New York Incorporates SCC into Proceeding on Reforming the Energy Vision
Clean Energy Standard/Zero Emission Credits Program
New York’s Clean Energy Standard and accompanying Zero Emissions Credit (“ZEC”) take into account the SCC in calculating the value of using emission-free nuclear power, rather than carbon-emitting fossil fuel power. 1
$32.47 per short ton CO2e 2
New York Public Service Commission Case No. 14‐M‐0101
The program follows from the governor’s clean energy plan, for which the state Public Service Commission is required to take reasonably consistent actions. 3
The PSC’s approach for calculating the SCC was upheld in June 2017 by the United States District Court for the Southern District of New York. 4 The case was appealed to the Second Circuit Court of Appeals. The Second Circuit upheld the district court's decision. The Supreme Court of the State of New York also upheld the PSC's decision to use the SCC and calls it "the best tool to reflect the environmental monetary damages" from greenhouse gas emissions. 5
First state with zero emission credits based on IWG SCC.
- See Proceeding on Motion of the Commission in Regard to Reforming the Energy Vision, New York Public Service Commission Case No. 14‐M‐0101, Institute for Policy Integrity Comments on Staff White Paper on Benefit‐Cost Analysis in the Reforming Energy Vision Proceeding, Filing No. 447, at 22 (Aug. 21, 2015). ↩︎
- New York State Department of Public Service’s Staff White Paper on Benefit‐Cost Analysis in the Case No. 14‐M‐0101, Proceeding on Motion of the Commission in Regard to Reforming the Energy Vision ↩︎
- See New York Energy Law § 6-104(5)(b); Proceeding on Motion of the Commission to Implement a Large-Scale Renewable Program and a Clean Energy Standard, New York Public Service Comm’n Case No. 15-E-0302, Order Establishing a Clean Energy Standard 22 (Aug. 1, 2016). ↩︎
- Coalition for Competitive Electricity et al v. Zibelman et al (S.D.N.Y., Jul. 27, 2017). ↩︎
- In the Matter of Hudson River Sloop Clearwater, Inc., et al. v. NYSPSC, et al. (N.Y. Sup. Ct., Oct. 8, 2019). ↩︎
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