Number of Rate Cases to Be Resolved in the Next Quarter

Originally published for customers March 24, 2023

What’s the issue?

Some regulatory and litigation events occur without warning, but it is possible to keep a calendar of scheduled events. Each quarter, we update a calendar of midstream events we will be watching in the coming quarter.

Why does it matter?

We are expecting some key decisions for the Mountain Valley Pipeline project, but there are also a number of rate cases that have been settled in principle and for which the final settlements are expected to be filed this quarter.

What’s our view?

In addition to arming you with the timing for these known events, we are also here to help you understand the significance of expected and unexpected events so that you can act on them when they occur.

 


 

Some regulatory and litigation events occur without warning, but it is possible to keep a calendar of scheduled events. Each quarter, we update a calendar of midstream events we will be watching in the coming quarter. We are expecting some key decisions for the Mountain Valley Pipeline project, but there are also a number of rate cases that have been settled in principle and for which the final settlements are expected to be filed this quarter.

In addition to arming you with the timing for these known events, we are also here to help you understand the significance of expected and unexpected events so that you can act on them when they occur.

 

A Quarter for Rate Case Settlements

On January 31, we hosted a webinar along with our friends at East Daley in which we discussed rate cases, risk assessment, and implications for pipelines, shippers, and investors. There is currently pending at FERC seven rate cases for pipelines with annual revenue that totals close to $2 billion. Four of those cases have been settled in principle and the final settlement agreements are expected to be filed in the coming quarter.

 

Pipeline Date Settlement is Expected
Tuscarora Gas Transmission Company April 1
Transwestern Pipeline Company April 14
MountainWest Overthrust Pipeline April 30
Stagecoach Pipeline & Storage Company May 1

 

Calendar

Our calendar includes these dates as well as other key dates for the rate proceedings that have not yet settled.

 

 

If you would like to keep track of the known or likely events in the coming quarter, you can download our quarterly events calendar here.

 

As Always, MVP Has Some Critical Decisions Expected This Quarter

Sadly for the project, Mountain Valley Pipeline continues to have a number of important decisions that are due to be issued this quarter. Probably the two that are most critical and most difficult to anticipate are the decisions by the Fourth Circuit with regard to challenges that were filed to the water quality certificates issued by West Virginia and Virginia. The Fourth Circuit heard oral argument about the West Virginia certificate back in October and that decision is long overdue. The oral argument for the Virginia certificate was held in January. Based on past history, we have slotted both decisions for the middle of April, which is a typical timeframe for court decisions following the oral argument. We are assuming at this point that the court will issue both decisions on the same date. We continue to expect an adverse decision on the West Virginia certificate and a positive decision for the Virginia one. But those are not the only decisions the project needs to move forward. It still must get a permit from the U.S. Army Corps of Engineers with regard to its remaining wetlands and waterbody crossings and a permit to cross the Jefferson National Forest, which requires the U.S. Forest Service to amend its forest plan and for the Bureau of Land Management to then issue the required permit. If all of these were to be approved, a very unlikely result in our minds, Mountain Valley Pipeline maintains it could still be placed into service by the end of this year.

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