Dominion Energy, American Electric Power, FirstEnergy reach joint planning agreement to propose regional transmission projects across PJM footprint
Dominion Energy Virginia, American Electric Power, and FirstEnergy Corp. have entered a joint planning agreement to propose new regional electric transmission projects across the PJM footprint. This collaboration aims to address the growing power demand in the region due to expanding energy-intensive industries, electrification, and manufacturing onshoring. The companies jointly proposed projects through PJM's Regional Transmission Expansion Plan Open Window process in September, including new 765-kV, 500-kV, and 345-kV transmission lines in Virginia, Ohio, and West Virginia.
The partnership leverages the expertise of these industry leaders to develop comprehensive, cost-effective solutions that promote regional grid reliability. If selected by PJM, the projects would undergo an extensive process of route selection, environmental studies, community engagement, and permitting before construction.
Dominion Energy Virginia, American Electric Power e FirstEnergy Corp. hanno stipulato un accordo di pianificazione congiunta per proporre nuovi progetti di trasmissione elettrica regionali nell'area del PJM. Questa collaborazione mira a rispondere alla crescente domanda di energia nella regione dovuta all'espansione delle industrie ad alta intensità energetica, all'elettrificazione e al rilocalizzazione della produzione. Le aziende hanno proposto congiuntamente i progetti tramite il processo dell'Open Window del Piano di Espansione della Trasmissione Regionale del PJM a settembre, inclusi nuovi linee di trasmissione da 765-kV, 500-kV e 345-kV in Virginia, Ohio e Virginia Occidentale.
La partnership sfrutta l'expertise di questi leader del settore per sviluppare soluzioni complete e convenienti che promuovono l'affidabilità della rete regionale. Se selezionati dal PJM, i progetti subiranno un processo approfondito di selezione dei percorsi, studi ambientali, coinvolgimento della comunità e autorizzazioni prima della costruzione.
Dominion Energy Virginia, American Electric Power y FirstEnergy Corp. han firmado un acuerdo de planificación conjunta para proponer nuevos proyectos regionales de transmisión eléctrica en el ámbito del PJM. Esta colaboración tiene como objetivo abordar la creciente demanda de energía en la región debido a la expansión de industrias intensivas en energía, la electrificación y la reubicación de la manufactura. Las empresas propusieron conjuntamente proyectos a través del proceso de Ventana Abierta del Plan de Expansión de Transmisión Regional del PJM en septiembre, incluidos nuevos líneas de transmisión de 765-kV, 500-kV y 345-kV en Virginia, Ohio y Virginia Occidental.
La asociación aprovecha la experiencia de estos líderes de la industria para desarrollar soluciones integrales y rentables que promuevan la fiabilidad de la red regional. Si son seleccionados por el PJM, los proyectos pasarán por un proceso exhaustivo de selección de rutas, estudios ambientales, compromiso comunitario y permisos antes de la construcción.
도미니언 에너지 버지니아, 아메리칸 일렉트릭 파워, 그리고 퍼스트 에너지 코퍼레이션은 PJM 범위 내에서 새로운 지역 전력 전송 프로젝트를 제안하기 위한 공동 계획 협약을 체결했습니다. 이 협력은 에너지 집약적인 산업의 확장, 전기화 및 제조업의 국내 유치로 인한 증가하는 전력 수요를 해결하는 것을 목표로 하고 있습니다. 이들은 9월 PJM의 지역 전송 확장 계획 오픈 윈도우 프로세스를 통해 새로운 765-kV, 500-kV 및 345-kV 전송선을 버지니아, 오하이오, 웨스트 버지니아에서 제안하였습니다.
이번 파트너십은 이들 산업 리더의 전문성을 활용하여 지역 전력망의 신뢰성을 촉진하는 종합적이고 비용 효과적인 솔루션을 개발하는 것을 목표로 합니다. PJM에 의해 선정된다면, 프로젝트는 건설 전 경로 선택, 환경 연구, 커뮤니티 참여 및 허가 등의 광범위한 절차를 거치게 될 것입니다.
Dominion Energy Virginia, American Electric Power et FirstEnergy Corp. ont signé un accord de planification conjointe pour proposer de nouveaux projets régionaux de transmission électrique dans la zone PJM. Cette collaboration vise à répondre à la croissante demande d'énergie dans la région en raison de l'expansion des industries intensives en énergie, de l'électrification et du relocalisation de la fabrication. Les entreprises ont conjointement proposé des projets via le processus Open Window du Plan d'Expanssion de la Transmission Régionale de PJM en septembre, y compris de nouvelles lignes de transmission de 765-kV, 500-kV et 345-kV en Virginie, Ohio et Virginie-Occidentale.
Le partenariat s'appuie sur l'expertise de ces leaders de l'industrie pour développer des solutions globales et rentables qui favorisent la fiabilité du réseau régional. Si sélectionnés par le PJM, les projets passeront par un processus approfondi de sélection des itinéraires, d'études environnementales, d'engagement communautaire et d'autorisations avant la construction.
Dominion Energy Virginia, American Electric Power und FirstEnergy Corp. haben eine gemeinsame Planungsvereinbarung getroffen, um neue regionale elektrische Übertragungsprojekte im PJM-Gebiet vorzuschlagen. Diese Zusammenarbeit zielt darauf ab, der wachstenden Stromnachfrage in der Region aufgrund der Expansion energieintensiver Industrien, der Elektrifizierung und der Rückverlagerung der Fertigung gerecht zu werden. Die Unternehmen haben im September über den Open Window-Prozess des Regional Transmission Expansion Plan von PJM Projekte vorgeschlagen, einschließlich neuer 765-kV-, 500-kV- und 345-kV-Übertragungsleitungen in Virginia, Ohio und West Virginia.
Die Partnerschaft nutzt die Expertise dieser Branchenführer, um umfassende, kosteneffektive Lösungen zu entwickeln, die die Zuverlässigkeit des regionalen Stromnetzes fördern. Wenn die Projekte von PJM ausgewählt werden, unterliegen sie einem umfangreichen Verfahren zur Routenwahl, Umweltstudien, Community-Engagement und Genehmigungen vor dem Bau.
- Collaboration between three major energy companies to address growing power demand
- Proposed new high-voltage transmission lines across multiple states
- Potential to improve regional grid reliability and support economic growth
- Alignment with FERC's encouragement of efficient regional transmission development
- Projects are in early stages and subject to PJM approval
- Extensive multi-year process required before construction can begin
- Potential environmental and community impacts from new transmission lines
Insights
This joint planning agreement between Dominion Energy, American Electric Power and FirstEnergy is a significant development in the electric transmission sector. The collaboration aims to address the rapidly growing power demand across the PJM region, driven by data centers, electrification and manufacturing onshoring. This proactive approach to regional transmission development aligns with FERC's encouragement for efficient and cost-effective solutions.
The proposed projects, including new 765-kV, 500-kV and 345-kV transmission lines across Virginia, Ohio and West Virginia, represent a substantial infrastructure investment. While still in early stages, if approved by PJM, these projects could significantly enhance grid reliability and support economic growth in the region.
For investors, this collaboration signals potential long-term growth opportunities in the transmission sector. However, it's important to note that the extensive development process, including route selection, environmental studies and permitting, means any financial impact will be realized over an extended period. The joint approach may also lead to more competitive and cost-effective solutions, potentially benefiting ratepayers and improving regulatory outcomes.
This joint venture represents a strategic move by three major utility companies to capitalize on the changing energy landscape. The collaboration allows them to pool resources and expertise, potentially leading to more efficient project development and cost management. This could translate to improved returns on investment and a stronger competitive position in the PJM market.
For Dominion Energy (
Investors should watch for potential impacts on capital expenditure plans and how these projects might affect the companies' rate bases. While the initial investment may be substantial, successful implementation could lead to steady, regulated returns over time. Additionally, the focus on addressing growing power demand from data centers and electrification aligns with broader economic trends, potentially positioning these utilities for sustained growth.
- Companies jointly propose electric transmission projects to serve region's growing power demand through PJM's competitive planning process
- Collaboration leverages expertise of industry leaders to propose comprehensive, cost-effective solutions that promote regional grid reliability
The innovative collaboration comes at a time when efficient and cost-effective regional transmission development is essential and encouraged by the Federal Energy Regulatory Commission (FERC), the independent federal agency that regulates the interstate transmission of electricity.
Power demand in the PJM region is growing at an unprecedented pace due to rapid expansion of energy-intensive industries such as data centers, the electrification of transportation and heating, and increased manufacturing onshoring. At the same time, the region's power generation mix is changing as legacy generation is retired and more renewables are added to the grid.
"This dynamic environment requires more regional collaboration to develop large-scale 'backbone' transmission infrastructure that spans across the areas served by our three companies," said Ed Baine, President of Dominion Energy Virginia. "By leveraging the expertise and resources of three industry leaders whose transmission zones border one another, we're better able to develop superior and more cost-effective solutions required to effectively resolve reliability issues across the PJM region. These projects are more comprehensive and will be more effective than what each of our companies would be able to develop individually."
"Energy-intensive industries, electrification and the energy transition all rely on a robust power grid," said Mark Mroczynski, President, FirstEnergy Transmission. "By drawing upon the combined experience of three leading transmission developers, we can take the proactive steps needed to build new infrastructure that will ensure our communities have the power they need for sustained health and economic growth in the future."
"AEP operates the largest transmission network in the nation and has more experience building 765 kV infrastructure than any other company in the
The companies jointly proposed the projects through PJM's Regional Transmission Expansion Plan (RTEP) Open Window process in September. PJM is the regional transmission organization that coordinates the transportation of wholesale electricity across the 13-state region that includes
The projects remain in the early stages of development. If selected by PJM, the companies would then undertake an extensive, multi-year process to select routes, perform environmental studies, engage with communities, obtain state and local permitting and build the projects.
In addition to the joint proposals, each of the three companies have also submitted individual proposals for other transmission projects consistent with how each company has participated in past PJM open windows.
About Dominion Energy
Dominion Energy (NYSE: D), headquartered in
About AEP
AEP, headquartered in
About FirstEnergy
FirstEnergy Corp. (NYSE: FE), is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than six million customers in
Forward-Looking Statements
This release contains certain forward-looking statements that are subject to a variety of factors that could cause actual events or results to differ from those included in these statements. These factors are identified in Dominion Energy's Forms 10-K and 10-Q filed with the
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SOURCE Dominion Energy
FAQ
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