2005 09 21 epact of 2005 - va ind energy users group
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Virg in ia Indust r ia l Energy User Group
Annual Meet ing
The Energy Policy Act of 2005
Ed Kee
September 21, 2005
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What s NOT in t he Energy Pol ic y Ac t
Energy
Policy Actof 2005
Renewable PortfolioStandards calling for 10% ofelectricity to be generatedfrom renewable (wind, solar,
etc.) sources by 2020
Increase in vehiclefuel efficiencystandards
Expansion of drilling to
Alaska wildlife preserveand federal offshore waters
Ban or control of new
gas-fired generationfacilities
Specific targets fornew coal or nucleargeneration facilities
Requirement for utilities to puttransmission assets under control of
an independent transmission providersuch as a RTO or ISO
Endorsement of theKyoto Protocol
Overview . . .
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Promoteenergy
conservationand
efficiency Increaseproduction ofdomestic oil
and gas
Increaseproduction of
renewable
energysupplies
Diversifypower
generation fuelmix away from
natural gas
Increasereliability &capacity of
electric & gastransmission
systems
US committedto reduce
greenhousegas emissions
Energy
PolicyAct of2005
K ey Areas
A negotiatedcompromise;with four yearsof on-again,off-again effort in
the US Congress.
The aim is toincrease US
energy securityand reduceenergy costs.
Overview . . .
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Increaseproduction ofdomestic oil
and gas
Increaseproduction of
renewableenergy
suppliesDiversify powergeneration fuelmix away from
natural gas
Increasereliability &capacity of
electric & gastransmission
systems
US committedto reduce
greenhousegas emissions
EnergyPolicyAct of2005
Elec t r i c i t y
Energy Conservation & Efficiency:
Establishes tax credits & funding for investment in cleancoal power
Production tax credits and other incentives for newnuclear power plants
Reduces T&Ddepreciation period
New procedures for sitingtransmission lines (federalpreemption authority)
Reduces tax penalty fortransfer of transmissionassets to an independenttransmission company
Mandatory enforcement ofreliability standards underFERC jurisdiction
Extends production taxcredit eligibility to 12/07for investment inrenewable electricity
generation
Provides for $800million of tax-creditbonds for renewableenergy investment bytax-exempt public
power systems Establishes soft goal of
10 GW of installed non-hydro renewablegenerating capacity by2015
Mandates use of 7.5billion gallons/year ofethanol as gasolineadditive by 2012
Relaxes federal hydrolicensing standards andprovides tax incentives
for hydro efficiency anddam conversioninvestments
Reliability & Capacity:
Energy efficiency standards for consumer appliances and federal buildings
Provides tax credits for residential and business investment in energy-efficient technologies
Renewables:
Generation Fuel Mix:
Promote
energyconservationand efficiency
Repeal of PUHCA
Reform of PURPA no
purchase obligation inestablished electricitymarkets
Other:
Implications . . .
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Promoteenergy
conservationand efficiency
Increaseproduction ofdomestic oil
and gas
Increaseproduction of
renewableenergy
suppliesDiversify powergeneration fuelmix away from
natural gas
Increasereliability &capacity of
electric & gastransmission
systems
US committedto reduce
greenhousegas emissions
EnergyPolicyAct of2005
Nat ura l Gas
Reduces federal tax androyalty burden on Oil & Gasexploration and production,gas gathering and distribution,oil refining, prepayment forlong-term gas purchases
Directs Department of Interiorto conduct inventory of O&Gresources within federal landand waters
Deep well productionincentives
Production of Oil & Gas:
FERC jurisdictionover siting of LNGterminals
Enhances FERCjurisdiction over gas
pipeline construction Enhances FERCjurisdiction over gasstorage
Supply and Reliability:
Implications . . .
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Promoteenergy
conservationand efficiency
Increaseproduction ofdomestic oil
and gas
Increaseproduction of
renewableenergy
suppliesDiversify power
generation fuelmix away from
natural gas
Increasereliability &capacity of
electric & gastransmission
systems
US committedto reduce
greenhousegas emissions
Energy
PolicyAct of2005
Indust r ia l Users
Energy Conservation & Efficiency:
Provides tax credits for residential and businessinvestment in energy-efficient technologies:
$2.1 billion in tax incentives for efficiency andconservation efforts
Commercial buildings: tax deduction of up to $1.80
per-square-foot for buildings designed to use 50%less energy than required by the 2001 ASHRAE 90.1model commercial code.
DOE is authorized to enter into voluntary agreementswith industrial companies to reduce their energy intensity
by at least 2.5% each year for 10 yearsand to publicizetheir achievements
Implications . . .
Source: Alliance to Save Energy
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Introduction To PA . . .
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Represent at ive PA c l ient s
Introduction To PA . . .
IndustrialEnergy
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