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In This List

PJM order may fuel state mistrust; US fracking ban proposals 'catastrophic'

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PJM order may fuel state mistrust; US fracking ban proposals 'catastrophic'

Top News

Glick: PJM capacity market order could stoke further state mistrust of FERC

An order by the Federal Energy Regulatory Commission aimed at fixing the PJM Interconnection's capacity market will likely sow further mistrust among states that were already concerned by the agency's approach toward accommodating state-level clean energy policies, according to Democratic Commissioner Richard Glick.

SEC to propose that resource extraction issuers disclose government payments

The U.S. Securities and Exchange Commission voted to propose rules requiring resource extraction issuers to disclose payments made to a foreign or the U.S. government pertaining to commercial oil, natural gas and mineral development.

US Chamber of Commerce projects 'catastrophic' impact of proposed fracking ban

A total ban of hydraulic fracturing in the U.S. would have "catastrophic" consequences for the economy, the U.S. Chamber of Commerce's Global Energy Institute said in a report released Dec. 19.

US weekly coal production down 18.4% YOY

Total U.S. coal production for the week ended Dec. 14 fell 18.4% year over year to 12.7 million tons from 15.6 million tons, according to data from the U.S. Energy Information Administration.

Quoted

"Never before has a major energy-consuming nation also become a top global exporter of total energy — usually it's the other way around," American Petroleum Institute Chief Economist Dean Foreman said as the U.S. became a net total energy exporter for the first time in almost 60 years despite ongoing trade tensions.

Power

* If established as the "new normal," California's unprecedented precautionary blackouts to prevent power lines from sparking further devastating wildfires pose enormous risks for the nation's largest state economy, top U.S. lawmakers and climate experts cautioned.

* FERC denied a complaint filed by PJM's independent market monitor that sought to require the grid operator to find that Tenaska Power Services Co. violated its own fuel cost policy and assess a related penalty.

* El Paso Electric Co. announced plans to add hundreds of megawatts of solar and natural gas-fired generation resources across New Mexico and Texas, as well as develop its first-ever utility-scale battery storage resources as part of a strategy to meet peak energy demand for the 2022-2023 summer season and replace "older, less efficient gas-fired generation."

* An official with the North American Electric Reliability Corp. said the quasi-governmental organization considers climate change-related risks in nearly every aspect of its role.

* U.S. senators demanded explanation of the power shutdowns during fall 2019 from PG&E Corp. CEO Bill Johnson in a hearing on Capitol Hill, The Associated Press reported.

* Power generation from renewable resources in the U.K. reached 28.8 TW in the third quarter, CNBC reported, citing data compiled by the Department for Business, Energy and Industrial Strategy.

* Germany plans to issue its first green bonds in 2020 to take advantage of strong investor sentiment around sustainable finance, Reuters reported.

Natural gas

* FERC granted Dominion Energy Transmission Inc. authorization to build the 150,000-Dth/d West Loop pipeline project, which will ship regional shale gas supplies to a new gas-fired combined-cycle power generation facility in eastern Ohio.

* Adoption of new natural gas technologies for home heating could significantly reduce greenhouse gas emissions from the residential sector, according to a study commissioned by the American Gas Association.

* Renewable natural gas use across multiple sectors could play a material role in curbing greenhouse gas emissions, according to a recent study the American Gas Foundation released.

* FERC approved interstate natural gas pipeline replacement projects proposed by Texas Eastern Transmission LP and Southern Star Central Gas Pipeline Inc.

* Imports of LNG in Europe reached a new monthly record of 12.7 Bcf/d in November, according to U.S. Energy Information Administration estimates based on Bloomberg Finance LP tanker shipment data.

Oil

* Oilfield services provider Apergy Corp. will merge with the upstream energy business of specialty chemical company Ecolab Inc. subsidiary Nalco Champion LLC.

* Alberta's top court has put off ruling on a sweeping federal carbon tax on emissions from consumer goods, including motor fuel and natural gas for home heating, the Canadian Press reported.

* Royal Dutch Shell PLC expects post-tax impairment charges in the range of $1.7 billion to $2.3 billion in the fourth quarter of 2019. The company also expects oil production to be between 2.775 million and 2.825 million barrels per day.

* BP PLC is shipping an offshore oil platform to the Gulf of Mexico, 200 miles off the coast of New Orleans, Houston Chronicle reported. It will operate in roughly 4,500 feet of water.

* Crude-by-rail shipments in Alberta are expected to rise by 100,000 barrels per day in December as the government eases production limits for oil transport by rail, Bloomberg News reported.

Coal

* Total U.S. coal rail traffic for the week ended Dec. 14 fell 20.6% year over year to 72,320 carloads, according to data from the Association of American Railroads.

* Russia plugged in a 70-MW nuclear power plant installed on a barge, the Akademik Lomonosov, off the coast of far eastern Russia, Forbes reported. The unit is expected to replace the Bilibino coal-fired power plant, which is scheduled to shut down in 2019.

ChartWatch

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More than 330 GW of utility-scale wind and solar generation capacity is expected to come online across North America through 2029, but plans for new transmission have hit a slump and are not keeping pace with that expected influx, the North American Electric Reliability Corp. warned Dec. 19.

New from RRA

* The California Public Utilities Commission voted Dec. 19 to approve 2020 ratemaking cost of capital parameters for the state's largest energy utilities, keeping returns on equity unchanged rather than increasing them to account for wildfire equity risk premiums requested by some utilities.

* A Maryland Public Service Commission order for Columbia Gas of Maryland Inc. authorizes the company a 1.7% or an estimated $950,401 natural gas distribution base rate increase, versus the $3.8 million, or 7.7%, increase supported by the company.

The day ahead

* Baker-Hughes Rig Count report is due out today.

* Early morning futures indicators pointed to a lower 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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Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

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