The 44th quarterly carbon auction held by California and Quebec sold all of the nearly 51.9 million carbon permits offered under the current auction at a price of $28.76 per allowance, above the floor price of $25.87, according to the results released on Aug. 27 by the California Air Resources Board. The current auction’s clearing…...
PJM Interconnection LLC and its stakeholders on Aug. 26 launched discussions under the Sub-Annual Capacity Market Senior Task Force, focusing on potential seasonal changes to its capacity market design. The group, created earlier this year by the PJM Markets and Reliability Committee, is tasked with evaluating sub-annual structures as the grid operator shifts away from…...
The Maryland Public Service Commission on Aug. 20 launched a broad review of natural gas system planning practices under its ongoing “Future of Gas” proceeding. The regulator said the initiative is intended to evaluate whether the current long-term capacity, supply, and investment planning processes of natural gas utilities are consistent with the state’s climate commitments…...
New Jersey Governor Phil Murphy signed into law two measures on Aug. 15 that aim to increase transparency and accountability in the operations of regional grid operator PJM Interconnection LLC, as households and businesses face mounting electricity costs. The legislation strengthens the role of the New Jersey Board of Public Utilities in examining PJM’s market…...
The Arizona Corporation Commission on Aug. 14 voted unanimously to begin the process for repealing the Renewable Energy Standard and Tariff, or REST, rules. Established in 2006, the rules require the state’s electric utilities to source a certain percent of their electricity from renewable energy resources, reaching 15 percent by 2025. The state’s two largest…...
The Department of the Interior on Aug. 7 initiated a full review of offshore wind energy regulations to ensure they align with the Outer Continental Shelf Lands Act and the nation’s current energy priorities under the Trump administration. The review will focus on the Renewable Energy Modernization Rule, financial assurance requirements, and decommissioning cost estimates…...
Texas Governor Greg Abbott on Aug. 4 announced a loan agreement between the Public Utility Commission and NRG Energy Inc. under the Texas Energy Fund, or TEF, to support a 456-megawatt (MW) natural gas-fired power plant in Houston. This marks the second loan agreement under the TEF’s In-ERCOT Generation Loan Program, designed to provide low-interest…...
The UK’s Office of Gas and Electricity Markets on July 30 initiated a broad review into how costs are allocated across the energy system, aiming to assess the fairness and efficiency of existing pricing structures for consumers. The effort, titled the Cost Allocation and Recovery Review, will examine the full spectrum of energy system costs,…...
The U.S. Environmental Protection Agency on July 29 unveiled a proposal to rescind the 2009 endangerment finding, a legal foundation that has enabled federal regulation of greenhouse gas emissions from vehicles for over a decade. Announced by EPA Administrator Lee Zeldin, the proposal seeks to eliminate the statutory basis for more than $1 trillion in…...
New York Governor Kathy Hochul on July 28 announced the launch of the state’s first Bulk Energy Storage Request for Proposals, aiming to procure one gigawatt of storage capacity as part of the state’s broader goal to deploy six gigawatts of energy storage by 2030. Administered by the New York State Energy Research and Development…...
The Western Energy Markets Governing Body on July 23 has taken a significant step under the California Independent System Operator’s new independent governance framework by voting to preserve a key grid reliability tool, Assistance Energy Transfers, or AET, within the Western Energy Imbalance Market. The mechanism, introduced in 2023, allows balancing authorities to receive emergency…...
PJM Interconnection LLC’s capacity market auction for the 2026/2027 delivery year cleared at a record-high price of $329.17 per megawatt-day (MW-day), about 22 percent higher than last year’s auction, according to the results announced on July 22. The clearing price hit the price cap approved by the Federal Energy Regulatory Commission following a ninefold increase…...
