NATURAL GAS
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…...
The Office of Inspector General found that the State Department followed proper conflict-of-interest guidelines in selecting the contractor for the proposed Keystone XL project’s environmental review. On February 26, 2014, the State Department’s Office of Inspector General (OIG) released its Compliance Follow-up Review weighing the State Department’s selection of third-party contractor Environmental Resources Management (ERM)…....
The Bureau of Ocean Energy Management has released its final environmental review identifying mitigation measures to advance energy exploration activities off the Mid- and South-Atlantic coast. On February 27, 2014, the Bureau of Ocean Energy Management (BOEM) released its Final Programmatic Environmental Impact Statement (PEIS) for geological and geophysical (G&G) survey activities in the Mid-…...
BLM has released a draft environmental analysis of the first proposed commercial oil production project in the Alaska National Petroleum Reserve. On February 21, 2014, the U.S. Bureau of Land Management (BLM) published a notice seeking public input on the Draft Supplemental Environmental Impact Statement (SEIS) for the proposed Greater Mooses Tooth Unit 1 (GMT1),…...
Con Edison’s new multi-year rate plan keeps electric, gas, and steam delivery charges unchanged for 2 to 3 years and includes $1B for climate resiliency measures. Consolidated Edison Company’s (Con Edison) new multi-year, rate-stabilizing agreement approved by the New York State Public Service Commission (PSC) on February 20, 2014 will keep its base electric rates…...