FERC Nominee Laura Swett on Energy Prices, Grid Demand, and Project Cancellations

Maintaining FERC Independence

• 🏛️ FERC's independence is critical because Congress explicitly carved it out of the DOE's jurisdiction in the 1978 DOE Organization Act, preventing DOE review of FERC actions.
• ⚖️ As a lawyer with 15 years of experience in FERC law, the nominee Laura Swett commits to adhering strictly to the statute and not exceeding the agency's given jurisdiction.
• 🤝 The independence of FERC is derived from its structure of five commissioners, each with an independent voice, requiring the nomination and confirmation of individuals who honor this independence and apply facts according to the law.

Rising Energy Demand and Grid Needs

• 📈 Household electric bills have increased by 10% nationally since the beginning of the current administration, a double-digit rise in less than a year, according to EIA data.
• ⚡ Former FERC Chairman Chatery emphasized the need for "every single available electron on the grid" to meet rising demand, particularly from data centers and artificial intelligence.
• 🔌 The grid requires more, not less, affordable and reliable energy to meet unprecedented demand increases, comparable to the onset of air conditioning.

Impact of Renewable Project Cancellations

• ⚠️ For the next several years, approximately 95% of projects slated to come onto the grid are wind, solar, and battery storage.
• ⏳ Other generation sources face significant delays: combined cycle natural gas has a 5-year waiting period, and nuclear generation can take up to 10 years due to permitting challenges.
• ❓ If this 95% of renewable generation were removed without replacement, the impact would be incredible increasing costs for consumers.

Nominee Commitments and Perspectives

• 💡 Laura Swett agrees that the grid needs more reliable generation and commits to thoughtfully ensuring sufficient generation is available to meet demand.
• 🔍 She will take a hard look at matters before her, including interconnection challenges, and work with colleagues to find solutions if confirmed.
• 🔌 Mr. Lassert commits to maintaining FERC's independence and an agnostic approach to generation technology in interconnection and permitting decisions, as required by law.
• 🧑‍⚖️ Lassert believes his lack of prior representation before FERC is a strength, offering a fresh perspective to combat potential regulatory capture, as noted by former Chairman Christie.