Meanwhile, other utilities such as DTE Energy Co., Duke Energy Corp. requires 100% of the power sold to Appalachian Power Co.'s customers to be sourced from renewables by 2050 and 100% of the power sold to Dominion electric utility subsidiary Virginia Electric and Power Co.'s customers to be sourced from renewables by 2045," Sperduto wrote Aug. A driving force behind that decision was Virginia's Clean Energy Economy Act enacted in April, according to Dennis Sperduto, principal analyst with Regulatory Research Associates, a group within S&P Global Market Intelligence. Many of these efforts involve replacing older gas delivery pipelines.ĭominion Energy Inc., which is targeting net-zero emissions by 2050, recently agreed to sell its gas transmission and storage business to Berkshire Hathaway Energy for over $9.7 billion. At least 10 plan to reduce emissions of greenhouse gases, primarily methane, from their gas distribution and retail sales operations. publicly traded electric and gas utilities had set goals to achieve either zero or net-zero greenhouse gas emissions by 2050 or earlier or have set a goal of 100% clean electricity. As of mid-July, 13 of the 30 largest U.S. Northeast where state regulators have blocked pipeline projects.ĬonEd is one of several utilities looking to ramp up their renewable energy footprint as cracks appear in the role of natural gas as a bridge fuel between hydrocarbons and cleaner forms of energy. part of the longer-term view," particularly in the U.S. "That view has largely changed, and natural gas, while it can provide emissions reductions, is no longer. "We made those investments five to seven years ago, and at that time we - and frankly many others - viewed natural gas as having a fairly large role in the transition to the clean energy economy," McAvoy said. ConEd "certainly would" also consider monetizing those assets, McAvoy added. LLC joint venture with Crestwood Equity Partners LP and the Equitrans Midstream Corp.-led Mountain Valley Pipeline LLC. The executive made the observation after being asked about the utility's stakes in the Stagecoach Pipeline & Storage Co. 26 investor presentation about environmental, social and governance issues. "I don't expect we'll be making any further investments in those types of gas transmission assets," Chairman, President and CEO John McAvoy said during an Aug. will no longer invest in long-haul natural gas pipelines and may sell its existing portfolio, the company said just days after outlining plans for adopting alternative energy technology.
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