I. Issue Summary
On March 16, 2021, the Federal Energy Regulatory Commission (Commission or FERC) issued a notice regarding a technical conference inviting comments on matters related to electric reliability threats posed by climate change and extreme weather events.[1] [1] The conference will be held from June 1 to June 2, 2021 with pre-conference comments due by April 15, 2021.
II. Summary of R Street Position
Climate change adaptation is a societal risk management exercise. Independently, electric reliability policy has evolved toward a risk management framework. As such, it is important to accurately fuse characteristics of climate risk into the evolving risk-based electric reliability framework. Overlaying climate risk onto the preexisting and potential future configurations of reliability risk frameworks helps inform policy makers in revising current policies, protocols, and inputs in a manner that maximizes net benefits to society.