On December 19, 2022, the New York State Climate Action Council adopted the final scoping plan, which will serve as a roadmap to achieve the climate change mandates set forth in New York’s landmark climate law, the Climate Leadership and Community Protection Act, CLCPA.
FERC late Friday narrowly rejected two proposals by PJM Interconnection to help the grid operator address state subsidies for uneconomic coal and nuclear power plants.
The Department of Energy has released a Notice of Intent/Request for Information describing and soliciting feedback on its proposed plan for implementing the Bipartisan Infrastructure.
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On Friday, February 26, the Biden Administration’s newly-resurrected Interagency Working Group on Social Cost of Greenhouse Gases (IWG) announced new values for three specific metrics that seek to monetize the environmental impacts of greenhouse gases: the Social Cost of Carbon, Social Cost of Nitrous Oxide, and Social Cost of Methane. Collectively these are known as the Social Costs of Greenhouse Gases, or SC-GHG.
Using 2020 as a baseline and a 3 percent average discount rate (explained further below), the IWG calculated the Social Cost of Carbon at US$51/metric ton (mt), the Social Cost of Methane at US$1,500/mt, and the Social Cost of Nitrous Oxide at US$18,000/mt. This represents a dramatic reversal in the federal government’s valuation of the impacts of climate change, as under the prior Administration these social costs were set at essentially insignificant levels.