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…...
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…...
