Enron's Lessons
Are regulators managing market manipulation?
Some will stray from ethical behavior. But markets must be regulated to maintain confidence.
Energy Policy & Legislation
Market Manipulation: Staying a Step Ahead
Law, compliance, and case management – plus the blurred boundary between FERC and CFTC.
In the aftermath of 2000-2001 energy crisis, Congress provided federal regulators more authority to crack down on fraud. To do so, FERC must show that the actor possessed the requisite state of mind and establish a connection between the alleged manipulative action and an interstate transportation or sale for resale of natural gas or electricity.
EPA, NERC and Reliability
Expect more analysis – more scenarios, more detail – as state compliance plans become better known.
As things stand today, even without the Clean Power Plan, we expect to see the retirement of more than 6 percent of North America’s generation capacity by 2030.
Splitting the Difference on Coal Ash
Industry wins exemption for ‘beneficial use’ but faces tighter rules on impoundments and landfills.
The EPA only has limited authority to implement and enforce a Subtitle D nonhazardous waste rule, like the coal combustion residuals rule. As a result, EPA had to promulgate the standards as “minimum federal criteria” that states are encouraged to adopt as part of their Subtitle D programs (but EPA cannot actually require states to adopt or implement these requirements.) Nonetheless, the new minimum criteria do indeed serve as legal standards that an owner or operator of a coal combustion residuals disposal unit must meet.
Rethinking Regulation
Not so Fast: Why the Electric Industry May be Heading in the Wrong Direction
Utility regulation will often display the power of special interests, which may only appeal to a narrow set of interests. Public officials need to step and serve the broader public.
Radical Candor
Making ‘Clean Coal’ More than an Oxymoron.
Are clean coal efforts likely to fail? Yes. Does that mean investing is foolish? No. Here are eight ways I think the industry should change its clean coal messaging if it wants to win over the people who matter most.
Commenting on Carbon
State PUCs take on EPA and its Clean Power Plan.
Everything about the Clean Power Plan seems surreal. States complain of unfair treatment. Regulators read the proposed rule and sound warnings of a coming apocalypse.
Early Clean Power Planning
A hedging strategy for sec. 111(d).
While the public comment period on EPA’s Clean Power Plan proposed rule has closed, there are still opportunities to engage in the federal policymaking process before the summer 2015 release of the final rule.
PJM's Three-Way Proposal
A re-defined capacity product, revised parameters for generator performance, and a new role for demand response.
The proposal creates a new capacity product called the “Capacity Performance Resource.”
Playing Safe with Capacity Markets
PJM would minimize risk, but so did regulation.
Changes envisioned by PJM call for ever more structured markets, further reducing the scope of the competitive landscape from which RTOs arose. They may produce a system that is actually more costly and less innovative than regulation.