RICHMOND, VA — Atlantic Coast Pipeline has formally applied to the Federal Energy Regulatory Commission for permission to build a 564-mile interstate natural gas transmission pipeline Duke Energy and Piedmont Natural Gas are among the four companies that will build and own the pipeline research says would save energy costs and create jobs.
Dominion adn AGL Resources are the other two energy companies participating.
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.
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 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.
The application and resource reports are available on the ACP website, www.dom.com/acpipeline, and the FERC website.
