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Dominion Sells Gas Business and Cancels Atlantic Coast Pipeline

"U.S. utility group Dominion Energy agreed Sunday to sell most of its natural-gas business and abandon its multibillion-dollar Atlantic Coast Pipeline project with Duke Energy that would have supplied its home-state market of Virginia. " While on the surface this seems like just another utility deciding to shift green, this is a major energy player in the US and the decision to mothball the Atlantic Coast Pipeline is a large strategic change.

 

Maria Kiefer's picture

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Matt Chester's picture
Matt Chester on Jul 7, 2020 4:35 pm GMT

Given the rapid moving news cycle, it's really crazy how much this appears to be flying under the radar in popular media. This is a huge deal. Maria-- do you see any further dominoes falling down the line as a result of this that people aren't yet talking about?

Maria Kiefer's picture
Maria Kiefer on Jul 8, 2020 11:02 am GMT

I'm certainly no trendsetter, but I'm quite interested to see what happens with the Arizona Public Service as well.  They've essentially taken a 180 on their policy which could result in some significant changes in the southwest over the coming years.

Matt Chester's picture
Matt Chester on Jul 8, 2020 4:36 pm GMT

Great point on APS-- they're also being joined (even more aggressively) by their neighbor TEP: https://energycentral.com/news/tucson-electric-power-plans-end-use-coal-generated-electricity-2032

Howard Smith's picture
Howard Smith on Jul 7, 2020 7:28 pm GMT

Given the recent changes in Virginia's law regarding electricity requirements and 100% renewable goals, I believe Dominion is making a "sea change" in regards to their corporate strategies and future plans.  While I full support the concept and intent of the Virginia effort, I am concerned about the unintended consequences that will arise from "political idealism" without understanding the fundamentals of how the laws of physics really work nor how consumers in planning and developing the electric system of the future.  The problem of the "duck curve" was created by this same type of unintended consequences of regulatory policy without balancing the reality of the grid dynamics, so much so, that California at times pays its neighbors to take electricity.

Maria Kiefer's picture
Maria Kiefer on Jul 8, 2020 11:06 am GMT

It's very true that it seems like recently we've had some policy changes / declarations before fully planning the solutions.  That being said, isn't it those goals the prompt the initiatives that actually solve for the problem?  I certainly agree that it is important not to be short-sighted, however I hope it will create the motivation to create alternative solutions.

I am cautiously optimistic to see what infrastructure spending comes out of this, or the next, administration which could alleviate a lot of the potential issues if they're invested in over the next 5-7 years.

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