Latest news with #FederalEnergyRegulatoryCommission
Yahoo
4 days ago
- Business
- Yahoo
FERC approves $16.4B Constellation-Calpine deal
This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. The Federal Energy Regulatory Commission Wednesday approved Constellation Energy's proposal to buy Calpine from Energy Capital Partners in a deal valued at $16.4 billion, subject to conditions aimed at reducing the expanded company's ability to exert market power. With a proposed mitigation plan in place — which includes Constellation selling five power plants in the PJM Interconnection — 'the proposed transaction will not have an adverse effect on competition,' FERC said. An agreement between Constellation and Monitoring Analytics, PJM's market monitor, imposes offer caps in the PJM capacity market on all of the independent power producer's power plants selling into the PJM market through the 2035-36 delivery year, FERC said. Although Constellation agreed not to enter into colocation data center deals until mid-2026 or until FERC issues an order clarifying PJM's rules on the issue, Jefferies equity analysts said Thursday that the company will be free to enter into above-market data center transactions under the approved conditions. In its decision, FERC dismissed arguments from Public Citizen, PennFuture and the Clean Air Council that Constellation could withdraw its nuclear capacity from the market to sell power directly to data centers, saying there was no evidence that would happen. As part of the plan, Constellation will sell four power plants in the PJM Interconnection totaling 3,546 MW. They are the: 1,134-MW gas-fired combined cycle Bethlehem Energy Center; the 569-MW dual-fuel combined cycle York Energy Center Unit 1; the 1,136-MW dual-fuel combined cycle Hay Road Energy Center; and the 707-MW, gas-fired simple cycle Edge Moor Energy Center. In its agreement with PJM's market monitor, Constellation agreed not to sell any of the power plants to Dominion Energy and American Electric Power, which own the most capacity in PJM. FERC rejected concerns raised by the Monitoring Analytics that PJM's capacity market is structurally uncompetitive and that consolidation of power plant owners makes market power problems worse. PJM has rules to mitigate the ability of power plant owners to drive up capacity prices using their market power, FERC said. The U.S. Department of Justice must approve the transaction before it can close, which Constellation expects will happen in the fourth quarter. Under the deal, Constellation will own almost 60 GW of nuclear, natural gas, geothermal, hydro, wind, solar, cogeneration and battery storage. Calpine currently owns 27 GW. Recommended Reading Ratepayer advocates urge FERC to reject proposed Constellation-Calpine deal Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hill
17-07-2025
- Business
- The Hill
Trump nominates new energy regulator to replace Democrat he asked to step down
President Trump on Thursday announced a new nominee to the Federal Energy Regulatory Commission (FERC) to fill the seat of a previous Democratic commissioner who stepped down at the White House's request. Trump nominated David LaCerte, whose LinkedIn lists him as an official with the White House Office of Personnel Management, to the commission. FERC regulates interstate energy transmission, including electricity and pipelines. LaCerte is also listed as a contributor to Project 2025, a controversial conservative plan for how to run the government under a GOP president such as Trump. FERC is an independent agency made up of five commissioners who serve fixed terms. It can have no more than three commissioners of the same political party. It had a 3-2 Democratic majority. However, Commissioner Willie Phillips stepped down in April, saying, 'I heard from the White House, and they expressed their interest that I step aside.'
Axios
15-07-2025
- Business
- Axios
Trump pledges more power to match AI investments in Pennsylvania
President Trump said Tuesday he's speeding up permitting and making it easier for data centers to connect to the electricity grid in announcing $92 billion in AI and energy investments at a Pennsylvania summit. Why it matters: Trump's endorsement of building new power plants — and locating data centers right next to them — reflects the growing thirst for electricity from the energy-intensive facilities. Trump said the U.S. is already winning the artificial intelligence race with China, and that the new investments are crucial to keeping that status. "Today's commitments are ensuring that the future is going to be designed, built and made right here in Pennsylvania and right here in Pittsburgh, and, I have to say, right here in the United States of America," Trump said alongside Pennsylvania Sen. David McCormick. Driving the news: Trump's remarks at an inaugural AI and energy summit in Pittsburgh backed coal, natural gas, nuclear and hydropower plants to feed AI demand. Trump touted $56 billion in investment that he said would feed expanding energy infrastructure in addition to more than $36 billion for new data centers. Blackstone announced at the summit it plans to invest $25 billion in American data centers and energy generation to drive AI innovation. Pennsylvania Gov. Josh Shapiro said he wants to ensure companies follow through on their commitments. "There's a difference between what someone has said in a press release today and when shovels go into the ground in the future … We're going to be working with these companies to hold them to the commitments." Shapiro, a Democrat, told reporters. Between the lines: Both political parties agree that rising energy demand is a national challenge, but energy policy around AI has broken along starkly political lines. Trump and Republican lawmakers have seized on rising energy demand to keep coal and gas plants open while seeking to fast-track new fossil fuel plants. Democrats respond that wind, solar, and batteries are the cheapest and quickest way to add power supply. China is "opening up coal-fired plants all over the place," Trump said Tuesday. "And we're entitled and allowed now to do that, too." Zoom out: Trump said he supports allowing data centers to build their own power plants to get around delays in expanding the aging power grid. "You're going to build your own electric factory, and you're going to make your own electricity," Trump said. "So this way you can have a great plant, and what you'll do is, if you have excess, you can sell it back into the grid." U.S. energy regulators have been weighing arguments that so-called co-location arrangements could raise power prices for other grid customers. The Federal Energy Regulatory Commission has rejected a proposal from Talen Energy to feed Amazon data centers with nuclear energy. Some GOP lawmakers have pressed the commission to allow it. Trump also promised to tackle one of the biggest challenges that both parties have identified: permitting delays. He praised EPA Administrator Lee Zeldin for speeding up the process and approving power plants. Zeldin recently began to seek to repeal rules regulating carbon dioxide emissions and mercury and hazardous air pollutants from power plants. Speaking to Westinghouse officials, Trump said his nuclear regulators "will be very safe, but we're fast and safe. And you're going to get a whole different group of people." The Trump White House is in the midst of a " total and complete reform" of the Nuclear Regulatory Commission and recently fired a Democratic commissioner.
E&E News
11-07-2025
- Business
- E&E News
Court backs FERC decision allowing state review of hydroelectric projects
A federal appeals court on Thursday found California could still review whether a pair of hydroelectric projects in the state comply with its water quality standards during license renewal proceedings. The U.S. Court of Appeals for the District of Columbia Circuit determined the Federal Energy Regulatory Commission was right when it found the California State Water Resources Control Board had not waived its authority under the Clean Water Act to review re-authorizations for the Yuba-Bear and Drum-Spaulding hydroelectric projects. The Nevada Irrigation District, which had applied with FERC to renew its licenses for the two projects, said in its lawsuit that the board had waived certification authority by engaging in a 'coordinated' effort to go beyond the one-year statutory deadline to review the projects. Advertisement But the three-judge panel agreed with FERC that state officials had not coordinated with the project developer to delay the review process for the projects.
Yahoo
10-07-2025
- Business
- Yahoo
There are big opportunities in renewable energy insurance
UK brokers believe renewable energy insurance is the new or emerging insurance product with the second most growth potential. Meanwhile, recent data suggests that renewables account for almost 90% of all new energy generation in the US. According to GlobalData's 2025 UK Commercial Insurance Broker Survey, only cyber insurance (53.6%) was ahead of renewable energy insurance (8.8%) in terms of what UK brokers believe will be the new or emerging product with the most growth potential. As the world increasingly shifts toward sustainable energy sources, demand for specialised insurance products tailored to the unique risks of renewable energy projects—such as operational risks, regulatory changes, and environmental liabilities—is set to rise. Meanwhile, as per data from the US's Federal Energy Regulatory Commission, renewables accounted for almost 90% of all new energy generation in the US during the first nine months of 2024—the majority of which is solar. Globally, including in the UK, renewable energy contributions to electricity grids are increasingly important. From an insurance perspective, this rapid expansion of renewable energy presents significant opportunities for the industry. As the integration of renewables into existing energy systems becomes more critical, there will be an increasing need for specialised insurance products that address the unique risks associated with renewable energy projects. These risks can include operational disruptions, regulatory changes, environmental liabilities, and the complexities of new technologies. Insurers that develop tailored coverage options for renewable energy projects can position themselves as leaders in this emerging market. By understanding the specific challenges faced by solar farms, wind energy producers, and other renewable initiatives, insurance providers can create innovative solutions that not only protect these investments but also encourage further growth in the sector. The significant growth of renewable energy generation not only underscores the urgency of transitioning to sustainable energy sources but also highlights the potential for new business opportunities and insurance solutions that cater to this evolving market. As the global energy landscape continues to shift, stakeholders across the board, including insurers, must adapt to leverage the benefits of this renewable revolution. "There are big opportunities in renewable energy insurance" was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
