Last week’s article discussed New York’s Zero-Emissions Credit (ZEC) for nuclear power. The ZEC is one component of New York’s Clean Energy Standard (CES). The other major component of the CES is the new Renewable Energy Standard (RES). In the
Energy Business Law
Insights for the Global Energy Industry
The Energy Business Law blog, published by McDermott Will & Emery, covers legal and regulatory developments affecting the energy sector, including renewable energy investments, energy market regulations, and environmental compliance. It addresses topics such as energy private equity trends, capacity market rules, carbon capture tax credits, and environmental liability risks for energy companies. The blog also explores the intersection of energy law with ESG investing, sustainability initiatives, and government policies impacting energy markets. It provides insights into structuring energy transactions, navigating federal and state regulations, and managing risks related to energy projects and investments.
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NY Creates New Emissions Credit for Nuclear Plants
The New York Public Service Commission’s (PSC) Clean Energy Standard (CES), adopted in August, includes a new emissions credit—the ZEC. The ZEC, or zero-emissions credit, is the first emissions credit created exclusively for nuclear power.
The ZEC is the result…
CaliforniaFirst PACE Program Finances Clean Energy Projects for Commercial Property
Property assessed clean energy (PACE) programs are an innovative mechanism for financing energy efficiency and renewable energy improvements on private property. They also present a number of challenges to investors—for one, the variance between different programs (even within a particular…
Clean Air Act Permit Challenges — New Rules On the Way
In the United States, the federal Clean Air Act (CAA) requires all “major sources” of air pollution, such as power plants, refineries and other large industrial facilities, to obtain permits detailing the conditions under which those sources are allowed to…
Massachusetts Legislation Spurs Offshore Wind Power Development
On August 8, 2016, Massachusetts Governor Charlie Baker signed into law a major energy bill aimed at putting Massachusetts at the forefront of states developing offshore wind power. The law, An Act Relative to Energy Diversity (H. 4568), requires Massachusetts…
New Climate Change Guidance for NEPA Reviews
In the United States, federal agencies that license, permit or finance energy and infrastructure projects must, with some limited exceptions, analyze the environmental impacts of those projects before they approve them, pursuant to the National Environmental Policy Act of 1969…
EPA Raises Statutory Civil Monetary Penalty Amounts
On July 1, 2016, the US Environmental Protection Agency (EPA) issued an interim final rule that modifies statutory civil monetary penalty amounts for statutes administered by the agency. EPA’s interim final rule, which becomes effective on August 1, 2016, implements…
Transmission Planning and Construction Right of First Refusal Ruled Unduly Discriminatory, Not Mobile-Sierra Protected
The provision contained in incumbent electric utility tariffs—conferring on the holder the right of first refusal (ROFR) to construct additions to the high-voltage electrical grid, regardless of who conceived of and proposed the addition—is unduly discriminatory, the U.S. Circuit Court…
Energy Tax Extenders in FAA Bill Unlikely
As discussed in our post on April 7, US Congress extended the Production Tax Credit (PTC) under Internal Revenue Code (IRC) Section 45 and the Investment Tax Credit (ITC) under IRC Section 48 in December 2015, but failed to include…
IRS Revises Recent Begin Construction Guidance
On May 18, 2016, the Internal Revenue Service (IRS) revised Notice 2016-31 (Notice), its recent guidance on meeting the beginning of construction requirements for wind and other qualified facilities (including biomass, geothermal, landfill gas, trash, hydropower, and marine and hydrokinetic…