February 5, 2025

Clouds of uncertainty have formed over the energy industry and states that are supposed to receive funding from the federal government for energy projects. 

As of this newsletter, that uncertainty has cleared somewhat for now. On Monday, President Trump reached agreements with the leaders of Canada and Mexico, postponing trade tariffs that were set to go into effect yesterday, including a 10% tariff on Canadian energy imports. But, as James Downing reports, there was a lack of clarity in the president’s order around whether it applied to electricity. He heard from Canada’s energy minister in a talk at the Atlantic Council in D.C. and spoke to several experts on U.S.-Canadian energy trade. And, prior to the deals being struck, Jon Lamson spoke to several in the energy community about what the tariffs could mean for the wholesale electricity and gas markets. 

Also on Monday, a federal judge in D.C. issued a temporary restraining order on the White House’s Office of Management and Budget that made very clear it could not freeze federal spending without the authorization of Congress. That was in response to statements made by Trump and the White House press secretary that, despite rescinding a vaguely worded memo directing the pause from OMB, department and agencies heads were still expected not to disburse funding. As K Kaufmann reported, grants and loans committed through the IRA and IIJA were still on hold prior to the judge’s order. 

NetZero Insider will continue to follow these developing stories. Here’s what else we had this past week:

• ACEEE Report Highlights Success of ‘Next Generation’ Efficiency Policies 
  

• Global 2024 Energy Transition Investments Estimated at over $2T 

• ‘Green’ Steel Mill Gets Financial Boost from CEC Grant 

• New England Gas Generation Hit a Record High in 2024 

• NJ Abandons 4th OSW Solicitation 

• NY Quantifies Slow Progress Toward Renewables 

• NYPA Finalizes Road Map for Renewables Development 

• Overheard at USEA State of the Energy Industry Forum 2025 

• PJM Network Upgrades Boost Cost of Dominion OSW Project 9% 

• Senate Confirms Trump’s Energy, Interior Secretaries 

• Shell Quits Atlantic Shores Offshore Wind Project in NJ 

• Ørsted Replaces CEO Mads Nipper 

See you next week!