Duke Energy Says Atlantic Coast Pipeline Gets FERC Approval

(RTTNews) - Duke Energy (DUK) announced late Friday the approval by the Federal Energy Regulatory Commission or FERC of a Certificate of Public Convenience and Necessity for the Atlantic Coast Pipeline.

In a statement, Lynn Good, Duke Energy's Chairman, President and Chief Executive Officer, stated that the FERC's approval is an important milestone and a critical step forward for the Atlantic Coast Pipeline to deliver the benefits of affordable, clean natural gas and affirms the project will be built with minimal impacts to the environment.

"Natural gas from the pipeline will increase consumer savings, enhance reliability, enable more renewable energy and provide a powerful engine for statewide economic development and job growth. It also supports our plan to produce cleaner energy through newer, highly-efficient natural gas plants and allows more capacity for Piedmont Natural Gas to serve new homes and businesses," Good said.

According to Good, all three commissioners acknowledge the need for more natural gas, even the lone dissenting commissioner who states that more than 90 percent of the pipeline's capacity is subscribed.

Duke Energy said it will continue to work with the appropriate agencies to secure the remaining permits and look forward to breaking ground later this year.