Up & Atom

The Commissioners of the Nuclear Regulatory Commission (NRC) and Federal Energy Regulatory Commission (FERC) conducted a biennial joint meeting on January 25, 2024. The biennial meetings allow the Commissioners to hear presentations from industry experts, learn about the challenges facing the energy industry, and determine how the commissions can assist each other based on their respective regulatory authorities.

Our energy lawyers discussed the recent Federal Energy Regulatory Commission (FERC) and North American Electric Reliability Corp. (NERC) report on Winter Storm Uri power outages, which outlined a series of recommendations, in the LawFlash FERC/NERC Report on Winter Storm URI Recommends Enhanced Cold Weather Preparation.

The Consolidated Appropriations Act, 2021, signed into law on December 27, includes the Energy Act of 2020 (Energy Act) and the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Taxpayer Act), which contains tax provisions important to the energy sector.

FERC and NERC issued a joint notice on Wednesday providing compliance flexibility on certain key reliability standard requirements during the ongoing coronavirus (COVID-19) pandemic. Although this guidance can allow utilities to avoid findings of noncompliance for certain requirements where timely compliance activities could be difficult due to personnel shortages and other limitations, this is not a blanket waiver. Instead, utilities must provide written notices of their intent to use this guidance. The content of those notices must be drafted carefully as they will be necessary to demonstrate compliance in future reviews.

The New Jersey Board of Public Utilities (BPU) approved applications submitted by PSEG Nuclear LLC seeking subsidies of up to $300 million annually, in the form of zero emission credits (ZECs), for PSEG’s Hope Creek and Salem 1 and 2 nuclear generating stations on April 18.