U.S. regulators to vote on proposals to speed up connection of new energy projects to the electric grid.

Long waits for transmission interconnection have hindered renewable energy development and distribution.

Federal Energy Regulatory Commission (FERC) may shift from a "first come, first serve" to a "first ready" approach for project approvals.

New renewable generators and battery storage resources face a complex and time-consuming process for grid connection.

The average interconnection process currently takes five years, twice as long as in 2008.

The proposed reforms are part of broader efforts by FERC to accelerate renewable energy and storage deployment.

FERC is also working on proposals to improve planning and cost allocation for transmission lines.

Repsol will invest over $130 million to retrofit a diesel plant and produce second-generation biofuels.

The Spanish oil company aims to produce two million tons of low-carbon fuels by 2030, tripling its capacity from the start of the decade.

The Puertollano plant, built in the 1960s, will start producing biofuels by the end of 2025 with a capacity of 240,000 tons per year.

The plant will use organic waste, such as used cooking oils, as feedstock for biofuel production.

This will be the second plant of its kind in the Iberia region, in addition to Repsol's Cartagena refinery plant.

Biofuels are crucial for decarbonizing transportation in sectors difficult to electrify, like aviation and shipping.

Investment firm Low Carbon secures $513 million from MassMutual

The capital will be used for renewable energy projects in the UK, Europe, and North America

Focus on large-scale renewable energy projects

Funds to support their project pipeline until 2025

Low Carbon aims to create 20 gigawatts of new renewable energy capacity by 2030

Previously secured £310 million for solar projects in the UK and Netherlands from leading banks

Previously secured £230 million financing facility from NatWest, Lloyds Bank, and AIB

Low Carbon plans to enter the German renewables market and expand into North America

Williams releases 2022 Sustainability Report, focusing on environmental performance and social issues.

Ranked in top 1% of industry for S&P Global Corporate Sustainability Assessment.

Reduced greenhouse gas emissions by 43% since 2005, aiming for 56% reduction by 2030.

Executed first customer agreement for NextGen Gas with methane intensity measurement.

Joined Oil and Gas Methane Partnership 2.0 for international methane emissions reporting.

The Biden administration proposes a rule to increase royalties paid by fossil fuel companies for drilling on public lands.

The royalty rates have not changed since 1920.

The new rule would also increase the cost of bonds that companies must pay before drilling, raising them tenfold.

The Interior Department estimates the increased costs for fossil fuel companies to be around $1.8 billion until 2031.

About half of the money would go to states, a third for water projects in the West, and the rest to the Treasury Department and Interior.

The changes aim to promote renewable energy on public lands and make drilling more expensive for private companies.

Oil and gas companies strongly oppose the changes, citing potential negative impacts on energy production and investment.

The changes were partially mandated by the 2022 Inflation Reduction Act, but the new rule goes further by increasing bond costs even more.

The increased bond costs will be used to remediate abandoned uncapped oil and gas wells, shifting the burden from taxpayers

There are ~3.5 million abandoned oil and gas wells in the U.S.

The Biden administration has faced challenges regarding fossil fuel extraction on public lands, trying to balance climate goals with energy demands.

Canada plans to finalize regulations for capping and reducing greenhouse gas emissions from the oil and gas sector by mid-2024.

Draft regulations will be tabled by October, followed by consultations with provinces, indigenous groups, civil society, and industry.

The cap is seen as crucial to enforcing a significant reduction in pollution from the oil and gas sector, which accounts for 27% of Canada's emissions.

The government's framework for eliminating inefficient fossil fuel subsidies will cut C$1 billion in annual federal support for local oil, gas, and coal production.

Canada's commitment to eliminate fossil fuel subsidies domestically and internationally makes it the first G20 country to deliver on a 2009 pledge to rationalize and phase out such support.

The framework allows government support for oil and gas projects with emissions reduction plans, including carbon capture and storage (CCS) technologies.

CCS projects in Canada are estimated to represent about C$15 billion worth of investments, but they will account for only around 5% of the overall climate change plan.

Canada will work towards achieving a carbon-neutral electricity grid by 2035, relying on support from CCS technology.

CCS is expected to play a role in decarbonizing "hard-to-abate" sectors such as aluminum and cement, though it's not considered a sole solution for achieving climate targets.