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TRENDS IN ELECTRIC TRANSMISSION INFRASTRUCTURE DEVELOPMENT & REGULATION James J. “ J im” Hoecker Husch Blackwell LLP Counsel to WIRES (www.wiresgroup.com) 12 th Annual Beaver Creek Energy Conference Beaver Creek, Colorado February 5, 2013. Patterns of Current Investment

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TRENDS IN ELECTRIC TRANSMISSION INFRASTRUCTURE DEVELOPMENT & REGULATIONJames J. “Jim” HoeckerHusch Blackwell LLPCounsel to WIRES (www.wiresgroup.com)12th Annual Beaver Creek Energy Conference Beaver Creek, ColoradoFebruary 5, 2013

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Patterns of Current Investment

  • Historical & Current Barriers
  • Regulatory Hot Topics
  • Prognosis
business models
Business Models

Source: EEI

benefits of adequate transmission investment
Benefits of AdequateTransmission Investment
  • Reduced transmission congestion and generation costs
  • Increased system reliability; operational benefits; “insurance” benefits
  • Reduced system-wide production costs
  • Increased electricity market competition and liquidity; reduced integration costs from larger balancing areas
  • Reduced emissions and fossil fuel consumption
  • Tax benefits to states and local jurisdictions
  • Jobs and economic stimulus
  • Implementation of state renewable portfolio standards
barriers to transmission infrastructure development
Barriers to Transmission Infrastructure Development
  • Lack of established regional and inter-regional transmission planning processes
  • Unresolved cost allocation and recovery for multi-state and inter-regional projects
  • Largely uncoordinated and uncertain state-by-state permitting
  • Uncoordinated state public policy requirement
  • Nationally, climate is challenging for independent transmission
  • Lack of coherent national policy toward transmission infrastructure
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Positive Regulatory Outlook

  • Order No. 1000
      • Cost allocation
      • Planning, including bilateral markets
      • Compliance – 3 years
  • Merchant capacity allocation
  • Natural Gas/Electric Coordination
  • Overdue Focus on Infrastructure Needs
negative regulatory outlook
NegativeRegulatory Outlook
  • State law pushback:
    • Public Utility Status
    • Rights of First Refusal
  • Federal lands permitting processes
  • Pressure on FERC Equity Returns; evolving incentives policies
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Mixed Regulatory Outlook

        • State and Federal Siting Laws
    • Western Energy Imbalance Market
    • Possible regional compacts
prognosis
PROGNOSIS
  • Transmission investment remains lumpy; fate of renewables important; use of existing ROWs and smart technologies
  • Order No. 1000 implementation: lengthy & uncertain; first look at non-RTO planning, seams
  • 2013: worry about returns, federalism run amok
  • Big projects toughest; no mega-project overlays
  • Demand growth moderated by load reduction, DR, DG;
  • Incumbency still powerful; most IOUs’ focus within their footprint; transmission spin-offs not certain
contact information james j jim hoecker
Contact InformationJames J. “Jim” Hoecker

Husch Blackwell LLP

Former Chairman, Federal Energy Regulatory Commission

Counsel to WIRES

(WWW.WIRESGROUP.COM)James.hoecker@huschblackwell.com

202-378-2300