All electrons are not local: A commentary on the interplay of recent U.S. Supreme Court decisions and state efforts to guide local transitions to clean power

A consistent assumption is that the market structures approved by FERC as a means of achieving the ‘just and reasonable’ rates required under the Federal Power Act are the necessary proxy for allocating jurisdiction between FERC and the states in clean energy development. If capacity markets are ultimately determined not to sustain the levels of capacity needed for the electric grid to function reliably and generation capacity declines below the specified levels, the efficacy of this construct will be called into question.