Atlantic Coast Pipeline to Save Consumers, Businesses $377M
As identified in North Carolina Vision 2030’s Infrastructure and Growth Leadership pillar, an all of the above energy strategy is critical to developing sufficient energy infrastructure to support North Carolina’s growing population.
Today, I joined Diane Leopold, president of Dominion Energy, and other organizations in a news conference focused on the economic benefits of strengthening our state’s energy infrastructure through the Atlantic Coast Pipeline.
Dominion, Duke Energy, Piedmont Natural Gas of North Carolina, and AGL Resources have proposed the Atlantic Coast Pipeline to serve the growing need for natural gas in Virginia and North Carolina, enhance the reliable delivery of natural gas supplies, and expand consumer access to supplies from the neighboring states where the burgeoning Marcellus and Utica shale plays are located. Released during today’s news conference, a study conducted by ICF International shows that the Atlantic Coast Pipeline would save consumers and businesses in Virginia and North Carolina about $377 million annually in lower energy costs, among other economic benefits.
Additionally, the Atlantic Coast Pipeline project will clearly be one of North Carolina’s top job creators over the next decade. The development of additional natural gas pipeline infrastructure in our state – and particularly in eastern North Carolina – will help us avoid the kind of extreme energy price spikes that our utilities, businesses and consumers experienced during last year’s polar vortex. The lack of infrastructure and pipeline capacity – not lack of supply – created that situation. Quite simply, this project is a game-changer for the economy of Eastern North Carolina.
The project also has broad support from an array of North Carolina elected officials and economic development leaders across our state. We look forward to continuing to work with our state leaders and businesses so we can ensure the project stays on schedule to start construction in 2016.
Gary J. Salamido
Vice President, Government Affairs
North Carolina Chamber