RAFFA INTERNATIONAL DEVELOPMENT AGENCY’s Post

Today, I joined my House and Senate Republican colleagues to unveil a set of policy goals to provide Connecticut residents with long-term rate reduction, long-term stability, and short-term relief from ever-increasing energy costs. Unfortunately, past decisions are coming back to harm ratepayers today, and the policy proposals we’re presenting have the power to right the proverbial ship and provide immediate help to struggling ratepayers. Our plan proposes using federal ARPA funds to eliminate a substantial shortfall caused by the governor’s 4-year moratorium on electricity shutoffs and does not make responsible ratepayers pay for the shortfall. We also propose limiting power purchase contracts to 100% over the wholesale cost of energy, analyzing New England energy markets to find ways to lower consumer bills, and in an effort to truly provide regulatory independence and consumer-focused oversight, we propose separating the Public Utilities Regulatory Authority (PURA) from the umbrella of the Department of Energy and Environmental Protection (DEEP). #energy #cthouse61 #legislature

I have tried to not be tooooo political and certainly the lifting of the ban on new onshore wind developments was something to really celebrate… But, here’s a little scepticism because, I’m just that way inclined 🤷🏼♀️ Let’s get into it: The newly elected Labour Party’s ambitious offshore wind and decarbonisation targets are set to be tested by budget constraints and governance challenges. In the first 100 days, watch for the government to seek quick wins on key energy policies. A critical move will be to increase the auction budget. The sixth CfD auction is this summer and without changes, the UK is likely to miss its 2030 targets. The government must consider increasing the budget and reforming the scheme to stay on track. By increasing the budget, the new government can unlock billions in renewable energy investments, lower consumer bills, enhance energy security, and boost UK supply chains and high-quality jobs. But, I remain concerned over the financial balance of the manifesto.

Exciting news from the UK! The new Labour government, led by Keir Starmer, is poised to lift the de-facto ban on onshore wind in England. In her first major speech as Chancellor, Rachel Reeves will announce this significant change as part of a broader overhaul of the planning system, aiming to facilitate grid upgrades and enhance energy infrastructure. It's been nearly a decade since any large-scale onshore wind farms were built in England, due to restrictive planning rules introduced by a previous Conservative-led administration. Labour has consistently pledged to reverse this moratorium, and with their recent electoral victory, they are now set to follow through on this promise. We are excited to see the UK taking significant steps towards a greener and more sustainable future, and would welcome the opportunity to work with you on any onshore or offshore wind projects! #RenewableEnergy #OnshoreWind #UKPolitics #LabourGovernment #Sustainability #EnergyInfrastructure #RachelReeves #KeirStarmer

Do the costs of wind power outweigh its benefits for Ontario? New research suggests that it might have been good for developers, less so for customers. It's quite easy to argue the same would be the case in Australia as long as subsidies provided to wind generators amount to circa 40% of revenue, while we have a 30% corporate tax rate. Until this changes it is structurally impossible for these companies to contribute more to the Australian tax payer than they receive in government support. Some hard lessons learned by Ontario's Liberal Party "that neither political spin nor good intentions are a sustainable long-term answer to imposing economic pain." Link to article https://lnkd.in/gBrY7h2J #wind #energytransition #costoflivingcrisis

Well said Matt Kean MP “We developed a road map with a mission to put NSW on the path to have the cheapest and most reliable energy anywhere in the world. To do this, we legislated the strongest reliability standard in Australia and commissioned the biggest super battery in the southern hemisphere to keep our energy security safe and secure. We sent a clear signal to investors who wanted to invest in NSW, bring down emissions and make energy affordable for consumers. Subsidising an ageing coal-fired power station to run for years longer would be a step backwards, and undo much of this good work.” Or at least share the details of the deal to spend taxpayer dollars. https://lnkd.in/gykGG-V9

The King's Speech outlined the new UK Labour Government's bold Clean Power Mission and key legislative plans, including the National Wealth Fund Bill and Great British Energy Bill. ⚡ With goals to double onshore wind, triple solar, and quadruple offshore wind by 2030, Labour is driving clean growth and infrastructure reforms. 👉 Check out Aleksandra Cernisova’s insights on what this means for the UK's energy future: https://lnkd.in/er-AhZgf

Back from a great week off with the family at Center Parcs and straight back into the world of UK upstream and fiscal uncertainty! Our North Sea and fiscal teams have more analysis pending but one thing is clear; the UK has rarely been a bastion of fiscal stability. Aside from a period in the 1990’s, after the removal of PRT, the UK upstream fiscal system has consistently fluctuated up and down (although rarely down for long!). The industry now finds itself in a place where it’s being taxed at more than three times the rate of other sectors - an unsustainable position. The UK government continues to state that the oil and gas industry will be here for decades to come and that its central to its energy and economic plans. We’ll wait with baited breath for next Wednesday to find out if that’s true or yet more political spin! #upstream #fiscal #ukgovernment #budget2024

In an article for Law360’s “Expert Analysis,” Robinson+Cole’s Peter Knight, John Casey and Eden Yerby cover recent challenges to offshore wind projects and how an anticipated ruling by the U.S. Supreme Court may upend long-standing principles of deference to federal agency decision making. “The court’s decision could influence the agencies’ rulemaking process, how agencies interpret their statutory authority, and the deference that courts apply to those interpretations,” they write. “While the statutes and regulations governing the approval process for offshore wind projects will remain constant, at least for the time being, the federal courts’ framework for reviewing agencies’ decision making based on those rules could be subject to upheaval.” https://lnkd.in/eUMVEVeV #offshorewind #winddevelopment #SCOTUS

The latest guidance from the Dept. of the Treasury and IRS sheds new light on critical incentives. From coal closures to brownfield sites, the guidance is clear on areas/properties that qualify for additional tax credits. Excitingly, the IRS has also identified a multitude of new Energy Communities that qualify - expanding possibilities for renewable development across the country. By aligning projects with these energy community designations, developers can not only maximize your tax advantages but also become a catalyst for profound economic and environmental change - especially in underserved communities. *** For more information, read here: https://lnkd.in/eR9MUugG