Atlantic Coast Pipeline project canceled
(WDBJ) - Dominion and Duke Energy have announced the cancellation of the Atlantic Coast Pipeline project that was set to flow natural gas through West Virginia, Virginia, North Carolina and under the Appalachian Trail.
According to Dominion Energy, the decision was made following “ongoing delays and increasing cost uncertainty which threaten the economic viability of the project.” The companies point to legal challenges associated with federal and state permits that have caused major project cost increases and delays.
After originally being announced in 2014 as an effort to address the lack of energy supply and delivery diversification for different parties throughout the region, the Associated Press reported the project would be delayed until 2021 and receive a cost hike of $3 billion in February of 2019.
According to Dominion, the Atlantic Coast Pipeline was estimated to create thousands of construction jobs and tax revenue in the millions for local communities.
“Dominion Energy and Duke Energy will separately provide additional information for their respective stakeholders and shareholders as relates to the company-specific financial, environmental, operational and other impacts of this announcement.”
Copyright 2020 WDBJ. All rights reserved.