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Under the Federal Power Act (FPA), the US Federal Energy Regulatory Commission (“FERC” or “Commission”) licenses and regulates over 1,600 hydroelectric project dams, diversions, and related hydropower facilities. At FERC’s last formal meeting during the Trump administration, FERC opened a Notice of Inquiry (NOI)
1 to determine whether to impose financial assurance requirements on hydropower licensees and, if so, what those financial assurance requirements should be.
FERC hydropower licensing seldom involves any financial assurance component. While the FPA contains provisions that could arguably permit FERC to require hydropower licensees and license applicants to demonstrate their solvency, and to fund operational and potentially project decommissioning expenses upon license expiration or termination, the NOI acknowledges that the actual adoption of such requirements is “rare.” When financial assurance requ
Bidenâs energy and pipeline regulator pick will drive green transition By Stephen Cunningham and Naureen S. Malik on 1/22/2021
(Bloomberg) Richard Glick, one of two Democrats on the U.S. Federal Energy Regulatory Commission, has been tapped by President Joe Biden to lead the agency set to play a pivotal role in the presidentâs goal to achieve a 100% clean grid by 2035.
Glick, who formerly worked for utility giants Iberdrola and PacifiCorp., was widely seen as Bidenâs obvious choice to lead FERC, which is responsible for approving natural gas infrastructure and overseeing electricity markets.
âThis is an important moment to make significant progress on the transition to a clean energy future,â Glick said in a statement on Twitter announcing Bidenâs intention to nominate him as FERC chairman.â
by Bloomberg
|Thursday, January 21, 2021
Oil ended a choppy session lower with worsening global coronavirus outbreaks accentuating concerns over a demand rebound.
(Bloomberg) Oil ended a choppy session lower with worsening global coronavirus outbreaks accentuating concerns over a demand rebound.
Futures closed 0.3% lower in New York on Thursday. The U.S. dollar declined for a fourth straight session, boosting the appeal of commodities priced in the currency and providing support to prices that had fallen as much as 1.1% during the session. Meanwhile, JPMorgan Chase & Co. cut demand estimates for China as lockdowns spread, and in the U.S., a vaccine supply shortage has led New York City to reschedule more than 20,000 appointments.
Oil Slips With Global Viral Resurgence Highlighting Demand Risks
Bloomberg 1/21/2021 Andres Guerra Luz and Alex Longley
(Bloomberg) Oil ended a choppy session lower with worsening global coronavirus outbreaks accentuating concerns over a demand rebound.
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Futures closed 0.3% lower in New York on Thursday. The U.S. dollar declined for a fourth straight session, boosting the appeal of commodities priced in the currency and providing support to prices that had fallen as much as 1.1% during the session. Meanwhile, JPMorgan Chase & Co. cut demand estimates for China as lockdowns spread, and in the U.S., a vaccine supply shortage has led New York City to reschedule more than 20,000 appointments.