Get That Money. PG&E has filed a normal request with a strange twist at the CPUC. It is asking for a raise for its shareholder return, which is typical, but it’s asking for a raise of over 50% to 16% from 10.25%. Shockingly, and coincidentally, SCE and SDG&E also asked for massive increases to the ROE. I’m still taken aback by the unprecedented ask and can’t help but wonder what legislators are thinking, especially if they’re thinking if there is a better way. The CCAs around the State and utility execs in other States must be in shock by the ask as well, what could possibly warrant a high double digit return for shareholders of a monopoly? What would regulators say if solar came to the table and said we want guaranteed revenue streams at the same ROE as utility shareholders?
In Awe Of the Flaw. Energy Twitter went bananas yesterday for a report from the University of Chicago. The report that is on the way to be peer reviewed has a big headline, RPS policies are very expensive climate policies that are far more costly than carbon taxes. Without going into the details and analysis methodology, do expect more of this report to be discussed and rebutted in the media. I bet that the anti renewables folks will be using this unfortunately to make the case against solar and wind.
But Wait, There’s More. When solar isn’t breaking records or wind is causing negative energy rates, they are causing massive savings to the system. In the latest Duke procurement, the generation will save consumers $375million over the 20 years. I’ll take facts over headlines any day I guess.
Nevada Steps Up. It didn’t take long, Governor Sisolak has signed the 50% RPS, 100% carbon free bill that passed the Legislature. This is the month of 100% clean energy policies, maybe Florida will follow right behind?
- Los Angeles Times: Edison asks for bigger profits, says bills would rise $14.40 a month for the average home
- Axios: Renewable energy mandates are costly climate policies
- Utility Dive: Duke solar procurement taps 602 MW with first projects from 2017 North Carolina renewables law
- Las Vegas Sun: Sisolak inks bill that dramatically raises state’s clean energy standard
- Vox: Fox News has united the right against the Green New Deal. The left remains divided.
- Greentech Media: Verizon Hints at Big Renewables Purchases as It Pledges to Go Carbon-Neutral
- GreenBiz: Earth Day – Just another day at the office
Opinion
Have a great day!
Yann