social cost of carbon

Episode 22 (Morgan You Bargained For)

Jul 7, 2021 |

In which we sit down with Curt Morgan, the president and CEO of Vistra Corp., to discuss his investment philosophy in the power-generation business, the current investment status of generation technologies, how financial markets are disciplining the industry and leading the ESG revolution, the “terminal value” issue with gas-fired generation and why you never want to be the first owner of such a facility, gas pipelines’ dirty little secret, the reality of climate change, putting the power-industry transition into historical perspective, how PJM’s markets have performed, why power markets need to ditch some terminology as they add emissions to their list of must-haves, why carbon pricing and PJM’s MOPR are DOA and ERCOT turning gun-shy.

Episode 20 (Glick 2: A Change Is Gonna Come… No Really, Like Now)

Apr 13, 2021 |

In which we take a second crack at recently appointed FERC Chairman Rich Glick as he settles into his new role, and he is very clear in setting his agenda: changes are coming – and some are already here. Less than three months into his leadership, Glick’s FERC has already announced more than a dozen major changes and initiatives, some of which touch on hot-button issues – like system reliability and resource adequacy in relation to climate change – and others that focus squarely on them, such as creating a new senior-level commission position to address environmental justice and opening an Office of Public Participation.

From PJM’s minimum offer-price rule (MOPR) to the standards for evaluating proposals for natural-gas pipelines to how power generators are compensated and whether capacity markets are essential, the chairman goes on to lay out his vision and plans going forward, as well as expected timelines. We also discuss his beloved New York Mets, his abysmal record in picking this year’s March Madness winners and his expectations on energy-related legislation coming out of Congress this session. Shorter than many of our episodes, let’s just call this one “highly concentrated” and well worth the time!

Episode 14 (What Would Cheryl Do?: The Game Show)

Oct 14, 2020 |

In which we pressure Cheryl LaFleur, the former-FERC commissioner and current distinguished visiting fellow at Columbia University’s Center on Global Energy Policy, for hot takes on her fields of expertise – specifically the ones where her beloved New England Patriots are playing. Hustling as efficiently as a Tom Brady two-minute drill, we also go deep into the nuances of carbon pricing, how annoying fellow former-FERC Commissioner Rob Powelson was, the importance of not imputing bad intent from colleagues, maintaining FERC/state relationships, ensuring someone is responsible for and authorized to maintain reliability (we’re looking at you, California…), the ongoing transition to the grid of the future, being put in “the odd position of trying to explain climate skepticism” and the idyllic atmosphere for a dirty vodka martini. Don’t miss a minute!

Episode 10 (Primetime Glick! FERC-Style)

Jun 25, 2020 |

In which we spend quality time with the lone Democrat at FERC, Commissioner Richard Glick, who delves deep into his relationship with the three Republicans on the Commission, how he approaches the fraught dynamics of maintaining personal relationships with coworkers with whom he’s ideologically opposed, his thoughts on minimum offer-price rules (MOPRs), his preference for a national carbon price, why the social cost of carbon should be included in judging the value of proposed pipeline projects, why sports fanaticism is the workplace is a good thing and, finally, the many contributions of the late, great George Carlin.

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