Dominion Energy

Despite last month’s overwhelming 7-2 victory at the United States Supreme Court, which vindicated the project and decisions made by permitting agencies, recent developments have created an unacceptable layer of uncertainty and anticipated delays for ACP.

Specifically, the decision of the United States District Court for the District of Montana overturning long-standing federal permit authority for waterbody and wetland crossings (Nationwide Permit 12), followed by a Ninth Circuit ruling on May 28 indicating an appeal is not likely to be successful, are new and serious challenges. The potential for a Supreme Court stay of the district court’s injunction would not ultimately change the judicial venue for appeal nor decrease the uncertainty associated with an eventual ruling. The Montana district court decision is also likely to prompt similar challenges in other Circuits related to permits issued under the nationwide program including for ACP.”

U.S. Marshals Enforce Eminent Domain for Constitution Pipeline DC Media Group by John Zangas|Published March 4, 2016 “The Hollerans have owned the 23-acre tract since 1950, when Megan Holleran’s grandfather bought it to start the Harford Maple Syrup business. Losing the hundreds of sugar bush maple trees will effectively end 90% of their business.

Cabot Oil & Gas Company and Williams Partners applied for permission to build the 124-mile project in 2013. The Federal Energy Regulatory Commission (FERC) granted the first approvals to cut trees in Susquehanna County in January of this year. However, no permits have been issued to begin cutting in New York. The 30″ pipeline is planned to run from Susquehanna County, PA to Scholaire County, NY, 24 miles of which runs through Pennsylvania.”

Warren Buffett’s Berkshire Hathaway adds to energy portfolio, buys Dominion Energy gas lines in $9.7B deal USA Today Dalvin Brown July 5, 2020 “In addition to owning 100% of Dominion Energy Transmission, Berkshire Hathaway will also take a 25% stake in Cove Point, a natural gas facility in Maryland. Berkshire Hathaway will also own 50% of Iroquois, a natural gas system that serves the Northeast. The $9.7 billion deal does not include acquisition of the proposed 600-mile Atlantic Coast Pipeline, a joint venture between Dominion and Duke Energy that would’ve stretched from West Virginia through Virginia and North Carolina. “

Dominion close to settling case with securities regulators over SC nuclear project The Post and Courier By Andrew Brown  May 8, 2020 “Dominion Energy, which bought SCANA Corp. and South Carolina Electric & Gas in 2019, could soon reach a $25 million settlement with stock market regulators over the failed V.C. Summer nuclear project that the acquired businesses abandoned nearly three years ago.The proposed deal would allow Dominion to remove itself from a high-profile civil case that the U.S. Securities and Exchange Commission filed in February. That lawsuit alleges that SCANA, the majority owner of the two partially built reactors in Fairfield County, “repeatedly deceived” investors and furthered a “historic” case of securities fraud.”

SCANA brass face fraud trial Lexington County Chronicle and Dispatch News by Jerry Bellune April 4, 2019 “3 retired SCANA executives will be tried for hiding a $9 billion nuclear fiasco. Federal Judge Margaret Seymour ruled enough evidence exists to show a jury the executives deliberately concealed from investors the failing status of their nucle- ar power plant, The State newspaper reported. The 3 are former CEO Kevin Marsh, chief financial officer Jimmy Addison and chief operating officer Stephen Byrne. All 3 retired with multi-million dollar retirement packages. Seymour’s ruling will allow a civil fraud lawsuit by former SCANA shareholders seeking to recover $2.7 billion in stock losses. Their shares plummeted from $72 a share to $43. The shareholders’ evidence shows the 3 “acted at least recklessly and possibly deliberately” to cover the failures, Seymour wrote in a 26-page order.”