Electricity and natural gas provider Constellation Energy said it will file comments on Aug. 8 with the Environmental Protection Agency (EPA) supporting the agency’s proposed guidelines to reduce carbon emissions from fossil fuel power plants.
The company will also provide suggestions on improving the proposed guidelines, the Baltimore, Maryland-based company said in a press release.
“Anyone who has lived through this record-shattering summer can plainly see that we need to move faster to address the climate crisis, and these guidelines offer a roadmap for the electric industry to step up its efforts,” said Joe Dominguez, president and CEO of Constellation. “Far from being too restrictive, the guidelines offer flexibility and build on technology and processes that the industry is already putting in use to great effect today.”
In the comments, Constellation said it presents a contrary view to the major electric producers. Dominguez said the company is “disappointed” to see its peers “working to block these very practical measures” instead of offering constructive solutions and moving the industry toward a carbon-free future.
The EPA’s proposal acknowledges the need for fossil fuels in order to maintain the energy grid, but also offers solutions to gradually lower emissions. The proposal leans on technologies such as clean hydrogen blending and carbon capture, utilization and storage to meet these standards. Constellation said it has already invested in some of those measures and set an industry record for blending hydrogen with natural gas at the Hillabee Generating Station in Alabama earlier this year.
Constellation is also an investor in NET Power Inc., which uses a technology capable of capturing nearly 100% of CO2 emitted by natural gas generation. Other major power producers have made similar investments, demonstrating that the industry is able to meet the EPA’s proposed timeline using existing technology.
Recommended Reading
Occidental Explores Sale of Permian Assets Worth Over $1B, Sources Say
2024-05-03 - Occidental Petroleum is exploring a sale of assets in the Barilla Draw region of Texas, which is located within the Delaware portion of the Permian Basin.
Marketed: Navigation Powder River Eight Leasehold Lots in Wyoming
2024-04-09 - Navigation Powder River has retained EnergyNet for the sale of eight non-producing federal leasehold lots in Converse and Campbell counties, Wyoming.
Making Bank: Top 10 Oil and Gas Dealmakers in North America
2024-02-29 - MergerLinks ranks the key dealmakers behind the U.S. biggest M&A transactions of 2023.
EIA: E&P Dealmaking Activity Soars to $234 Billion in ‘23
2024-03-19 - Oil and gas E&Ps spent a collective $234 billion on corporate M&A and asset acquisitions in 2023, the most in more than a decade, the U.S. Energy Information Administration reported.
Is Double Eagle IV the Most Coveted PE-backed Permian E&P Left?
2024-04-22 - Double Eagle IV is quietly adding leases and drilling new oil wells in core parts of the Midland Basin. After a historic run of corporate consolidation, is it the most attractive private equity-backed E&P still standing in the Permian Basin?