Trends to watch in the US electricity sector in 2024

February 6, 2024

The United States’ march toward a decarbonized electric system will continue in 2024, as politicians and others strive to balance climate, reliability, affordability, and other objectives.

“There’ll be a lot of pressure on the commission to get a [transmission planning] rule out pretty quickly in 2024,” said Neil Chatterjee, a former FERC chairman who is now a senior advisor with Hogan Lovells.

In the face of increasing extreme weather, FERC is likely to maintain its focus on grid stability and resilience, a priority for Phillips, who formerly worked at the North American Electric stability Corp., which regulates grid reliability.

According to experts, the agency will likely address proposed gas pipelines and liquefied natural gas export projects, as well as initiatives to reform capacity markets. The EPA is also under pressure to address reliability concerns about an Environmental Protection EPA proposal to curb greenhouse gas emissions from fossil-fueled power plants.

“FERC will be in the news a great deal this year,” Chatterjee said.

Throughout 2024, demand for renewable energy will rise as states, the federal government, and major enterprises seek to reduce emissions in order to meet decarbonization targets.

The Biden administration has set a goal for the United States to achieve a 50% to 52% decrease in overall greenhouse gas emissions from 2005 levels by 2030, while corporations such as Apple, Amazon, and Microsoft believe they are on track to power 100% of their operations using renewable energy by 2025. 


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