Virginia Petroleum Council outlines benefits of proposed pipeline project to FERC
Virginia Petroleum Council Executive Director Miles Morin recently sent a letter to the Federal Energy Regulatory Commission (FERC) outlining the beneficial impact the proposed Mountain Valley Pipeline would have on Virginia’s energy infrastructure.
In the letter to FERC Secretary Kimberly Bose, Morin highlighted the benefits of the natural gas pipeline in an effort to gain approval for the project. The pipeline would meet existing and projected demand in the Southeast and Mid-Atlantic regions, including in Virginia, he said.
Virginia’s natural gas use is increasing, having grown more than 50 percent from 2004 to 2014.
“This growth in use corresponds with lower gas prices, which are saving customers money and spurring economic growth. For example, Virginia Tech’s ongoing transition from coal to gas for heating and power will save the school an estimated $1 million per year. Other commercial users, like public facilities and hospitals are seeing similar benefits. Increased supply will also help lower costs for consumers and manufacturers,” Marin said.
According to IHS Economics, American consumers are benefiting greatly from the nation’s energy renaissance. Households are seeing as much as $1,337 in savings each year as a result of the abundance of affordable natural gas.
“Natural gas is going to be an important part of the nation’s energy portfolio for generations. We need to build infrastructure to get cleaner, cheaper fuel to market in order to help spur the economy and help consumers save money on fuel costs. The proposed Mountain Valley Pipeline would achieve these goals in a responsible manner,” Morin said.
