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Washington Examiner: FERC Order Doesn't Doom Renewables One Company Says

Posted by Josh Siegel & Abby Smith on Jan 31, 2020

Washington Examiner covered a Competitive Power Ventures's official perspective of FERC's proposed pricing rule, quoting AEE's Jeff Dennis. Read excerpts below and the entire Washington Examiner piece here. 

A competitive power company developing renewable energy projects is insisting it won’t be forced to shift away from wind and solar because of FERC’s recent move to boost fossil fuels.

“We are very bullish on renewables,” said Tom Rumsey, senior vice president of external and regulatory affairs for Competitive Power Ventures. “Renewables aren’t dead,” he told Josh. 

Competitive Power Ventures, based in suburban Maryland, mostly has natural gas in its portfolio. However as the price of renewables have fallen, the company has plans to develop a 150 megawatt solar project within PJM, the nation’s largest power market subject to FERC’s proposed “MOPR” order...

Jeff Dennis, managing director and general counsel of Advanced Energy Economy, an association representing clean energy companies, agrees competitive power companies will continue to build renewables because it’s the cheapest resource to build. But he says excluding renewables from the capacity market, even if it's a small revenue source, will “scuttle” some planned projects. Democratic FERC Commissioner Richard Glick has estimated that the order will impact 38 gigawatts of new renewable facilities in the pipeline.

Don’t call it a comeback? The higher payments to fossil fuel plants, Dennis said, will encourage companies to build more gas, undermining state policies to combat climate change. “It will allow gas and coal on the margins to come back,” Dennis told Josh, “potentially putting them back in the money. Those are the very resources states through their lawful authority over their resource mix are seeking to replace...”

Read the entire Washington Examiner piece here. 

Topics: AEE In The News