FERC to PJM: Set new capacity market rules addressing state clean energy goals
A divided Federal Energy Regulatory Commission voted Dec. 19 to approve a draft order aimed at countering the price-suppressive effects of state-subsidized clean energy resources in the PJM Interconnection capacity market by expanding a price floor for generators known as the minimum offer price rule. FERC Chairman Neil Chatterjee said the draft order is aimed at maintaining competition in the capacity market, while Commissioner Richard Glick said it actually will do the opposite.
New Mexico aims to curb gas venting, flaring as volumes exceed state demand
New Mexico's oil and gas industry is venting and flaring more natural gas than state residents are consuming. But a draft report published by a state-convened advisory panel found that inconsistent reporting by operators, regulatory loopholes and a lack of coordination between industry players pose challenges to the effort and that the scope of the problem may be larger than officials estimate.
Pipeline spills not a major financial concern for operators, analysis says
Most pipeline spills will damage an oil and gas pipeline operator's reputation, but rarely will they have a real impact on cash flows, according to financial service firm Morningstar. That firm counted just seven spills since 1999 for which costs exceeded $100 million and noted that a "typical" operator will accrue "well under" $10 million in annual costs related to such incidents.
Other energy headlines
* 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. Data from the U.S. Energy Information Administration showed that total U.S. coal production during the same week fell 18.4% year over year to 12.7 million tons from 15.6 million tons.
* A proposal submitted to the New Jersey Board of Public Utilities by Atlantic City Electric Co. would, if implemented, lead to the installation of 245 public electric vehicle chargers owned by the utility across the southern half of the state and would incentivize additional third-party-owned charging stations. The plan expands on the state's efforts to put 330,000 electric vehicles on the road by 2025 and reduce greenhouse gas emissions by 80% below 2006 levels by 2050.
* Norwegian power producer Statkraft AS has taken full control of electric vehicle charging company Grønn Kontakt AS after buying Agder Energi Venture AS' 47.5% stake in the business.
Data collected by the New Mexico Oil Conservation Division shows operators vented or flared 100.3 MMcf/d of natural gas in 2018, exceeding the 94.4 MMcf/d consumed by the state's 592,775 residential customers.
Research and data
* Financial Focus: Md. RPS legislation to drive 6,400 MW of new renewable capacity by 2030
* Financial Focus: Exelon, Southern have among highest net property, plant and equipment growth
* RRA Regulatory Focus: Rate case activity remains robust heading into new year
Top pick of the day
Dominion Energy makes another attempt to expand Marcellus gas transportation
This extra edition of the Daily Dose has an editorial deadline of 1:30 p.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.