Virginia Cooperative Breaks New Ground for EVs
Posted on Aug 16, 2022
Northern Neck Electric Cooperative, a member of Old Dominion Electric Cooperative, is pioneering a program to give electric vehicle (EV) owners a break when charging up their vehicles — as long as they do so when other members’ power demand is relatively low. It will be the first voluntary, separately metered, off-peak EV charging rate offered by an electric utility in Virginia.
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Arizona Governor Signs Bill Eliminating Double Assessment on Electric Cooperative Revenues
Posted on Aug 11, 2022
Arizona Governor Doug Ducey signed five bills into law this week, including one that eliminates the double assessment on rural electric cooperatives. Formerly, a cooperative’s gross intrastate revenues were taxed through the generation cooperative, as well as the cooperative member, resulting in customers paying twice the tax to power their homes.
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Kentucky Electric Cooperatives Provide Assistance Following Floods
Posted on Aug 8, 2022
Electric cooperatives across Kentucky are working together to provide assistance to citizens facing widespread damage caused by flooding. The statewide association, Kentucky Electric Cooperatives, has enabled the Kentucky Rural Electric Disaster Fund to help cooperative employees, and many distribution cooperatives are collecting items to support residents in flood-ravaged communities.
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Indiana Cooperative to Develop Solar Array
Posted on Aug 5, 2022
Hendricks Power Cooperative, a rural electric cooperative which serves 35,000 members in central Indiana, broke ground on a 7 MW solar installation of over 19,000 panels. The project will be the largest solar array for a rural municipal electric cooperative in Indiana.
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Choptank Electric Cooperative Receives $23 Million for Fiber Expansion
Posted on Aug 4, 2022
Choptank Electric Cooperative in Maryland has been awarded $23 million from the state to provide high-speed internet to residents. The grant help provide internet service to almost every unserved address in Caroline County.
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New Mexico to Receive Funds for Rural High-Speed Internet
Posted on Aug 2, 2022
New Mexico will receive more than $100 million for high-speed internet projects in rural areas. The projects, part of a $401 million national funding announcement, are supported by the U.S. Department of Agriculture’s ReConnect program.
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New Senate Bill Includes Direct-Pay Incentives for Electric Cooperatives
Posted on Aug 2, 2022
A new Senate budget bill includes direct federal payments to electric cooperatives as incentives for developing renewable energy, carbon capture technology, battery storage, nuclear power and other energy innovations.
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Inflation Reduction Act targets carried interests
Posted on Jul 30, 2022
On July 27, US Senators Joe Manchin and Chuck Schumer announced proposed legislation referred to as the Inflation Reduction Act of 2022 (the Act). The proposed legislation includes changes that would expand the scope of IRC section 1061, which generally imposes limits on tax benefits available to carried interests and other compensatory partnership interest arrangements. By way of background, carried interest arrangements have long been used by private investment funds, including private equity, real estate, hedge funds and other alternative asset management funds, as a way to compensate and...
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A welcome clean energy surprise: Inflation Reduction Act includes energy tax extensions and expansions
Posted on Jul 29, 2022
In a surprising turn of events, late on July 27, 2022, Senators Manchin (D-WV) and Schumer (D-NY) released the Inflation Reduction Act of 2022. The Act, which runs 725 pages, includes numerous energy tax provisions aimed at enhancing US energy security. Tax pay-fors in the bill include a corporate minimum tax and an increase in the tax rate on carried interest. A summary of the bill was also released. Read the full publication here.
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Great River Energy to Build Transmission Line to Bolster Reliability
Posted on Jul 26, 2022
Great River Energy, in partnership with Minnesota Power – a division of ALLETE Inc., announced its intent to build an approximately 150-mile, double-circuit 345-kV transmission line from northern Minnesota to central Minnesota that will support grid reliability in the Upper Midwest.
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Hendricks Power Cooperative to Build Solar Array in Indiana
Posted on Jul 22, 2022
Hendricks Power Cooperative and Solential Energy are building a 7 MW solar array in Hendricks County, Indiana. The project will be operational in 2023, and will be the largest solar array developed by an electric cooperative in Indiana.
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President Biden to announce executive climate actions; Does not declare national emergency
Posted on Jul 20, 2022
On July 20, 2022, President Biden delivered an address on climate change. Despite heavy pressure by many in Congress and environmental groups to announce new executive actions to address climate change, and even to potentially go as far as declaring a national emergency, the President instead stated only that specific actions would be announced in the coming days and weeks. The President did describe climate change as a “clear and present danger” and an “emergency” but stopped short of declaring a national emergency. Declaration of a national emergency would have unlocked a broader range of...
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Kentucky Cooperative Receives Grants to Bring Internet to Unserved Households
Posted on Jul 20, 2022
Pennyrile Rural Electric Cooperative has received $13,827,320 in grants from Kentucky’s Better Internet program to assist in expanding access to high-speed internet to 5,598 unserved households and businesses.
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Green Tax, Volume 2
Posted on Jul 19, 2022
Welcome to Green Tax, Vol. 2. Each quarter we will provide a recap of some of the important energy tax issues of the last quarter, including court rulings, IRS rulings and guidance, legislative activity, and more. Opinions and Rulings Collateral Estoppel Closes Door on Fuel Credit CaseOn June 8, the Fifth Circuit issued its opinion in ETC Sunoco Holdings LLC v. United States, No. 21-10937 (5th Cir. 2022). The court affirmed the district court’s ruling, which held that the doctrine of collateral estoppel barred the taxpayer from litigating its fuel mixture tax credit claim because the Court...
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