On February 2, 2022, the European Commission adopted a Complementary Climate Delegated Act (the “CCDA”) listing specific gas and nuclear activities as “environmentally sustainable” for purposes of the EU Taxonomy Regulation, subject to strict criteria. Only certain activities that comply with strict emissions limits and other criteria detailed below may be so designated. Even so, the Commission’s decision to list nuclear and gas activities as “environmentally sustainable” is controversial and may still be blocked by EU Member States and the European Parliament through an upcoming scrutiny period, and may also be legally challenged before the EU Courts. Nevertheless there is a significant chance that the Commission’s criteria to consider the listed gas and nuclear activities as “environmentally sustainable” will enter into force by the beginning of 2023. This would allow such listed gas and nuclear activities to have access to green investors and ear-marked public funds under the EU’s Next Generation EU investment program.
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Nuclear
Nuclear Power – Can Advanced Technology Make this Baseload Power Source be the Lowest Cost, Low Carbon Solution?
This is the fourteenth in our series, “The ABCs of the AJP.”
President Biden’s American Jobs Plan (“AJP”) seeks to assist the development of advanced nuclear power generation as part of a more general goal of developing advanced energy technologies. The AJP states that doing so will help the United States achieve 100 percent carbon-free electricity by 2035 and net-zero emissions by 2050.
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Transforming the Nation’s Electricity System: Survivable Elements of Obama’s Policy Roadmap for the Trump Administration
Official publications of the Trump campaign and transition team propose significant changes in energy policies. The principal focus of the proposed policy changes addresses energy independence and job creation through greater production of fossil fuel resources. But apart from pronouncements to “scrap … the Clean Power Plan” there is little to glean from the official publications regarding the incoming administration’s plans to address the much needed transformation of the Nation’s electricity system.
Additional insights about potential Trump administration policies affecting the electric power sector can be gleaned from assorted comments by the President-elect and transition team officials. Since the election, they have signaled possible policy initiatives to scrutinize wind energy subsidies and bird kill impacts, promote nuclear energy and lift restrictions on “clean coal”. But these hints at policy direction, coupled with an intention to move away from the Clean Power Plan, still leave the electric power industry awash in uncertainty regarding future federal policies to modernize and increase the efficiency, resiliency and security of the Nation’s power grid.
Meanwhile the corporate sector continues to demand federal policies to promote American prosperity through clean energy transformation and is focused on locating business operations in states that facilitate corporate procurement of clean energy. Independent of clean energy and climate change considerations, the leading trade association of the electric utility industry is highly focused on grid modernization through efforts to redesign and transform the use and operation of the grid to integrate distributed energy resources, replace distribution lines and deploy new technologies and systems that will enhance reliability, resiliency and efficiency.
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Red Light For Indian Companies Doing Business With Iran
In the wake of the April 2, 2015 announcement that the P5+1 countries (the United States, the United Kingdom, France, Russia, China, and Germany), together with the European Union had reached agreement with Iran on the parameters of a deal in which Iran would curtail its nuclear program in exchange for sanctions relief from the United States and the EU, the Indian government reportedly has moved swiftly to expand trade ties with and boost investment in Iran. On May 6, for example, India entered into a new memorandum of understanding with Iran to develop the Chabahar Port in southeast Iran. India also sent a trade delegation to Iran in April to discuss oil imports and investments in the energy sector, including the development of Iran’s Farzad-B gas field. India has significant energy needs that increased reliance on Iranian oil and gas could help satisfy, and India’s development of the Chabahar Port could help facilitate transit to Afghanistan and Central Asia that bypasses Pakistan.
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