California Governor Gavin Newsom on Oct. 10 signed legislation to advance the state’s growing carbon capture, removal, and storage market, marking another milestone in its climate leadership. The measure, Senate Bill 614, authorizes the development of dedicated pipelines to safely transport carbon dioxide captured from industrial facilities or directly from the atmosphere to underground sites…...
The Minnesota Public Utilities Commission on Oct. 3 approved the acquisition of ALLETE Inc., parent company of Minnesota Power, by Global Infrastructure Partners and the Canada Pension Plan Investment Board, subject to extensive conditions designed to protect customers and support the state’s clean energy transition. The agreement ensures continued state oversight while delivering over $200…...
New York Governor Kathy Hochul on Sept. 26 announced a coordinated effort to speed up the deployment of renewable energy projects, underscoring the state’s commitment to reliable, affordable, and clean power. The initiative is designed to meet rising electricity demand, advance economic development, and take advantage of federal tax credits that are set to expire…....
ISO New England Inc. on Sept. 15 released its 2024 Economic Study, New England’s Evolving Grid, showing that states across the region could potentially achieve 85 percent of their carbon dioxide reduction goals by 2045 with a mix of solar power, land-based wind, and short-duration energy storage. The findings reflect the grid operator’s modeling of…...
The U.S. Energy Information Administration reported that per capita carbon dioxide emissions from primary energy consumption declined in every state between 2005 and 2023, with overall U.S. energy-related CO2 emissions falling 20 percent during the same period. Population growth of 14 percent contributed to a 30 percent decrease in per capita emissions, the agency said…...
The U.S. Environmental Protection Agency on Sept. 12 announced a proposed rule to end the Greenhouse Gas Reporting Program, removing reporting obligations for most large facilities, all fuel and industrial gas suppliers, and carbon dioxide injection sites. The agency projects this change would save businesses up to $2.4 billion in regulatory costs over a 10-year…...
The Bureau of Land Management on Sept. 15 reported that an oil and gas lease sale covering 23 parcels in Montana and North Dakota generated more than $38 million in revenue. The sale, which encompassed roughly 7,600 acres, surpassed the agency’s total national energy and timber receipts from the last quarter. The results indicate increased…...
The Washington Department of Ecology on Sept. 10 reported that all available emissions allowances were sold in the state’s 11th quarterly carbon auction, underscoring market confidence. The auction raised an estimated $446 million, which includes $295 million for the state and $151 million to benefit utility ratepayers. This brings the total state proceeds close to…...
The U.S. Environmental Protection Agency secured a favorable ruling on Sept. 2 from the U.S. Court of Appeals for the District of Columbia Circuit. The court ruled that EPA has the authority to terminate $20 billion in grants awarded under the Greenhouse Gas Reduction Fund, a program established by the 2022 Inflation Reduction Act. The decision…...
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…...