Energy In-depth: MISO says power grid economic benefits top $2.6 billion

Editor’s note: Each Friday, Talk Business & Politics provides “Energy In-depth,” a round-up of energy and regulatory news. –––––––––––––––––
MISO: POWER GRID ECONOMIC BENEFITS TOP $2.6 BILLION
Regional grid operator MISO said it delivered $2.6 billion in economic benefit to its customers in 2015. As a regional transmission organization, the Midcontinent Independent System Operator (MISO) is responsible for the reliable operation of the transmission network across 15 states and the Canadian province of Manitoba. By centrally managing the system, MISO pools resources to drive efficiency and ensure reliability at the lowest cost to consumers. Additionally, as an independent not-for-profit, MISO focuses on ensuring that the transmission system is being used as efficiently as possible.

In December, MISO’s board of directors approved a $2.7 billion expansion plan across the grid operator’s 15-state footprint, including $170 million in investments that will go toward upgrading Arkansas’ aging electricity infrastructure.

OBAMA, TRUDEAU COMMIT TO REDUCE METHANE EMISSIONS
President Barack Obama and Canadian Prime Minister Justin Trudeau issued a statement Thursday (March 10) saying the U.S. and Canada will work together to implement the historic Paris Agreement, and commit to join and sign the pact as soon as feasible. In the statement, the two leaders commit to take action to reduce methane emissions from the oil and gas sector in support of each country’s respective international commitments from the Paris climate change talks.

Both Obama and Trudeau agreed to move forward with reducing methane emissions by 40-45% below 2012 levels by 2025 from the oil and gas sector, and explore new opportunities for additional reductions and collaboration on other clean air initiatives. Immediately after the announcement, the American Petroleum Institute called the Obama administration’s methane rules unnecessary, and said additional rules could put the U.S.’s “shale energy revolution at risk.”

STEPHENS HIRES NEW DIRECTOR TO HEAD DALLAS-BASED ENERGY INVESTMENT GROUP
Stephens Inc. has hired Charles “Charlie” M. Lapeyre as Managing Director and Head of the A&D (acquisition and divestiture) effort for the Little Rock firm’s energy investment banking group. He will be based in Stephens’ Dallas office. Lapeyre comes from Virage Energy Group LLC, a Dallas based advisory firm he founded in 2012, focused on A&D advisory services for middle market independent energy companies engaged in upstream oil and gas transactions.

Earlier in his career, Lapeyre held various senior business development, financial, and technical (petroleum engineering) roles with Merit Energy Co. in Dallas, Torch Energy Advisors Inc. of Houston) and Los Angeles-based ARCO International. He has a BS in Petroleum Engineering from the University of Tulsa and an MBA with high honors from the University of Texas at Austin.

AEDC, ENERGY GROUP ENGAGED IN PRELIMINARY TALKS ON $3.7 BILLION PINE BLUFF PROJECT
Arkansas Economic Development Commission chief Mike Preston and officials with Energy Security Partners LLC confirmed this week that they’ve engaged in preliminary talks concerning what would be the nation’s first full-scale gas-to-liquids project but have not been able to reach an agreement concerning possible incentives from the state to help fund the $3.7 billion processing facility. Highway officials are also working with the business group too. Read an update here on the status of this high-profile energy project.