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FERC Proposes NEPA Revisions to Streamline Air Quality Analyses and Accelerate Natural Gas Projects

LCG, October 16, 2026--The Federal Energy Regulatory Commission (FERC) announced on Thursday its new proposal to revise and accelerate its review of air quality effects for proposed natural gas projects under the National Environmental Policy Act (NEPA). The draft policy statement highlights revisions designed to (i) avoid unnecessary delays and duplicative analysis and (ii) deliver greater regulatory certainty and a streamlined path forward for project applicants.

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AEP Announces 702-MW Bloom Fuel Cell Project to Serve Google in Wyoming

LCG, October 14, 2026--American Electric Power (AEP) today announced plans for a 20-year power purchase agreement (PPA) with Google, under which AEP will invest approximately $4 billion to advance a new 702-MW fuel cell generation project located near Cheyenne, Wyoming. Google will acquire power from Cheyenne Fuel Cell, LLC, which is approximately 92 percent owned and controlled by AEP and 8 percent owned by funds advised by Basalt Infrastructure Partners, LLP. AEP and its partners plan to start construction this year and to be fully operational by the end of 2028.

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Industry News

Pepco to Acquire Conectiv for $2.2 Billion

LCG, Feb. 12, 2001-- Potomac Electric Power Co. said this morning it would acquire Conectiv Inc. for $2.2 billion in cash and stock, in a deal that will make the new company the mid-Atlantic region's largest electric utility.

EnergyOnline Daily News reported Friday that the two companies were close to a deal. The $2.2 billion sale price values Conectiv at $25 per share of common stock, a 16 percent premium over Friday's closing price on the New York Stock Exchange.

Conectiv had quietly shopped itself around for several months, but had developed little interest from potential merger partners or buyers.

John Derrick, chairman and chief executive of Pepco, will retain those positions in the new company. Howard Cosgrove, his counterpart at Conectiv will retire.

Pepco said it will cut its annual dividend by 40 percent, from $1.66 to $1.00, effective with the June dividend. The company said the lower dividend was consistent with the payout of other electric distribution companies and the money saved was necessary for growth in an increasingly competitive industry.

Pepco said it expected necessary regulatory approvals to take about a year.

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