FERC asked to address datacenter demand; Woodside to acquire Tellurian for $900M

TOP NEWS IN ENERGY & UTILITIES

– Two leaders on the House Energy and Commerce Committee have asked the Federal Energy Regulatory Commission to detail what it is doing to assess the challenges posed by demand growth from datacenters and industrial sectors and how this new demand will impact capacity prices.

– Australia's Woodside has agreed to acquire LNG developer Tellurian Inc., including its Driftwood LNG project in Louisiana, for $900 million in cash.

➤ European utility bosses to assess elections fallout in Q2 earnings season

European utility executives will likely use the second-quarter earnings season to digest the impact of key elections in the UK and France and to look ahead to another major vote in the US — all of which could prove to be critical for the energy transition.

➤ Global power demand set for 4% annual gains in 2024, 2025 – report

Global electricity demand is expected to grow at a rate of 4% each year in 2024 and 2025, with solar photovoltaic alone expected to meet half of the increase, the International Energy Agency said July 19.

➤ US EPA, green groups raise doubts over draft review for Ridgeline gas pipe

The US Environmental Protection Agency pressed FERC to dive into greater detail on the emissions impacts of East Tennessee Natural Gas LLC's 300 MMcf/d Ridgeline gas pipeline expansion project. The commission's environmental review also drew extensive objections from conservation groups opposed to the Tennessee Valley Authority's further development of gas-fired generation.

UTILITIES & POWER

– Federal agencies in charge of energy infrastructure reviews need to adopt new technologies and better coordinate with each other to speed up reviews under the National Environmental Policy Act, the White House Council on Environmental Quality said in a July 17 report to Congress.

– American Electric Power Co. Inc. and Exelon Corp. are maintaining that Talen Energy Corp.'s pending application to deliver 480 MW of colocated load to an Amazon.com Inc. datacenter requires the Pennsylvania nuclear plant providing the power to incur system charges from PJM Interconnection LLC.

– The Court of Appeals for the District of Columbia Circuit denied a stay of the EPA's updated pollution standards for power plants, The Hill in Washington, DC, reported.

– The Ohio Board of Tax Appeals denied a bid by New Richmond Development Corp. to lower the $13 million valuation of a retired coal-fired plant that Duke Energy Corp. once owned, according to Bloomberg Tax.

– PacifiCorp is being suspected of colluding with three law firms to lowball settlements with wildfire victims in Oregon, Reuters reported.

– The Massachusetts Department of Environmental Protection ruled against Holtec International Inc.'s plan to discharge treated nuclear wastewater from the former Pilgrim Nuclear Power Station into Cape Cod Bay, according to WBUR.

– The New Jersey Department of Environmental Protection has decided to grant a permit for a $180 million gas-fired backup power project, the Associated Press reported.

RENEWABLES & CLIMATE

– California residents are increasingly pairing solar and energy storage resources since the state transitioned from net energy metering to net billing in April 2023 in an effort to reduce costs and encourage consumers to use battery storage.

– Illinois Gov. J.B. Pritzker enacted a package of carbon capture and storage regulations on July 18 that places a moratorium of up to two years on CO₂ pipeline construction, a pause that may be cut short if the federal government revises its safety regulations.

– SunPower Corp. shares plummeted 40% on July 18 after the solar company told dealers it was suspending new leasing, power purchase agreements, shipments and installations.

– Environmental groups are petitioning for the EPA to reassume oversight of Georgia's coal ash program from state regulators, The Atlanta Journal-Constitution reported.

– Elected for a second five-year term as president of the European Commission, Ursula von der Leyen pledged to retain focus on Europe's clean industrial transition despite facing a parliament with more skeptics. Her policy vision entails further investments in energy-intensive sectors.

– Consultancy Cornwall Insight expects the UK to miss its clean power targets, finding a "substantial" gap between the country's current trajectory and its 2030 goals, the Financial Times reported.

NATURAL GAS

– Black Bayou Gas Storage LLC pitched a salt dome natural gas storage facility near the Texas-Louisiana border along with two looping 27-mile pipelines linking the facility to interstate pipelines.

– South Bow Corp., the liquids pipeline business that TC Energy Corp. plans to spin off, is preparing to sell up to C$7.9 billion of debt in the coming months, Bloomberg News reported, citing people familiar with the matter.

– Companies, mostly registered in the United Arab Emirates and with suspected Russian links, have been snapping up LNG vessels over the past year, according to FT.

OIL

– The US Federal Trade Commission is looking into text messages from major oil company executives for evidence of collusion with OPEC officials on oil market dynamics, Bloomberg News reported.

– Colombia's Ecopetrol SA is in discussions to acquire a 30% stake in CrownRock LP from Occidental Petroleum Corp. in a deal possibly worth $3.6 billion, according to Reuters.

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