CORE Electric Cooperative Asserts its Right to Withdraw from Comanche Unit 3
Posted on Sep 8, 2022 in Publications | Comments Off on CORE Electric Cooperative Asserts its Right to Withdraw from Comanche Unit 3
CORE Electric Cooperative has asserted its right to withdraw from partial ownership of the Comanche Unit 3 power plant by written notice to Public Service Company of Colorado, a subsidiary of Xcel Energy, Inc.
DEMCO Launches Dispute Over Coal Plant Overages
Posted on Sep 6, 2022 in Publications | Comments Off on DEMCO Launches Dispute Over Coal Plant Overages
DEMCO is launching a legal fight against its power provider, Cleco, over $30 million in purportedly excessive costs from overpriced electricity generated at the shuttered Dolet Hills Power Station in northwest Louisiana.
Inflation Reduction Act of 2022 – Signed into law: A summary of the energy tax provisions
Posted on Aug 16, 2022 in Publications | Comments Off on Inflation Reduction Act of 2022 – Signed into law: A summary of the energy tax provisions
The Inflation Reduction Act of 2022 (the Act) was signed into law on August 16, 2022, and includes about $370 billon for American energy security and climate change. Those changes include very substantial extensions, expansions and modifications of the tax credits for renewable and alternative energy development. In one of the best-kept secrets in Washington, Senators Manchin and...
Inflation Reduction Act targets carried interests
Posted on Jul 30, 2022 in Publications | Comments Off on Inflation Reduction Act targets carried interests
On July 27, US Senators Joe Manchin and Chuck Schumer announced proposed legislation referred to as the Inflation Reduction Act of 2022 (the Act). The proposed legislation includes changes that would expand the scope of IRC section 1061, which generally imposes limits on tax benefits available to carried interests and other compensatory partnership interest arrangements. By way of...
A welcome clean energy surprise: Inflation Reduction Act includes energy tax extensions and expansions
Posted on Jul 29, 2022 in Publications | Comments Off on A welcome clean energy surprise: Inflation Reduction Act includes energy tax extensions and expansions
In a surprising turn of events, late on July 27, 2022, Senators Manchin (D-WV) and Schumer (D-NY) released the Inflation Reduction Act of 2022. The Act, which runs 725 pages, includes numerous energy tax provisions aimed at enhancing US energy security. Tax pay-fors in the bill include a corporate minimum tax and an increase in the tax rate on carried interest. A summary of the bill...
President Biden to announce executive climate actions; Does not declare national emergency
Posted on Jul 20, 2022 in Publications | Comments Off on President Biden to announce executive climate actions; Does not declare national emergency
On July 20, 2022, President Biden delivered an address on climate change. Despite heavy pressure by many in Congress and environmental groups to announce new executive actions to address climate change, and even to potentially go as far as declaring a national emergency, the President instead stated only that specific actions would be announced in the coming days and weeks. The...
Green Tax, Volume 2
Posted on Jul 19, 2022 in Publications | Comments Off on Green Tax, Volume 2
Welcome to Green Tax, Vol. 2. Each quarter we will provide a recap of some of the important energy tax issues of the last quarter, including court rulings, IRS rulings and guidance, legislative activity, and more. Opinions and Rulings Collateral Estoppel Closes Door on Fuel Credit CaseOn June 8, the Fifth Circuit issued its opinion in ETC Sunoco Holdings LLC v. United States, No....
Courts uphold wholesale power contracts among electric cooperatives
Posted on Apr 14, 2022 in Publications | Comments Off on Courts uphold wholesale power contracts among electric cooperatives
Courts in South Carolina and South Dakota have recently recognized the validity of term provisions in wholesale power contracts between generation and transmission cooperatives and their member distribution cooperatives. In late 2020, two distribution cooperatives—Dakota Energy Cooperative, Inc. and Marlboro Electric Cooperative, Inc.—each sued their generation and transmission...
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