On February 8, 2023, the State of Minnesota enacted House File 7 (“H.F. 7”) to modify electric utility standards and revises the state’s goals for generating carbon-free electricity by 2040. As discussed below, H.F. 7 significantly modifies the legal frameworks that direct and incentivize future Minnesota electric sector developments and has implications for regional energy policy.
Physical Security of Substations
Between October 2022 and February 2023, at least nine substations were attacked in North Carolina, Washington State, and Oregon, resulting in power outages for tens of thousands of people. Damage to two substations in Moore County, North Carolina on December 3, 2022 caused 45,000 people to lose power, some for five days.…
NextEra Bid to Acquire Oncor Rejected by PUCT
During the Public Utility Commission of Texas (PUCT) open meeting today, the commissioners unanimously approved, with no substantive discussion, a proposed order finding that the sale of Oncor Electric to NextEra Energy is not in the public interest.
On October 31, 2016, NextEra and Oncor had filed a Joint Report and Application with the PUCT seeking the regulatory approvals required for NextEra to acquire Oncor. NextEra was hoping to acquire both the approximately 80% interest in Oncor indirectly held by Energy Future Holdings Corp. (EFH), which is currently in bankruptcy, and the 19.75% interest indirectly held by Texas Transmission Holdings Corporation. In addition…