FERC Gives NYISO the Heisman on its Renewables Plan
- Sep 30, 2020 12:45 pm GMT
FERC rejects NYISO plan to integrate in-state renewables; PG&E shuts power to 170,000 in fire season; Italy's top bank goes negative on coal; Greece follows suit, and so does S. Korea; Nissan hits 1/2 million Leafs; Nikola in a heap of trouble
1) FERC rejects NYISO's proposed changes to capacity market in order to integrate renewables necessary for 70% clean energy goals by 2030. Echoes of PJM's MOPR just begging for state-level insurrection;
2) In Calipocalypse, PG&E began preemptive power shut-offs 9/7 and restored on 9/10, affecting nearly 172,000;
3) Italy's top bank UniCredit limits exposure to coal investments, going to zero by 2028;
4) Greece to spend nearly $6 billion to facilitate shutting of coal plants by 2028. Replacements to include 2.3 GW of solar;
5) S. Korea to close 30 coal power plants by 2034, w/10 by 2022, and rest by 2034. They'll triple solar & wind and bump EVs from 110,000 to 1.3 million;
6) Nissan's 500,000th LEAF rolled off UK production line last week;
7)Nikola & GM announced strategic partnership w/Nikola to use GMs Ultium battery system and Hydrotec fuel cell technology. Two days later, massive fraud allegations threaten entire deal.
I highly recommend reading this very insightful and practical paper from ESIG on Capacity Accreditation. This information needs to inform every capacity market redesign initiative.
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