Featured Stories
Sean Tonolli to Speak at Ethicsverse Day 2026
NEW YORK, July 23 [Category: BizLaw/Legal] -- Cahill Gordon and Reindel, a law firm, posted the following news:
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Sean Tonolli to Speak at Ethicsverse Day 2026
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Cahill partner Sean Tonolli will speak on the keynote panel "DOJ Insider Perspectives on the Current Regulatory Landscape" at Ethico's Ethicsverse Day 2026.
Sean will join fellow panelists Hui Chen (CDE Advisors) and Matthew Axelrod (Gibson Dunn) for a discussion on the enforcement landscape, including compliance program effectiveness, voluntary disclosure and cooperation, data and metrics, and common gaps between compliance
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NEW YORK, July 23 [Category: BizLaw/Legal] -- Cahill Gordon and Reindel, a law firm, posted the following news:
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Sean Tonolli to Speak at Ethicsverse Day 2026
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Cahill partner Sean Tonolli will speak on the keynote panel "DOJ Insider Perspectives on the Current Regulatory Landscape" at Ethico's Ethicsverse Day 2026.
Sean will join fellow panelists Hui Chen (CDE Advisors) and Matthew Axelrod (Gibson Dunn) for a discussion on the enforcement landscape, including compliance program effectiveness, voluntary disclosure and cooperation, data and metrics, and common gaps between compliancepractices and prosecutorial expectations.
Ethicsverse Day 2026 is a virtual event designed for compliance professionals, ethics officers, and industry leaders to explore the latest trends in ethical decision-making, regulatory updates, and AI integration in compliance programs.
To learn more about the event and register, click here.
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Original text here: https://www.cahill.com/news/events/2026-07-23-sean-tonolli-to-speak-at-ethicsverse-day-2026
Joel Kurtzberg and Landis Best Present the Supreme Court Roundup: Review of the 2025-2026 Term Webinar
NEW YORK, July 22 [Category: BizLaw/Legal] -- Cahill Gordon and Reindel, a law firm, posted the following news:
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Joel Kurtzberg and Landis Best Present the Supreme Court Roundup: Review of the 2025-2026 Term Webinar
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Cahill partners and co-chairs of the First Amendment & Media Litigation practice, Joel Kurtzberg and Landis Best will present the webinar "Supreme Court Roundup: Review of the 2025-2026 Term," examining the Supreme Court's 2025-2026 Term. The program will examine key decisions and trends, including the rejection of President Trump's sweeping global tariffs, the bounds of
... Show Full Article
NEW YORK, July 22 [Category: BizLaw/Legal] -- Cahill Gordon and Reindel, a law firm, posted the following news:
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Joel Kurtzberg and Landis Best Present the Supreme Court Roundup: Review of the 2025-2026 Term Webinar
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Cahill partners and co-chairs of the First Amendment & Media Litigation practice, Joel Kurtzberg and Landis Best will present the webinar "Supreme Court Roundup: Review of the 2025-2026 Term," examining the Supreme Court's 2025-2026 Term. The program will examine key decisions and trends, including the rejection of President Trump's sweeping global tariffs, the bounds ofthe President's authority to unilaterally remove heads of independent agencies such as the Federal Reserve, the return of the challenge to the administration's birthright citizenship executive order, and many other decisions on matters impacting society at large, such as voting rights, conversion therapy, and transgender athletic participation.
This program has been accredited with New York CLE credit in Professional Practice.
To learn more and register for this event, please click here.
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Original text here: https://www.cahill.com/news/events/2026-07-22-joel-kurtzberg-and-landis-best-present-the-supreme-court-roundup-review-of-the-2025-2026-term-webinar
MassMutual Research Reveals Most Americans Want Financial Guidance But Aren't Getting It
SPRINGFIELD, Massachusetts, July 18 (TNSrpt) -- Massachusetts Mutual Life Insurance Co. issued the following news release on July 17, 2026:
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New MassMutual Research Reveals Most Americans Want Financial Guidance but Aren't Getting It
2026 MassMutual Financial Habits Report finds that conflicting online information, myths about advisor minimums, and financial anxiety are leaving Americans underserved
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MassMutual released its 2026 Financial Habits Report today. Nearly two-thirds of Americans avoid important financial decisions due to anxiety or overwhelm. Yet 8 in 10 agree that working
... Show Full Article
SPRINGFIELD, Massachusetts, July 18 (TNSrpt) -- Massachusetts Mutual Life Insurance Co. issued the following news release on July 17, 2026:
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New MassMutual Research Reveals Most Americans Want Financial Guidance but Aren't Getting It
2026 MassMutual Financial Habits Report finds that conflicting online information, myths about advisor minimums, and financial anxiety are leaving Americans underserved
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MassMutual released its 2026 Financial Habits Report today. Nearly two-thirds of Americans avoid important financial decisions due to anxiety or overwhelm. Yet 8 in 10 agree that workingwith a financial advisor would help. The report surveyed 1,500 nationally representative Americans aged 25 and older. It examines how people make and avoid financial decisions amid information overload.
The report paints a clear picture: Americans want financial guidance but aren't getting it.
* A persistent myth drives this gap. Eighty-three percent of Americans believe advisors require a minimum amount of investable assets. More than half put that threshold at $50,000 or more. Vaughn Bowman, CFA, head of wealth management, MassMutual, refutes this: "You do not need a minimum balance to deserve a plan. Many people have an 'all or nothing; mindset, when in fact, some level of professional guidance is oftentimes better than none at all. Breaking up the planning process into digestible, specific steps can help small accomplishments lead to a sense of satisfaction -- and a desire to keep going and do more."
* Sixty-two percent of Americans say they at least sometimes avoid important financial decisions due to anxiety or overwhelm. While 82 percent agree it is helpful to work with a financial advisor and 81 percent say today's complexity makes expert advice even more valuable, only 34 percent have actually sought advice from a traditional financial advisor or planner in the past year. "People are researching, asking questions, and trying to make sense of a complicated landscape," says Bowman. "The opportunity -- and the responsibility -- is for financial professionals to meet them where they are and show them what a real plan looks like."
* Meanwhile, 74 percent of Americans say there is too much conflicting financial advice online. More than one-third have made at least one important financial decision influenced by social media content, 36 percent of whom later regretted it. "The assumption is that with more financial information at our fingertips than ever before, making smart financial decisions should be easier," say Bowman. "In reality, the opposite is often true. The sheer volume of information--and the conflicting advice people encounter--can leave people feeling overwhelmed and unsure of where to turn."
The data also reveals meaningful gaps in preparedness. More than half of Americans say they are behind on planning financially to protect against life's uncertainties. Only 34 percent feel prepared to manage a sudden inheritance or financial windfall, and 37 percent say nobody knows the details of their finances.
"Our research shows that the demand for credible, expert financial guidance has never been higher, and it's on all of us in the industry to help people cut through the noise and make informed decisions with confidence," concludes Bowman.
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REPORT: https://www.massmutual.com/global/media/shared/doc/2026_massmutual_financial_habits_report.pdf
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Original text here: https://www.massmutual.com/about-us/news-and-press-releases/press-releases/2026/07/new-massmutual-research-reveals-most-americans-want-financial-guidance
[Category: BizInsurance]
Herbert Smith Freehills Kramer Successfully Guides Client Through Class Action Which Failed to Meet Certification Criteria
NEW YORK, July 18 -- Herbert Smith Freehills Kramer LLP, a law firm, issued the following news:
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Herbert Smith Freehills Kramer successfully guides client through class action which failed to meet certification criteria
Herbert Smith Freehills Kramer has successfully represented Roland Europe Group Limited and Roland Corporation (Roland) in the dismissal of an application for a Collective Proceedings Order (CPO) and an award for their costs on the indemnity basis, the fourth time the firm has helped clients avoid the certification of a CPO application.
Elisabetta Sciallis, acting as Proposed
... Show Full Article
NEW YORK, July 18 -- Herbert Smith Freehills Kramer LLP, a law firm, issued the following news:
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Herbert Smith Freehills Kramer successfully guides client through class action which failed to meet certification criteria
Herbert Smith Freehills Kramer has successfully represented Roland Europe Group Limited and Roland Corporation (Roland) in the dismissal of an application for a Collective Proceedings Order (CPO) and an award for their costs on the indemnity basis, the fourth time the firm has helped clients avoid the certification of a CPO application.
Elisabetta Sciallis, acting as ProposedClass Representative (PCR), brought an application for a CPO against Roland, a leading manufacturer and distributor of electronic musical instruments, in the Competition Appeal Tribunal (CAT).
The application set out follow-on and standalone claims alleging damage to class members caused by resale price maintenance. The PCR also brought separate CPO applications against other musical instrument manufacturers (Fender, Korg, Yamaha and Casio) on a similar basis.
The PCR did not have a litigation funding agreement in place when the CPO applications were brought and did not subsequently secure one. The Tribunal agreed with HSF Kramer's arguments for Roland, as well as those of the other manufacturers, that in the absence of adequate funding arrangements the CPO applications should not be permitted to proceed. The PCR subsequently sought permission to withdraw the CPO applications and they were dismissed.
The CAT assessed the vast majority of Roland's costs of the proceedings on the indemnity basis. In particular, the CAT agreed with Roland's position that the PCR had acted unreasonably in failing to confirm that its negotiations with a potential funder (which were referred to in the CPO applications) had ceased in 2023. If the PCR had confirmed this promptly, the PCR's funding issues could have been brought to the CAT's attention much sooner than 2026, thereby reducing costs.
This is the fourth occasion since 2023 where HSF Kramer has successfully assisted clients in avoiding the certification of a CPO application, acting for Meta (in Gormsen) (certification initially refused but subsequently granted following amendment), Severn Trent (in Roberts) and Mitsubishi UFJ Financial Group (in Evans) in the other three cases.
The HSF Kramer team comprised partners Kim Dietzel, Gregg Rowan and Joe Williams, senior associate Ben Phillips and associate Phoebe Clifford.
Kim Dietzel comments: "We are proud to have supported Roland in these proceedings. The success here, following successes in other cases where certification has been avoided, underlines both our unparalleled experience of the CPO regime and our track record in securing crucial results for clients."
Further information on the CPO regime can be found in our certification tracker of UK competition class actions. This tracks the CPO applications filed at the CAT, including the certification status of those applications and certain key details about the nature of the claims.
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URL: Roland Europe Group Limited
URL: Roland Corporation
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Original text here: https://www.hsfkramer.com/news/2026-07/hsf-kramer-successfully-guides-client-through-class-action-which-failed-to-meet-certification-criteria
[Category: BizLaw/Legal]
Haynes & Boone: Ramish and Prince for Law360 - DOD's Cyber Certification Pause May Heighten FCA Risks
DALLAS, Texas, July 18 [Category: BizLaw/Legal] -- Haynes and Boone, a law firm, posted the following news:
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Ramish and Prince for Law360: DOD's Cyber Certification Pause May Heighten FCA Risks
By Daniel Ramish and Zachary Prince
In an article for Law360, Haynes Boone Partners Dan Ramish and Zach Prince examine the U.S. Department of Defense's decision to suspend Phase 2 of the Cybersecurity Maturity Model Certification (CMMC) program and what it means for defense contractors.
While the pause eliminates near-term third-party assessment requirements, Ramish and Prince explain that contractors
... Show Full Article
DALLAS, Texas, July 18 [Category: BizLaw/Legal] -- Haynes and Boone, a law firm, posted the following news:
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Ramish and Prince for Law360: DOD's Cyber Certification Pause May Heighten FCA Risks
By Daniel Ramish and Zachary Prince
In an article for Law360, Haynes Boone Partners Dan Ramish and Zach Prince examine the U.S. Department of Defense's decision to suspend Phase 2 of the Cybersecurity Maturity Model Certification (CMMC) program and what it means for defense contractors.
While the pause eliminates near-term third-party assessment requirements, Ramish and Prince explain that contractorsmust still comply with existing cybersecurity obligations under NIST SP 800-171 and continue to certify their compliance through self-assessments. They note that the shift away from third-party verification may actually increase False Claims Act (FCA) risk, as contractors' own representations regarding cybersecurity compliance will face greater scrutiny.
Read the full article below and on the Law360 website here (https://www.law360.com/articles/2502226).
DOD's Cyber Certification Pause May Heighten FCA Risks
On July 13, the U.S. Department of Defense released a memorandum and a request for information suspending Phase 2 of the Cybersecurity Maturity Model Certification program that would have required certified third-party assessments.[1] The memoranda explain both why the agency is taking this action and how it intends to implement the suspension.
As DOD Chief Information Officer Kirsten Davies wrote in the memorandum, "the current CMMC program is structurally incompatible with [the Department's] need to rapidly expand the [Defense Industrial Base)]."[2] The memorandum stated that the CMMC program as currently constituted "imposes significant and often prohibitive burdens on the [DIB], particularly the small and non-traditional businesses that are the engine of American innovation."
After years of iterative changes and a previous overhaul of the program, the DOD is once again reconsidering its approach to assuring adequate protection of controlled unclassified information, or CUI, on contractor information systems. A newly established CMMC reform task force is charged with recommending a framework that, in the memorandum's words, "replaces prohibitive, third-party compliance models with scalable, realistic security measures" -suggesting third-party certification may not return in its current form. CMMC 3.0 may be on the horizon.
Contractors must continue to comply with existing cybersecurity requirements during the suspension period. The CMMC Level 2 self-assessment clause will continue to be included in defense contracts involving CUI, requiring implementation of cybersecurity requirements known as NIST SP 800-171, notwithstanding the pause in third-party assessments.
Under CMMC Level 2 (Self), only a limited set of controls remains eligible for plans of action and milestones, or POA&Ms, in lieu of immediate compliance, and even those controls are subject to a 180-day closeout period.
In sum, contractors receive relief from third-party assessments, not from compliance itself or from the risks associated with noncompliance, including contract termination and False Claims Act liability. Indeed, FCA risk may become more pronounced during the suspension because contractors must affirm their conditional or final CMMC Level 2 (Self) status to remain eligible for covered contracts. Any overstatement in those affirmations could expose contractors to significant FCA liability.
CMMC's Verification and Full Compliance Components
The CMMC program was designed to verify that contractors are implementing the full set of NIST SP 800-171 cybersecurity controls. To accomplish that objective, CMMC incorporates two complementary features.
First, for most contractors handling CUI, it replaces the contractor self-attestation framework under Defense Federal Acquisition Regulation Supplement 252.204-7019 and 252.204-7020 with independent third-party assessments to verify implementation of the required controls.
Second, unlike the existing DFARS regime, which permits contractors to rely more broadly on POA&Ms, CMMC requires contractors to achieve full implementation of NIST SP 800-171, permitting POA&Ms only for a narrowly defined subset of controls that must be remediated within 180 days.
In short, CMMC strengthens both the verification mechanism and the expectation of full compliance established under the existing DFARS cybersecurity clauses.
The Phase 2 suspension affects only the first feature. It pauses third-party verification while leaving intact CMMC's more stringent compliance requirements, including the limited availability of POA&Ms.
Security Imperatives Versus Small Business Reality
There is an inherent tension between the need to safeguard CUI from adversaries and the need to avoid imposing undue cost and burdens on the small businesses that make up the majority of the defense industrial base.
Implementing the government-specific cybersecurity requirements of NIST SP 800-171 is challenging and expensive, typically requiring outsourced support, and presents a genuine barrier to entry into the defense market. These burdens have increased as NIST SP 800-171 has evolved. Revision 3 of the standard would be mandated under the proposed Federal Acquisition Regulation CUI rule that is part of a broader overhaul of the FAR.[3]
Meanwhile, the DIB, and particularly small business participation within it, has contracted significantly over the past 15 years.
The CMMC program did not resolve the inherent conflict between the need for heightened cybersecurity and the resource-intensive burden on small businesses. To the contrary, the CMMC rollout may have forced the conflict to come to a head.
As the CMMC program rollout began, there were signs that the DOD may have lacked confidence that the DIB would be able or willing to achieve full compliance. For example, while the CMMC rule at Title 32 of the Code of Federal Regulations, Part 170, contemplated that the CMMC clause would be included in all contracts involving CUI beginning in Phase 1, the corresponding DFARS implementation gave program offices and requiring activities discretion during the first three years of the rollout to determine whether a solicitation or contract would require a specific CMMC level.
The DOD components have also been urging prime contractors to obtain greater information and assurances from their supply chains regarding subcontractors' ability to comply with the CMMC requirements, compounding inconsistent messaging about the scope and urgency of these obligations. Anecdotal feedback from small businesses and nontraditional defense suppliers indicates that many remain far from full compliance.
At the same time, the DOD is attempting to reimagine government procurement to make government buying faster, with less red tape and more focus on achieving the warfighting mission. Expensive cybersecurity implementation is arguably in tension with this objective as well, and the DOD appears to be wavering on whether CMMC is workable as part of that vision.
The CMMC Phase 2 Pause
CMMC Phase 2, which had been scheduled to begin on Nov. 10, would have marked the point at which designated procurements could require as a condition of contract award CMMC Level 2 assessments completed by a certified third-party assessor organization or, where applicable, CMMC Level 3 assessment completed by the Defense Industrial Base Cybersecurity Assessment Center. In anticipation of that milestone, some program offices had already begun incorporating certain Phase 2 requirements into solicitations and contracts.
According to the DOD guidance, the suspension of CMMC Phase 2 affects solicitations, existing contracts and new awards as follows:
* Current solicitations: Program managers and requiring activities are directed to amend active solicitations to remove CMMC Level 2 and CMMC Level 3 requirements "as soon as practicable." These will presumably be replaced with CMMC Level 2 (Self).
* Existing contracts: Contracting Officers are directed to remove CMMC Level 2 and CMMC Level 3 requirements from existing contracts "via modification prior to the exercise of the next option period or during the next scheduled administrative modification." Again, CMMC Level 2 (Self) is the likely substitute in these contracts as well.
* New solicitations and contracts: The DOD components may designate only CMMC Level 1 or CMMC Level 2 self assessments. Separately, the DOD will continue to enforce baseline compliance through select government-led assessments -presumably Defense Industrial Base Cybersecurity Assessment Center medium or high assessments, already implemented under existing DFARS clauses. Level 2 (Self) is not a ceiling, however; the undersecretary's memorandum states that the Program Managers and requiring activities may require additional cybersecurity protections as commensurate with law and regulation."[4]
* Waivers: No CMMC waivers will be granted during the review period. Program managers must continue to identify information security requirements for planned contract efforts, but the case-by-case flexibility of the waiver process is suspended along with the phased rollout.
Takeaways for Defense Contractors
Defense contractors may not be subject to third-party verification requirements, at least in the near term, but achieving full compliance with NIST SP 800-171 Rev. 2 controls remains an urgent priority. Contractors should also consider taking steps toward NIST SP 800-171 Rev. 3 in anticipation of its potential adoption.
The DOD's commitment to full compliance has not wavered, and contractors' underlying cybersecurity obligations under DFARS 252.204-7012 and NIST SP 800-171 Rev. 2 remain unchanged. Notwithstanding the pause on third-party assessments, CMMC Level 2 still limits which controls can be deferred through POA&Ms, and requires that any such POA&Ms be closed out within 180 days. Addressing any gaps in implementation of NIST SP 800-171 Rev. 2 controls therefore remains essential to preserving eligibility for defense contracts and subcontracts involving CUI.
A shift back toward self-assessment places even greater weight on the accuracy of contractors' own compliance representations, which is precisely where FCA exposure arises. The U.S. Department of Justice has given no indication that it will relax enforcement of cybersecurity representations and requirements under its Civil Cyber-Fraud Initiative, as demonstrated by a recent series of FCA settlements involving cybersecurity representations.
Contractors should ensure that they have conducted appropriate self-assessments, that their scores are justified and well documented, and that they maintain sufficient evidence of their current system state before affirming.
One implementation detail left unaddressed in the memorandum is how subcontracts and supplier agreements should be modified to remove third-party and Defense Industrial Base Cybersecurity Assessment Center assessment requirements. Contractors should watch for further DOD guidance on this point.
What to Watch
Whether the DOD ultimately returns to third-party certification, adopts a different verification model or moves toward broader reliance on self-attestation remains to be seen. The 60-day review should provide greater clarity regarding the future of the DOD's cybersecurity and CMMC verification requirements.
The DOD is soliciting stakeholder input through its public request for information that seeks views on which current controls deliver meaningful risk reduction, and how commercial capabilities and self-attestation might anchor a reformed framework. These questions telegraph the likely direction of reform. Contractors with views on what should replace the current model should submit comments in response to the request by Aug. 14.
In the meantime, defense contractors performing contracts involving CUI should ensure that they have implemented all required cybersecurity controls under NIST SP 800-171 Rev. 2 or, where permitted, have documented any remaining deficiencies in POA&Ms and are working to remediate them within the required time frame.
Contractors should also ensure that their Supplier Performance Risk System self-assessment scores accurately reflect their current implementation status.
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Footnotes:
[1] Removing Barriers to DIB Expansion: Immediate Suspension and Strategic Review of Cybersecurity Maturity Model Certification Requirements (July 13, 2026), https://dowcio.war.gov/Portals/0/Documents/Library/CMMC-ReformMemo.pdf; Implementing Department of War Chief Information Officer's Suspension of the Advancement to Cybersecurity Maturity Model Certification Phase 2 Requirements (July 13, 2026), https://dowcio.war.gov/Portals/0/Documents/Library/ImplementingSuspensionCMMC-PhaseII.pdf ; Dep't of War, Request for Information: Reforming CMMC and Reducing Compliance Burden for the Defense Industrial Base (July 13, 2026), https://sam.gov/opp/89ef9bfb0834473791e991c712698d94/view.
[2] Removing Barriers to DIB Expansion: Immediate Suspension and Strategic Review of Cybersecurity Maturity Model Certification Requirements (July 13, 2026), https://dowcio.war.gov/Portals/0/Documents/Library/CMMC-ReformMemo.pdf.
[3] See Federal Acquisition Regulation: Revolutionary Federal Acquisition Regulation Overhaul Parts 1, 2, 4, 33, 39, 40, and 53, 91 Fed. Reg. 37,550 (proposed June 23, 2026).
[4] Implementing Department of War Chief Information Officer's Suspension of the Advancement to Cybersecurity Maturity Model Certification Phase 2 Requirements (July 13, 2026), https://dowcio.war.gov/Portals/0/Documents/Library/ImplementingSuspensionCMMC-PhaseII.pdf.
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Original text here: https://www.haynesboone.com/news/publications/ramish-and-prince-for-law360-dods-cyber-certification-pause-may-heighten-fca-risks
Hawaiian Electric Seeks to Expand Renewables, Energy Storage on Oahu, Hawaii Island and Maui
HONOLULU, Hawaii, July 18 -- Hawaiian Electric issued the following news release on July 17, 2026:
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Hawaiian Electric seeks to expand renewables, energy storage on Oahu, Hawaii Island and Maui
* Represents significant progress toward 100% renewable energy
* One of state's largest energy procurements ever
* Additional 500 MW of firm generation on Oahu to be sought
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Hawaiian Electric today submitted its Integrated Grid Planning Request for Proposals (IGP RFP), seeking plans for competitively priced renewable energy and storage for Oahu, Hawaii Island and Maui to meet customers' growing
... Show Full Article
HONOLULU, Hawaii, July 18 -- Hawaiian Electric issued the following news release on July 17, 2026:
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Hawaiian Electric seeks to expand renewables, energy storage on Oahu, Hawaii Island and Maui
* Represents significant progress toward 100% renewable energy
* One of state's largest energy procurements ever
* Additional 500 MW of firm generation on Oahu to be sought
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Hawaiian Electric today submitted its Integrated Grid Planning Request for Proposals (IGP RFP), seeking plans for competitively priced renewable energy and storage for Oahu, Hawaii Island and Maui to meet customers' growingenergy needs and modernize the generation fleet to drive down costs by reducing the use of oil for power generation.
Collectively, these projects comprise one of Hawaiian Electric's largest-ever energy solicitations. When completed, these projects will make significant progress toward the state's goal of using 100% renewable energy for power generation by 2045. Today is the deadline for submittal of the RFP solicitation as part of the company's planning process overseen by the Public Utilities Commission (PUC).
"Hawaii needs to move faster and we think our expedited procurement plan is the best way to drive competition, evaluate all options and more rapidly build a portfolio that meets the requirements of efficiency, reliability and lower carbon emissions and does it at the least cost," said Scott Seu, CEO of Hawaiian Electric. "This is one of the actions we're taking that will benefit our customers and our state sooner, not on some faraway horizon."
Hawaiian Electric is proposing four immediate action steps:
* Retiring aging power plants sooner by accelerating the addition of modern firm generation that can efficiently produce electricity 24/7 when variable resources like wind and solar aren't available.
* Launching one of the largest generation resource procurements in state history in a competitive bidding process to seek nearly 1,650 gigawatt-hours (GWh) of variable renewable energy (i.e. solar, wind,) 465 megawatts (MW) of grid forming resources (i.e. solar generation plus battery storage) and 111 MW of firm generating capacity, resources that can be available 24/7. Projects would be in service between 2031-2034.
* Seeking separate, expedited regulatory approval to expand the procurement for fuel-flexible firm generation resources on Oahu by up to an additional 500 MW. In a letter to the Public Utilities Commission, the company said it was seeking a "transparent, Commission-supervised forum" to evaluate the firm generation component within the broader portfolio of new resources without pre-determining its size or fuel requirement.
* Launching a request for proposals for all fuels by the end of 2026, including liquid and gaseous fuels, to provide a competitive evaluation of such measures as price, sourcing and environmental impact.
Oahu, home to nearly one million residents, uses more than 70% of the electricity generated in Hawaii. Electricity demand is growing at its fastest pace in two decades as transportation and industrial processes become increasingly electrified.
Hawaiian Electric emphasized that it remains open to a range of solutions to meet Hawaii's energy needs, including liquefied natural gas (LNG) for power generation.
"We believe natural gas could be a beneficial option for Hawaii if it can deliver value to our customers," Seu said. "At the same time, any such pathway must be evaluated transparently, rigorously, and independently through the PUC's process."
An affiliate of a Japan-based energy conglomerate announced its plan to create a separate regulated utility to build and operate what would be the biggest power plant on Oahu, fueled by LNG, with additional generating project investments to follow. This energy conglomerate notified the PUC it will seek approval of this project outside the longstanding competitive bidding structure.
If the PUC agrees to expand the scope of procurement in the upcoming competitive bidding process, the energy conglomerate's project could be considered as part of the overall portfolio of resources being sought.
"Having more options is always good and we welcome proposals by all developers to help find the optimal resource mix for Hawaii," Seu said. "We believe in an open competitive process as opposed to a sole-source, multibillion-dollar contract without seeing what else is out there to ensure we're getting the best outcome for Hawaii today and for decades to come."
Interested developers can find more information on Hawaiian Electric's website about the company's competitive bidding process. Information about the RFP regulatory proceeding can be found on the PUC website under docket number 2024-0258.
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Original text here: https://www.hawaiianelectric.com/hawaiian-electric-seeks-to-expand-renewables-energy-storage-on-oahu-hawaii-island-and-maui
[Category: BizEnergy]
Duke Energy Carolinas Reaches Agreement With North Carolina Public Staff and Other Stakeholders to Deliver a Lower-Cost Path to Power North Carolina's Future
CHARLOTTE, North Carolina, July 18 -- Duke Energy issued the following news release:
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Duke Energy Carolinas reaches agreement with North Carolina Public Staff and other stakeholders to deliver a lower-cost path to power North Carolina's future
* Customer and stakeholder feedback informs more cost-effective way to reliably serve North Carolina's customers
* Duke Energy will contribute $10 million to help customers most in need
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After listening carefully to customer and stakeholder feedback, Duke Energy Carolinas and stakeholders have reached an agreement that will allow the company to
... Show Full Article
CHARLOTTE, North Carolina, July 18 -- Duke Energy issued the following news release:
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Duke Energy Carolinas reaches agreement with North Carolina Public Staff and other stakeholders to deliver a lower-cost path to power North Carolina's future
* Customer and stakeholder feedback informs more cost-effective way to reliably serve North Carolina's customers
* Duke Energy will contribute $10 million to help customers most in need
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After listening carefully to customer and stakeholder feedback, Duke Energy Carolinas and stakeholders have reached an agreement that will allow the company tocontinue building the infrastructure needed to reliably serve North Carolina while reducing the proposed rate increase by more than half.
The changes are reflected in a new agreement between the company and North Carolina Public Staff, the agency representing utility customers. Other parties to the agreement include Carolina Industrial Group for Fair Utility Rates, Carolina Utility Customers Association, North Carolina Sustainable Energy Association and Walmart, with others expected to join in the coming days.
Our view: "In light of the cost pressures our customers are facing, along with continued conversations with other stakeholders, we felt we had to do more," said Kendal Bowman, Duke Energy's North Carolina president. "We appreciate our stakeholders' engagement in finding a path that allows us to more cost-effectively serve the Tar Heel State. Our shareholders will also contribute $10 million to low-income bill assistance and weatherization programs - over and above our existing funding - which will make a real difference for customers who need help the most."
The company agreed to pursue similar terms for its Duke Energy Progress customers.
Agreement summary:
* If approved by the North Carolina Utilities Commission (NCUC), the result is an average annual increase of 3.7% over two years.
* 9.8% return on equity and 53% equity component of the capital structure.
* New Multiyear Rate Plan (MYRP) refund rider will return money to customers, with interest, if planned infrastructure upgrades are not completed on time.
* Reduced customer costs for Belews Creek reliability upgrades due to federal funding.
Why it matters: Since the request was initially filed last November, customers have made clear they're struggling to pay their bills, and Duke Energy has responded.
"We've agreed to reduce rates even more than in our prior settlements, while still allowing us to make vital infrastructure investments to meet existing and future customer needs," said Bowman. "Our duty is to protect reliability at the lowest possible cost, and we believe this agreement achieves that balance."
What's next: NCUC will consider the agreements and make the final decision - if approved, new rates will go into effect Jan. 1, 2027.
Duke Energy Carolinas serves about 2.3 million households and businesses in central and western North Carolina, including Charlotte, Durham and the Triad, while Duke Energy Progress serves about 1.6 million customers in central and eastern North Carolina and in the Asheville region.
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Duke Energy Carolinas
Duke Energy Carolinas, a subsidiary of Duke Energy, owns 20,800 megawatts of energy capacity, supplying electricity to 3 million residential, commercial and industrial customers across a 24,000-square-mile service area in North Carolina and South Carolina.
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Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.
Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs.
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Original text here: https://news.duke-energy.com/releases/duke-energy-carolinas-reaches-agreement-with-north-carolina-public-staff-and-other-stakeholders-to-deliver-a-lower-cost-path-to-power-north-carolinas-future
[Category: BizEnergy]
