STOCK TITAN

Federal Energy Regulatory Commission issues certificate affirming necessity of Spire STL Pipeline

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

The Federal Energy Regulatory Commission (FERC) has reissued a permanent Certificate of Public Convenience and Necessity for the Spire STL Pipeline, affirming its critical role in delivering natural gas to over 650,000 homes and businesses in eastern Missouri. This decision follows an 18-month review and highlights the pipeline's strong operational performance, which has contributed to lower gas costs in the St. Louis area. This permanent certificate ensures continued access to reliable and affordable energy for consumers.

Positive
  • FERC's permanent certificate confirms the necessity of Spire STL Pipeline, ensuring its operations.
  • The pipeline has delivered strong performance and reliability, reducing costs for over 650,000 customers.
  • St. Louis currently has the lowest gas costs in Missouri, aided by the Spire STL Pipeline.
Negative
  • None.

FERC determines Spire STL Pipeline is needed on a permanent basis

ST. LOUIS, Dec. 15, 2022 /PRNewswire/ -- Today, the Federal Energy Regulatory Commission (FERC) reissued a permanent Certificate of Public Convenience and Necessity for the Spire STL Pipeline, ensuring continued operation of the natural gas pipeline which delivers a critical source of energy for more than 650,000 homes and businesses in eastern Missouri.

"We are pleased the FERC reached this decision after conducting a thorough review over the last 18 months following the DC Circuit court remand. This is in addition to the Commission's original review and approval of the Pipeline's certificate in 2018 plus three years of strong operational performance," said Scott Smith, president of the Spire STL Pipeline. "There was substantial evidence in the record to confirm that the Pipeline has delivered strong performance, reduced costs and improved natural gas reliability across the St. Louis region – even during severe weather challenges like Winter Storm Uri in 2021."

The permanent Certificate was approved by the FERC at today's agency meeting. This marks the fourth time the FERC has issued an operational certificate for the Spire STL Pipeline, in each instance determining the Pipeline is necessary.

"Customers in the St. Louis area currently have the lowest gas costs across Missouri, with the Spire STL Pipeline playing a huge role in keeping costs more affordable," said Scott Carter, Spire Missouri president. "This certificate provides long-term assurance that Missourians will continue having access to the reliable, affordable energy they need."

The Pipeline had been operating under a temporary certificate issued by the FERC on Dec. 3, 2021. That certificate allowed the agency to review the project on remand as ordered by the U.S. Court of Appeals for the District of Columbia Circuit (DC Circuit). 

In November 2021, Spire STL Pipeline presented expert reports demonstrating the importance of the Pipeline for reliability and cost-saving purposes. These reports also illustrated that the continued operation of this Pipeline would not result in significant adverse environmental or environmental justice impacts. In October, FERC staff issued its final Environmental Impact Statement, agreeing that environmental or environmental justice impacts from the continued operation of the Pipeline would be "less than significant."

Additionally, in May, the Missouri Public Service Commission staff report concluded that Spire Missouri's decision to enter a contract with Spire STL Pipeline was prudent.

The new permanent certificate – issued under Section 7(c) of the Natural Gas Act – is effective after Spire STL Pipeline accepts the Certificate order which will be filed with FERC in the coming days.

"We had always believed, once FERC was able to conduct a comprehensive review of the record evidence, that FERC would find a critical need to keep this important infrastructure in service," said Smith, "We cooperated with the FERC and other stakeholders to ensure they had the information needed to inform their analysis. We are grateful they have concluded that a critical need for the Spire STL Pipeline exists, and importantly, we remain committed to fulfilling all our land restoration obligations. We will continue to work in good faith by being proactive and transparent in resolving outstanding restoration concerns."

For more information about the Spire STL Pipeline, visit spireenergy.com/spire-stl-pipeline.

About Spire

At Spire Inc. (NYSE: SR), we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we serve 1.7 million homes and businesses making us the fifth largest publicly traded natural gas company in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi and Missouri. Our natural gas-related businesses include Spire Marketing, Spire STL Pipeline and Spire Storage. We are committed to transforming our business through growing organically, investing in infrastructure, and advancing through innovation. Learn more at SpireEnergy.com.

Media Contact:
Jason Merrill
314-365-7125
Jason.Merrill@SpireEnergy.com

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/federal-energy-regulatory-commission-issues-certificate-affirming-necessity-of-spire-stl-pipeline-301704671.html

SOURCE Spire Inc.

FAQ

What did the FERC announce regarding Spire STL Pipeline on December 15, 2022?

On December 15, 2022, the FERC reissued a permanent Certificate of Public Convenience and Necessity for the Spire STL Pipeline.

How does the Spire STL Pipeline impact gas costs in Missouri?

The Spire STL Pipeline has contributed to the lowest gas costs in Missouri, particularly benefiting St. Louis consumers.

How many homes and businesses does the Spire STL Pipeline serve?

The Spire STL Pipeline delivers natural gas to over 650,000 homes and businesses in eastern Missouri.

What was the timeline of the FERC's review of the Spire STL Pipeline?

The FERC's review lasted 18 months, following a remand from the DC Circuit Court, and included prior approvals dating back to 2018.

What does the permanent certificate for Spire STL Pipeline mean for consumers?

The permanent certificate provides long-term assurance of reliable and affordable energy access for consumers in Missouri.

Spire Inc.

NYSE:SR

SR Rankings

SR Latest News

SR Stock Data

3.86B
56.16M
2.7%
89.45%
2.79%
Utilities - Regulated Gas
Natural Gas Distribution
Link
United States of America
ST LOUIS