Top news
EPA science board says transparency rule restricts use of human health studies
The U.S. Environmental Protection Agency's Science Advisory Board determined that Administrator Scott Pruitt's science transparency rule "would limit the use of science based on human subject data" and was conducted without consultation from the scientific community.
FERC disavows tax policy drama behind pipeline MLP shake-ups
With natural gas pipeline companies citing the burden of proposed federal tax changes in pulling their master limited partnerships off the field of play, the chairman of the Federal Energy Regulatory Commission said it will make its final decision on the tax policy based on law, with no preference for a certain corporate structure.
Sending coal abroad, cash to investors dominates coal earnings calls in Q1
Improved export opportunities and a focus on returning capital to shareholders in lieu of investment in volume growth were at the heart of most U.S. coal companies' conversations with investors in the first quarter.
Power
* Adding more renewable energy sources to the grid could cause wholesale electricity prices to fall between 15% and 39% by 2030, depending on the region, according to a new report from Lawrence Berkeley National Laboratory.
* The Florida Supreme Court upheld a decision by the state Public Service Commission to approve an $881 million rate increase for Florida Power & Light Co. in 2016, The Associated Press reported. The rate increase was challenged by the Sierra Club.
* A bill to amend Rhode Island's Renewable Energy Standard in support of a planned biomass power plant is moving forward, the Providence (R.I.) Journal reported.
* DTE Energy Co. is operating its Fermi 2 nuclear plant at 63% capacity to make additional repairs, the AP reported. The nuclear plant returned to service earlier this May following a series of repairs.
* Avista Corp., which owns a 10.6% stake in the Colstrip coal-fired power plant, is giving $4.5 million to the Colstrip community in Montana to help it transition beyond coal, the Billings (Mont.) Gazette reported.
* FERC once again is set to consider revamping its rules implementing a 40-year-old law aimed at ensuring that small renewable power generators and cogeneration facilities have a reliable means of selling the electricity they produce.
Natural gas/Oil
* Williams Cos. Inc. executives said they opted to roll up the company's master limited partnership in part because they think a fight between the pipeline industry and federal regulators over a recent tax policy change has the potential to drag on for years.
* ConocoPhillips is said to be in talks to acquire some of BP PLC's assets in Alaska in exchange for the sale of its 24% stake in the Clair Ridge project in the North Sea to the London-based oil giant, sources told Bloomberg News.
* Enbridge Inc.'s proposal to roll up its U.S. energy pipeline partnerships as part of a larger simplification bid is a consequence of prolonged valuation declines and American tax changes, company executives said.
* The British Columbia government is planning to file a lawsuit against a proposed law that would allow the Alberta government to curtail fuel shipments to its western neighbor, The Canadian Press reported.
* The Minnesota House passed a bill that allows Enbridge Inc. to build its Line 3 replacement project without the state Public Utilities Commission approval, The Associated Press reported. The bill now heads to Gov. Mark Dayton, who has threatened to veto it.
* Appalachian shale gas driller Rex Energy Corp. plans to seek Chapter 11 bankruptcy protection after posting a loss of $70.4 million in the first quarter and missing interest payments on second-lien loans due in April.
* Range Resources Corp. shareholders approved a proposal that calls on the shale gas driller to file a report on its efforts to reduce methane emissions, the AP reported.
* A group of 60 investors urged oil and natural gas companies to be "more transparent and take responsibility" for all of their emissions, The Financial Times reported. The investors oversee about $10.5 trillion in assets.
Coal
* Opponents of a proposed coal export project in Oakland, Calif., are weighing their legal options after a judge struck down an ordinance that banned transporting the commodity through the city.
* Metallurgical coal markets are likely to remain strong and relatively balanced going forward, but the "new norm" will also be a good bit of pricing volatility, a U.S. coal executive said May 17.
Commodities
* After ending the prior session up 4.4 cents at $2.859/MMBtu, NYMEX June natural gas futures deflated overnight in profit-taking ahead of the Friday, May 18, open. At 7:10 a.m. ET, the contract was 0.2 cent lower at $2.857/MMBtu.
* Power dailies could end the workweek higher Friday, May 18, in line with mostly rising post-weekend demand outlooks. Natural gas will also remain on traders' radars.
* The current La Niña conditions are expected to remain neutral through the fall and have a less-than-50% chance of transitioning to El Niño by the late fall or early winter 2019, according to the National Oceanic and Atmospheric Administration's latest outlook issued in May.

New from RRA
* On May 17, the Pennsylvania Public Utility Commission issued an order requiring certain utilities to implement "negative surcharges" to begin to flow to ratepayers the impacts of federal tax reform, beginning July 1.
* State officials reappointed Commissioner David Jones and appointed John Hie to six-year terms at the Tennessee Public Utility Commission that begin July 1. Hie will replace Commissioner Keith Jordan at the end of his term, which expires June 30.
* Among the noteworthy activities at FERC during the last month, the commission launched a comprehensive review of its 19-year-old policy governing new gas pipeline projects.
Quoted
"We are in a new world. We are in a world where geopolitics are dominating the market again," Total SA Chairman and CEO Patrick Pouyanné said at an event hosted by Washington, D.C.-based think tank The Center for Strategic and International Studies, adding that crude oil prices could rally to $100 per barrel in the next few months amid ongoing geopolitical tensions.
The day ahead
* Early morning futures indicators pointed to a higher opening for the U.S. equity markets. To view more SNL equity market indexes, click here. To view more SNL Energy commodities prices, click here.
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