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DISCLAIMER: This blog is published for general information only - it is not intended to constitute legal advice and cannot be relied upon by any person as legal advice. U.S. Treasury Regulations require us to notify you that any tax-related material in this blog (including links and attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding tax penalties, and may not be referred to in any marketing or promotional materials.  While we welcome you to contact our authors, the submission of a comment or question does not create an attorney-client relationship between the Firm and you.

Wednesday
Aug032011

Marine Technology Reports on "World Wave & Tidal Market"

An article in the current issue of Marine Technology magazine provides a concise summary of the market and related issues present in the developing wave and tidal renewable energy marketplace.  This is of particular interest to us in New England, considering the tidal range in Maine and on-going tidal projects such as the Muskeget Channel installation, contracted to provide power to both Edgartown and Nantucket.  The article, entitled “World Wave & Tidal Market,” forecasts capital expenditures of $1.2 billion installing 150MW of wave and tidal stream capacity between 2011 and 2015, a six-fold increase over the previous five years.  Tidal projects are expected to be the subject of almost 54% more expenditures than wave projects.  Market issues include the need to bring down current high costs, increase access to capital, improve investor confidence and lessen grid connection constraints.   The entire issue of Marine Technology, including the article, may be accessed here.

Friday
Jul292011

Energy News Roundup: July 23-July 29

This week in regional energy news …

 

 

Wednesday
Jul272011

ISO New England Publishes 2011-2012 Regional Electricity Outlook and 2010 Financial Report

ISO New England has published its fourth annual Regional Electricity Outlook, Bringing Possibilities Into Focus.  Through the Regional Electricity Outlook, ISO-NE hopes to help New England’s energy stakeholders understand the causes and impacts of the challenges facing New England’s evolving electricity landscape.  The report identifies challenges in the areas of “Resource Performance and Flexibility,” “Increased Reliance on Natural-Gas-Fired Capacity,” “Generation Retirements,” “Integration of Variable Resources” and “Aligning System Planning and Wholesale Electricity Markets.”  It discusses “Advancing Grid Planning and Market Design” and describes the gains made by ISO-NE, market participants, states, and other stakeholders toward securing a more reliable and sustainable electricity future for the New England.  Finally, the report provides key facts such as the fact that there has been approximately $4 billion in transmission investment in the region since 2002, with another $5 billion planned.

ISO New England has also published its 2010 Financial Report. That annual report includes a Management Discussion and Analysis that describes last year’s operations and impacts on ISO-NE’s financial position as well as ISO-NE’s audited financial statements. The Regional Energy Outlook and the Financial Report are posted together on ISO-NE’s website.

 

Friday
Jul222011

Energy News Roundup: July 16-July 22

 

 

Thursday
Jul212011

First Wind's Rollins Wind Project Commences Commercial Operation

On Wednesday, July 20, First Wind cut the ribbon and celebrated the completion and commercial  operation of the Rollins Wind project.  The project is expected to generate 60 MW of renewable energy, which is enough to power 23,000 Maine homes per year.  Completion of the project involved significant contributions from Verrill Dana attorneys Juliet Browne, Kelly Boden, Tony Calcagni, Gordy Smith and Scott Anderson.  First Wind will sell the output of the Rollins Wind project to Bangor Hydro Electric Company and Central Maine Power Company pursuant to long term contracts with each utility.

 

Friday
Jun102011

Energy News Roundup: June 4-June 10

This week in regional energy news …

Friday
Jun032011

ISO New England Executive Explains How ISO-NE Prepares for Summer

In a brief but informative interview, ISO New England’s Executive Vice President and Chief Operating Officer Vamsi Chadalavada explains how ISO New England prepares for summer conditions and this summer’s expected peak demand.  With forecasts indicating that the New England economy will improve, and improve at a faster clip than the rest of the nation, ISO New England expects peak demand this summer to exceed last year’s actual peak of 27,100 MW.  If temperatures hit 90 degrees, ISO New England expects peak demand to be approximately 27,550 MW.  If temperatures hit 95 degrees (as they did last summer), ISO New England expects the peak to be approximately 29,600 MW.  ISO New England’s preparations include working with generators and transmission owners to complete facility inspections and maintenance before summer and working with state, regional and federal entities to make sure appropriate entities are aware of the readiness of the system and that the communication protocols that will be used in emergencies are understood.