What’s the issue?
FERC has embarked on a review of its 1999 Certificate Policy Statement and has asked to receive all comments by April 26, 2021, although the industry has requested that the date be extended to June 10, 2021.
Why does it matter?
Changes to the Certificate Policy Statement will likely determine how difficult it will become to obtain a certificate from FERC going forward and will have a tremendous impact on the industry for decades.
What’s our view?
While the Certificate Policy Statement is critical, the commissioners may tip their hands on a number of key issues when FERC rules, perhaps as early as next month, in another proceeding it launched in January. In that proceeding, FERC is reviewing its practices with respect to issuing notices to proceed with construction following the issuance of a FERC certificate and has said it intends to rule in that case no later than May 3. The industry is looking to narrow a rule issued last year, but opposition groups and the FERC questions about that rule may broaden its impact and will likely be an early indicator of the views of individual commissioners on critical issues that will be addressed in the Certificate Policy Statement.
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