In the news today…
- Bloomberg reports that the potential for a flood of US renewable projects driven by new tax incentives is at risk of breaking the power markets by pushing electricity prices to negative levels, according to Wells Fargo.
- Utility Dive reports that FERC is overseeing settlement talks to resolve PJM Winter Storm Elliot complaints amid $1.8 billion in charges. The agency will try to help settle 13 complaints from Calpine, Energy Harbor, Invenergy, LS Power and other companies seeking to overturn fines against them for not performing during the winter storm.
- Governing.com and Delaware Valley Journal report the retirement of fossil fuel electricity production and the lack of reliable renewables to replace it are putting America’s grid at risk.
- Wall Street Journal reports Wall Street is betting a labor shortage across the U.S. mining industry will drive up prices for the array of metals needed for the transition away from fossil fuels.
- E&E Greenwire reports the Biden administration on Tuesday revoked a key wetlands permit for a controversial copper and nickel mine in northeastern Minnesota after concluding that the project didn’t comply with a downstream tribe’s water quality standards.
- E&E Daily reports House Republicans from Western mining states are poised to unveil legislation Thursday aimed at designating copper as a “critical” mineral, part of a broader, bipartisan effort that’s run into objections from some tribes and environmental groups.
- Washington Post reports in a rare example of a bipartisan climate policy, momentum is growing on Capitol Hill for a plan to tax imports from China and other countries with looser environmental standards.