A Look Back at 2016: The Year of Transition
A tumultuous election year that was marked by market turmoil, the events of 2016 clearly showed that big change is afoot for the power sector.
Many of POWER‘s bold predictions for 2016, such as that the near-simultaneous surge in U.S. natural gas production and recent enactment of environmental rules would reshape the U.S. power sector, and that clean energy drivers would prompt diversification have come to be. But some events that have characterized 2016 were unprecedented and so significant, they are sure to send ripples well beyond 2017.
High Drama on the Legal and Regulatory Front
Twelve months ago, the power sector was emerging from the volatility of 2015, a year that was characterized by landmark decisions and rules, most prominent among them, the Environmental Protection Agency’s (EPA’s) promulgation of the final Clean Power Plan. In 2016, the legal and regulatory front saw tempered, albeit highly significant, activity.
None was as dramatic as the divided U.S. Supreme Court’s issuance in February of an unprecedented one-page order to stay implementation of the Clean Power Plan, pending a decision on its legality in the D.C.…