FERC Seeks Industry Input on Financial Assurances for Hydro Projects
Posted on: January 21, 2021 By: Dave Poe, Boris Shkuta, Taylor Stuart
On January 19, 2021, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued a Notice of Inquiry (NOI) requesting industry input regarding the scope and necessity of potential financial assurances that it should impose on hydroelectric projects seeking FERC licenses. [1] In opening this NOI, the Commission noted recent experiences where a lack of funding for needed dam safety repairs led to the recent dam failures near Midland, Michigan in May of 2020. This proceeding has been instituted to determine whether additional Commission requirements for financial assurances by...