Speaking Energy

On June 18, 2026, the Federal Energy Regulatory Commission (FERC or the Commission) issued an order to the California Independent System Operator Corporation (CAISO) directing CAISO and CAISO transmission owners to show cause as to why CAISO’s tariff should not be found to be unjust and unreasonable (California Indep. Sys. Operator Corp., 195 FERC ¶ 61,214 (2026) (the Order)) because it fails to sufficiently:

On June 18, 2026, the Federal Energy Regulatory Commission (FERC or the Commission) issued an order to New York Independent System Operator, Inc. (NYISO) directing NYISO and NYISO transmission owners to show cause as to why NYISO’s tariff should not be found to be unjust and unreasonable (New York Independent System Operator, Inc., 195 FERC ¶ 61,216 (2026) (Order)) because it fails to sufficiently:

On June 18, 2026, the Federal Energy Regulatory Commission (FERC or the Commission) issued an order to Midcontinent Independent System Operator, Inc. (MISO) directing MISO and MISO transmission owners to show cause as to why MISO’s tariff should not be found to be unjust and unreasonable (Midcontinent Independent System Operator, Inc., 195 FERC ¶ 61,212 (2026) (Order)) because it fails to sufficiently:

On June 18, 2026, the Federal Energy Regulatory Commission (FERC or the Commission) issued an order to PJM Interconnection, L.L.C. directing PJM and PJM transmission owners to show cause as to why PJM’s tariff should not be found to be unjust and unreasonable (PJM Interconnection, L.L.C., 195 FERC ¶ 61,211 (2026) (the Order)) because it fails to sufficiently:

On June 18, 2026, the Federal Energy Regulatory Commission (FERC or the Commission) issued an order to Southwest Power Pool, Inc. (SPP) directing SPP and SPP transmission owners to show cause as to why SPP’s tariff should not be unjust and unreasonable (Southwest Power Pool, Inc., 195 FERC ¶ 61,213 (2026) (Order)) because it fails to sufficiently:

On June 18, 2026, the Federal Energy Regulatory Commission (FERC or the Commission) issued show cause orders under section 206 of the Federal Power Act to PJM Interconnection, L.L.C. (PJM), Midcontinent Independent System Operator, Inc. (MISO), Southwest Power Pool, Inc. (SPP), California Independent System Operator Corporation (CAISO), ISO New England Inc. (ISO-NE) and New York Independent System Operator, Inc. (NYISO), together with their transmission owners, directing each region to justify or reform the tariff provisions governing how data centers and other large loads connect to and receive service from the transmission grid. The orders are part of FERC’s broader response to rapidly increasing electricity demand, particularly from data centers and other large loads, and advance the objectives of the Secretary of Energy’s October 2025 Advance Notice of Proposed Rulemaking (ANOPR) by seeking to accelerate “speed to power” while preserving grid reliability, affordability and consumer protections. 

On April 15, 2026, the Federal Energy Regulatory Commission (FERC or the Commission) issued one of the largest enforcement penalty orders in its history, finding that American Efficient, LLC (American Efficient) and its affiliates engaged in a decade‑long fraudulent scheme involving offering energy efficiency resources (EERs) over which they had no contractual authority into the PJM Interconnection, L.L.C. (PJM) and Midcontinent Independent System Operator, Inc. (MISO) capacity markets.¹

Federal energy regulators are assuming expanded roles as the administration prioritizes energy dominance and infrastructure development to meet unprecedented power demand. FERC Chairman Laura Swett has vowed to expedite data center interconnections while addressing jurisdictional challenges, warning that unmet electricity demand could drive data centers abroad and create national security risks. The agency is processing pipeline applications faster than in prior years and considering blanket authorizations for certain LNG and hydroelectric projects to streamline approvals. 

Pipeline projects previously stalled by Clean Water Act permits are being revitalized, particularly in northeastern states where historically high electricity prices have increased openness to natural gas infrastructure. The Department of Energy is expanding its emergency authority to require retention of generation resources and has granted major LNG export approvals, signaling commitment to expanding U.S. export capacity under a streamlined framework that deprioritizes climate considerations.  

The Administration is bullish on the opportunities for the U.S. energy industry in Venezuela and eager to support companies willing to navigate the political risk inherent in the operations at the moment. Early meetings with President Trump and industry leaders showed the path forward may be longer and more complex than anticipated by the President. 

As permitting reforms advance and the pendulum swings toward fossil fuel favorability, the regulatory and policy landscape is fundamentally reshaping energy infrastructure development timelines and investment opportunities. 

Oil & Gas in 2026: Energy Policy & Regulation 

Delve into the complete regulatory & policy outlook at our Oil & Gas in 2026 report.

The global energy sector enters 2026 amid major policy shifts, geopolitical tension and evolving market dynamics. The Trump administration’s reversal of Biden-era climate initiatives and renewed emphasis on domestic production have reshaped the policy landscape, offering a more favorable regulatory environment even as conflicts abroad, oil price volatility and shifting trade policies tempered deal activity through 2025.