RICHMOND, Va., Sept. 18, 2015 /PRNewswire/ -- Atlantic Coast
Pipeline, LLC, today formally applied to the Federal Energy
Regulatory Commission for permission to build a 564-mile interstate
natural gas transmission pipeline designed to meet the need for
cleaner electricity generation, satisfy the growing demand for
natural gas to heat homes and businesses, and promote consumer
savings and economic growth.
The Federal Energy Regulatory Commission (FERC) is being asked
to certify the public benefit and necessity of the project. The
FERC and a number of participating agencies will examine fully a
broad number of issues, including public safety, air quality, water
resources, geology, soils, wildlife and vegetation, threatened and
endangered species, land and visual resources, cultural and
historic resources, noise, cumulative impacts and reasonable
alternatives.
Four major U.S. energy companies – Dominion (NYSE: D), Duke
Energy (NYSE: DUK), Piedmont Natural Gas (NYSE: PNY) and AGL
Resources (NYSE: GAS) – formed Atlantic Coast Pipeline, LLC,
(Atlantic) to build and own the proposed Atlantic Coast Pipeline
(ACP). The pipeline would transport abundant natural gas supplies
from Harrison County, W.Va.,
southeast through Virginia with an
extension to Chesapeake, Va., and
south through central North
Carolina to Robeson County.
Pending regulatory approval, construction is expected to begin in
the second half of 2016 and the pipeline is expected to be in
service in the fourth quarter of 2018.
The 30,000-page application, environmental resource reports and
exhibits – a stack of paper more than 10 feet tall – represent an
extensive study by Dominion and outside experts as well as public
input to find the best route to bring the much-needed energy to
Virginia and North Carolina. Atlantic has considered more
than 3,000 miles of potential routes and made hundreds of route
adjustments based on discussions with landowners, public officials
and others. Atlantic has participated in more than 60 public
meetings involving thousands of interested individuals, agencies
and organizations.
"The Atlantic Coast Pipeline is essential to meeting the clean
energy needs of Virginia and
North Carolina, and has
significant benefits for West
Virginia as well," said Diane
Leopold, president of Dominion Energy, the Dominion business
unit responsible for building and operating the project. "The ACP
will enhance overall energy reliability in the region,
bringing natural gas that will heat homes and power businesses,
support thousands of jobs, and promote lower energy prices and
economic development. It will be used to fuel a new generation
of efficient power stations being built to achieve future federal
and state environmental regulations.
"We are committed to excellence in every aspect of this
important project. We will continue to work with landowners,
government and community leaders, regulators and others to address
concerns and refine the project," Leopold added.
The ACP has strong support from Govs. Earl Ray Tomblin of West Virginia, Terry
McAuliffe of Virginia and
Pat McCrory of North Carolina, and other federal, state and
local officials. A three-state coalition of more than 150 business
and labor organizations, EnergySure (www.energysure.com), recently
announced its support for the project and the economic development
that it is projected to create.
Two well-respected research firms documented the significant
economic benefits of the ACP:
- Consumers and businesses in Virginia and North
Carolina could save an estimated $377
million annually in lower energy costs thanks to the ACP,
according to a study by ICF International (www.dom.com/acp-icf).
That study also found that more than 2,200 full-time, permanent
jobs could be created in the two states because of the lower energy
prices. The new jobs would come from businesses being able to
reinvest their energy savings in growth and from energy-intensive
manufacturing industries once an abundant supply of affordable
natural gas is assured.
- One-time construction activity of the ACP could inject an
annual average of $456.3 million into
the economies of the ACP's three states, supporting 2,873 annual
jobs in the region from 2014 to 2019, according to Chmura Economics
& Analytics (www.dom.com/acp-chmura).
Local governments along the route also are expected to receive a
total of about $25 million a year in
new tax revenues when the full value of the project is ultimately
reflected in tax payments.
Ownership stakes in Atlantic are: Dominion, 45 percent; Duke
Energy, 40 percent; Piedmont, 10
percent; and AGL Resources, 5 percent. Utility subsidiaries and
affiliates of all four companies plus PSNC Energy have signed on as
customers of the pipeline. Ninety-six percent of the pipeline's
capacity is subscribed by these companies.
For example, Dominion and Duke Energy are building multiple
natural gas-fired power stations and closing coal-fired ones to
meet growing demand for electricity with less impact to the
environment. Natural gas has less than half the output of carbon
when compared with coal. The abundant natural gas that would flow
through the ACP would provide each utility with more sources from
which to secure reliable, cost-competitive fuel and keep customers'
rates reasonable.
Virginia Natural Gas, the subsidiary of AGL Resources in
Hampton Roads, has stated that it
needs more natural gas to meet customer demand especially during
peak times in Chesapeake and
Virginia Beach, two of
Virginia's most heavily populated
cities. For Piedmont Natural Gas, the ACP will provide access to
abundant, low-cost natural gas supplies from a geographically
diverse production region and will help the company meet growing
demand for natural gas in its Carolina markets.
Dominion has completed surveying about 85 percent of a proposed
route that meets the operational and reliability needs while
minimizing the impact on the environment as well as historical and
cultural resources. Atlantic will file supplemental information
with the FERC when surveying is completed and propose a final
route.
Dominion Transmission Inc. applied simultaneously to the FERC
for permission to build its Supply Header Project, a $500 million project of approximately 38 miles of
natural gas pipeline and modified existing compression facilities
in West Virginia and Pennsylvania. The project will provide natural
gas supplies to various customers, including the ACP, allowing the
transport of natural gas from supply areas in Ohio, Pennsylvania and West Virginia to underserved market areas in
Virginia and North Carolina.
The application and resource reports are available on the ACP
website, www.dom.com/acpipeline, and the FERC website. Digital
copies will be placed in public libraries along the route.
About Dominion
Dominion is one of the nation's largest
producers and transporters of energy, with a portfolio of
approximately 24,600 megawatts of generation, 12,200 miles of
natural gas transmission, gathering and storage pipeline, and 6,455
miles of electric transmission lines. Dominion operates one
of the nation's largest natural gas storage systems with 928
billion cubic feet of storage capacity and serves utility and
retail energy customers in 13 states. For more information about
Dominion, visit the company's website
at www.dom.com.
About Duke Energy
Duke Energy is the largest electric
power holding company in the United
States. Its regulated utility operations serve approximately
7.3 million electric customers located in six states in the
Southeast and Midwest. Its commercial power and international
energy business segments own and operate diverse power generation
assets in North America and
Latin America, including a growing
portfolio of renewable energy assets in the United States.
Headquartered in Charlotte,
N.C., Duke Energy is a Fortune 250 company traded on the New
York Stock Exchange under the symbol DUK. More information about
the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
About Piedmont Natural Gas
Piedmont Natural Gas is an
energy services company primarily engaged in the distribution of
natural gas to more than one million residential, commercial,
industrial and power generation utility customers in portions of
North Carolina, South Carolina and Tennessee, including customers served by
municipalities who are wholesale customers. Our subsidiaries are
invested in joint venture, energy-related businesses, including
unregulated retail natural gas marketing, and regulated interstate
natural gas transportation and storage, and regulated intrastate
natural gas transportation businesses. More information about
Piedmont Natural Gas is available on the Internet at
http://www.piedmontng.com/.
About AGL Resources
AGL Resources (NYSE: GAS) is an
Atlanta-based energy services
holding company with operations in natural gas distribution, retail
operations, wholesale services and midstream operations. AGL
Resources serves approximately 4.5 million utility customers
through its regulated distribution subsidiaries in seven states.
The company also serves more than one million retail customers
through its SouthStar Energy Services joint venture and Pivotal
Home Solutions, which market natural gas and related home services.
Other non-utility businesses include asset management for natural
gas wholesale customers through Sequent Energy Management and
ownership and operation of natural gas storage facilities. AGL
Resources is a Fortune 500 company and a member of the S&P 500
Index. For more information, visit www.aglresources.com.
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SOURCE Dominion Resources Inc.