Investors Should Abandon High Risk ACP

On May 5, 2020, just before the annual Dominion Energy and Duke Energy shareholders meetings, Friends of the Earth and NC Warn have released a report outlining multiple factors that make the years-delayed Atlantic Coast Pipeline a risky, unnecessary, and backward-looking investment that could leave Dominion and Duke shareholders on the hook for billions of dollars in stranded costs.

An analysis by former energy executive Thomas Hadwin shows that rapidly changing energy markets, new legislation in Virginia, a surplus of gas across the region, and climate impacts of fracked gas are among the reasons Dominion Energy and Duke Energy should stop trying to build the ACP, now billions over budget and with construction stalled since 2018 by legal and regulatory problems.

Hadwin’s analysis shows that the coronavirus pandemic has only amplified the pipeline’s many current problems.

Read the full report, It Is Time to Abandon the Atlantic Coast Pipeline.