Corporate News Blog – The FERC Releases Favorable Final Environmental Impact Statement for the Atlantic Coast Pipeline

LONDON, UK / ACCESSWIRE / July 25, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Dominion Energy, Inc. (NYSE: D) (“Dominion”), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=D. The Company announced on July 21, 2017, that The Federal Energy Regulatory Commission (FERC) had issued a favorable report in its Final Environmental Impact Statement (EIS) for the Atlantic Coast Pipeline (ACP). The proposed Atlantic Coast Pipeline (ACP) is expected to deliver up to 1.5 billion cubic feet per day of natural gas to customers in Virginia and North Carolina. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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The favorable report paves way for Dominion to get final approval for the pipeline project. The Company welcomed the Commission’s report and stated that the Atlantic Coast Pipeline is urgently needed for the “economic vitality, environmental health, and energy security” in the region.

Commenting on FERC’s favorable EIS, Leslie Hartz, Vice President, Engineering & Construction of Dominion said:

“The favorable environmental report released today provides a clear path for final approval of the Atlantic Coast Pipeline this fall. The report concludes that the project can be built safely and with minimal long-term impacts to the environment. This report is the culmination of one of the most thorough and exhaustive environmental reviews that has ever been performed for a project of this scope.”

FERC’s report

FERC’s EIS complies with the National Environmental Policy Act (NEPA). The Commission has taken inputs from various federal agencies before presenting its conclusions and recommendations. FERC’s report states that although the project would have some negative impacts, Dominion and its partners can minimize the impact on the natural and human environments if they follow their own environmental guidelines and the FERC’s recommendations on the ACP. The EIS would only be used for reference and each federal agency would be independently presenting their own conclusions and recommendations in their respective permit authorizations with regards to the ACP.

FERC’s main concerns are in regards to the construction of the pipeline on steep terrain. This would increase the risk of potential landslides in the area. It has recommended that Dominion and its partners implement a steep slope management program and slip avoidance, identification, prevention, and remediation plan. This would help in minimizing soil erosion and potential risk of landslides in steep slope areas.

The report would act as a guide when the US Department of Agriculture – Forest Service (FS) would grant a Special Use Permit and make necessary amendments in the Land and Resource Management Plans so that ACP can cross the sensitive parts of Monongahela National Forest and George Washington National Forest. FERC’s other concern is with regards to water-bodies and associated aquatic resources.

FERC has suggested the use of horizontal directional drill crossing method and dry crossing methods for water-bodies. However, Dominion and its partners will still need to get necessary clearances and permits from the US Army Corps of Engineers (USACE) and state regulatory agencies.

FERC has also highlighted the risk of harming endangered species whose habitats range from forests, water-bodies to land, caves, and subterranean areas. FERC has recommended that Dominion and its partners ensure that the ACP has minimum impact on the habitats of these endangered species.

The implementation of these guidelines would further reduce the environmental impacts that would otherwise result from construction and operation of their project. FERC has also stated that its authorizations and other approvals are based on compliance with its recommendations and it will continue to undertake environmental inspection and monitoring programs.

About the Atlantic Coast Pipeline

The proposed ACP is an interstate natural gas transmission pipeline that would help multiple public utilities in Virginia and North Carolina to meet their energy needs that exceed system’s capacity. The underground pipeline will transport domestically-produced, clean-burning natural gas from West Virginia to communities in Virginia and North Carolina. The 600-mile underground pipeline will originate in Harrison County, West Virginia, travel to Greensville County, VA, with a lateral extending to Chesapeake, VA, and then continue south into eastern North Carolina, and end in Robeson County. Two additional, shorter laterals will connect to two Dominion Energy electric generating facilities in Brunswick and Greensville Counties. The project also envisions the construction of three compressor stations at three locations. The ACP is expected to receive final FERC’s approval this fall, with plans to enter into service in 2019.

ACP is expected to result in annual energy cost savings of more than $377 million. The project is expected to create 17,240 new jobs in the construction industry and 2,200 new jobs in manufacturing and other industries.

Four major energy Companies – Dominion Energy, Duke Energy Corp. (NYSE: DUKE), Piedmont Natural Gas, and Southern Company Gas will jointly develop the project. Dominion has a majority stake in the project and will be responsible for the construction and operation of the pipeline.

The project is being opposed by environmental groups and landowners in some areas as the route earmarked for ACP passes through stretches of sensitive, mountainous, and largely undeveloped terrain.

Last Close Stock Review

At the closing bell, on Monday, July 24, 2017, Dominion Energy’s stock slipped 1.03%, ending the trading session at $76.77. A total volume of 1.82 million shares has exchanged hands. The Company’s stock price advanced 1.57% in the past six months. Moreover, the stock gained 0.24% since the start of the year. The stock is trading at a PE ratio of 21.50 and has a dividend yield of 3.93%. The stock currently has a market cap of $48.22 billion.

On Monday, July 24, 2017, the stock closed the trading session at $84.55, falling slightly by 0.76% from its previous closing price of $85.20. A total volume of 2.53 million shares has exchanged hands, which was higher than the 3-month average volume of 2.50 million shares. Duke Energy’s stock price surged 2.39% in the last three months and 9.76% in the past six months. Furthermore, since the start of the year, shares of the Company have gained 8.93%. The stock is trading at a PE ratio of 22.70 and has a dividend yield of 4.21%. At Monday’s closing price, the stock’s net capitalization stands at $59.19 billion.

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