FORM OF SUPPLEMENTAL INDENTURE



 Exhibit 4.2 
  

VIRGINIA ELECTRIC AND POWER COMPANY 
 Issuer

  
 AND 
  
 JPMORGAN CHASE BANK, N.A. 
 (formerly known as The Chase Manhattan Bank) 
 Trustee 
  

  
 _____________ Supplemental Indenture 
  
 Dated as of __________ ___, 200__ 
  

  
 $_____________ 
  
 200__ Series __ ____% Senior Notes 
  
 Due _______ 







 TABLE OF CONTENTS* 
  

					
	 ARTICLE I
 200__ SERIES __ ____% SENIOR NOTES

			
	 SECTION 101.
	  	 Establishment
	  	1
	 SECTION 102.
	  	 Definitions
	  	2
	 SECTION 103.
	  	 Payment of Principal and Interest
	  	4
	 SECTION 104.
	  	 Denominations
	  	5
	 SECTION 105.
	  	 Global Securities
	  	5
	 SECTION 106.
	  	 Redemption
	  	6
	 SECTION 107.
	  	 Sinking Fund
	  	6
	 SECTION 108.
	  	 Additional Interest
	  	6
	 SECTION 109.
	  	 Paying Agent
	  	7
	
	ARTICLE II
	MISCELLANEOUS PROVISIONS
			
	 SECTION 201.
	  	 Recitals by Company
	  	7
	 SECTION 202.
	  	 Ratification and Incorporation of Original Indenture
	  	7
	 SECTION 203.
	  	 Executed in Counterparts
	  	7
	 SECTION 204.
	  	 Assignment
	  	7



	*	This Table of Contents does not constitute part of the Indenture or have any bearing upon the interpretation of any of its terms and provisions. 








 THIS ___________ SUPPLEMENTAL INDENTURE is made as of the first day of ____________, 200__, by and
between VIRGINIA ELECTRIC AND POWER COMPANY, a Virginia corporation, having its principal office at 701 East Cary Street, Richmond, Virginia 23219 (the “Company”), and JPMORGAN CHASE BANK, N.A. (formerly known as The Chase Manhattan Bank),
a national banking association, as Trustee (herein called the “Trustee”). 
  
 WITNESSETH: 
  
 WHEREAS, the
Company has heretofore entered into a Senior Indenture, dated as of June 1, 1998 (the “Original Indenture”), as heretofore supplemented and amended, with the Trustee; 
  
 WHEREAS, the Original Indenture is incorporated herein by this reference and the Original Indenture, as heretofore
supplemented and amended and as further supplemented by this _____________ Supplemental Indenture, is herein called the “Indenture”; 
  
 WHEREAS, under the Original Indenture, a new series of Securities may at any time be established in accordance with the provisions of the Original
Indenture and the terms of such series may be described by a supplemental indenture executed by the Company and the Trustee; 
  
 WHEREAS, the Company proposes to create under the Indenture a series of Securities; 
  
 WHEREAS, additional Securities of other series hereafter established, except as may be limited in the Original Indenture as
at the time supplemented and modified, may be issued from time to time pursuant to the Indenture as at the time supplemented and modified; and 
  
 WHEREAS, all conditions necessary to authorize the execution and delivery of this _____________ Supplemental Indenture and to make it a valid and binding
obligation of the Company have been done or performed. 
  
 NOW,
THEREFORE, in consideration of the agreements and obligations set forth herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 
  
 ARTICLE I 
 200__ SERIES __ ____% SENIOR NOTES DUE ________ 
  
 SECTION 101. Establishment. There is hereby established a new series of Securities to be issued under the Indenture, to be designated as the
Company’s 200__ Series __ ____% Senior Notes Due _____, (the “Series __ Senior Notes”). 
  
 There are to be initially authenticated and delivered $__________ principal amount of Series __ Senior Notes, and such principal amount of the Series __
Senior Notes may be increased from time to time pursuant to Section 301 of the Indenture. All Series __ Senior Notes need not be issued at the same time and such series may be reopened at any time, without the consent of any Holder, for
issuances of additional Series __ Senior Notes. Any such additional 








 
Series __ Senior Notes will have the same interest rate, maturity and other terms as those initially issued. Further Series __ Senior Notes may also be
authenticated and delivered as provided by Sections 304, 305, 306, 906 and 1106 of the Original Indenture. 
  
 The Series __ Senior Notes shall be issued in definitive fully registered form without coupons, in substantially the form set out in Exhibit A
hereto. The entire initially issued principal amount of the Series __ Senior Notes shall initially be evidenced by one or more certificates issued to Cede & Co., as nominee for The Depository Trust Company. 
  
 The form of the Trustee’s Certificate of Authentication for the Series
__ Senior Notes shall be in substantially the form set forth in Exhibit B hereto. 
  
 Each Series __ Senior Note shall be dated the date of authentication thereof and shall bear interest from the date of original issuance thereof or from the most recent Interest Payment Date to which interest has been
paid or duly provided for. 
  
 SECTION 102. Definitions.
The following defined terms used herein shall, unless the context otherwise requires, have the meanings specified below. Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Original
Indenture. 
  
 “Adjusted Treasury Rate” means, with
respect to any Redemption Date: (i) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor
publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant
Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable
Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month); or (ii) if such release (or any successor release) is not
published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury
Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 
  
 “Business Day” means a day other than (i) a Saturday or a Sunday, (ii) a day on which banks in New York, New York are authorized or
obligated by law or executive order to remain closed or (iii) a day on which the Corporate Trust Office is closed for business. 
  
 “Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity
comparable to the remaining term of the Series __ Senior Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of such Series __ Senior Notes. 
  

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 “Comparable Treasury Price” means (i) the average of the Reference Treasury Dealer
Quotations for any Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (ii) if the Independent Investment Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all
such quotations. 
  
 “Independent Investment Banker”
means _______________ or _________________ and their respective successors as selected by the Company, or if none of such firms is willing or able to serve as such, an independent investment and banking institution of national standing appointed by
the Company. 
  
 “Interest Payment Dates” means
__________ ___ and ____________ ___ of each year, commencing on ___________ ___, 200__. 
  
 “Optional Redemption Price” has the meaning specified in Section 106. 
  
 “Original Issue Date” means __________ ___, 200__. 
  
 “Outstanding,” when used with respect to the Series __ Senior Notes, means, as of the date of determination, all Series __ Senior Notes,
theretofore authenticated and delivered under the Indenture, except: 
  
 (i) Series __ Senior Notes theretofore canceled by the Trustee or delivered to the Trustee for cancellation; 
  
 (ii) Series __ Senior Notes for whose payment at Maturity the necessary amount of money or money’s worth has been theretofore
deposited (other than pursuant to Section 1303 of the Original Indenture) with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying
Agent) for the Holders of such Series __ Senior Notes; provided that, if such Series __ Senior Notes are to be redeemed, notice of such redemption has been duly given pursuant to the Original Indenture or provision therefor satisfactory to the
Trustee has been made; 
  
 (iii) Series __ Senior
Notes with respect to which the Company has effected Defeasance pursuant to Section 1302 of the Original Indenture; and 
  
 (iv) Series __ Senior Notes that have been paid pursuant to Section 306 of the Original Indenture or in exchange for or in lieu of
which other Series __ Senior Notes have been authenticated and delivered pursuant to the Indenture, other than any such Series __ Senior Notes in respect of which there shall have been presented to the Trustee proof satisfactory to it that such
Series __ Senior Notes are held by a bona fide purchaser in whose hands such Series __ Senior Notes are valid obligations of the Company; provided, however, that in determining whether the Holders of the requisite principal amount of Outstanding
Series __ Senior Notes have given, made or taken any request, demand, authorization, direction, notice, consent or waiver or other action hereunder as of any date, Series __ Senior Notes owned by the Company or any other obligor upon the Series __
Senior Notes or any Affiliate of the Company or such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making any such determination or relying upon any 

  

 3 








 
such request, demand, authorization, direction, notice, consent, waiver or other action only Series __ Senior Notes which the Trustee actually knows to be so
owned shall be so disregarded. Series __ Senior Notes so owned which shall have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee (A) the pledgee’s right so to act with
respect to such Series __ Senior Notes and (B) that the pledgee is not the Company or any other obligor upon the Series __ Senior Notes or an Affiliate of the Company or such other obligor. 
  
 “Reference Treasury Dealer” means: (i) _________________ or
_________________ and their respective successors as selected by the Company; provided that, if any such firm or its successors ceases to be a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”),
the Company shall substitute another Primary Treasury Dealer; and (ii) up to _______ other Primary Treasury Dealers selected by the Company. 
  
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined
by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City
time, on the third Business Day preceding such Redemption Date. 
  
 “Regular Record Date” means, with respect to each Interest Payment Date, the close of business on the Business Day preceding such Interest Payment Date; provided, that with respect to Series __ Senior Notes that are not
represented by one or more Global Securities, the Regular Record Date shall be the close of business on the 15th
calendar day (whether or not a Business Day) preceding such Interest Payment Date. 
  
 “Remaining Life” means the remaining term of the Series __ Senior Notes. 
  
 “Stated Maturity” means __________ __, 20___. 
  
 SECTION 103. Payment of Principal and Interest. The principal of the Series __ Senior Notes shall be due at the Stated Maturity (unless earlier
redeemed). The unpaid principal amount of the Series __ Senior Notes shall bear interest at the rate of ____% per annum until paid or duly provided for, such interest to accrue from the Original Issue Date or from the most recent Interest Payment
Date to which interest has been paid or duly provided for. Interest shall be paid semi-annually in arrears on each Interest Payment Date to the Person in whose name the Series __ Senior Notes are registered on the Regular Record Date for such
Interest Payment Date; provided that interest payable at the Stated Maturity of principal or on a Redemption Date as provided herein will be paid to the Person to whom principal is payable. Any such interest that is not so punctually paid or duly
provided for will forthwith cease to be payable to the Holders on such Regular Record Date and may either be paid to the Person or Persons in whose name the Series __ Senior Notes are registered at the close of business on a Special Record Date for
the payment of such defaulted interest to be fixed by the Trustee (in accordance with Section 307 of the Original Indenture), notice whereof shall be given to Holders of the Series __ Senior Notes not less than ten (10) days prior to such
Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, on 

  

 4 








 
which the Series __ Senior Notes may be listed, and upon such notice as may be required by any such exchange, all as more fully provided in the Original
Indenture. 
  
 Payments of interest on the Series __ Senior Notes
will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments for the Series __ Senior Notes shall be computed and paid on the basis of a 360-day year of twelve 30-day months. In the event that any date on
which interest is payable on the Series __ Senior Notes is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any
such delay), in each case with the same force and effect as if made on the date the payment was originally payable. 
  
 Payment of the principal and interest on the Series __ Senior Notes shall be made at the office of the Paying Agent in such currency of the United States
of America as at the time of payment is legal tender for payment of public and private debts, with any such payment that is due at the Stated Maturity of any Series __ Senior Notes or on a Redemption Date being made upon surrender of such Series __
Senior Notes to the Paying Agent. Payments of interest (including interest on any Interest Payment Date) will be made, subject to such surrender where applicable, at the option of the Company, (i) by check mailed to the address of the Person
entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least sixteen
(16) days prior to the date for payment by the Person entitled thereto. In the event that any date on which principal and interest is payable on the Series __ Senior Notes is not a Business Day, then payment of the principal and interest
payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each case with the same force and effect as if made on the date the payment was originally
payable. 
  
 SECTION 104. Denominations. The Series __
Senior Notes may be issued in denominations of $1,000, or any integral multiple thereof. 
  
 SECTION 105. Global Securities. The Series __ Senior Notes will be issued initially in the form of one or more Global Securities registered in the name of the Depositary (which shall be The Depository Trust
Company) or its nominee. Except under the limited circumstances described below, Series __ Senior Notes represented by such Global Securities will not be exchangeable for, and will not otherwise be issuable as, Series __ Senior Notes in definitive
form. The Global Securities described above may not be transferred except by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or to a successor Depositary or its
nominee. 
  
 Owners of beneficial interests in such a Global
Security will not be considered the Holders thereof for any purpose under the Indenture, and no Global Security representing a Series __ Senior Note shall be exchangeable, except for another Global Security of like denomination and tenor to be
registered in the name of the Depositary or its nominee or to a successor Depositary or its nominee or except as described below. The rights of Holders of such Global Security shall be exercised only through the Depositary. 
  

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 A Global Security shall be exchangeable for Series __ Senior Notes registered in the names of persons
other than the Depositary or its nominee only if (i) the Depositary notifies the Company that it is unwilling or unable to continue as a Depositary for such Global Security and no successor Depositary shall have been appointed by the Company
within 90 days of receipt by the Company of such notification, or if at any time the Depositary ceases to be a clearing agency registered under the Exchange Act at a time when the Depositary is required to be so registered to act as such Depositary
and no successor Depositary shall have been appointed by the Company within 90 days after it becomes aware of such cessation, or (ii) the Company in its sole discretion and subject to the procedures of the Depositary determines that such Global
Security shall be so exchangeable. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Series __ Senior Notes registered in such names as the Depositary shall direct. 
  
 SECTION 106. Redemption. The Series __ Senior Notes are redeemable, in
whole or in part, at any time, and at the option of the Company, at a Redemption Price (“Optional Redemption Price”) equal to the greater of: 
  
 (i) 100% of the principal amount of Series __ Senior Notes then Outstanding to be so redeemed, or 
  
 (ii) the sum of the present values of the remaining
scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve
30-day months) at the Adjusted Treasury Rate, plus ___ basis points, as calculated by an Independent Investment Banker, 
  
 plus, in either of the above cases, accrued and unpaid interest thereon to the Redemption Date. 
  
 The Adjusted Treasury Rate shall be calculated on the third Business Day
preceding the Redemption Date. 
  
 Notwithstanding
Section 1104 of the Original Indenture, (x) notice of redemption under this Section 106 shall with respect to the Series __ Senior Notes be given by first-class mail, postage prepaid, mailed not less than 20 nor more than 60 days
prior to the Redemption Date, to each Holder of Series __ Senior Notes to be redeemed, at his address appearing in the Security Register, and (y) the notice of such redemption need not set forth the Redemption Price but only the manner of
calculation thereof. The Company shall notify the Trustee of the Redemption Price promptly after the calculation thereof and the Trustee shall have no responsibility for such calculation. 
  
 SECTION 107. Sinking Fund. The Series __ Senior Notes shall not have a sinking fund. 
  
 SECTION 108. Additional Interest. Any principal of and installment of
interest on the Series __ Senior Notes that is overdue shall bear interest at the rate of ____% (to the extent 

  

 6 








 
that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and
such interest shall be payable on demand. 
  
 SECTION 109.
Paying Agent. The Trustee shall initially serve as Paying Agent with respect to the Series __ Senior Notes, with the Place of Payment initially being the Corporate Trust Office of the Trustee. 
  
 ARTICLE II 
 MISCELLANEOUS PROVISIONS 
  
 SECTION 201. Recitals by Company. The recitals in this _______ Supplemental Indenture are made by the Company only and not by the Trustee, and all of the provisions contained in the Original Indenture in
respect of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable in respect of the Series __ Senior Notes and of this ________ Supplemental Indenture as fully and with like effect as if set forth herein in full.

  
 SECTION 202. Ratification and Incorporation of Original
Indenture. As supplemented hereby, the Original Indenture is in all respects ratified and confirmed, and the Original Indenture and this _________ Supplemental Indenture shall be read, taken and construed as one and the same instrument.

  
 SECTION 203. Executed in Counterparts. This _______
Supplemental Indenture may be executed in several counterparts, each of which shall be deemed to be an original, and such counterparts shall together constitute but one and the same instrument. 
  
 SECTION 204. Assignment. The Company shall have the right at all times
to assign any of its rights or obligations under the Indenture with respect to the Series __ Senior Notes to a direct or indirect wholly-owned subsidiary of the Company; provided that, in the event of any such assignment, the Company shall remain
fully liable for the performance of all such obligations. The Indenture may also be assigned by the Company in connection with a transaction described in Article Eight of the Original Indenture. 
  

 7 








 IN WITNESS WHEREOF, each party hereto has caused this instrument to be signed in its name and behalf by
its duly authorized officer, all as of the day and year first above written. 
  

			
	 VIRGINIA ELECTRIC AND POWER COMPANY

		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	JPMORGAN CHASE BANK, N.A. (FORMERLY KNOWN AS THE CHASE MANHATTAN BANK), as Trustee
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 


  

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 EXHIBIT A 

 
 FORM OF 
 200   SERIES                  % SENIOR NOTE 
 DUE                      
  
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF [CEDE & CO.] OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO [CEDE & CO.], ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER
HEREOF, [CEDE & CO.,] HAS AN INTEREST HEREIN.]** 
  
 [THIS SERIES __ SENIOR NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SERIES __ SENIOR NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN
PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SERIES __ SENIOR NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE.]** 
  

  
 VIRGINIA ELECTRIC AND 
 POWER COMPANY

  

  
 $_____________ 
 200   SERIES
                 % SENIOR NOTE 
 DUE
                     
  

			
	 No. R-
	  	CUSIP No.                     

  
 Virginia Electric and
Power Company, a corporation duly organized and existing under the laws of Virginia (herein called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to
pay to [Cede & Co.]**, or registered assigns (the “Holder”), the principal sum of ____________ Dollars ($_____) on __________ ___, 20___ and to pay interest thereon from _________ __, 200__ or from the most recent Interest Payment
Date to which interest has been paid or duly provided for, semi-annually in 


	**	Insert in Global Securities. 








 arrears on _________ __, and _________ __ of each year, commencing on ________ __, 200__, at the rate of ______% per
annum, until the principal hereof is paid or made available for payment, provided that any principal, and any such installment of interest, that is overdue shall bear interest at the rate of ____% per annum (to the extent that the payment of such
interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Series __ Senior Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest,
which shall be the close of business on the Business Day preceding such Interest Payment Date; provided, that with respect to Series __ Senior Notes that are not represented by one or more Global Securities, the Regular Record Date shall be
the close of business on the 15th calendar day (whether or not a Business Day) preceding such Interest Payment Date,
provided, that interest payable at the Stated Maturity of principal or on a Redemption Date will be paid to the Person to whom principal is payable. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to
the Holder on such Regular Record Date and may either be paid to the Person in whose name this Series __ Senior Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Series __ Senior Notes not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Series __ Senior Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 
  
 Payments of interest on the Series __ Senior Notes will include interest
accrued to but excluding the respective Interest Payment Dates. Interest payments for the Series __ Senior Notes shall be computed and paid on the basis of a 360-day year of twelve 30-day months. In the event that any date on which interest is
payable on the Series __ Senior Notes is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each
case with the same force and effect as if made on the date the payment was originally payable. 
  
 Payment of the principal of and premium, if any, and interest on this Series __ Senior Note will be made at the office of the Paying Agent, in the Borough of Manhattan, City and State of New York, in such coin or
currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, with any such payment that is due at the Stated Maturity of any Series __ Senior Note or upon redemption being made upon
surrender of such Series __ Senior Note to such office or agency; provided, however, that at the option of the Company payment of interest, subject to such surrender where applicable, may be made (i) by check mailed to the address of the Person
entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least sixteen
(16) days prior to the date for payment by the Person entitled thereto. 
  
 Reference is hereby made to the further provisions of this Series __ Senior Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

  

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 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the
reverse hereof by manual signature, this Series __ Senior Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
  
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 
  

									
	 Dated:
	 	 	 	 Virginia Electric and Power Company

					
	 	 	 	 	 	 	By:	 	 
					
	 	 	 	 	 	 	 Name:
	 	 
					
	 	 	 	 	 	 	 Title:
	 	 

  
 (SEAL) 
 Attest: 
  

	
	
	  
	 Name:____________

	 [Assistant] Corporate Secretary


  

 3 








 [REVERSE OF SERIES __ ______% SENIOR NOTE] 
  
 This Security is one of a duly authorized issue of securities of the Company
(herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of June 1, 1998, as heretofore supplemented and amended and as further supplemented by a __________ Supplemental Indenture
dated as of __________ 1, 200__ (collectively, as amended or supplemented from time to time, herein called the “Indenture,” which term shall have the meaning assigned to it in such instrument), between the Company and JPMorgan Chase Bank,
N. A. (formerly known as The Chase Manhattan Bank), as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the
series designated on the face hereof (the “Series __ Senior Notes”) which is unlimited in aggregate principal amount. 
  
 The Series __ Senior Notes are redeemable, in whole or in part, at any time in the manner and with the effect provided in the Indenture. 
  
 If an Event of Default with respect to Series __ Senior Notes shall occur and
be continuing, the principal of the Series __ Senior Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time
Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all
Securities of such series, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Series __ Senior Note shall be conclusive and binding upon such Holder and upon all future Holders
of this Series __ Senior Note and of any Series __ Senior Note issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Series __ Senior Note.

  
 As provided in and subject to the provisions of the Indenture,
the Holder of this Series __ Senior Note shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously
given the Trustee written notice of a continuing Event of Default with respect to the Series __ Senior Notes, the Holders of not less than a majority in principal amount of the Series __ Senior Notes at the time Outstanding shall have made written
request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Series __
Senior Notes at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this Series __ 

  

 4 








 
Senior Note for the enforcement of any payment of principal hereof or premium, if any, or interest hereon on or after the respective due dates expressed or
provided for herein. 
  
 No reference herein to the Indenture and
no provision of this Series __ Senior Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Series __ Senior Note at the
times, place and rate, and in the coin or currency, herein prescribed. 
  
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Series __ Senior Note is registrable in the Security Register, upon surrender of this Series __ Senior Note for registration of transfer
at the office or agency of the Company in any place where the principal of, premium, if any, and interest on this Series __ Senior Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Series __ Senior Notes and of like tenor, of authorized denominations and for the same aggregate
principal amount, will be issued to the designated transferee or transferees. 
  
 The Series __ Senior Notes are issuable only in registered form without coupons in denominations of $1,000 and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set
forth, Series __ Senior Notes are exchangeable for a like aggregate principal amount of Series __ Senior Notes having the same Stated Maturity and of like tenor of any authorized denominations as requested by the Holder upon surrender of the Series
__ Senior Note or Series __ Senior Notes to be exchanged at the office or agency of the Company. 
  
 No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith. 
  
 Prior to due presentment of this Series __ Senior Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for
all purposes, whether or not this Series __ Senior Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
  
 All terms used in this Series __ Senior Note that are defined in the Indenture shall have the meanings assigned to them in
the Indenture. 
  

 5 








 ABBREVIATIONS 
  
 The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to
applicable laws or regulations: 
  

			
	TEN COM -	  	as tenants in common
		
	TEN ENT -	  	as tenants by the entireties
		
	JT TEN -	  	 as joint tenants with rights of survivorship and not as
 tenants in common

		
	UNIF GIFT MIN ACT -	  	________________________________ Custodian for
	 	  	(Cust)
		
	 	  	 ________________________________
 (Minor)

		
	 	  	Under Uniform Gifts to Minors Act of
		
	 	  	 ________________________________
 (State)

	
	 Additional abbreviations may also be used though not on the above list.

	
	 _____________________________________________________________


  

 6 








 FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto 
  

			
	 	 	.

  
 (please insert Social
Security or other identifying number of assignee) 
  

			
	 	 	.
		
	 	 	.
		
	 	 	.

  
 PLEASE PRINT OR TYPEWRITE NAME AND
ADDRESS, INCLUDING POSTAL ZIP CODE OF ASSIGNEE 
  
 the within Series __ Senior
Note and all rights thereunder, hereby irrevocably constituting and appointing 
  

			
	 	 	.
		
	 	 	.
		
	 	 	.

  

			
	 	 	.
		
	 	 	.
		
	 	 	.

  
 agent to transfer said Series __
Senior Note on the books of the Company, with full power of substitution in the premises. 
  
 Dated:                             ,
         
  

	
	
	 


  
 NOTICE: The signature to this
assignment must correspond with the name as written upon the face of the within instrument in every particular without alteration or enlargement, or any change whatever. 
  

 7 








  
 EXHIBIT B 

CERTIFICATE OF AUTHENTICATION 
  
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
  

			
	 JPMORGAN CHASE BANK, N.A.
 (formerly known as
The Chase Manhattan Bank), as Trustee

		
	By:	 	 
	 	 	 Authorized Officer