ST. LOUIS, Aug. 3, 2018 /PRNewswire/ -- Today the Federal
Energy Regulatory Commission (FERC) approved an order issuing a
Certificate of Public Convenience and Necessity for the Spire STL
Pipeline, enabling the St. Louis
region to receive a new source of natural gas. With this approval,
the pipeline will move forward with land acquisition and other
pre-construction activities.
"This approval is great news for people who live and work in the
St. Louis region," said
Mike Geiselhart, president, Spire
STL Pipeline. "This project will provide access to new, abundant
sources of domestic natural gas for homes and businesses across our
area. The Spire STL Pipeline will improve resiliency and bring
greater supply security for years to come."
As a part of the certificate process, the pipeline held
community meetings for landowners and community members and met all
environmental, cultural and civil standards set by the FERC.
Throughout the process the pipeline location, construction plans,
suppliers and materials were all selected to ensure the well-being
and safety of communities along the route. The 65-mile Spire STL
Pipeline will interconnect with the existing Rockies Express
Pipeline in Scott County, Illinois
and run through Scott, Greene and
Jersey counties in Illinois and St.
Charles and St. Louis
counties in Missouri.
With the approval, we will revise and finalize our construction
plan, including a final timeline and targeted in-service date.
Based upon our initial evaluation and work with our contractor, as
well as our desire to avoid the added costs of wintertime
construction, we anticipate the targeted in-service date will move
to late calendar 2019. The total project costs are expected to
increase modestly to a range of $210
million - $225 million.
Spire Inc. affirms its existing earnings and capital spend
guidance for fiscal 2018, as well as its long-term targets for
earnings per share growth and capital expenditures. The timing of
the project is anticipated to increase expenditures in fiscal 2019.
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 customers
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 non-utility operations include
Spire Marketing, which provides natural gas marketing and related
services. We are committed to transforming our business and
pursuing growth through 1) growing organically, 2) investing in
infrastructure, 3) acquiring and integrating, and 4)
innovation and technology. Learn more at SpireEnergy.com.
Investor Contact:
Scott W. Dudley Jr.
Scott.Dudley@SpireEnergy.com
314-342-0878
Media Contact:
Jessica B. Willingham
Jessica.Willingham@SpireEnergy.com
314-342-3300
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SOURCE Spire Inc.