- 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
RICHMOND, Va., Oct. 7, 2024
/PRNewswire/ -- Dominion Energy Virginia, American Electric Power
and FirstEnergy Corp. have entered into an innovative joint
planning agreement to propose several new regional electric
transmission projects across multiple states within the PJM
footprint.
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 U.S.," said Bob
Bradish, senior vice president, Regulated Infrastructure
Investment Planning for AEP. "The solutions we have proposed to
address the rapidly evolving energy demand we are seeing across the
region will enable us to continue providing reliable service and
drive economic growth."
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 Virginia. The proposed projects include
several new 765-kV, 500-kV and 345-kV transmission lines in
Virginia, Ohio and West
Virginia.
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 Richmond, Va., provides regulated electricity
service to 3.6 million homes and businesses in Virginia, North
Carolina, and South
Carolina, and regulated natural gas service to 400,000
customers in South Carolina. The
company is one of the nation's leading developers and
operators of regulated offshore wind and solar power and
the largest producer of carbon-free electricity in New England. The company's mission is to
provide the reliable, affordable, and increasingly clean
energy that powers its customers every day. Please
visit DominionEnergy.com to learn more.
About AEP
AEP, headquartered in Columbus,
OH, owns and operates more than 40,000 miles of transmission
lines, the nation's largest electric transmission system, and more
than 225,000 miles of distribution lines to deliver power to 5.6
million customers in 11 states. AEP also is one of the nation's
largest electricity producers with approximately 29,000 megawatts
of diverse generating capacity. AEP is investing $43 billion over the next five years to make the
electric grid cleaner and more reliable. AEP participates in the
competitive transmission space through Transource, a jointly owned
transmission company with Evergy, headquartered in Kansas City, Missouri.
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 Ohio, Pennsylvania, New
Jersey, West Virginia,
Maryland and New York. The company's transmission
subsidiaries operate approximately 24,000 miles of transmission
lines that connect the Midwest and Mid-Atlantic regions. Follow
FirstEnergy online at firstenergycorp.com and on X
@FirstEnergyCorp.
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 U.S. Securities and Exchange Commission. Dominion
Energy refers readers to those discusses for further information.
Any forward-looking statement speaks only as of the date on which
it is made, and Dominion Energy undertakes no obligation to update
any forward-looking statement to reflect events or circumstances
occurring after the date on which it is made.
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SOURCE Dominion Energy