Our December 2022 Power Generation & Supply Market Recap is a snapshot of the data and information we curate. We share industry drivers, notable projects, recent mergers and acquisitions, interesting reads, and updates on upcoming meetings and conferences.
To learn more about how we are helping power and coal ash industry leaders find new opportunities in their market of interest, schedule a market opportunity workshop.
Industry Drivers
Our data team tracks new and updated industry drivers. Here are some recent drivers we have been following this month:
Airborne Wind Energy Research and Development Act
Status: Proposed
Organization: House of Representatives
Summary: On December 6, 2022, the House of Representatives Committee on Science, Space, and Technology introduced the Airborne Wind Energy Research and Development Act. The Act would establish a research program at the Department of Energy (DOE) to harness the advantages, design, and impacts of airborne wind energy generation.
Click Here for More Information
Clean Hydrogen and Fuel Cell Research, Development, and Demonstration Act of 2022
Status: Proposed
Organization: House of Representatives
Summary: On December 6, 2022, the House of Representatives introduced the Clean Hydrogen and Fuel Cell Research, Development, and Demonstration Act. The Act authorizes the Department of Energy (DOE) to improve its Research and Development (R&D) of clean hydrogen and fuel cell technologies. The Act establishes Hydrogen Innovation Center at DOE to focus on fundamental R&D activities and improves the stationary fuels cells technology to achieve more than 80,000 hours of durability. In addition, the Act supports R&D to enhance the use of hydrogen and hydrogen blends in producing cement, fertilizer, iron, steel, chemicals, and energy-dense fuels.
Click Here for More Information
NJBPU Establishes Competitive Grid Scale Solar Program
Status: Proposed
Organization: New Jersey Board of Public Utilities (NJBPU)
Summary: On December 7, 2022, the New Jersey Board of Public Utilities (NJBPU) established the Competitive Solar Incentive (CSI), which focused on lowering taxpayer costs and incentivizing at least 300 megawatts (MW) of solar annually through 2026. The CSI primarily aims to cover all large solar projects, comprising grid supply projects, non-metered, and non-residential projects greater than 5 MW. The program has five tranches to ensure that a range of solar projects can participate despite having different cost profiles. The first solicitation is expected to occur in early 2023, with the bid deadline being March 31, 2022.
Click Here for More Information
California’s PUC Decision on Revising Net Energy Metering Tariff and Subtariffs
Status: Proposed
Organization: California Public Utilities Commission (CPUC)
Summary: On December 15, 2022, the California Public Utilities Commission (CPUC) adopted the decision revising the net metering solar tariffs and subtariffs. The approved decision provides retail export compensation aligned with the value behind-the-meter solar energy systems offered to the grid and import rates that encourage solar systems paired with energy storage. According to the CPUC, the average resident installing a solar energy system will save $100 per month, while customers who install solar systems paired with energy storage will save $136 per month in their electricity bills, leading to a 75% drop in monthly electricity bills.
Click Here for More Information
Notable Projects
FirmoGraphs tracks notable projects from the proposal stage to becoming effective. Here are some of the recent notable projects we have been tracking.
$1 Billion Larrabee Tri-Collector Project
Type: Power Transmission
Status: Proposed
Organization: FirstEnergy, Corp, Jersey Central Power & Light Co., and Mid-Atlantic Offshore Development
Region: New Jersey
Summary: FirstEnergy, Corp, Jersey Central Power & Light Co., and Mid-Atlantic Offshore Development proposed to construct and operate the Larrabee Tri-Collector Project in New Jersey. The Project is a 92.1-mile off-shore transmission line that will provide wind farms with a shared connection point to the mainland. The Project is estimated to have $1 billion worth of investment.
Contact FirmoGraphs to See the Document
$431.2 Million Four Corners Solar Center
Type: Solar - Generation
Status: Proposed
Organization: Four Corners Solar Center LLC
Region: New Jersey
Summary: On September 27, 2021, Four Corners Solar Center, LLC, submitted filings to the Federal Energy Regulatory Commission for the Four Corners Solar Center on 3,500 acres in New Mexico. The Project is a ground-mounted solar facility with 400 megawatts (MW) capacity. The construction started in November 2021 and is expected to begin commercial operation by September 2024. According to Power Technology, the Project will cost $431.2 million.
Contact FirmoGraphs to See the Document
$350 Million Allegheny Energy Center
Type: Power Generation
Status: Proposed
Organization: Allegheny Energy Center LLC
Region: Pennsylvania
Summary: On November 9, 2022, Allegheny Energy Center, LLC, submitted filings to the Federal Energy Regulatory Commission for the Allegheny Energy Center Project in Elizabeth Township, Allegheny County, Pennsylvania. The Project is a natural gas-fired power plant with 639 megawatts (MW) capacity utilizing one gas turbine and one steam turbine. According to Power Technology, the construction started in January 2022 and is expected to enter commercial operation in 2024, costing $350 million.
Contact FirmoGraphs to See the Document
$247.5 Million Arriba Wind Generation Project
Type: Power Generation
Status: Proposed
Organization: Allegheny Energy Center, LLC
Region: Colorado
Summary: On November 11, 2022, Nereo GC Lincoln, LLC, submitted filings to the Federal Energy Regulatory Commission for the proposed Arriba Wind Generation Project in Kit Carson County, Colorado. The Project is an onshore wind facility with 150 megawatts (MW) that could be expanded to 200 MW. It comprises 82 wind turbines rated at 2.82 MW and eight wind turbines rated at 2.52 MW. The construction will commence on May 1, 2023, and is expected to be completed on December 31, 2023. According to Power Technology, the Project will cost $247.5 million.
Contact FirmoGraphs to See the Document
Notable M&A
The following M&A transactions in the Power Generation and Supply Industry stand out in the month of December:
-
On December 1, 2022, Summit Midstream Partners, LP announced that its wholly owned subsidiary, Summit Midstream Holdings, LLC, closed on the DJ Basin acquisitions of Outrigger DJ Midstream LLC, Sterling Energy Investments LLC, Grasslands Energy Marketing LLC, and Centennial Water Pipelines LLC (collectively, Sterling DJ) for about $305 million in cash.
-
On December 15, 2022, Kimbell Royalty Partners, LP, announced that it has closed purchase of mineral and royalty interests held by Austin-based Hatch Royalty,LLC, in a transaction valued at $270.7 million.
What We Are Reading
Here are some recent articles our team has been reading:
- Duke Energy greenlights sale of $4B commercial renewable energy unit amid ‘robust’ interest
- PacifiCorp interconnection plan for retiring power plants sparks anti-competitive concerns at FERC
- Texas lawmakers ask state agency to delay power market redesign until after 2023 legislative session
- Sale jumpstarts floating, offshore wind power in US waters
- AES Indiana announces plan to more than quadruple renewable energy capacity by 2042
- New Jersey's Last Operating Coal Fired Power Plant Imploded
- First offshore wind power sites auctioned off California's coast. One day it could power 1.5M homes.
- Five companies win California offshore wind energy leases
- Green Rock Energy Partners Acquires Pennsylvania Renewable Natural Gas Production Facility
- BLM advances 1 GW of solar in Arizona, sees potential for 31 GW of clean energy on Western public lands
- Stellantis Partners With DTE Energy to Add 400 Megawatts of New Solar Projects in Michigan Through DTE's MIGreenPower Program
- NV Energy Selects Energy Vault for 440 MWh Energy Storage System in Nevada
- Power companies rush to install batteries in Texas, California, amid concern over grid reliability
- Ocean Winds awarded 2 GW floating offshore wind project in California
- Jack-up Jill starts New York's offshore wind story with first work in state's waters
- Q3 U.S. Grid-Scale Energy Storage Market Sets Record
- Meta Partners with Silicon Ranch for Seven New Solar Projects in Georgia and Tennessee
- Dominion Energy’s proposed offshore wind farm hits key regulatory milestone
- Biden-Harris Administration Announces $45 Million From Bipartisan Infrastructure Law to Support Resilient and Efficient Building Energy Codes
- DOE to offer $750M to spur hydrogen electrolyzer, fuel cell development
- S&P: Third-quarter wind installations fall to 501 MW, lowest Q3 since 2015
- Looming retirement of nearly one-third of aging LG&E and KU generation fleet underlies push for new approvals
- U.S. Department of Energy Top Accomplishments in 2022
- Charlie Baker announces $180 million investment in offshore wind infrastructure
Meeting Planner
In this over-digitized age, there is no replacement for face-to-face meetings with your prospects and customers! We track meetings of interest to our customers serving the US power generation and supply industry so you won’t miss upcoming meetings and deadlines. Also, FirmoGraphs has recently implemented a free-of-charge service for tracking notable infrastructure events.
Meetings in January and February 2023
- IEEE - PES Innovative Smart Grid Technologies Conference North America: Moving to a Self Driving Grid - Jan. 16 - Jan. 19, 2023
- EC Utility Data Analytics Forum - Jan. 24 - Jan. 25, 2023
- EC Coal Ash And CCR Management - Jan. 25 - Jan. 26, 2023
- EC EV Charging Infrastructure West - Jan. 25 - Jan. 26, 2023
- ACAA Winter Membership Meeting - Jan. 31 - Feb. 1, 2023
Early Bird Registration
- Event: AESP Annual Conference & Expo
Dates: Feb. 27 - Mar. 2, 2023
Deadline for Early Registration: Jan. 20, 2023