NATURAL GAS
Natural gas accounted for more than 50 percent of the 13,500 MW of U.S. power plant capacity additions in 2013. On April 8, 2014, the Energy Information Administration (EIA) released a report showing that the U.S. added approximately 13,500 MW of new utility-scale generating capacity in 2013, with natural gas-fired power plants accounting for more…...
Proposed penalties regarding violation of federal pipeline safety regulations reached a record high of $9.7M in 2013. On April 7, 2014, the Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) announced that it proposed more than $9.7M in civil penalties for violations of pipeline safety regulations in 2013, the highest penalty amount proposed…...
In 2013, net U.S. energy imports declined to its lowest level since 1985, driven by growth in oil and natural gas production. On April 2, 2014, the Energy Information Administration (EIA) released a report showing that the U.S. imported a net 12.74 quadrillion British thermal units (Btu) of energy in 2013, the lowest level since…...
On February 19, 2014, the California Air Resources Board (CARB) held its sixth carbon allowance auction. Auction results over the first year show that compliance entities are becoming more comfortable with program and that investor market confidence is growing. Similarly, a secondary allowance market is also developing as market confidence grows. Overview The California Air…...
On March 4, 2014, the Regional Greenhouse Gas Initiative (RGGI) held the first carbon allowance auction under the new Model Rule. Auction prices reached record levels and high market participation and allowance demand exhausted the 5 million allowance Cost Containment Reserve. Overview The Regional Greenhouse Gas Initiative (RGGI) is the nation’s first mandatory market-based cap-and-trade…...
The New York Power Authority has released its updated strategic plan outlining actionable initiatives to attain a transformed energy system. On March 26, 2014, the New York Power Authority (NYPA) released its Strategic Vision 2014-2019, an updated strategic plan aimed to boost economic growth by providing more value to NYPA customers. Through the plan, NYPA…...
The Jordan Cove Energy Project has obtained DOE authorization to export U.S. LNG to non-FTA nations from its proposed $7.5B Oregon facility. On March 24, 2014, the Department of Energy (DOE) announced conditional authorization for the Jordan Cove Energy Project, L.P. to export liquefied natural gas (LNG) to non-Free Trade Agreement (FTA) countries from the…...
Governor Parnell’s legislation to advance a major Alaska LNG project passed the Alaska Senate by a 15-5 vote. On March 18, 2014, the Alaska Senate passed Senate Bill 138 (SB 138), Governor Sean Parnell’s bill aimed to advance the proposed large-diameter Alaska Liquefied Natural Gas (LNG) pipeline project. The bill provides a framework for Alaska…...
The EPA has lifted a 2012 ban that excluded BP from federal government contracts after BP agreed to safety, ethical, and corporate governance obligations. On March 13, 2014, the Environmental Protection Agency (EPA) and BP reached an agreement resolving suspension, debarment, and statutory disqualification that barred BP from bidding for federal government contracts following the…...
For the third time since 2007, the U.S. Supreme Court is reviewing the EPA’s regulation of greenhouse gas emissions (GHGs) under the Clean Air Act. Overview On February 24, 2014, the U.S. Supreme Court heard oral arguments over the case Utility Air Regulatory Group v. Environmental Protection Agency (EPA) on whether EPA is ultimately legitimized…...
The FY 2015 budget plan proposes $27.9B in DOE funding, reiterating President Obama’s commitment to a low-carbon future and energy infrastructure resilience. President Barack Obama’s FY 2015 budget plan released on March 4, 2014 allocates $27.9B for the Department of Energy (DOE), a 2.6 percent increase from the 2014 enacted level. It reflects DOE reorganization…...
Alternative power producers continue to turn to the YieldCo model to find lower costs of capital and residual value. Investors benefit from low risk exposure to renewable energy development, high yield and more favorable tax rates, however, risks do exist. Since January 1, 2014, two new YieldCos have been announced, SunEdison and Hannon Armstrong Sustainable…...