NORTH CAROLINA — Duke Energy and Dominion Energy have decided not to build the controversial Atlantic Coast Pipeline.  

The companies are citing delays and mounting costs as their reasons. They said that the possibility of new legal challenges and other risks in constructing the pipeline brought them to a point where they don't want to invest more in the project. 

The pipeline was announced in 2014, costing $4.5 billion, but the cost has since increased to $8 billion.

During a statement, Cooper said, "Our clean energy plan provides an excellent framework and stakeholder process for renewable energy moving forward." 

This decision comes after a victory in the Supreme Court last month that upheld a permit that would have let the pipe run under the Appalachian Trail.  

The pipeline was designed to carry natural gas from West Virginia to Southeastern North Carolina.