In November of 2017, the Alliance for Transportation Electrification (ATE) was formed. The alliance is made up of utilities, international affiliates, automotive firms, electric vehicle (EV) infrastructure firms, and engineering/consulting firms. This coalition advocates for the rapid adoption of electric transportation through educating and promoting its benefits. The Alliance hopes for effective stakeholder collaboration and mutually beneficial industry growth.
In July 2017, North Carolina Governor Roy Cooper signed House Bill 589 with provisions to develop more than 3,200 MW of solar energy in the state. The bill also included an 18-month moratorium on wind farm permits to assess the impact of interference wind turbines could have on military operations.
On December 21, 2017, the Georgia Public Service Commission (PSC) voted unanimously to approve Georgia Power’s request to proceed with the construction of Plant Vogtle Units 3 and 4 in Waynesboro, GA. The decision, originally schedule for February 2018, was moved to December so Georgia Power could take advantage of current tax provisions if the commission decided to not approve the company’s plans to proceed.
On behalf of the Edison Electric Institute, ScottMadden prepared a white paper reviewing the “Two-step” Discounted Cash Flow (DCF) model to set allowed Returns on Equity (ROE) for electric transmission investments, as adopted by the Federal Energy Regulatory Commission in Opinion No. 531. Despite the Commission’s goals of providing adequate returns to encourage transmission investment, the DCF approach used by the Commission tends to produce ROE estimates below other widely accepted alternative models and market indicators. The paper therefore recommends modifications to address some of the concerns with the Commission’s DCF approach.
The P2P process is the combination of two enterprise business process segments that are often managed by different business areas. ScottMadden has found it helpful to think in terms of upstream processes—the world of sourcing and purchasing—and downstream processes—the world of accounts payable. Through countless hours of hard work, leading companies have pushed through a wide range of improvements which have paid off. But it has not always been an easy trek.
This report uncovers key questions to help you optimize your P2P process and find long-term value: What does a successful P2P framework look like? What are the key benefits? How do you get there? What are the main pain points? How can you address them to become more integrated? Where do you stack-up against your peers on the maturity continuum?
In April 2017, General Electric completed the world’s first hybrid battery-gas turbine system for Southern California Edison. The demand for grid flexibility requires quicker response times by traditional gas generation entities. Natural gas-storage hybrid systems are slowly starting to appear in the market to fill this void.
PSEG CEO, Ralph Izzo, has told members of the New Jersey legislature that the Salem and Hope Creek nuclear plants will be shut down unless they receive financial support. Speaking to the state Senate Environment and Energy Committee and the Assembly Telecommunications and Utilities Committee, citing data from a study PSEG commissioned from the Brattle Group, Izzo said that as current hedging contracts expire, current market pricing will erode plant profits and force the closure of the plants. The announcement sparked immediate outcry from the PJM Independent Market Monitor (IMM), the New Jersey chapter of the American Petroleum Institute, and opponents of nuclear subsidies.
The world is growing more decentralized, in large part due to the transformative power of the internet.
On November 8, 2017, Rhode Island energy agencies submitted to Governor Raimondo a report which outlined recommendations for transforming the state’s electrical grid and utility business models. The report, “Rhode Island Power Sector Transformation,” is the latest development in a proceeding initiated by Governor Raimondo in April in which she challenged the state’s energy agencies to consider three broad questions related to the future of the state’s electric grid:
The 2017 Atlantic hurricane season officially began July 1. By then, three named systems had already become storms, foreshadowing what became one of the most active and destructive storm seasons ever. Subsequently, five named storms and one tropical depression formed by July 31, but the associated damage by then was minimal, attracting little notice. However, by season’s end:
ScottMadden presented at the EEI Fall Accounting Conference to share our key highlights related to:
Formed in 1977 in response to the 1973 oil crisis, the Federal Energy Regulatory Commission (FERC) oversees the transmission and wholesale sale of electricity and natural gas and regulates the transportation of oil by pipeline in interstate commerce. FERC also reviews proposals to build interstate natural gas pipelines, natural gas storage projects, and liquefied natural gas (LNG) terminals, in addition to licensing non-federal hydropower projects. As of November 15, 2017, FERC is at full capacity with five commissioners. The U.S. Senate has approved the final two commissioners which will help with the backlog of permit decisions and in reviewing the plan offered by Rick Perry, the Secretary of the Department of Energy (DOE), for evaluating aging coal and nuclear plants.
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