Meanwhile, back at the PATH ranch, the "Status Update" sent to FERC states that, "some non-development activities and non-capital cost expenditures will necessarily continue..."
It seems that quite a few of PATH's Option Agreements are due to be renewed (at PATH's discretion, of course, remember PATH wrote these Options and coerced landowners into signing them without the benefit of legal advice). Renewal of an option requires another payment to the landowner. The option payments to landowners are a capital expense.
Is PATH lying to the Federal Energy Regulatory Commission, or are they going to let the options expire? Or, the most likely explanation -- Will PATH continue to be an uncoordinated, mismanaged mess where they say one thing and do another and when they're caught, they say, "ooops!"?