India, July 5 -- Dominion Energy (D) and Duke Energy (DUK) said that they have cancelled proposed $8 billion Atlantic Coast Pipeline project, citing ongoing delays and increasing cost uncertainty, even after a favorable Supreme Court ruling last month.
The pipeline aimed to carry natural gas 600 miles through West Virginia, Virginia and North Carolina and underneath the Appalachian Trail. The Atlantic Coast Pipeline project was initially announced in 2014.
Dominion Energy said that a series of legal challenges to the project's federal and state permits has caused significant project cost increases and timing delays. The recent public guidance of project cost has increased to $8 billion from the original estimate of $4.5 billion to $5.0 bi...