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Final Section 468A Regulations Issued at Last

On September 4, 2020, the Internal Revenue Service (IRS) and the US Department of the Treasury (Treasury) published in the Federal Register final regulations under section 468A of the Internal Revenue Code (the Code) that address three issues raised by the nuclear electric industry concerning qualified nuclear decommissioning funds ("qualified funds"). These final regulations conclude a many years-long regulation project to clarify the rules relating to decommissioning costs and self-dealing rules. McDermott submitted multiple sets of comments throughout the process, and Marty Pugh provided vital testimony during an IRS hearing on the proposed regulations. Access the full article here.

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What Comes Next for Mercury Emissions from Power Plants?

The U.S. Supreme Court held this morning that the U.S. Environmental Protection Agency (EPA) acted unreasonably when it determined in 2000, and again in 2012, that it was “appropriate and necessary” to regulate mercury emissions from coal-fired power plants.  The central flaw in EPA’s reasoning, the Court held, is that the agency failed to consider the cost of regulation when making the threshold determination that regulation was “appropriate.”  Under Section 112 of the federal Clean Air Act, EPA must conclude that it is “appropriate” to regulate power plant mercury emissions before it can actually regulate those emissions. The immediate effect of today’s decision is that the ongoing challenge to EPA’s mercury regulations will be remanded to the U.S. Court of Appeals for the D.C. Circuit, which previously upheld those regulations.  The D.C. Circuit will then face a choice:  Should it vacate the regulations, or should it leave them in place while giving EPA...

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Deadline Extended to Submit Comments on EPA’s Proposed Greenhouse Gas Emission Limits for New Power Plants

The U.S. Environmental Protection Agency (EPA) has announced that it is extending until May 9, 2014, the deadline for submitting comments on its proposed rule to set greenhouse gas emission limits for new coal- and gas-fired power plants.  The announcement came in a Federal Register notice signed by EPA on February 26 and slated for publication in the next several days. EPA’s proposed rule, which was released publicly in September 2013 but not published in the Federal Register until January 8, 2014, would require “new” electric utility generating units (meaning units built after January 8, 2014) to comply with the following emission limits:  (1) new coal-fired units would be limited to 1,100 pounds of carbon dioxide (CO2) per megawatt-hour of electricity generated (1000 lbs/MwH); and (2) new gas-fired units would be limited to either 1000 lbs/MwH or 1100 lbs/MwH, depending on their size. EPA’s proposed limit for coal-fired units is based on the agency’s...

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Greenhouse Gas Limits for New Power Plants – Comments due to EPA by March 10, 2014

Yesterday, the United States Environmental Protection Agency’s (EPA) proposal to set greenhouse gas emissions limits for new coal-fired and natural gas-fired power plants was published in the Federal Register.  This proposal was originally posted on EPA’s website on September 20, 2013; however, the formal publication triggers the start of a 60-day public comment period.  The publication also suggests that EPA is still on track to meet President Obama’s June 2014 deadline for publishing an initial proposal to regulate emissions from existing power plants. The proposed rule would limit new coal plants to 1,100 pounds of CO2 emissions per megawatt-hour (lbs/MWh) of electricity produced, with compliance measured on a rolling average basis during each 12-operating month period.  The proposal would also require new small natural gas plants to meet a 1,100 lbs/MWh emission limit, while requiring larger, more efficient natural gas plants to meet a limit of 1,000...

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