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FERC Meeting Takeaways // Christie Named Chairman // Electricity Prices

Welcome to this week’s GridBrief, where we break down the latest energy developments and provide insight into the evolving power landscape. From pivotal regulatory decisions shaping our grid's future to major moves by industry leaders, we’re here to distill the noise into key takeaways and actionable insights. Let’s dive in.

Key Takeaways from the January FERC Open Meeting

FERC’s January 16 meeting delivered significant decisions shaping energy markets and infrastructure development across the U.S. The agency conditionally approved several major proposals and highlighted ongoing challenges with grid reliability, state partnerships, and transmission costs.

Key takeaways:

  • SPP’s Markets+ Tariff Approved: FERC greenlit SPP’s Markets+, a centralized day-ahead and real-time market for the Western Interconnection, with operations expected by 2027. Seams management between Markets+ and other Western markets remains unresolved.

  • DER Aggregations in MISO: FERC approved MISO’s plan for distributed energy resource aggregations but required further compliance filings. Enrollment begins in 2029, with market participation slated for 2030.

  • Pipeline Development Progress: Plains Pipeline received approval for market-based rates for its crude oil transportation services, reflecting FERC’s focus on maintaining infrastructure capacity.

  • State Regulatory Engagement: Commissioners stressed the need for states to have dedicated staff for evaluating complex RTO-related matters, emphasizing the importance of state-FERC partnerships in protecting consumers.

Chairman Willie Phillips highlighted environmental justice achievements but remained tight-lipped about his future under the new administration.

Mark Christie Named Chairman of FERC

President Trump has appointed Mark Christie as the new chairman of FERC, ushering in a renewed focus on energy reliability and consumer protection. Christie, known for his pragmatic approach and emphasis on state partnerships, outlined his top priorities: protecting consumers from excessive power costs, addressing the reliability crisis caused by retiring dispatchable generation, and collaborating closely with state regulators.

During his FERC tenure, Christie has been a vocal critic of overreaching federal mandates, including transmission planning rules, and has championed the importance of legal frameworks that protect state rights. As chairman, Christie is set to steer the agency toward infrastructure development and affordability, with a focus on addressing the nation’s growing energy demand.

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Conversation Starters

  • WSJ – Oil Majors Flirt With Electricity
    Exxon Mobil and Chevron explore supplying gas-fired power to data centers, marking their entry into the growing electricity market.

  • EIA – U.S. Wholesale Electricity Prices Stabilized in 2024
    Electricity prices dropped last year due to record-low natural gas costs and expanded renewable energy capacity.

  • C3 News Magazine – Federal Government Signs Billion-Dollar Nuclear Deal
    Constellation Energy secured a historic contract to supply nuclear power to 80 federal facilities over the next decade.

Good Bet, Bad Bet

Good Bet: Exxon Mobil Expands into Electricity
Exxon Mobil is making a calculated move into the electricity market, designing a 1.5 GW power plant with integrated carbon-capture technology targeted at powering data centers. This pivot plays to Exxon’s strengths: leveraging its expertise in natural gas while addressing the growing demand for lower-carbon energy solutions. By combining natural gas with carbon capture, Exxon positions itself as a leader in delivering cleaner, reliable power, especially to energy-intensive sectors like tech. With this shift, the company is signaling a broader strategic adaptation to the changing energy landscape, ensuring relevance and profitability in a decarbonizing world.

Bad Bet: "Peak Oil" Predictions
In the 1970s, experts widely predicted that global oil production would peak by the 1990s, leading to catastrophic shortages and an energy crisis. The theory, popularized by geologist M. King Hubbert, projected an imminent decline in oil availability. Instead, technological advancements like hydraulic fracturing and horizontal drilling unlocked vast reserves, pushing production to record highs in the 2010s. The "peak oil" scare didn’t anticipate human ingenuity and innovation, making it a stark reminder of how wrong energy forecasts can go.

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