NextEra Rethinks Mountain Valley Pipeline, Takes $800 Million Charge
- Court rejected two approvals for key natural gas pipeline
- The $6.2 billion Mountain Valley Pipeline more than 90% done
Photographer: Andrew Burton/Getty Images
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NextEra Energy Inc. is reevaluating its investment in a key natural gas pipeline project that’s seen as crucial for shale drillers in the Appalachians after a court rejected two necessary approvals.
NextEra will take an $800 million impairment charge this quarter for the Mountain Valley Pipeline, according to a filing Friday.