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                                                                    Exhibit 4.15


      FORM OF CAPITAL SECURITIES AGREEMENT AS TO EXPENSES AND LIABILITIES


     THIS AGREEMENT AS TO EXPENSES AND LIABILITIES (the "Agreement") dated as of
_____________ between DOMINION RESOURCES, INC., a Virginia corporation
("Dominion Resources"), and DOMINION RESOURCES CAPITAL TRUST IV, a Delaware
business trust (the "Trust").

     WHEREAS, the Trust intends to issue its ___% Common Securities (the "Common
Securities") to, and purchase ___% _____________ Debentures (the "Debentures")
from, Dominion Resources, and to issue and sell its ___% Capital Securities (the
"Capital Securities") with such powers, preferences and special rights and
restrictions as are set forth in the Amended and Restated Trust Agreement of the
Trust dated as of _____________, as the same may be amended from time to time
(the "Trust Agreement");

     WHEREAS, Dominion Resources will directly or indirectly own all of the
Common Securities of the Trust and will issue the Debentures;

     NOW, THEREFORE, in consideration of the purchase by each holder of the
Capital Securities, which purchase Dominion Resources hereby agrees shall
benefit Dominion Resources and which purchase Dominion Resources acknowledges
will be made in reliance upon the execution and delivery of this Agreement,
Dominion Resources and the Trust hereby agree as follows:


                                   ARTICLE I
                        GUARANTEE BY DOMINION RESOURCES

     1.1  Guarantee by Dominion Resources.  Subject to the terms and conditions
hereof, Dominion Resources hereby irrevocably and unconditionally guarantees to
each person or entity to whom the Trust is now or hereafter becomes indebted or
liable (the "Beneficiaries") the full payment, when and as due, of any and all
Obligations (as hereinafter defined) to such Beneficiaries.  As used herein,
"Obligations" means any costs, expenses or liabilities of the Trust, other than
obligations of the Trust to pay to holders of any Capital Securities the amounts
due such holders pursuant to the terms of the Capital Securities.  This
Agreement is intended to be for the benefit of, and to be enforceable by, all
such Beneficiaries, whether or not such Beneficiaries have received notice
hereof.

     1.2  Term of Agreement.  This Agreement shall terminate and be of no
further force and effect upon the later of (a) the date on which full payment
has been made of all
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amounts payable to all holders of all the Capital Securities (whether upon
redemption, liquidation, exchange or otherwise) and (b) the date on which there
are no Beneficiaries remaining; provided, however, that this Agreement shall
continue to be effective or shall be reinstated, as the case may be, if at any
time any holder of Capital Securities or any Beneficiary must restore payment of
any sums paid under the Capital Securities, under any Obligation, under the
Capital Securities Guarantee Agreement dated the date hereof by Dominion
Resources and The Chase Manhattan Bank, as guarantee trustee, or under this
Agreement for any reason whatsoever. This Agreement is continuing, irrevocable,
unconditional and absolute.

     1.3  Waiver of Notice.  Dominion Resources hereby waives notice of
acceptance of this Agreement and of any Obligation to which it applies or may
apply, and Dominion Resources hereby waives presentment, demand for payment,
protest, notice of nonpayment, notice of dishonor, notice of redemption and all
other notices and demands.

     1.4  No Impairment. The obligations, covenants, agreements and duties of
Dominion Resources under this Agreement shall in no way be affected or impaired
by reason of the happening from time to time of any of the following:

          (a) the extension of time for the payment by the Trust of all or any
portion of the Obligations or for the performance of any other obligation under,
arising out of, or in connection with, the Obligations;

          (b) any failure, omission, delay or lack of diligence on the part of
the Beneficiaries to enforce, assert or exercise any right, privilege, power or
remedy conferred on the Beneficiaries with respect to the Obligations or any
action on the part of the Trust granting indulgence or extension of any kind; or

          (c) the voluntary or involuntary liquidation, dissolution, sale of any
collateral, receivership, insolvency, bankruptcy, assignment for the benefit of
creditors, reorganization, arrangement, composition or readjustment of debt of,
or other similar proceedings affecting, the Trust or any of the assets of the
Trust.

There shall be no obligation of the Beneficiaries to give notice to, or obtain
the consent of, Dominion Resources with respect to the happening of any of the
foregoing.

     1.5  Enforcement. A Beneficiary may enforce this Agreement directly against
Dominion Resources, and Dominion Resources waives any right or remedy to require
that any action be brought against the Trust or any other person or entity
before proceeding against Dominion Resources.

     1.6  Subrogation.  Dominion Resources shall be subrogated to all rights (if
any) of the Trust in respect of any amounts paid to the Beneficiaries by
Dominion Resources under this Agreement; provided, however, that Dominion
Resources shall not (except to the extent required by mandatory provisions of
law) be entitled to enforce or exercise any rights which it may acquire by way
of subrogation or any indemnity,

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reimbursement or other agreement, in all cases as a result of payment under this
Agreement, if, at the time of any such payment, any amounts are due and unpaid
under this Agreement.

                                  ARTICLE II
                                BINDING EFFECT

     2.1  Binding Effect.  All guarantees and agreements contained in this
Agreement shall bind the successors, assigns, receivers, trustees and
representatives of Dominion Resources and shall inure to the benefit of the
Beneficiaries.

     2.2  Amendment.  So long as there remains any Beneficiary or any Capital
Securities outstanding, this Agreement shall not be modified or amended in any
manner adverse to such Beneficiary or to the holders of the Capital Securities.

     2.3  Notices.  Any notice, request or other communication required or
permitted to be given hereunder shall be given in writing by delivering the same
by personal delivery, by facsimile transmission or by first-class mail,
addressed as follows (and if so given, shall be deemed given when so delivered,
upon receipt of confirmation if by facsimile, or three days after mailed if by
first-class mail):

          If to the Trust to:

               Dominion Resources Capital Trust IV
               c/o Dominion Resources, Inc.
               120 Tredegar Street
               Richmond, VA 23219
               Attention:  Treasurer
               Telecopy No.:  (804) 819-2211

          with a copy to:

               Dominion Resources, Inc.
               120 Tredegar Street
               Richmond, VA 23219
               Attention:  Treasurer
               Telecopy No.:  (804) 819-2211

     2.4  Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES).

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     THIS AGREEMENT is executed as of the day and year first above written.


                         DOMINION RESOURCES, INC.



                         By:  ___________________________________
                         Name:
                         Title:



                         DOMINION RESOURCES CAPITAL TRUST IV



                         By:  ___________________________________
                              as Administrative Trustee



                         By:  ___________________________________
                              as Administrative Trustee

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