On February 23, 2024, the Federal Energy Regulatory Commission (FERC) issued an order approving an application for market-based rate (MBR) authority to VESI 12 LLC. However, the language in this MBR approval was not...more
More investors in public utilities may now be considered affiliates, thereby significantly increasing compliance obligations and transactions subject to prior FERC approval. On October 20, 2022, the Federal Energy...more
The Federal Energy Regulatory Commission (“FERC”) recently ruled that an investor is deemed an affiliate of a public utility if the investor has a seat on the public utility’s board of directors. This rule indicates...more
The Federal Energy Regulatory Commission (Commission) issued an order on September 22, 2022, informing sellers with market-based rate (MBR) authorization that have not complied with Order No. 860’s requirements to submit data...more
The voluntary carbon credit market is a market-based approach to controlling greenhouse gas (GHG) emissions. Individuals, companies or governments can purchase credits, often referred to as "carbon credits", to mitigate or...more
Greenhouse gas emissions reduction or removal credit transactions allow governments, companies or individuals to purchase credits that are often referred to as "carbon credits" in an effort to mitigate climate change by...more
Electric - E-1 – Incentives for Advanced Cybersecurity Investment, Cybersecurity Incentives (Docket No. RM22-19-000 & RM21-3-000). On December 17, 2022, in Docket No. RM21-3-000, the Commission issued a Notice of Proposed...more
FERC recently issued a notice of extension of time further extending, by three months, the compliance dates for FERC’s new market-based rate (MBR) relationship database filing requirements under Order No. 860. This extension...more
Five years and six interested parties meetings later, California is finally ready to proceed with the formal rulemaking process to adopt substantial amendments to its market-based sourcing rules. At the Franchise Tax Board’s...more
The 'Taskforce on Scaling Voluntary Carbon Markets' (the "Taskforce") is a private sector initiative working to scale an effective and efficient voluntary carbon credit market to help meet the goals of the Paris Agreement. ...more
Starting this fall, the Federal Energy Regulatory Commission (FERC) will implement new rules affecting wholesale electricity sellers that have obtained (or will obtain) market-based rate (MBR) authority from the Commission....more
FERC issued a Notice Seeking Comments on March 18 on its proposal to collect additional data from market-based rate (MBR) Sellers whose ultimate upstream affiliate(s) own their voting securities under a Federal Power Act...more
Of interest to entities who hold, or might seek, authorization from the Federal Energy Regulatory Commission (FERC or the “Commission”) to engage in sales for resale of electric energy, capacity or ancillary services at...more
On January 15th, the Department of Justice announced it has ended its two-year review of the 80-year old consent decrees that govern the operation of the largest music performing rights organizations in the United States:...more
The 'Taskforce on Scaling Voluntary Carbon Markets' (the "Taskforce") published a blueprint for a voluntary greenhouse gas or carbon market in its 10 November 2020 Consultation Document. The Taskforce's Consultation Document...more
In light of a recent IRS Private Letter Ruling addressing public utility property and loss disallowance rules, here are six key items to be aware of today in tax equity transactions for renewable energy projects owned by...more
Ohio Commercial Activity Tax – Ohio Supreme Court applies market-based sourcing and grants taxpayer refund by situsing intangible revenue to purchaser’s physical locations. Situsing gross receipts often becomes a...more
In recent decisions, the Delaware Court of Chancery continued to follow the Delaware Supreme Court’s mandate from Aruba, Dell and DFC to rely on market-based metrics, when available, to determine fair value in appraisal...more
Earlier this week, EPA announced grants for the development of market-based programs to address water quality problems in the Great Lakes, as part of the Great Lakes Restoration Initiative. I’ve spent more than a little time...more
The IMO and the Price of Gas or The Impact of the International Maritime Organisation’s Sulphur 2020 Limit for Marine Fuel Oil on the Price of Gas - The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with...more
The Federal Energy Regulatory Commission (FERC or Commission) on July 18 issued a rule, initially proposed in July 2016, restructuring the way it collects certain data for market-based rate (MBR) purposes and significantly...more
On July 18, 2019, the Federal Energy Regulatory Commission (“FERC”) issued two orders modifying its rules for sellers to obtain or retain authorization to make sales at market-based rates. First, Order No. 861 modifies the...more
The New York State Tax Appeals Tribunal held that a taxpayer was required, for years before 2015, to apportion its receipts based on the location of the work that generated its receipts, and not based on the location of its...more
The California Independent System Operator (CAISO) is accepting stakeholder comments until August 13, 2019 on its new Hybrid Resources Issue Paper, kicking off a stakeholder initiative expected to proceed until April 2020....more