PJM Limits Renewable Energy Resource Capacity Values for Allocation of Capacity Interconnection Rights
On April 7, 2023, the U.S. Federal Energy Regulatory Commission (FERC) issued an Order Accepting Tariff Revisions Subject to Condition (183 FERC ¶ 61,009) approving a PJM Interconnection LLC (PJM) proposal to limit the power capacity values of wind, solar, and hybrid resources within PJM’s recently adopted grid reliability framework.
IRS Proposed Rule on Revived Superfund Chemical Taxes
On March 29, 2023, the U.S. Internal Revenue Service (IRS) published a Proposed Rule to amend the Environmental Tax Regulations, 25 C.F.R. part 52, specifically those provisions governing the chemical excise taxes used to fund the Hazardous Substance Response Trust Fund established pursuant to the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA)—known as the Superfund Chemical Tax. Because this is the first time the tax will be applied in over 25 years, its effects may not be well understood by affected industry taxpayers, and the IRS’s Proposed Rule offers critical guidance. Companies engaged in the manufacturing, import, or sale of taxable chemicals should evaluate the Proposed Rule and consider submitting comments by the May 30, 2023, deadline.
U.S. House Passes GOP Energy Bill
On Thursday, March 30, 2023, the U.S. House of Representatives passed HR 1, the Lower Energy Costs Act. The bill — the GOP’s energy policy and permitting bill — passed by a vote of 225 to 204, with four Democrats joining Republicans in voting to pass the bill and one Republican legislator voting against it.
U.S. Bureau of Land Management Proposes Rule Promoting Conservation on Federal Land
On April 3, 2023, the Bureau of Land Management (BLM) published a proposed rule in the Federal Register that would put conservation of U.S. managed lands on an equal footing with oil and gas development and other economic activities (the Proposed Rule). Stakeholders interested in development on federal lands should consider carefully the implications of BLM’s proposal.
