NextEra Energy Selling Its Stake in NE Pa. Marcellus Pipeline

Yesterday, the management of NextEra Energy announced it has officially lost its collective mind. The company is selling its two natural gas pipeline investments--one in Texas and the other right here in the heart of the Marcellus Shale--because it wants to concentrate 100% on unreliable (and government-funded) "renewable" energy projects instead. You may recall that NextEra bought Meade Pipeline Co LLC for $1.37 billion in 2019 (see NextEra Energy Buys 39% Stake in Atlantic Sunrise Pipe for $1.37B). Meade is another name for a small consortium that invested in the Atlantic Sunrise pipeline project, which is majority owned and operated by Williams and a feeder pipeline of Marcellus molecules to the mighty Transco Pipeline system.

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