18,052,685
  
         
Investments at Estimated Fair Value:
        
  Common/Collective Trust Funds
    
1,075,522
  
         
    Total
  
$
21,127,854
  



Page 10

4.   NONPARTICIPANT-DIRECTED INVESTMENTS
 
      Information about the net assets and the significant components of the changes in net assets relating to the nonparticipant-directed
      investments is as follows:
 
   
December 31,
         2005       
  
December 31,
         2004       
  
Net Assets:
          
           
  Investments:
          
    Dominion Stock Fund
  
$
78,852,513
  
$
70,140,493
  
    Common/Collective Trusts
    
25,389
    
12,283
 
               
         Total Investments
    
78,877,902
    
70,152,776
  
               
  Receivables
    
244,452
    
107,621
  
               
           Total Assets
    
79,122,354
    
70,260,397
  
               
  Liabilities:
             
    Payables for Investments Purchased
    
41,178
    
107,317
  
    Administrative Expenses Payable
   
3,957
    
3,924
  
    Other Liabilities
    
1,538
    
--
  
               
            Total Liabilities
    
46,673
    
111,241
  
               
NET ASSETS AVAILABLE FOR BENEFITS
  
$
79,075,681
  
$
70,149,156
  
 
   
Year Ended
December 31,
         2005       
  
       
Changes in Net Assets:
      
  Net Appreciation in Fair Value of Investments
 
$
9,625,287
  
  Dividends
    
2,700,741
 
  Interest
   
4,263
 
  Contributions
    
3,975,329
 
  Benefits Paid to Participants
    
(2,935,727
)
  Administrative Expenses
    
(31,152
)
  Transfers to Participant-Directed Investments
    
(2,784,007
)
  Transfers of Participants’ Assets to Other Plans
    
(1,628,209
)
         
Net Increase in Net Assets
  
$
8,926,525
  


Page 11

5.   PLAN TERMINATION
 
Although they have not expressed any intention to do so, the Participating Companies have the right under the Plan to discontinue their contributions at any time and to terminate the Plan subject to the provisions set forth in ERISA. In the event of any termination of the Plan, or upon complete or partial discontinuance of contributions, the accounts of each affected participant shall become fully vested.

6.   PLAN INTEREST IN MASTER TRUST
 
The Plan’s investment in the Certus Fund and the Dresdner Fund are held in a Master Trust that was established for the investment of assets for the Plan and other employee benefit plans of Dominion and its subsidiaries. Mellon Bank, N.A. holds the assets of the Master Trust.
 
Certus Fund - At December 31, 2005 and 2004, the Plan’s interest in the net assets of the Certus Fund was approximately 8% and 7%, respectively. Investment income and administrative expenses relating to the Certus Fund are allocated to the individual plans based upon average monthly balances invested by each plan. The following tables present the value of the undivided investments (and related investment income) in the Certus Fund:
 
   
December 31,
         2005       
  
December 31,
         2004       
  
           
Guaranteed Investment Contracts (contract value)
  
$
610,630,337
  
$
583,020,568
  
Short-term Investment Fund (estimated fair value)
    
18,297,536
    
27,315,302
  
Registered Investment Companies
   
7,420,613
    
10,955,564
  
Interest Receivable
    
2,205,651
    
2,138,217
  
               
            Total
  
$
638,554,137
  
$
623,429,651
  
 
Investment income for the Certus Fund is as follows:
 
   
Year Ended
December 31,
         2005       
  
       
Registered Investment Companies
 
$
487,314
  
Net Investment Appreciation
    
487,314
 
         
Interest
    
27,680,666
 
Less: Investment Expenses
    
(1,091,198
)
         
   Total
  
$
27,076,782
  

The aggregate fair value of the benefit-responsive investment contracts and short-term investments of the Certus Fund at both December 31, 2005 and 2004, was approximately $635 million. The average yield on assets on December 31, 2005 and 2004, was estimated at 4.62% and 4.53%, respectively. The average duration of investment contracts within the Certus Fund was 3.06 years at December 31, 2005 and 2.84 years at December 31, 2004. The crediting interest rates used to determine fair value for the contracts as of December 31, 2005 ranged from 2.74% to 6.23%. The crediting rates on certain of these contracts reset periodically, based upon individual contract terms, and have interest rates of not less than 0%.

Page 12
 
In the event of certain Plan-initiated events, such as premature termination of the contracts by the Plan, plant closings, layoffs, Plan termination, bankruptcy, mergers, and early retirement incentives, contracts will not be eligible for book value disbursements. Such events may cause liquidation of all or a portion of a contract at a market value adjustment.
 
Dresdner Fund - At both December 31, 2005 and 2004, the Plan’s interest in the net assets of the Dresdner Fund was less than 1%. Investment income and administrative expenses relating to the Dresdner Fund are allocated to the individual plans based upon average monthly balances invested by each plan. The following tables present the value of the undivided investments (and related investment income) in the Dresdner Fund:
 
   
December 31,
         2005       
  
December 31,
         2004       
  
           
Corporate Stocks
  
$
51,918,696
  
$
46,859,209
  
Short-term Investment Fund (estimated fair value)
    
2,119,170
   
745,744
 
Registered Investment Companies
   
8,066,395
   
2,804,805
 
Payables
    
(59,143
)
  
(58,096
)
      Total
  
$
62,045,118
  
$
50,351,662
  

Investment income for the Dresdner Fund is as follows:

   
Year Ended
December 31,
         2005       
  
       
Interest
  
$
58,265
  
Dividends
    
378,345
  
Net Appreciation in Fair Value of Investments
    
4,449,398
  
         
      Total
  
$
4,886,008
  
 

 
7.   FEDERAL INCOME TAX STATUS
 
The Plan is a qualified employees’ profit sharing trust and employee stock ownership plan under Sections 401(a), 401(k) and 404(k) of the IRC and, as such, is exempt from Federal income taxes under Section 501(a). Pursuant to Section 402(a) of the IRC, a participant is not taxed on the income and pretax contributions allocated to the participant's account until such time as the participant or the participant's beneficiaries receive distributions from the Plan.
 
The Plan obtained its latest determination letter on February 24, 2003, in which the Internal Revenue Service stated that the Plan, as then designed, was in compliance with the applicable requirements of the IRC. The Plan has been amended since receiving the determination letter; however, Dominion believes that the Plan is currently designed and operated in compliance with the applicable requirements of the IRC. Therefore, no provision for income taxes has been included in the plan’s financial statements.
 


Page 13
 
8.   EXEMPT PARTY-IN-INTEREST TRANSACTIONS
 
Certain Plan investments are shares of Common / Collective Trusts and a Master Trust managed by Mellon Bank. Mellon Bank is the trustee as defined by the Plan and, therefore, these transactions qualify as exempt party-in-interest transactions. Fees paid by the Plan for investment management services were included as a reduction of the return earned on each fund.
 
At December 31, 2005 and 2004, the Plan held 1,885,402 and 1,927,432 shares, respectively, of common stock of Dominion, the Plan sponsor, with a cost basis of approximately $96 million and $92 million, respectively. During the year ended December 31, 2005, the Plan recorded dividend income of approximately $5 million.
 

 


Page 14

DOMINION HOURLY EMPLOYEE SAVINGS PLAN

SUPPLEMENTAL SCHEDULE AS OF DECEMBER 31, 2005
FORM 5500, SCHEDULE H, ITEM 4(i): SCHEDULE OF ASSETS (HELD AT END OF YEAR)
 
 
Description
  
 
Cost
  
Current
Value
  
           
Dominion Stock Fund*
  
$
96,099,100
  
$
145,553,031
  
               
Common/Collective Trusts:
              
               
  EB Temporary Investment Fund*
    
85,002
    
85,002
  
  Northern Trust Global Securities - Moderate
    
5,262,166
    
5,491,778
  
  Northern Trust Global Securities - Conservative
    
270,579
    
276,285
  
  Northern Trust Global Securities - Aggressive Growth
    
567,649
    
595,636
  
  Large Cap Value Fund
    
945,920
    
1,101,881
  
  Wilshire 4500 Index Fund*
    
1,710,581
    
2,022,244
  
  EB Mellon Total Return Fund*
    
1,872,340
    
2,074,407
  
  Mellon S&P 500 Index Daily Fund*
   
8,450,613
    
11,078,627
  
               
     
19,164,850
   
22,725,860
  
Mutual Funds:
              
               
  Real Estate Fund
    
4,722,839
    
4,794,682
  
  Euro Pacific Growth Fund
    
4,507,851
    
5,888,652
  
  Vanguard Explorer Fund
   
9,131,730
    
8,968,253
  
  Small Cap Value Fund
    
8,243,557
    
8,819,686
  
               
     
26,605,977
    
28,471,273
  
               
Loans to Participants (range of interest rates - 6.25%-8.00%)
    
5,815,237
    
5,815,237
  
               
TOTAL
 
$
147,685,164
  
$
202,565,401
  
               
               
* A party-in-interest as defined by ERISA.
              
               

 


Page 15

DOMINION HOURLY EMPLOYEE SAVINGS PLAN

SUPPLEMENTAL SCHEDULE FOR THE YEAR ENDED DECEMBER 31, 2005
FORM 5500, SCHEDULE H, ITEM 4(j): SCHEDULE OF REPORTABLE TRANSACTIONS
 
Single Transactions in Excess of Five Percent of Plan Assets

There were no reportable transactions.


Series of Transactions in Excess of Five Percent of Plan Assets
 


 
Shares/
Par Value
 
Security
Description
 
Number of
Transactions
 
Cost of
Purchases
 
Proceeds
From Sales
Cost of
Assets
Disposed
 
Net Gain
             
             
224,214   
Dominion Stock Fund*
104
$17,061,830
$                 -
$                 -
$               -
218,460   
Dominion Stock Fund*
327
-
16,550,283
10,705,468
5,844,815
16,808,810   
EB Temporary Investment Fund*
182
16,808,810
-
-
-
16,754,471   
EB Temporary Investment Fund*
128
-
16,754,471
16,754,471
-
* A party-in-interest as defined by ERISA.





SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the Dominion Resources Services, Inc. Administrative Benefits Committee has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.


 
DOMINION HOURLY EMPLOYEE
                     SAVINGS PLAN               
(name of plan)
   
   
Date: June 22, 2006
                          /s/ Anne M. Grier                            
 
Anne M. Grier
Chair, Dominion Resources Services, Inc.
Administrative Benefits Committee