January 15, 2025

California lawmakers may consider extending the state’s landmark cap-and-trade program, following a request from Gov. Gavin Newsom in his 2025/26 budget proposal released last week. But the Los Angeles wildfires could have an impact on the proposed $322.2 billion budget. Newsom this week proposed providing at least $2.5 billion in additional funding for emergency response and to “jumpstart” recovery efforts.

Constellation will acquire Calpine in a deal that will create the largest U.S. fleet of zero- and low-emission power generation. The $29.1 billion acquisition announced last week is expected to have a net purchase price of $26.6 billon when the transaction closes. 

And Northern Virginia legislators yesterday introduced a package of bills to address growing demand from data centers, the same day that President Biden issued an executive order aimed at siting and permitting data centers on federal land by 2027. 

Here’s what else we had this past week: 

• Calif. Lagging on Hydrogen Fueling Station Target, CARB Finds 

• FHWA Awards $635M for EV Chargers, Hydrogen Fueling Stations 

• First FERC Filings Shed Light on New England OSW Tx Project 

• IRS Issues Low-income Clean Electricity Rules 

• LPO Offers $1.76B Loan Guarantee for Compressed Air Energy Storage 

• NY Defers Action on Controversial Cap-and-invest
  

See you next week!