
Residents turn out for open house on proposed 105-mile power line from Pennsylvania to Virginia
dbeard@dominionpost.com
MORGANTOWN – Several hundred people turned out at the Erickson Alumni Center Monday afternoon for an open house to learn about the proposed NextEra Energy Transmission MidAtlantic Resiliency Link project.
They talked with NextEra employees and viewed the rows of posters displaying the possible routes and how the project will progress.
The Link is a proposed transmission project to build a new 105-mile 500-kilovolt transmission line potentially in the following counties stretching from Greene County, Pa., to Frederick County, Va. Depending on the route selected, it could pass through Monongalia and Preston counties, along with Hampshire County and Mineral counties, Allegany Garrett counties in Maryland and Fayette County in Pennsylvania.
The project also consists of building a new 500/138-kV substation in Frederick County, Va.
PJM Interconnection, the regional 13-state power grid operator, selected it among a number of projects, stemming from its long-range Regional Transmission Expansion Plan, to address reliability issues associated with loss of power generation sources, support for new power sources and additional electricity demand in the region.
Landowners came with such questions as if the line would cross the land, how they and the areas would benefit, and if they would be fairly compensated for right-of-way easements.
Kaitlin McCormick, senior director of development at NextEra explained the project and answered some questions about it.
PJM, she said, is forecasting a loss of about 11 gigawatts of generating capacity along with an increase of 7 GW of power demand in the coming years. 'This project is one of the projects that was awarded to help make sure that we have safe, reliable power throughout the region.'
New transmission lines, she said, provide the opportunity to move electricity from where it is available to help offset where some of the retirements are happening.
She didn't have an estimated cost for the project but said ratepayers are charged a transmission fee, approved by their state regulators (the Public Service Commission for West Virginia), on their monthly bills.
On the costs, PJM said, 'Regional transmission solutions benefit all customers in the PJM footprint.' Costs will be allocated through a cost allocation methodology approved by the Federal Energy Regulatory Commission.
NextEra, McCormick said, worked with a consultant to support a routing study for the project, including environmental and natural resource constraints, and working the state and federal agencies to get their input. 'We've been looking at where there are population centers and where there are existing transmission lines or other infrastructure. One of the core tenets of our process is that to the extent that we can, we would like to parallel where there's existing transmission.'
For most of the route, she said, they will need a 200-foot right of way. They've held a series of open houses – Monday's was fifth and three more are planned, including one at the Bruceton Brandonville VFD in Preston County on Wednesday – to get input from landowners about possible routes and answer their questions.
'We have not selected a route yet for this project,' she said, 'Our goal is to work with landowners, and to engage them to understand whether or not they have interest, maybe whether their neighbors might have interest, and the goal is to come and to work with the community.'
A look at the map shows what one NextEra employee called a 'spaghetti' of possibilities. Some reach down into Mon and Preston counties, some stay in Greene and Fayette counties before dipping into Maryland.
Following the open houses and selecting a route, she said, NextEra is looking to file applications with the PSC and other state's regulators early this fall. A project timeline shows expected state regulatory approvals in spring 2027, start of construction in fall 2029, completion by fall 2031 and lines in service by winter 2031.
'We really appreciate the feedback and the engagement from the public,' McCormick said. 'Our goal is to have the MidAtlantic Resiliency Link help to provide safe, reliable electric electricity in the region and to support all these local communities in the areas, so we appreciate the feedback.'
Among the questions landowners asked is how they would benefit from a line passing over their property from Pennsylvania to Virginia. We asked McCormick about the potential benefits.
One, she said, is reliable power. Another, high-demand customers will have the opportunity to interconnect – either at the Danville, Md., substation along the Mineral-Allegany line, or at other points they would work out with PJM.
And, 'there are tax revenue benefits that come in. Here in Mon County, we're looking at $50 million to $100 million over the 40-year life of the project.'
Landowners along the line will be paid for their easements, she said. And they anticipate several hundred construction jobs during the two-year construction period.
Delegates Joe Statler, R-Monongalia, and John Williams, D-Monongalia, were among the local officials attending the open house.
Statler said NextEra met with them in Charleston during the legislative session, and learned they want to parallel existing lines as much as possible, and he was at the open house to look at that. And to explore if the new line would benefit existing local power plants. 'You've got an open mind.'
Williams said he came on behalf of a constituent who owns some business property where the line could pass through in Pennsylvania and is concerned.
For himself, he said, 'The company, the way that they're interacting today, they're being extremely professional answering questions. I've been to a few of these before. I've never seen people so interested in the public input, so I think they're doing a fantastic job with that. I do have some questions on what is this power generation or transmission, rather, what is it going to be used for.'
Could it be for grid stabilization, do data centers play a role, what would be the power mix feeding the lines.
On the topic of data centers, also raised by others at the open house, McCormick said, 'PJM's estimates and what they are forecasting holistically is part of what we're looking at.'
We noted in a report on PJM in January that PJM has warned that a capacity shortage could affect its system as early as the 2026-2027 delivery year, which begins June 1, 2026. Among the factors affecting this are the demand for electricity growing at the fastest pace in years, primarily from the proliferation of data centers, electrification of buildings and vehicles, and manufacturing.
NextEra Energy Transmission, a subsidiary of NextEra Energy, operates about 2,200 circuit miles of transmission lines across North America. NextEra Energy Transmission and its subsidiaries developed, designed and constructed transmission projects across 16 states and Canada.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
17 hours ago
- Yahoo
Tech transfer pledge steers Thailand to pick Sweden's Gripen warplane
CHRISTCHURCH, New Zealand — The Swedish government's offset package has proved decisive in Thailand's decision to purchase 12 Gripen E/F fighters in three phases. The economic and technology garnishes helped Saab's Gripen offer defeat its American F-16 Block 70/72 competitor. On June 4, the Royal Thai Air Force – or RTAF – held a press conference to announce it was buying more Gripens, with the deal accompanied by a generous package of technical support and offsets. When final offers were submitted last August, Saab had vowed, 'The Swedish proposal will ensure the best return on investment for Thailand that will exceed the contract value through a well-structured, long-term plan that covers key areas of critical technologies and national capabilities for Thailand.' Saab's offset package – equating to around 155% of the project's value – has proved especially appealing to a nation keen to boost its aerospace industry and self-sufficiency. 'The offset committee conducted negotiations with Saab concerning the defense offset proposal with the aims of maximizing benefits and complying with the policies of the government and the minister of defense,' the Thai air service said in a statement: A key element in Sweden's proposal is Thailand's unique, Saab-developed Link-T data link. Currently, only a handful of Thai aircraft and several warships are equipped with it. Bangkok now gains intellectual property rights for Link-T's unrestricted use and expansion. 'Saab will transfer Link-T development capabilities to the RTAF and local defense industry,' reads the service's statement. Link-T will enhance Thailand's ability to perform multi-domain operations. With the U.S. keeping tight control over its data links, Lockheed Martin's F-16 offer could not compete in this regard. Thailand's two Saab 340 airborne early warning aircraft will be upgraded, too, with Thai participation. Additionally, a local Gripen maintenance, repair and overhaul hub will be established. Furthermore, Thai companies will join the Gripen supply chain with opportunities to make components like tires, bearings, clamps and airframe parts. Training support covers 26 personnel, made up of six pilots, 18 maintainers and two support staff. From 2025-29, Saab will provide a mission support system for network-centric flight planning and training, plus a maintenance ground support system for logistics management and maintenance. Saab welcomed its selection, stating: 'In addition to Gripen E/F fighter aircraft and associated equipment, Saab's offer includes a long-term offset package. This will benefit the national security and strategic independence of Thailand, while also bringing new jobs and investments to a range of Thai society sectors.' Thai Gripen E/Fs will come with a Raven ES-05 radar, SkyWard infrared search and track, Arexis electronic warfare suite, a targeting pod and standoff weapon capability, Link-T, Meteor and IRIS-T missiles, and Targo helmet-mounted display. The initial batch comprises three single-seat Gripen Es and a twin-seat F, to be procured for 19.5 billion baht (nearly US$600 million) from FY2025-2029. Eight more Gripen E/Fs will be delivered through FY2034, replacing aging F-16A/B fighters in 102 Squadron. Thailand's aircraft choice followed a decision publicized on Aug. 27, 2024 that the Gripen had been nominated. Now with the selection approved, the air force said the procurement contract would be signed in August.
Yahoo
2 days ago
- Yahoo
20250604 - NextEra Energy: A Misunderstood Growth Machine
It's not easy to find bargains among well-established corporate giants. However, Mr. Market sometimes presents such opportunities to prudent investors. The renewable energy sector has taken a beating since President Trump's victory in November as he has made his intentions clear to support the fossil fuel sector. NextEra Energy, Inc. (NYSE:NEE), which owns the largest electric utility in the United States (Florida Power & Light Company) and also one of the leading clean energy companies in the world (NextEra Energy Resources) has also come under pressure as a result, losing over 6% of its market value in 2025 alone. A deeper dive into the company's supply chain reveals NextEra is largely immune to tariffs, making it a contrarian play in the renewable energy sector. The reasonable valuation of the company sweetens the deal, while attractive long-term macroeconomic prospects suggest a long runway for NextEra to grow. Warning! GuruFocus has detected 9 Warning Signs with NEE. NextEra Energy, headquartered in Florida, is the parent company of both Florida Power & Light and NextEra Energy Resources. Based on retail electricity sold, FPL is the largest rate-regulated utility in the U.S., serving approximately 12 million customers in Florida. NEER, on the other hand, serves the wholesale energy markets in both the U.S. and Canada and is the world's largest wind and solar projects operator. The company also has a battery storage business. Through FPL and NEER, NextEra maintains a well-diversified energy portfolio consisting of wind, solar, nuclear power, and even natural gas. Before moving on to discuss the long-term outlook for NextEra, it is important to address the tariff threats facing the renewable energy industry that have dampened the investor sentiment toward NextEra stock. On April 21, the U.S. Department of Commerce announced its study results from an investigation of antidumping duties on solar cells imported from several Southeast Asian nations, including Cambodia, Malaysia, Thailand, and Vietnam. Based on the findings, the Commerce Department recommended substantial tariffs on crystalline photovoltaic cells imported from these countries. For context, several Cambodian companies are expected to see tariffs exceeding a staggering 3,400%, while almost all other exporters representing Southeast Asian nations are expected to see tariffs exceeding 100%. The International Trade Administration is expected to announce its final determination on these tariffs by June 2, in less than a month. Southeast Asian nations have played a critical role in helping solar project costs remain low for Americans for years. In 2023, the four main countries targeted by the latest round of U.S. tariffs exported almost $12 billion worth of solar modules to the United States. Exhibit 1: Import statistics Source: International Trade Administration Newly announced tariffs are likely to make it more expensive for Americans to access solar power. However, NextEra Energy is in a unique position to show resilience from these tariffs compared to many of its peers that are heavily reliant on solar modules imported from Southeast Asia. First, NextEra Energy has commendably managed its supply chain efficiently in the last few years, reducing its reliance on Southeast Asia. For example, the company is currently sourcing wind turbines domestically, which includes manufacturing required components in its plants in Florida. The company also has ties with tariff-unaffected nations such as India. Strategic diversification of the supply chain to gain exposure to U.S. allies has made it possible for NextEra to weather the tariff storm better than most of its peers. Second, NextEra is often the largest customer of many of its suppliers, which creates wiggle room for the company to negotiate deals with suppliers to pass on any tariff impact to them. Suppliers have little bargaining power with NextEra because of its scale, which is likely to come to the rescue in the next few months. Third, NextEra has already secured contracts with domestic suppliers to meet the majority of its backlog for its battery storage business, leaving little exposure to tariffs. Commenting on the overall tariff exposure of the company during the first-quarter earnings call a couple of weeks ago, NextEra CEO John Ketchum revealed that the overall tariff exposure of the company through 2028 is just $150 million compared to total capital expenditures planned through 2028 of $75 billion. In a nutshell, only 0.2% of the company's capex budget is exposed to new tariffs. Encouragingly, CEO Ketchum is confident of NextEra's ability to shield itself from this exposure through renegotiated contracts. We think that we're looking at around $150 million of exposure on tariffs. That is based on the contractual protections we have in our existing contracts with suppliers and the discussions that we have had with them since Liberation Day on April 2. So that's the first piece. So that works you down to $150 million. Then the point we were making in the prepared remarks is that not only do we have the ability to shift tariff risk to suppliers and supply contracts, which I just covered, we also have trade measure protection provisions in our customer contracts. So we believe we got a really good shot at working with our customers to take that $150 million exposure down significantly and perhaps even down to zero if we use the track record we had around circumvention. Going by the CEO's above remarks and the strengths highlighted earlier in this segment, investor fears over new tariffs seem overblown. Tariff threats aside, the next step is to evaluate the long-term industry outlook for NextEra Energy. After a period of lackluster demand growth, the U.S. has entered a new era in which the demand for electricity is expected to grow at a healthy rate. According to Deloitte, the electricity demand in the U.S. will increase by 10% to 17% between 2024 and 2030, marking a notable improvement from stable demand over the past five years. The main reasons behind these rosy projections include the growing electricity consumption by data centers and the exponential growth in EVs. According to Deolitte, data center demand alone will lead to around 11 GW of incremental electricity demand by 2030. In addition to this, the expected boost in domestic manufacturing will also drive electricity demand higher in the coming years. With electricity demand predicted to see historically high growth in the next five years, NextEra's utility arm, Florida Power, is well-positioned to thrive. To capture a sizeable share of the growing electricity demand, FPL is planning to invest approximately $50 billion through 2029 and add more than 25 GW of new capacity by 2034. These ambitious goals align well with the projected growth in electricity demand. Another tailwind helping NextEra is the expected growth in renewable energy consumption. Although the Trump administration may initially focus on fossil fuel growth, the long-term outlook for renewable energy adoption remains strong. According to the International Energy Administration's ambitious plans which aim to achieve 100% clean electricity by 2035, wind and solar energy projects are expected to account for around 70% of energy generation. This equates to approximately 2 TW of capacity. As the global leader in wind and solar power generation, NextEra Energy Resources is well-positioned to benefit from this projected growth. NextEra will also benefit from its battery storage facilities. To meet renewable energy goals, high-quality energy storage solutions are necessary. Identifying this need, NextEra has aggressively expanded into battery storage, which has enabled the company to be recognized as a 360-degree renewable energy solutions provider. NextEra Energy is currently valued at a forward P/E of 18.28 in comparison to its five-year average of 24.33, which implies the company is cheaply valued from a historical valuation perspective. At the current market price, the dividend yield is also attractive at just over 3.4%. Interestingly, the company is expected to return to growth this year after registering a 12% YoY revenue decline in 2024. According to analyst projections, revenue will grow almost 16% this year, followed by 8.3% in 2026 and 11.6% in 2027. Earnings are also expected to grow at high-single-digit rates through 2029. These estimates seem rational given the strong growth expectations for electricity demand in the U.S. and the steady growth in renewable energy usage. Despite the market pessimism toward renewable energy stocks following President Trump's victory last November, some investing gurus are betting on NextEra Energy. Some of the institutional investors that added to their long position in NextEra leading up to 2025 include Blackstone Group, T. Rowe Price, and D. E. Shaw. However, there are other gurus who have reduced their exposure to NextEra in recent times, including Mario Gabelli (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), and Robert Bruce (Trades, Portfolio). According to GuruFocus data, NextEra has seen more guru sells than buys in recent times. Source: GuruFocus NextEra Energy stock has performed poorly this year due to concerns hanging over the sustainability of the renewable industry's growth under President Trump's administration. Although short-term challenges persist, a closer evaluation of newly announced tariffs reveals NextEra is unlikely to be hurt. The long-term outlook for FPL is promising with several tailwinds driving the demand for electricity in the United States, and NEER will benefit from the momentum behind renewable energy. Valued reasonably along with a dividend yield of 3.4%, NextEra Energy seems an attractive bet on the global energy transition. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Yahoo
20250604 - NextEra Energy: A Misunderstood Growth Machine
It's not easy to find bargains among well-established corporate giants. However, Mr. Market sometimes presents such opportunities to prudent investors. The renewable energy sector has taken a beating since President Trump's victory in November as he has made his intentions clear to support the fossil fuel sector. NextEra Energy, Inc. (NYSE:NEE), which owns the largest electric utility in the United States (Florida Power & Light Company) and also one of the leading clean energy companies in the world (NextEra Energy Resources) has also come under pressure as a result, losing over 6% of its market value in 2025 alone. A deeper dive into the company's supply chain reveals NextEra is largely immune to tariffs, making it a contrarian play in the renewable energy sector. The reasonable valuation of the company sweetens the deal, while attractive long-term macroeconomic prospects suggest a long runway for NextEra to grow. Warning! GuruFocus has detected 9 Warning Signs with NEE. NextEra Energy, headquartered in Florida, is the parent company of both Florida Power & Light and NextEra Energy Resources. Based on retail electricity sold, FPL is the largest rate-regulated utility in the U.S., serving approximately 12 million customers in Florida. NEER, on the other hand, serves the wholesale energy markets in both the U.S. and Canada and is the world's largest wind and solar projects operator. The company also has a battery storage business. Through FPL and NEER, NextEra maintains a well-diversified energy portfolio consisting of wind, solar, nuclear power, and even natural gas. Before moving on to discuss the long-term outlook for NextEra, it is important to address the tariff threats facing the renewable energy industry that have dampened the investor sentiment toward NextEra stock. On April 21, the U.S. Department of Commerce announced its study results from an investigation of antidumping duties on solar cells imported from several Southeast Asian nations, including Cambodia, Malaysia, Thailand, and Vietnam. Based on the findings, the Commerce Department recommended substantial tariffs on crystalline photovoltaic cells imported from these countries. For context, several Cambodian companies are expected to see tariffs exceeding a staggering 3,400%, while almost all other exporters representing Southeast Asian nations are expected to see tariffs exceeding 100%. The International Trade Administration is expected to announce its final determination on these tariffs by June 2, in less than a month. Southeast Asian nations have played a critical role in helping solar project costs remain low for Americans for years. In 2023, the four main countries targeted by the latest round of U.S. tariffs exported almost $12 billion worth of solar modules to the United States. Exhibit 1: Import statistics Source: International Trade Administration Newly announced tariffs are likely to make it more expensive for Americans to access solar power. However, NextEra Energy is in a unique position to show resilience from these tariffs compared to many of its peers that are heavily reliant on solar modules imported from Southeast Asia. First, NextEra Energy has commendably managed its supply chain efficiently in the last few years, reducing its reliance on Southeast Asia. For example, the company is currently sourcing wind turbines domestically, which includes manufacturing required components in its plants in Florida. The company also has ties with tariff-unaffected nations such as India. Strategic diversification of the supply chain to gain exposure to U.S. allies has made it possible for NextEra to weather the tariff storm better than most of its peers. Second, NextEra is often the largest customer of many of its suppliers, which creates wiggle room for the company to negotiate deals with suppliers to pass on any tariff impact to them. Suppliers have little bargaining power with NextEra because of its scale, which is likely to come to the rescue in the next few months. Third, NextEra has already secured contracts with domestic suppliers to meet the majority of its backlog for its battery storage business, leaving little exposure to tariffs. Commenting on the overall tariff exposure of the company during the first-quarter earnings call a couple of weeks ago, NextEra CEO John Ketchum revealed that the overall tariff exposure of the company through 2028 is just $150 million compared to total capital expenditures planned through 2028 of $75 billion. In a nutshell, only 0.2% of the company's capex budget is exposed to new tariffs. Encouragingly, CEO Ketchum is confident of NextEra's ability to shield itself from this exposure through renegotiated contracts. We think that we're looking at around $150 million of exposure on tariffs. That is based on the contractual protections we have in our existing contracts with suppliers and the discussions that we have had with them since Liberation Day on April 2. So that's the first piece. So that works you down to $150 million. Then the point we were making in the prepared remarks is that not only do we have the ability to shift tariff risk to suppliers and supply contracts, which I just covered, we also have trade measure protection provisions in our customer contracts. So we believe we got a really good shot at working with our customers to take that $150 million exposure down significantly and perhaps even down to zero if we use the track record we had around circumvention. Going by the CEO's above remarks and the strengths highlighted earlier in this segment, investor fears over new tariffs seem overblown. Tariff threats aside, the next step is to evaluate the long-term industry outlook for NextEra Energy. After a period of lackluster demand growth, the U.S. has entered a new era in which the demand for electricity is expected to grow at a healthy rate. According to Deloitte, the electricity demand in the U.S. will increase by 10% to 17% between 2024 and 2030, marking a notable improvement from stable demand over the past five years. The main reasons behind these rosy projections include the growing electricity consumption by data centers and the exponential growth in EVs. According to Deolitte, data center demand alone will lead to around 11 GW of incremental electricity demand by 2030. In addition to this, the expected boost in domestic manufacturing will also drive electricity demand higher in the coming years. With electricity demand predicted to see historically high growth in the next five years, NextEra's utility arm, Florida Power, is well-positioned to thrive. To capture a sizeable share of the growing electricity demand, FPL is planning to invest approximately $50 billion through 2029 and add more than 25 GW of new capacity by 2034. These ambitious goals align well with the projected growth in electricity demand. Another tailwind helping NextEra is the expected growth in renewable energy consumption. Although the Trump administration may initially focus on fossil fuel growth, the long-term outlook for renewable energy adoption remains strong. According to the International Energy Administration's ambitious plans which aim to achieve 100% clean electricity by 2035, wind and solar energy projects are expected to account for around 70% of energy generation. This equates to approximately 2 TW of capacity. As the global leader in wind and solar power generation, NextEra Energy Resources is well-positioned to benefit from this projected growth. NextEra will also benefit from its battery storage facilities. To meet renewable energy goals, high-quality energy storage solutions are necessary. Identifying this need, NextEra has aggressively expanded into battery storage, which has enabled the company to be recognized as a 360-degree renewable energy solutions provider. NextEra Energy is currently valued at a forward P/E of 18.28 in comparison to its five-year average of 24.33, which implies the company is cheaply valued from a historical valuation perspective. At the current market price, the dividend yield is also attractive at just over 3.4%. Interestingly, the company is expected to return to growth this year after registering a 12% YoY revenue decline in 2024. According to analyst projections, revenue will grow almost 16% this year, followed by 8.3% in 2026 and 11.6% in 2027. Earnings are also expected to grow at high-single-digit rates through 2029. These estimates seem rational given the strong growth expectations for electricity demand in the U.S. and the steady growth in renewable energy usage. Despite the market pessimism toward renewable energy stocks following President Trump's victory last November, some investing gurus are betting on NextEra Energy. Some of the institutional investors that added to their long position in NextEra leading up to 2025 include Blackstone Group, T. Rowe Price, and D. E. Shaw. However, there are other gurus who have reduced their exposure to NextEra in recent times, including Mario Gabelli (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), and Robert Bruce (Trades, Portfolio). According to GuruFocus data, NextEra has seen more guru sells than buys in recent times. Source: GuruFocus NextEra Energy stock has performed poorly this year due to concerns hanging over the sustainability of the renewable industry's growth under President Trump's administration. Although short-term challenges persist, a closer evaluation of newly announced tariffs reveals NextEra is unlikely to be hurt. The long-term outlook for FPL is promising with several tailwinds driving the demand for electricity in the United States, and NEER will benefit from the momentum behind renewable energy. Valued reasonably along with a dividend yield of 3.4%, NextEra Energy seems an attractive bet on the global energy transition. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data