Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Maryland farm at risk of losing 'millions' from PJM's 70-mile, 500,000-volt electrical transmission project By: FOX Business August 18, 2024 at 10:54 AM EDT Gaver Farm, a family-owned and operated farm in Maryland, says the impact of the Maryland Piedmont Reliability Project would have a severe financial impact on their business. A Maryland-based family farm and other members of the community are vehemently opposing a proposed 500,000-volt transmission line that will traverse through Baltimore, Carroll and Frederick counties, a project that will cost $424 million and was awarded to the Public Service Enterprise Group Inc. (PSEG) by PJM.The operation to deploy electricity through multiple states, which PSEG’s website says is a response to the increase in power demand in Maryland, is slated to unfold in June 2027."We have a historic homestead that is special to this area," Laura House, a New Market resident and owner of Gaver Farm, an agritourism business, told FOX Business during a phone interview.‘EVERYONE IS JUST TRYING TO FEED AMERICA’"It's not something that can be duplicated or moved. A lot of what we have here, we've been developing for those 40 years."The owners of Gaver Farm, which include House, her husband, parents, brother and sister-in-law, operate the family business full-time as well as employ full-time and seasonal workers."If it hurts our business, it's going to hurt those that we employ too," House said. "We have a lot of vendors that we support in our community. Small business owners will be hurt."VARIOUS LIVESTOCK ANIMALS AND THEIR IMPACT ON THE ECONOMYA preferred route for the blueprint, referred to as Maryland Piedmont Reliability Project (MPRP), has yet to be selected.Communities, which include populated areas, developed neighborhoods and environmentally sensitive areas, initially hoped to be avoided by the power lines, according to a dedicated MPRP page on the PSEG website.However, the approximately 70-mile transmission route is anticipated to affect one faction or another as "PJM determined that system reinforcements are necessary and that a new overhead transmission line is required in the Piedmont Plateau region of Maryland," according to the site.AMERICAN FARMERS SUFFER AS WATER CRISIS ESCALATES NEAR THE BORDERGaver Farm predicts "millions of dollars" in financial losses if the route is situated above their acreage."Emotionally, it’s hard, but the dollar amount is substantial," House said.The farm, celebrating its 40th anniversary this year, protects an original family cemetery and permanent crops, including Christmas trees that mature in 8-12 years."We've been growing some of these trees for 5-10 years, and they would cut them down and waste them," House said."We’re building those expenses and waiting 10 years to earn the impact of that crop."As a "high-voltage regional project," customers across 13 states and the District of Columbia will pay for MPRP.INFLATION PUSHING NEXT GENERATION FARMERS OUT OF BUSINESS: ‘CAN’T BELIEVE WHAT THINGS COST'"We are bearing the expense of it here in Maryland," House said. "We don't have the potential for income to come from it in our state."House is concerned that the project will largely serve Virginia, not Maryland residents and business owners."We anticipate a loss of both our customer base and the visual appeal of the farm," House said.H-frame structures made from "weathering steel" are proposed to run through three counties and underground transmission lines are unattainable, according to the PSEG website.When reached for comment, a spokesperson for PSEG told FOX Business via email that the company "will compensate property owners for the fair market value of the property rights acquired to support the project, such as tower placement, wire occupation, temporary/permanent access and the like. If those properties include an operating business, the impact to the business, if any, will be considered in arriving at compensation."US AGRICULTURE INDUSTRY GEARS UP FOR FUTURISTIC AERIAL ‘DRONE-SWARM’ FARMING AFTER FAA DECISIONIn a current position of equality, House believes that, if the undesirable Gaver outcome crops up, the family farm does not have a choice in accepting the compensation package offered."All property owners will have the ability to accept or reject any compensation offers presented by PSEG," the spokesperson said. "Once the CPCN is issued, if the parties are unable to agree upon easement value and no other property options exist, PSEG can submit the valuation question to an independent 3rd party, in the form of a court panel for determination of fair compensation for the easement."House beseeches an alternative in all respects."Data centers are new, and I understand that there is a need for them," House said. "If we can’t have this stopped, we need to ask them to colocate with already existing power lines. There are other options that would have a much lower impact."AMERICAN BEEF INDUSTRY HITS RECORD LOW, ACCORDING TO USDAStakeholder surveys were provided online for residents and proprietors to reveal impact statements. However, House said the three questions were limited to 250 characters each, leaving only enough room for a few sentences."It did not give us nearly enough space to write the true impact this would have on our property and business," House said. "We spent a lot of time on it. It was very difficult. We’ve tried to put into it what it will mean to us and the community."House added that the family has implored politicians and local and state stakeholders to put an end to the large transmission line project outright via an emailed impact statement.Six public meetings, among other avenues for communication, were held in July for local residents and business owners to attend and submit feedback, according to the PSEG spokesperson.'COSTLY’ ESG STANDARDS, CLIMATE POLICIES WILL ULTIMATELY REDUCE FOOD AND ENERGY SUPPLIES: REPORTGET FOX BUSINESS ON THE GO BY CLICKING HERE"Once we arrive at a preferred route, our team will again return to the public to seek more input," the spokesperson said.Over 5,000 public comments are being reviewed by PSEG and the company intends to return to the public with a preferred route in the coming months. Stock Quote API & Stock News API supplied by www.cloudquote.io Quotes delayed at least 20 minutes. 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Maryland farm at risk of losing 'millions' from PJM's 70-mile, 500,000-volt electrical transmission project By: FOX Business August 18, 2024 at 10:54 AM EDT Gaver Farm, a family-owned and operated farm in Maryland, says the impact of the Maryland Piedmont Reliability Project would have a severe financial impact on their business. A Maryland-based family farm and other members of the community are vehemently opposing a proposed 500,000-volt transmission line that will traverse through Baltimore, Carroll and Frederick counties, a project that will cost $424 million and was awarded to the Public Service Enterprise Group Inc. (PSEG) by PJM.The operation to deploy electricity through multiple states, which PSEG’s website says is a response to the increase in power demand in Maryland, is slated to unfold in June 2027."We have a historic homestead that is special to this area," Laura House, a New Market resident and owner of Gaver Farm, an agritourism business, told FOX Business during a phone interview.‘EVERYONE IS JUST TRYING TO FEED AMERICA’"It's not something that can be duplicated or moved. A lot of what we have here, we've been developing for those 40 years."The owners of Gaver Farm, which include House, her husband, parents, brother and sister-in-law, operate the family business full-time as well as employ full-time and seasonal workers."If it hurts our business, it's going to hurt those that we employ too," House said. "We have a lot of vendors that we support in our community. Small business owners will be hurt."VARIOUS LIVESTOCK ANIMALS AND THEIR IMPACT ON THE ECONOMYA preferred route for the blueprint, referred to as Maryland Piedmont Reliability Project (MPRP), has yet to be selected.Communities, which include populated areas, developed neighborhoods and environmentally sensitive areas, initially hoped to be avoided by the power lines, according to a dedicated MPRP page on the PSEG website.However, the approximately 70-mile transmission route is anticipated to affect one faction or another as "PJM determined that system reinforcements are necessary and that a new overhead transmission line is required in the Piedmont Plateau region of Maryland," according to the site.AMERICAN FARMERS SUFFER AS WATER CRISIS ESCALATES NEAR THE BORDERGaver Farm predicts "millions of dollars" in financial losses if the route is situated above their acreage."Emotionally, it’s hard, but the dollar amount is substantial," House said.The farm, celebrating its 40th anniversary this year, protects an original family cemetery and permanent crops, including Christmas trees that mature in 8-12 years."We've been growing some of these trees for 5-10 years, and they would cut them down and waste them," House said."We’re building those expenses and waiting 10 years to earn the impact of that crop."As a "high-voltage regional project," customers across 13 states and the District of Columbia will pay for MPRP.INFLATION PUSHING NEXT GENERATION FARMERS OUT OF BUSINESS: ‘CAN’T BELIEVE WHAT THINGS COST'"We are bearing the expense of it here in Maryland," House said. "We don't have the potential for income to come from it in our state."House is concerned that the project will largely serve Virginia, not Maryland residents and business owners."We anticipate a loss of both our customer base and the visual appeal of the farm," House said.H-frame structures made from "weathering steel" are proposed to run through three counties and underground transmission lines are unattainable, according to the PSEG website.When reached for comment, a spokesperson for PSEG told FOX Business via email that the company "will compensate property owners for the fair market value of the property rights acquired to support the project, such as tower placement, wire occupation, temporary/permanent access and the like. If those properties include an operating business, the impact to the business, if any, will be considered in arriving at compensation."US AGRICULTURE INDUSTRY GEARS UP FOR FUTURISTIC AERIAL ‘DRONE-SWARM’ FARMING AFTER FAA DECISIONIn a current position of equality, House believes that, if the undesirable Gaver outcome crops up, the family farm does not have a choice in accepting the compensation package offered."All property owners will have the ability to accept or reject any compensation offers presented by PSEG," the spokesperson said. "Once the CPCN is issued, if the parties are unable to agree upon easement value and no other property options exist, PSEG can submit the valuation question to an independent 3rd party, in the form of a court panel for determination of fair compensation for the easement."House beseeches an alternative in all respects."Data centers are new, and I understand that there is a need for them," House said. "If we can’t have this stopped, we need to ask them to colocate with already existing power lines. There are other options that would have a much lower impact."AMERICAN BEEF INDUSTRY HITS RECORD LOW, ACCORDING TO USDAStakeholder surveys were provided online for residents and proprietors to reveal impact statements. However, House said the three questions were limited to 250 characters each, leaving only enough room for a few sentences."It did not give us nearly enough space to write the true impact this would have on our property and business," House said. "We spent a lot of time on it. It was very difficult. We’ve tried to put into it what it will mean to us and the community."House added that the family has implored politicians and local and state stakeholders to put an end to the large transmission line project outright via an emailed impact statement.Six public meetings, among other avenues for communication, were held in July for local residents and business owners to attend and submit feedback, according to the PSEG spokesperson.'COSTLY’ ESG STANDARDS, CLIMATE POLICIES WILL ULTIMATELY REDUCE FOOD AND ENERGY SUPPLIES: REPORTGET FOX BUSINESS ON THE GO BY CLICKING HERE"Once we arrive at a preferred route, our team will again return to the public to seek more input," the spokesperson said.Over 5,000 public comments are being reviewed by PSEG and the company intends to return to the public with a preferred route in the coming months.