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Oil and gas companies, as well as wind and solar developers, say the language in the debt-ceiling bill aimed at speeding up the federal permitting process for large infrastructure projects is insufficient but Maybe Introduction to comprehensive legislation.
Reforms in the bill include revisions to the National Environmental Policy Act of 1970 that shorten the environmental permitting process to two years, and require projects to name a single lead agency that would develop one major environmental review document.
The bill also orders a study of US network capacity to determine what upgrades are needed to enhance reliability.
legislation He leaves many reforms on the tableMost notably, the construction of major power transmission lines.
One measure that did not survive was that all US grids must be able to divert at least 30% of their electricity demand to other grids; Instead, the bill requires that the case be studied for two years.
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Equitrans Midstream Partners (ETRN) appears to be the single largest winner from the debt ceiling deal, which shines light on the Mountain Valley pipeline development in West Virginia.
Equitrans (ETRN) said on Saturday that it expects to finish building the project by the end of this year with an estimated total project cost of $6.6 billion; Its stock has risen about 50% since initial news of the project’s inclusion in the debt deal.
