Our February 2023 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.
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Our data team tracks new and updated industry drivers. Here are some recent drivers we have been following this month:
Status: Proposed
Organization: State of New York Legislature
Summary: On February 1, 2023, the New York Governor, proposed enabling the New York Power Authority to finance, develop, construct, own, and operate renewable energy projects. If approved, the governor’s plan, part of the $227 billion budget for the fiscal year 2024, could capitalize on the Inflation Reduction Act (IRA). The plan also provides bill credits to disadvantaged communities. In addition, the plan supports phasing out of electricity production from its peaker power plants by 2035.
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Status: Proposed
Organization: General Assembly of Virginia
Summary: On February 2, 2023, the General Assembly of Virginia passed the SB 1321 Act, giving the State Corporation Commission (SCC) the authority to review the rates utility companies are charging from the end-users. The act states that if the SCC determines that the utility’s existing base rate results in higher revenues than the authorized rate of return, the commission has the right to direct the utility to reduce the base rate.
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Status: Effective
Organization: State of Minnesota Legislature
Summary: On February 2, 2023, the State of Minnesota Legislature approved HF 7 bill, which requires the utilities in the state to generate 100% electricity from renewable sources by 2040. In addition, the bill directs public and other electric utilities to provide 80% and 60% of energy from carbon-free sources by 2030. The target would increase to 90% by 2035 before hitting the 100% mark by 2040.
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Status: Proposed
Organization: State of Alaska Legislature
Summary: On February 4, 2022, the Alaska State Legislature introduced the SB 179 bill, which requires the five electric utilities of the Railbelt to generate a percentage of electricity from renewable sources. The bill set an interim target of producing 20% renewable energy by 2025, 30% by 2030, 55% by 2035, and 80% by 2040. The legislation also includes a $20 per megawatt penalty for generating electricity below clean energy standards. The National Renewable Energy Laboratory (NREL) estimates that implementing the bill will save $500 million annually.
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Status: Proposed
Organization: Department of Energy (DOE)
Summary: On February 10, 2023, the Department of Energy (DOE) proposed new standards for refrigerators and cloth washers. DOE expects that new regulations will save consumers an annual $3.5 billion dollars on their energy and water bills. In addition, the two rules are expected to reduce 233 million metric tons of carbon dioxide over the next three decades, equivalent to the combined emissions of 29 million homes.
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Status: Proposed
Organization: U.S. Department of Commerce’s Economic Development Administration (EDA)
Summary: On February 23, 2023, the U.S. Department of Commerce’s Economic Development Administration (EDA) requested public input on its Recompete Pilot Program. The Program, enacted as a part of the CHIPS and Science Act of 2022, involves investments in afflicted communities across the United States, forming and uniting workers to good jobs and supporting long-term economic development by helping to decrease the high, prime-age employment gap. Congress dedicated $200 million to EDA out of the $1 billion appropriated for the Program in the FY 2023 Omnibus Appropriations Bill. Responses are due by 5 p.m. Eastern Time on March 27, 2023.
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Status: Effective
Organization: California Public Utilities Commission (CPUC)
Summary: On February 23, 2023, the California Public Utilities Commission (CPUC) directed load-serving entities to procure 4,000 megawatts (MW) of Net Qualifying Capacity (NQC) for 2026 and 2027, supplementing the 11,000 MW ordered in 2021. In addition, the CPUC recommended an electric portfolio for California Independent System Operator’s (CAISO) 2023-24 transmission planning process. The portfolio set the target of 30 million metric tons of greenhouse gas (GHG) by 2030 for the CPUC. The portfolio comprises 85 gigawatts (GW) of new resources by 2035. It includes 54,000 MW of renewable energy, including 2,000 MW of geothermal energy, 4,700 offshore wind, 28,000 MW of batteries, 2,000 MW of long-duration storage, and 1,100 MW of demand response. Moreover, the commission also approved four storage contracts for Southern California Edison (SCE) totaling 372 MW.
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Status: Proposed
Organization: Washington Legislature
Summary: On February 27, 2023, the Washington Legislature approved the act related to recycling wind turbine blades in the state. The act directs Washington State University (WSU) to study the cost, feasibility, and environmental impact of disposing of wind turbine blades used for generating electricity. It also includes incentives for installing recycling wind turbine blades within Washington. In addition, the act requires WSU to submit the report of its findings to the Washington Legislature by December 1, 2023.
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FirmoGraphs tracks notable projects from the proposal stage to becoming effective. Here are some of the recent notable projects we have been tracking.
Type: Generation - Wind
Status: Proposed
Organization: Power Company of Wyoming LLC
Region: Wyoming
Summary: Power Company of Wyoming LLC will construct the proposed Chokecherry and Sierra Madre Wind on 320,000 acres in Carbon County, Wyoming. The Project is a wind energy facility with a 3,000-megawatt (MW) capacity utilizing up to 896 wind turbines. The construction started on September 1, 2016, and is expected to be completed in 2026 with an estimated cost of $5 billion.
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Type: Generation - Solar
Status: Proposed
Organization: CG Western Renewables III, LLC
Region: Nevada
Summary: CG Western Renewables III, LLC submitted filings on April 29, 2021, to the Nevada Public Utilities Commission for the Smoky Valley Solar Project, approximately 5,128 acres northwest of Silver Peak in Esmeralda County, Nevada. The Project is a 1,000-megawatt (MW) alternating-current solar generation facility and an associated battery energy storage system. The facility's construction will commence in the third quarter of 2023 and is expected to be completed by the end of 2025, costing $1 billion.
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Type: Transmission
Status: Proposed
Organization: Jefferson Davis Electric Cooperative, Inc
Region: Louisiana
Summary: Jefferson Davis Electric Cooperative, Inc submitted filings on February 01, 2023, to the Louisiana Public Utilities Commission for the Jefferson Davis Electric Cooperative Project in Cameron and Calcasieu Parishes. The Project consists of a 105-mile 230 kilovolts overhead transmission line, including eight distribution substations, two switching stations, and two interconnections. The Project facilities will be of a hardened design to withstand 160 miles per hour (mph) sustained winds, with the line segments constructed with galvanized steel structures. The construction will start on July 01, 2023, and is expected to be completed on September 30, 2023, costing $380 million.
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Type: Gas
Status: Proposed
Organization: New Mexico Gas Company, Inc
Region: New Mexico
Summary: New Mexico Gas Company, Inc submitted filings to the New Mexico Public Utilities Commission for the Rio Puerco Liquefied Natural Gas (LNG) Plant on approximately 25 acres of 160 acres in the outskirts of Rio Rancho. The Project will include a storage tank with the ability to liquefy natural gas directly into LNG from the Company’s system for storage and the ability to vaporize LNG back into natural gas for use in New Mexico Gas Company’s system when needed. The construction will commence on June 21, 2026, and is expected to be completed on March 21, 2027, costing $181 million.
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Type: Generation - Solar
Status: Proposed
Organization: OCI SunRoper LLC
Region: Texas
Summary: OCI SunRoper LLC will construct the proposed OCI SunRoper Solar Project on 2,000 acres 10 miles southeast of the city of Wharton in Wharton County, Texas. The Project is a solar facility with approximately 495,000 panels and associated inverters with a total capacity of 200 megawatts (MW) and 200 MW of Battery Energy Storage System (BESS). The facility's construction will commence on January 1, 2025, and is expected to enter commercial operation in the fourth quarter of 2026, costing $180 million.
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The following M&A transactions in the Power Generation and Supply Industry stand out in the month of February:
Here are some recent articles our team has been reading:
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.
|
Name Organization |
Name Meeting Key |
Date Start |
Date End |
| American Fuel and Petrochemical Manufacturers | AFPM Annual Meeting | 2023-03-19 | 2023-03-21 |
| American Fuel and Petrochemical Manufacturers | AFPM International Petrochemical Conference | 2023-03-26 | 2023-03-28 |
| Energy Central | EC Engineering Excellence In Utility Undergrounding | 2023-03-28 | 2023-03-29 |
| Solar Media Ltd | Energy Storage Summit USA | 2023-03-28 | 2023-03-29 |
| Association of Energy Engineers | AEE West Energy Conference & Expo | 2023-03-29 | 2023-03-30 |
| IEEE Power & Energy Society | IEEE - PES Grid Edge Technologies Conference and Exposition | 2023-04-10 | 2023-04-13 |
| American Fuel and Petrochemical Manufacturers | AFPM Security Conference | 2023-04-13 | 2023-04-14 |
| Edison Electric Institute | EEI Spring Transmission, Distribution, Metering & Mutual Assistance Conference | 2023-04-16 | 2023-04-19 |
| American Fuel and Petrochemical Manufacturers | AFPM National Occupational & Process Safety Conference & Exhibition | 2023-04-17 | 2023-04-19 |