other material
confidence high
sentiment positive
materiality 0.55
Federal debt limit legislation clears path for Mountain Valley Pipeline; completion targeted by year-end 2023
RGC RESOURCES INC
- Federal debt limit law enacted June 3 includes provisions declaring MVP completion in U.S. national interest and ratifying all necessary permits.
- MVP operator Equitrans Midstream intends to complete construction by year-end 2023, assuming timely issuance of remaining authorizations.
- Estimated total project cost for the 303-mile gas pipeline is approximately $6.6 billion.
- RGC Midstream, wholly owned subsidiary of RGC Resources, holds an approximate 1% equity stake in Mountain Valley Pipeline LLC.