California finding it difficult to get past natural gas In late 2019, Southern California Edison released “Pathway 2045”, its report on how the utility will meet the state’s aggressive carbon reduction mandates. Just over a year earlier, then-Governor Gavin Jerry Brown (D) signed into law S.B. 100, which accelerated the state’s existing renewable portfolio standard […]
COVID-19 and Possible Economic Demand Destruction
Let’s talk about the 6-ton elephant in the room, economic demand destruction. The ongoing COVID-19 pandemic and simultaneous oil price war have joined forces to drive a sector-wide commodity sell-off. As cities and states across the U.S. have begun issuing unprecedented measures to contain the spread of the virus (today, Governor Cuomo of New York […]
Can New York Build Renewables Fast Enough to Comply with Renewable Targets? Not Without Reforms.
During the summer of 2019 New York State passed the nation’s most stringent energy law in the form of the Climate Leadership and Community Protection Act (“CLCPA”). The law, which EVA analyzed in a recent special report, requires 70% of all electricity sales to be sourced from renewables by 2030, 100% of electricity from carbon-free […]
Gas and Coal Price Sensitivity Outlook: ERCOT Spotlight
National Summary: Gas burn in February actualizing at a record 27.35 BCFD, nearly 0.6 BCFD higher than in January and 2.4 BCFD higher YoY. Coal burn was relatively flat YoY for February, while hydro generation declined by 13.5% from last year. Exhibit seven demonstrates that gas burn is expected to remain around 27 BCFD through […]
Massachusetts’ Comprehensive Energy Plan Aspires for an Electric Future
Background The Massachusetts Department of Energy Resources (DOER) published its long-awaited energy plan on December 12th. DOER had been directed by Governor Charlie Baker in a September 2016 executive order to publish a “Comprehensive Energy Plan” (CEP) for the commonwealth. The CEP articulates the state’s high-level strategy to meet its commitment to reduce GHG emissions […]