Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

In this list
Electric Power | Energy Transition

FEATURE: Details slow to emerge for New York climate law set to upend power sector

Commodities | Energy | Electric Power | Renewables | Natural Gas

Hydrogen: Beyond the Hype

Electric Power

Platts Forward Curves – Gas and Power

Electric Power | Renewables | LNG | Infrastructure Utilities

Caribbean Energy Conference, 21st

Petrochemicals

FACTBOX: Petrochemical restart efforts continue post-freeze

Electric Power | Renewables | LNG | Natural Gas

Fuel for Thought: For green hydrogen to catch up with blue, it's a long ride in India

FEATURE: Details slow to emerge for New York climate law set to upend power sector

Highlights

Uncertain path to 2040 emissions-free power

Final DEC regulations in 2024

9 GW of offshore wind by 2035

New York — The New York Climate Leadership and Community Protection Act's renewable energy and other targets are among the most rigorous of any major economy in the world, according to Governor Andrew Cuomo's office, but uncertainty remains regarding how those targets will be met.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

With important milestones coming due, the drastic redesign of the state's power system envisioned within the law will start taking shape over the coming months.

The agreement will help New York lead the way in developing the largest source of offshore wind power in the nation as part of the most aggressive climate law in the US, Cuomo said when he signed the legislation in 2019.

The CLCPA mandates an economy-wide 85% greenhouse gas emissions reduction from 1990 levels by 2050, 100% zero-emission electricity by 2040, 70% renewable electricity by 2030, 9,000 MW of offshore wind capacity by 2035, 3,000 MW of energy storage capacity by 2030, 6,000 MW of solar power capacity by 2025 and a carbon emissions reduction of 22 million tons through energy efficiency and electrification.

Despite the excitement over signing the aggressive legislation, the law itself is a framework that outlines the state's desired goals and creates a host of committees and working groups to develop the regulatory and other mechanisms that will achieve the goals.

"The New York Public Service Commission already has a program in place to achieve the '70x30' goal through Clean Energy Standard Tier 1 to Tier 4 procurements, but what's unclear is how the power sector is expected to provide that last 30% of energy with zero-emissions beyond 2040," Matthew Schwall, director of market policy and regulatory affairs at merchant power generator trade group Independent Power Producers of New York, said in a Feb. 23 email.

For example, the New York State Climate Action Council is a 22-member committee that will prepare a scoping plan to achieve the state's clean energy and climate agenda. It is co-chaired by Doreen Harris, acting president and CEO of the New York State Energy Research and Development Authority, and Basil Seggos, commissioner of the New York State Department of Environmental Conservation.

The membership consists of 10 representatives from state agencies and 10 representatives from academia, trade organizations and environmental groups. There are six advisory panels focused on topics from power generation to climate justice that are hosting public meetings throughout 2021 to provide recommendations to the Council for consideration as it develops the scoping plan.

Timeline and milestones

The Climate Action Council in 2021 is developing the draft scoping plan with input from the lower committees, while the the DEC and NYSERDA develop a GHG emission limit rulemaking and value of carbon guidance. The agencies will also develop renewable energy programs for meeting the 70% renewable electricity by 2030 target.

The Climate Action Council is due to issue its draft scoping plan by Jan. 1, 2022, which is one of the more important deadlines because the plan will then be discussed and debated throughout the year during a series of public hearings.

Some key things to watch along the way include a June 30, 2021 deadline for the New York Public Service Commission to establish a program for achieving the "70 by 30" renewable energy goal and a zero-emissions power sector by 2040.

"It's clear from state-sponsored and independent studies that some form of dispatchable, quick start and long duration generation will be needed, but it's not clear what fuel and/or technology complies with the 2040 requirement," Schwall said. "This latter question is the biggest issue we need resolved."

A Democrat, Cuomo is also up for re-election in 2022, which could inject additional uncertainty into CLCPA implementation depending on the election results.

On Jan. 1, 2023, the Climate Action Council must adopt the final scoping plan and submit it to the governor and legislative leaders, having taken into account public feedback, Schwall said.

The recommendations will then be included in the next State Energy Plan, with which state agencies must comply. The Climate Action Council will update the scoping plan at least once every four years.

Additional CLCPA details will ultimately emerge in 2024 when the DEC releases regulations based on the scoping plan.

S&P Global Platts LNG Virtual Conference | March 25, 2021

The S&P Global Platts LNG Virtual Conference is gathering the industry to discuss navigation of the global pandemic and the associated risks, the ongoing transition of the global energy economy, policy implications of the 2020 US election and more.

Find out more