Latest news with #HouseBill
Yahoo
14 hours ago
- Business
- Yahoo
Why an Ohio ban on settlements to close 'base load' power plants matters for clean energy
A decade ago, the Sierra Club and other environmental groups, trade organizations, and companies found themselves in a regulatory standoff with American Electric Power over operating costs for six coal-fired power plants in Ohio. The utility's opponents objected to letting the company collect more money from customers to keep the unprofitable plants running, while the utility argued the charges were a hedge against even higher costs. Before state regulators made a decision, the utility and some of its opponents announced a compromise. As part of the deal, the Sierra Club would drop its opposition in exchange for AEP's commitment to add more solar and wind to its portfolio as well as move up its timeline for closing or converting several coal plants to natural gas. A Sierra Club representative at the time described it as 'nowhere near a perfect deal' but as one that would significantly reduce carbon emissions and accelerate the state's clean energy transition. Such compromises will now be prohibited in Ohio under a new state law that forbids settlements involving the closure of 'base load' power plants. Proponents of House Bill 15, signed by Republican Gov. Mike DeWine in mid-May, say it will support the state's ever-growing power needs and promote competition within its energy sector. Yet critics are questioning the law's definition of 'base load' generating facilities: It only covers electricity sources that run primarily on nonrenewable fuels such as natural gas or nuclear. The definition excludes wind or solar power, even when combined with battery storage. Negotiating special deals in settlements has long been common in utility regulatory cases. Industry groups or companies have gotten discounts and other benefits in return for dropping opposition to utilities' added charges. Parties in court cases often settle before trial, too. For example, the same year that the Sierra Club reached a settlement with AEP, a trade group representing industrial customers negotiated a special rate with FirstEnergy's Ohio utilities in exchange for dropping opposition to a customer-funded bailout of that company's unprofitable coal and nuclear plants. (The secret terms of that agreement were part of a criminal case filed last year against Ohio's former chief utility regulator, Sam Randazzo. They also became part of a House Bill 6-related regulatory case on which regulators will finally hear evidence this month.) HB 15 will still allow settlements with special deals, as long as terms are part of the public record, there's no cash payment, and they do not close or limit 'base load' electricity-generating facilities. Neil Waggoner, who heads the Sierra Club's Beyond Coal campaign for the Midwest region, suspects the provision is likely a backlash to the environmental group's 2015 settlement with AEP. That deal didn't end up delivering all of the expected clean energy benefits. State rules requiring wind turbines to be a certain distance from other properties ultimately made it impossible for AEP to add the planned 500 megawatts of wind generation, and the Public Utilities Commission of Ohio refused to allow the utility to charge customers the cost of building 400 MW of solar energy. The 'base load' provisions weren't part of HB 15 as it originally passed the House, nor were they in the initial versions of the companion Senate bill, SB 2. The language appeared in a substitute version of SB 2 introduced on March 11, the same day that Ed Spiker, chair of the Ohio Coal Association, submitted written testimony pleading the state to enact 'guardrails to ensure current coal power plants are not forced to close.' The terms used in SB 2 included natural gas and nuclear in the definition of a 'base load electric generating facility' but not renewables. The Senate then added the provisions to HB 15 before passing it this spring. The law suggests Republicans' continuing willingness to prop up conventional power plants, even when their electricity may cost more than cleaner sources of power. 'How would you replace base load power generation, given the amount of megawatts that they produce that we certainly require?' Sen. Jerry Cirino, R-Kirtland, challenged one witness who spoke against nuclear power plants during a March 11 hearing held by the Senate Energy Committee. Yet electricity from coal and nuclear plants remains relatively expensive, compared to that from renewables or natural gas. Ashley Brown, a former state utility regulator, questioned the constitutionality of the new settlement restrictions. 'I don't know how they can tell somebody you can't shut down a plant,' he told Canary Media. Two weeks ago, the Trump administration ordered a retiring Michigan coal plant to stay open, although it's unclear whether the mandate will face a court challenge. Separately, regional grid operator PJM Interconnection has sometimes issued orders to keep power-generation facilities running to maintain grid reliability, as it did for former FirstEnergy coal plants. In that case, however, the company was paid to keep the plants open. Waggoner noted that HB 15's language only applies to settlements. Its terms wouldn't stop a company from closing an unprofitable plant on its own accord. HB 15 also finally revokes subsidies for two 1950s-era coal plants, which had been put in place by HB 6, the 2019 law at the heart of an ongoing public corruption scandal in Ohio. Yet Beth Nagusky, an adjunct law professor at Case Western Reserve University, wonders whether the provision preventing settlements that close 'base load' power plants is meant to lay the groundwork for new subsidies down the road for nuclear and coal plants, which might become involved in regulatory or judicial cases. 'I don't think that's even being hidden,' Waggoner said. Along the same lines, environmental groups have criticized laws from 2023 and 2024 that include natural gas and nuclear power in the state's definition of 'green energy.' As Waggoner sees it, utilities and policymakers who claim to be worried about maintaining enough 'base load' or 'dispatchable' electricity are concerned less about real reliability issues and more about minimizing the importance of renewable energy in the face of climate change, even when renewables are paired with storage. 'They're looking at how do you frame this argument so you're not just saying, 'We don't want renewables,'' Waggoner said. 'They're trying to find a way to justify what they want, as opposed to what the moment demands.'
Forbes
6 days ago
- Business
- Forbes
Trump Defends Signature Policy Bill After Musk Criticism
President Donald Trump defended his signature policy bill that passed the House last week after Elon Musk criticized it for undermining the government cuts he spearheaded, with Trump telling reporters Wednesday his reaction to Musk's comments is 'a lot of things,' while acknowledging the bill will undergo modifications in the Senate. This is a developing story and will be updated.
Time of India
7 days ago
- Politics
- Time of India
Texas Senate passes bill to define the difference between man and woman based on reproductive organs. Check details
In a significant development, the Texas Senate has passed a bill requiring the state to strictly define man and woman based on reproductive organs on a 20-11 party line vote. The bill has already passed the House and will go now to the governor's desk, reports The NewsWeek. The move was welcomed by champaigners as a win for "truth and reality" and one that protects single sex spaces such as locker rooms. But advocates for LGBTQ rights said the bill is harmful to the lives of trans people, who will face greater marginalization and discrimination as a result. If this bill becomes law, more than 120,000 trans Texans would be forced to be defined in state records by the sex they were assigned at birth, rather than the gender they identify as, even if they've already legally changed their birth certificates and driver's licenses. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo ALSO READ: Elon Musk-Trump bromance over? Tesla CEO's first major public disagreement with President sparks buzz What does the bill say? According to Texas Tribune, House Bill 229 says "a woman is an individual whose biological reproductive system is developed to produce ova, while a man is someone whose reproductive system is developed to fertilize the ova". The bill would require that this definition be used across state statute, with potentially wide-ranging consequences for trans and intersex people who would see their gender identity reverted back to the sex they were assigned at birth in state records. Live Events The Texas Senate has passed HB 229, known as the "Women's Bill of Rights," with a vote of 20 to 11. The bill now heads to Republican Governor Greg Abbott for his signature. If signed into law, the legislation would require state documents—including birth certificates and driver's licenses—to record individuals' sex as assigned at birth, rather than their gender identity. "The message is clear: You don't mess with Texas women," said M. E. Castle, director of government relations for Texas Values, a Christian advocacy group, in a statement posted to X. "HB 229 makes sure that the reality and truth of the two sexes is clear in Texas law and never altered by school districts, local cities, or bureaucrats ever again! ALSO READ: Inside The Handmaid's Tale series finale: Elisabeth Moss reflects on show's ending, says 'I can't imagine...' "With today's vote in the Senate, Texas will lay the foundation for protecting women's spaces and opportunities." The bill was introduced by State Representative Ellen Troxclair and sponsored in the Senate by State Senator Mayes Middleton, both Republicans. It aligns closely with executive orders issued by former President Donald Trump on the same issue. Trump has advocated for reinstating a biological definition of sex , particularly emphasizing the exclusion of transgender women from women's and girls' sports to maintain what he describes as competitive fairness. State Senator José Menéndez, a Democrat, criticized the legislation as 'state-sponsored discrimination.' 'If a law forces non-binary Texans—real people—into categories that don't reflect their lived experiences or identities, that amounts to discrimination in practice,' Menéndez told the Texas Tribune. ALSO READ: Why Melania Trump's $40 million documentary deal with Amazon has sent Hollywood into a tizzy Trump threatens to hold federal fund California Trump had also threatened to withhold 'large scale' federal funding from California if it allowed a transgender student-athlete to compete in girls' state championships. 'THIS IS NOT FAIR, AND TOTALLY DEMEANING TO WOMEN AND GIRLS,' he wrote on Truth Social. California, under the leadership of Radical Left Democrat Gavin Newscum, continues to ILLEGALLY allow 'MEN TO PLAY IN WOMEN'S SPORTS.' This week a transitioned Male athlete, at a major event, won 'everything,' and is now qualified to compete in the 'State Finals' next weekend. As a Male, he was a less than average competitor. As a Female, this transitioned person is practically unbeatable. THIS IS NOT FAIR, AND TOTALLY DEMEANING TO WOMEN AND GIRLS. Please be hereby advised that large scale Federal Funding will be held back, maybe permanently, if the Executive Order on this subject matter is not adhered to. The Governor, himself, said it is 'UNFAIR.' I will speak to him today to find out which way he wants to go??? In the meantime I am ordering local authorities, if necessary, to not allow the transitioned person to compete in the State Finals. This is a totally ridiculous situation!!! ALSO READ: Thousands could lose SNAP benefits under 'big, beautiful bill' in state Trump won by 1% He further warned: 'Please be hereby advised that large scale Federal Funding will be held back, maybe permanently, if the Executive Order on this subject matter is not adhered to.' The executive order, referencing Title IX—the federal law prohibiting sex-based discrimination—requires all recipients of federal funds to bar transgender women and girls from participating in female sports categories.
Yahoo
23-05-2025
- Business
- Yahoo
First Solar price target raised to $157 from $127 at Jefferies
Jefferies raised the firm's price target on First Solar (FSLR) to $157 from $127 and keeps a Hold rating on the shares after reconsidering estimates following the FEOC restrictions focus in the House bill. The firm sees 'real merit' to an extended life for the Southeast Asia manufacturing footprint as Foreign Entity of Concern restrictions in the House Bill and ITC voting in the antidumping duty and countervailing duty proceeding could, at least in the near-term, result in a demand pull for First Solar SEA volume, provided reciprocal tariffs are not raised to prior levels, the analyst tells investors. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on FSLR: Disclaimer & DisclosureReport an Issue Morgan Stanley says amendment to OBBB more challenging for renewables Solar Stocks Crater as Trump's New Tax Bill Advances Solar stocks plunge after House passes revised tax bill Trump Trade: Trump's revised tax bill clears the House Anti-China policy in House bill negative for clean energy, says Mizuho Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNN
22-05-2025
- Business
- CNN
Live updates: The latest on Trump's presidency as House passes his sweeping domestic policy bill
Update: Date: 1 hr 15 min ago Title: Trump praises House leadership and calls for Senate action after bill passage Content: President Donald Trump praised Speaker Mike Johnson and House Republicans who voted 'yes' on the massive bill meant to enact the president's key promises. 'Great job by Speaker Mike Johnson, and the House Leadership, and thank you to every Republican who voted YES on this Historic Bill!' he said in a post on Truth social. Trump called for the Senate to act quickly on their bill, which will likely involve making changes that sends it back to the House. 'Now, it's time for our friends in the United States Senate to get to work, and send this Bill to my desk AS SOON AS POSSIBLE! There is no time to waste,' he said. Update: Date: 49 min ago Title: Key things to know about the House's passage of Trump's sweeping domestic policy bill Content: Speaker Mike Johnson delivered a major win for President Donald Trump early on Thursday morning, uniting a deeply divided House GOP to pass a bill that many of them were still pushing fiercely to change. Passage of the sweeping tax and spending cuts package marked a stunning victory for both Johnson and Trump after the bill appeared doomed just days earlier. 'Sometimes it's good to be underestimated, isn't it?' a sleep-deprived Johnson said on the House floor early Thursday, after multiple all-night negotiating sessions with all corners of his conference. More on the bill: Trump himself played a major role in passing the bill, which contains many of his campaign trail promises, such as extending his 2017 tax breaks and eliminating taxes on tips and overtime pay. It also devotes billions to border security, allowing for a major crackdown on immigration. In multiple sit-downs with GOP lawmakers this week, Trump made impassioned appeals to members to back his agenda. The legislative package includes measures that would deeply cut into two of the nation's key safety net programs – Medicaid and food stamps – while making permanent essentially all of the trillions of dollars of individual income tax breaks contained in the GOP's 2017 Tax Cuts and Jobs Act. House Republicans unveiled a slate of changes to the bill on Wednesday evening in an effort to win over GOP holdouts. Those changes included speeding up work requirements for Medicaid to the end of 2026, from the start of 2029. Republicans also decided to phase out Biden-era energy tax credits sooner than planned, among other provisions. Next steps: How much of the House's version will survive in the Senate GOP is unclear. Republicans in that chamber have signaled they plan to make changes, but they are under intense pressure to move quickly: Trump and Johnson have told members they want to sign the bill into law by July 4. And any changes in the Senate could upset the careful balance struck by House GOP leaders to pass the bill through its narrow majority. In the end, Johnson only failed to win over three GOP votes. Update: Date: 1 hr 16 min ago Title: White House plans "Make America Healthy Again" event today tied to the release of report from RFK Jr. Content: The Trump administration is planning to hold a 'Make America Healthy Again' (MAHA) event tied to the release of a report from a commission led by Health and Human Services Secretary Robert F. Kennedy Jr., a source familiar with the plans told CNN. The event is expected to feature President Donald Trump, Kennedy and other health officials working on the MAHA commission, which was set up by Trump via executive action in February. The report will offer a comprehensive view on toxins in food, vaccines and pharmaceutical drugs, the source said, though details of the event and the final version of the report are subject to change.
