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On May 29, 2024, the Treasury Department (the “Treasury”) and the Internal Revenue Service (the “Service”) issued proposed regulations (REG-119283-23) (the “proposed regulations”) regarding the clean electricity production tax credit and the clean electricity investment tax credit provided by the Inflation Reduction Act of 2022 (the “IRA”)¹ and available under new sections 45Y and 48E, respectively, of the Internal Revenue Code of 1986, as amended (the “Code”).

The story of artificial intelligence (“AI”) is one of technological promise and societal challenge, and its impact on the U.S. electric power grid is fast becoming a pivotal chapter.

On May 13, 2024, the Federal Energy Regulatory Commission (“FERC” or “Commission”) established “a new foundation” upon which new electric transmission facilities can be planned, paid for, and built.

The United States electric grid is becoming increasingly stressed as the nation navigates the energy transition and demand for electricity rises.

On March 19, 2024, the North American Electric Reliability Corporation (“NERC”) asked the Federal Energy Regulatory Commission (“FERC”) to approve revisions to NERC’s Rules of Procedure (“ROP”) that would require certain small (over 20 MVA) inverter-based resources (“IBRs”) – like solar and wind power generators – to register with NERC, and eventually be subject to existing and new reliability standards applicable to larger IBRs.

On November 7, 2023, Texas voters approved a constitutional amendment creating the Texas Energy Fund (“TEF”).

John Jannarone, Editor-in-Chief of PE Edge, interviews Jeffrey Jakubiak, partner at Vinson & Elkins, at the New York Stock Exchange.

Over the past few years, the Federal Energy Regulatory Commission (“FERC” or the “Commission”) and the Department of Energy (“DOE”) have proposed many rules to support the Biden Administration’s push to build transmission infrastructure to ensure reliability and support new sources of generation.

V&E lawyers discussed recent antitrust developments in these industries — including federal regulators’ merger and non-merger enforcement priorities and state & private litigation — and what lies ahead.

Vinson & Elkins recently expanded its corporate practice in London with the addition of Kilian de Cintré, who joined as an energy and infrastructure partner.

Chris Taufatofua joined Vinson & Elkins’ corporate and finance practice in London as an energy, infrastructure and finance transactions partner, enhancing the firm’s capabilities to advise on complex project financings and other transactions.

We have recently seen an increase in audits by the Federal Energy Regulatory Commission’s (“FERC”) Office of Enforcement (“OE”) that take issue with the way electric utilities and interstate natural gas pipelines allocate overhead costs to construction projects.