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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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MVP Partner NextEra Energy Goes Wobbly, Doubts Pipe Will Finish

In the “with friends like these” department…One of the main partners with Equitrans Midstream in the project to build the 303-mile Mountain Valley Pipeline (MVP) project is NextEra Energy (31% ownership). MVP took it on the chin three weeks ago when the Democrat judges on the U.S. Court of Appeals for the Fourth Circuit overturned a key permit and a key FERC decision to allow MVP to finish up. The pipeline is 94% complete and in the ground. Yet now, because of those court rulings, NextEra Energy says the pipeline has a “very low probability” of completion.
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NextEra Energy Writes Down $1.2B for Mountain Valley Pipeline

The world’s largest producer of wind and solar energy, NextEra Energy, also happens to be a major investor in the 303-mile Mountain Valley Pipeline (MVP) project. On Tuesday NextEra announced it recorded a loss in fourth-quarter 2020, mainly because of a $1.2 billion write down on its investment in MVP. But have no fear, “write down” does not mean “write off.”
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NextEra Energy Buys 39% Stake in Atlantic Sunrise Pipe for $1.37B

Penn Central Line in red (click for larger version)

Some big news to share. NextEra Energy Partners, a subsidiary of NextEra Energy which owns and operates solar and wind projects, as well as natural gas pipelines, announced early this morning they have cut a deal to buy Meade Pipeline Co LLC for $1.37 billion. Meade Pipeline is the name for a joint venture between several companies that own 39.2% of what is called the Central Penn Line pipeline system, otherwise known as Williams’ Atlantic Sunrise Pipeline–a major new pipeline that has single-handedly lifted the price drillers (and consequently landowners) receive for northeastern PA Marcellus gas.
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