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Monday, April 19, 2021
On April 15, 2021, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued its much anticipated policy statement on carbon pricing in organized markets.
[1] The non-binding policy statement provides guidance regarding the manner in which FERC will evaluate proposals submitted pursuant to Section 205
[2] of the Federal Power Act (“FPA”) to establish market rules for incorporating a state-determined carbon price into organized markets operated by Regional Transmission Organizations and Independent System Operators (“RTO”).
In the policy statement, FERC observes that RTOs are increasingly evaluating incorporating carbon pricing into their wholesale market in response to state programs that seek to reduce greenhouse gas (“GHG”) emissions through the imposition of fees associated with emissions and cap-and-trade programs. Acknowledging that the incorporation of a state-determined carbon price into wholesale mar
Electric
E-1 – Electric Transmission Incentives Policy Under Section 219 of the Federal Power Act (Docket No. RM20-10-000). On March 20, 2020, the Commission issued a Notice of Proposed Rulemaking (NOPR) relating to electric transmission incentives policy pursuant to the Federal Power Act (FPA). In the NOPR, the Commission furnished proposed revisions to transmission planning and cost allocation processes following significant developments in the sector, reflecting a potential new focus on reliability and economic benefits rather than the current risks and rewards approach associated with specific projects. Further, the NOPR acknowledged policy shifts in the fifteen years following Order No. 679, which codified an approach to evaluate requests for incentives made by transmission owners and operators, as well as Order No. 1000 and the 2012 Policy Statement on transmission incentives applications. Namely, the NOPR proposed to: offer public utilities an return on equity (ROE) incenti
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At the Federal Energy Regulatory Commission (“FERC” or “Commission”), President Joseph Biden selected Richard Glick, one of two Democratic commissioners on the five person commission, as Chairman. The Chair sets FERC’s agenda, so even without a tie-breaker vote or a majority of Democratic Commissioners (the situation until one of the Republican Commissioners departs), Chairman Glick will have significant influence over FERC policy for 2021. As is most relevant for
Sustainability Bulletin readers, FERC covered a lot of ground on renewables issues in 2020 and we expect more of the same for 2021. Chairman Glick’s dissents in 2019 and 2020 provide a roadmap for what we may see from FERC on renewables issues in 2021 and beyond. Below, we highlight a few material FERC renewables developments in 2020 and look ahead to possible developments in FERC’s approach when similar issues queue up before FERC in 2021