Hoeven Statement on Great River Energy Announcement
WASHINGTON – Senator John Hoeven, a member of the Senate Energy and Natural Resources Committee, today released the following statement after Great River Energy announced upcoming changes to its power supply portfolio, including its intent to retire the Coal Creek Station in 2022 and repower the Spiritwood Station. GRE noted that it is willing to consider opportunities to sell the plant.
“We are disappointed that Great River Energy has decided not to continue its operation of the Coal Creek Station,” said Hoeven. “The Coal Creek Station has provided affordable and reliable power to the grid for decades. We have been and will continue to work on all options to keep it in operation beyond 2022. That includes continuing to work with North American Coal and others to find another owner. At the same time, we will continue working to ensure that coal is fairly valued as a baseload source of power and to get Treasury to finalize and implement the 45Q tax credit, which is an important tool and will help to make carbon capture technologies commercially viable and help to repower the Spiritwood Station.”
Fairly Valuing Coal
Hoeven has been working to ensure coal’s role as a reliable source of baseload power is properly valued. To this end, Hoeven:
- Has been making the case with the Federal Energy Regulatory Commission (FERC), including with FERC Chairman Neil Chatterjee, stressing that the grid is being forced away from baseload resources like coal and outlining the need to maintain diverse sources of electricity.
- Introduced an amendment, along with Senator Kevin Cramer, to repeal the one-year extension of the Wind Production Tax Credit (PTC).
- Worked to provide much-needed regulatory relief for the nation’s energy producers, including repealing burdensome rules on coal and lignite producers. Among other things, the senator:
- Supported implementation of the Affordable Clean Energy (ACE) rule, which replaced the costly one-size-fits-all emissions regulations for coal power plants issued by the previous administration.
- Voted to uphold the ACE rule when a resolution to overturn it was brought up for consideration by the Senate in October.
Implementing 45Q Tax Credit
Hoeven previously supported legislation to reform and expand the 45Q tax credit, which will help make CCUS projects more commercially-viable. Following this, the senator:
- Worked with the administration to advance the first two pieces of key guidance on the implementation of the 45Q tax credit.
- Continues urging the administration to issue the third and final piece of the 45Q rules as soon as possible, including with Treasury Secretary Steven Mnuchin and Energy Secretary Dan Brouillette.
- Is pressing to ensure the tax credit works for both long-term storage and enhanced oil and gas recovery, similar to his CO2 Regulatory Certainty Act.
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