The U.S. Energy Department is negotiating contract awards with nine U.S. companies to store about 23 million barrels of crude oil in the Strategic Petroleum Reserve, or SPR, according to an April 16 news release. This act aims to relieve oil producer’s stress in dealing with excess production under the combined effects of COVID-19 pandemic…...
Democratic Governor Ralph Northam on April 11 signed into law the Virginia Clean Economy Act, which sets the state on the path to carbon-free power by 2050. The law replaces the voluntary renewable energy portfolio program with a mandatory standard, and paves the way for an enormous expansion of wind and solar power, and energy…...
The U.S. electric power sector will add 19.4 gigawatts of wind capacity and 12.6 gigawatts of utility-scale solar capacity in 2020, according to the Energy Information Administration’s Short-Term Energy Outlook issued on April 7. These annual wind and solar capacity additions are 5 percent and 10 percent lower, respectively, compared to the previous report. Renewable…...
The U.S. Energy Department plans to announce a funding opportunity for energy storage technologies that can improve the performance, reliability, and flexibility of fossil-fueled power generating facilities, according to an April 7 news release. The department expects co-location of energy storage with fossil energy assets to enable multiple benefits, including more reliable and affordable energy supply,…...
The U.S. Interior Department’s Bureau of Land Management announced a proposal to offer 45 parcels of land, totaling about 67,244 acres located on Jackson, Las Animas, Rio Blanco, and Weld Counties, at the September quarterly oil and gas lease sale, according to a Mar. 31 news release. The agency is seeking public input on issues…
The U.S. Environmental Protection Agency on March 26 announced a temporary policy relaxing its enforcement of environmental legal obligations during the COVID-19 pandemic. The policy gives more flexibility to power plants and other regulated entities on pollution control measures in a time of crisis. The measure allows the noncompliance as long as the entity provides…
The New Mexico Public Regulation Commission on April 1 approved the Public Service Company of New Mexico’s request to abandon the San Juan Generating Station and use securitization bonds through the Energy Transition Act, or ETA, to finance its remaining investment in the plant. The move follows the state Supreme Court’s ruling that the commission must apply the ETA to the closure and replacement…...
The U.S. Energy Department on April 2 announced a solicitation to make 30 million barrels of the Strategic Petroleum Reserve’s storage capacity available to oil producers amid an unprecedented drop in demand caused by the COVID-19 economic impacts, as well as the intentional disruption of oil markets by foreign actors. The agency said that a…...
The U.S. Environmental Protection Agency and Department of Transportation’s National Highway Traffic Safety Administration on March 31 finalized fuel economy and carbon dioxide emissions standards for cars and light trucks for model years 2021 to 2026. The Safer Affordable Fuel-Efficient, or SAFE, Vehicles Rule increases the stringency of these standards by 1.5 percent a year,…...
The Federal Energy Regulatory Commission on March 30 authorized the acquisition of El Paso Electric Company by an investment vehicle advised by J.P. Morgan Investment Management Inc., subject to approval of mitigation measures to address potential adverse effects on competition. This is the final regulatory approval required to consummate the transaction. The proposed sale has…...
Offshore wind energy, which is key to realize the clean energy transition in several East Coast states, is faced with tough challenges as the COVID-19 pandemic disrupts the global supply chain, affecting project timelines. Delays have the potential to threaten power purchase contracts and federal tax credits that are crucial for project economics.
The Federal Energy Regulatory Commission on March 19 conditionally approved the Jordan Cove liquefied natural gas export project and the associated Pacific Connector pipeline in Oregon. The approval is conditioned on the project qualifying for state permits, but Oregon regulators have declined several key regulatory approvals. The LNG terminal would be located in Coos County,…...
