Speaking Energy

March 26, 2024 is the deadline for comments on a Notice of Inquiry issued by the Federal Energy Regulatory Commission ("FERC" or "Commission") at the end of 2023 on whether the Commission should modify its policies respecting the availability of blanket authorizations under Section 203(a)(2) of the Federal Power Act ("FPA"), including its evaluation of whether an investor has the ability to control a utility.

On July 5, 2023, the U.S. Department of Energy (DOE) Office of Clean Energy Development (OCED) announced a Request for Information to inform the DOE’s efforts to design a demand-side support mechanism for its Regional Clean Hydrogen Hubs Program (H2Hubs). Information obtained through this process will support a future Broad Agency Announcement (BAA) entitled “Implementing Entity (or Entities) for Demand-side Support Mechanism for Clean Hydrogen Hub Projects” that the DOE expects to issue later this summer/early fall. The DOE ultimately intends to commit up to $1 billion to fund entities implementing a demand-side support mechanism to “facilitate bankable clean hydrogen demand” for the H2Hubs to “enable private sector financing and expedite progress to Final Investment Decision for H2Hubs.” This follows the $6-7 billion commitment the DOE initially announced in 2022 for the H2Hubs.

We are pleased to share a recording of Akin Gump’s mid-year energy briefing that recently took place, along with the presentation materials.

Last week at the Hart Energy Transition Capital Conference, Houston partner Matt Kapinos, leader of Akin Gump’s project finance & development team, moderated a panel titled “Naturally: Renewable Natural Gas.” The panel focused on the importance of renewable natural gas in reducing emissions, advancing towards a net-zero carbon emissions world and facilitating the energy transition. The panel also discussed the unique relationship between traditional energy companies and other capital providers focused on the energy transition. For more information on Akin Gump’s experience in renewable natural gas and the energy transition, please visit our project finance & development page.

Akin Gump Strauss Hauer & Feld LLP partner Daniel Lynch will be presenting a live video webinar with Strafford titled, "Renewable Energy M&A: Deal Structures, Key Issues, and Diligence Considerations", to discuss complex issues involving transaction structure, due diligence in identifying and allocating risks, and valuation and balancing upside/risks between buyers and sellers. The webinar is approved for CLE and will take place Tuesday, June 7, 2022, from 1:00pm – 2:30pm EDT.

Please click here to register.

This week the White House Council on Environmental Quality (CEQ) released “Carbon Capture Utilization and Sequestration Guidance” requesting comments by March 18, 2022. The guidance was also announced in a White House statement titled “Fact Sheet: Biden-Harris Administration Advances Cleaner Industrial Sector to Reduce Admissions and Reinvigorate American Manufacturing.” The interim guidance is designed “to facilitate efficient, orderly and responsible deployment of CCUS.” It provides federal agencies with a framework for regulation and permitting of carbon capture, utilization and sequestration (CCUS) activities in the United States and further reiterates the Biden-Harris Administration’s commitment to increasing support for CCUS research, development, demonstration and deployment (RDD&D); enhancing the Section 45Q tax incentive; and ensuring that CCUS technologies are informed by community perspectives and are consistent with the Administration's climate, public health, and economic goals.

With the conclusion of the 2021 United Nations Climate Change Conference (COP26), we consider the agreement reached on Article 6 and the implications for Singapore. The implementation of Article 6 is seen as critical in Singapore’s efforts to establish itself as a center for carbon trading.

In this article, we review the highlights of the COP26 United Nations Climate Change Conference so far and consider the implications for carbon markets in the context of Singapore. The application of Article 6 of the Paris Agreement is one of the key issues being debated at COP26, and agreement on its terms is seen as crucial to the development of the global carbon market.