On December 18, H.R. 4776, the Standardizing Permitting and Expediting Economic Development Act – or SPEED Act – was passed by the U.S. House of Representatives with bi-partisan support. Not yet law, the act still needs approval from the Senate and the President.
The purpose of the act is to streamline and modernize the National Environmental Policy Act (NEPA) review process, reducing delays and costs for large-scale energy and infrastructure projects.
Support for the SPEED Act
According to the American Public Power Association (APPA), the SPEED Act, also known as the Reliable Power Act “would give the Federal Energy Regulatory Commission (FERC) a formal role in determining, and mitigating, the potential reliability impacts of federal regulations whenever the North American Electric Reliability Corporation finds that the bulk-power system is at risk.”
Supporters argue the SPEED Act will accelerate construction of pipelines, power infrastructure, and other projects by limiting duplicative environmental reviews and reducing litigation. Eleven Democrats joined all but one Republican in passing the act.
Possible Problems with the Act and Room to Improve
Critics warn the act weakens environmental protections and could make it easier for polluting projects to advance without accountability. It could encourage traditional energy infrastructure at the expense of clean energy projects. The American Clean Power Association (ACP) withdrew their initial support after some last-minute amendments blocked offshore wind projects, even after they were initially approved. ACP is calling for a technology-neutral approach before the act becomes law.
MCG Energy will continue to follow the story as it progresses.
David Peterson, Ph.D. is the content specialist for MCG Energy Solutions.