On Oct. 19, 2023, the Department of Energy began accepting applications for all categories of the Low-Income Communities Bonus Credit Program for small-scale wind and solar projects. Read on for further details about the submission portal and the tax credit program.
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IRS Refreshes and Codifies Energy Property Tax Credit Guidance in Proposed Section 48 Regulations
On Nov. 17, the IRS and Treasury Department released long-awaited proposed regulations for the Section 48 investment tax credit. Representing the first update to these regulations since 1987, they provide instructions reflecting new statutes under the Inflation Reduction Act of 2022, incorporate previous legislative changes and formally adopt administrative guidance the energy market has used…
First Court of Appeals Dismisses Winter Uri Claims Against Wholesale Power Generators
In February 2021, Winter Storm Uri hit Texas, resulting in severe electricity blackouts throughout the state. Commercial and industrial as well as residential retail customers across Texas sued hundreds of entities involved in the Texas electricity market for damages sustained due to the resulting electrical outages, including wholesale power generators. On Dec. 14, 2023, the…
Texas Supreme Court Hears Oral Argument in Major Winter Storm Uri Case
On Sept. 29, 2023, the Supreme Court of Texas announced it would review a lower court’s reversal of two winter storm Uri orders by the Public Utility Commission of Texas (PUCT), which date back to 2021. On Jan. 30, 2024, the Texas Supreme Court held oral arguments to determine if the PUCT had authority to…
McGuireWoods Oil & Gas Year in Review 2023
McGuireWoods’ multidisciplinary oil and gas sector team published legal insights for companies operating in the oil and gas industry. This “Oil & Gas Year in Review 2023” summarizes key developments and practice points over the past year, from pivotal court decisions to proactive guidance for corporate counsel, investors and project stakeholders.…
FERC Proposes Overhauling Electronic Quarterly Report Filing Process and Data Submission
On Oct. 19, the Federal Energy Regulatory Commission issued a notice of proposed rulemaking to modify filing processes for electronic quarterly reports and revise and eliminate a number of data fields and definitions. Read on for an overview of the proposed changes and implications for EQR filers.
Winter Storm Uri Power Dispute Reaches the Supreme Court of Texas
On Sept. 29, the Supreme Court of Texas announced it will review a lower court’s reversal of two winter storm Uri orders in 2021 by the Public Utility Commission of Texas that raised power prices in the Electric Reliability Council of Texas, impacting countless companies and consumers. Read on to learn more about the latest…
FERC Implements Generator Interconnection Process Reforms: Compliance Filings Due December 2023
On September 6, 2023, the Federal Register published the Federal Energy Regulatory Commission’s (FERC) Order No. 2023, ‘Improvements to Generator Interconnection Procedures and Agreements,’ a 1,000+ page Final Rule adopting reforms to generator interconnection procedures and amending the pro forma Large Generator Interconnection Procedures (LGIP), the pro forma Large Generator Interconnection Agreement (LGIA), the…
IRS Proposes Prevailing Wage and Apprenticeship Regulations
On Aug. 29, the U.S. Department of the Treasury and the IRS proposed regulations and new guidance regarding the prevailing wage and apprenticeship (PWA) prerequisites associated with eligibility for full-value clean energy tax credits under the Inflation Reduction Act. Read on for an overview of the rules and guidance, which provide more certainty and greater…
PHMSA Announces Proposed Rulemaking Affecting Natural Gas Distribution Systems
On Aug. 24, the U.S. Department of Transportation Pipeline and Hazardous Materials Safety Administration announced the forthcoming publication of proposed rules intended to increase the safety of gas distribution pipelines nationwide. Read on for a brief overview of the proposal, which aims to improve emergency response plans, integrity management plans and operation manuals.