Inflation Reduction Act
FERC Issues Carbon Pricing Policy
On April 15, 2021, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued its much anticipated policy statement on carbon pricing in organized markets. [1] The non-binding policy statement provides guidance regarding the manner in which FERC will evaluate proposals...
Secondary Market in UK Offshore Wind — Spinnakers Out
Article originally appeared on LexisNexis In the News The M&A secondary market for UK offshore wind assets is taking off. Despite the pandemic, 2020 saw significant transactions in the UK offshore wind market fill the pages of the financial press...
FERC Reverses Broadview on Rehearing; Reinstates Focus on Output in Evaluating 80 MW Cap for QFs
On March 19, 2020, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued an Order Addressing Arguments Raised on Rehearing and Setting Aside Prior Order in Broadview Solar, LLC , 174 FERC ¶ 61,199 (2021) (“ Broadview 2021 ”). The...
FERC Refines DER Wholesale Market Participation Rules
On March 18, 2021, the Federal Energy Regulatory Commission (“FERC”) issued an order on rehearing of its landmark final rule, Order No. 2222, pertaining to the participation of distributed energy resources (“DER”) through an aggregator in FERC-jurisdictional Regional Transmission Organization...
FERC Delays Implementation of New MBR Database Reporting Requirements and Clarifies Obligation To Report Upstream Owners
NOTE: Since the original publication of this post, FERC has postponed the implementation of Order No. 860. Baseline filings into the new relational database are due on February 1, 2022. On March 18, 2021, in response to a petition seeking...
Expectations for Offshore Wind Under the Biden Administration
President Joe Biden’s arrival at the White House in January was, as customary for any new executive branch leader, met by outsized expectations on the part of supporters and detractors alike. Among the countless areas of public policy set to...
Florida Water System Hack Highlights Challenges for Public Utility Cybersecurity
Earlier this month, fears usually confined to dystopian novels and Hollywood movies were realized in Oldsmar, Florida when an unknown hacker breached the city’s water treatment system by successfully accessing its control systems and increasing sodium hydroxide to deadly levels...
Regulators to Review Market Design and Reliability Following 2021 Polar Vortex
Background Over Presidents’ Day weekend 2021, an unprecedented cold weather event hit the Midwest and South central United States. The storm led to major disruptions to infrastructure throughout the region, including icy road conditions, frozen pipes, and an estimated 3...
FERC Directs RTOs and ISOs to File Reports on Hybrid Resources
On January 19, 2021, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued an order directing each Regional Transmission Organization (“RTO”) and Independent System Operator (“ISO”) to submit information regarding hybrid resources, or resources comprised of multiple types of generation...
Nigeria's upstream petroleum sector: looking back at 2020 and looking ahead in 2021
We review what happened in Nigeria’s upstream petroleum sector during the previous year – a year that saw a new marginal field bid round, an oil price crash and the onset of a terrible global pandemic. We also consider what...
FERC Seeks Industry Input on Financial Assurances for Hydro Projects
On January 19, 2021, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued a Notice of Inquiry (NOI) requesting industry input regarding the scope and necessity of potential financial assurances that it should impose on hydroelectric projects seeking FERC licenses...
FERC Issues Notice of Inquiry on Possible Expansion of Accounting and Reporting Requirements for Renewable Energy Assets
On January 19, 2021, the Federal Energy Regulatory Commission (“FERC”) issued a notice of inquiry to explore the treatment of accounting for certain costs associated with renewable energy assets. [1] Specially, FERC seeks comments from the public on whether FERC...
Treasury Releases Final Regulations on 45Q Carbon Capture Credits
On January 6, 2021, the Department of the Treasury and the Internal Revenue Service (IRS) issued final regulations (the Final Regulations) under section 45Q of the Internal Revenue Code of 1986, as amended (Section 45Q), which allows a credit for...
Opposites Attract: How Oil & Gas and Renewables+Storage Are the Perfect Match
Article originally appeared in the November 2020 issues of Oil, Gas & Energy Law Intelligence (Vol. 18 - issue 6) I. Introduction As the world lives through a global pandemic, it is challenged inter alia with persistent blackouts and wildfires...
FERC Proposes Incentive-Based Rate Treatment for Cybersecurity Investments
On Thursday, December 17, 2020, the Federal Energy Regulatory Commission (“FERC”) issued a Notice of Proposed Rulemaking (“NOPR” or “Proposed Rule”) seeking comment on proposals that would allow public utilities to make a filing pursuant to Section 205 of the...