J.S. Held energy transition expert John Dulude examines the impact of the clean energy transition on asset retirement obligations and environmental cleanup costs.
JERICHO, N.Y., June 6, 2024 /PRNewswire-PRWeb/ -- Global consulting firm J.S. Held, proudly celebrating 50 transformative years, announces the release of a new article by John Dulude, PE, MBA, Senior Vice President of Energy & Environmental Advisory, examining the impact of accelerated coal-fired power plant retirements driven by the clean energy transition.
Dulude, who has over 40 years of industry experience spanning hydroelectric, fossil, nuclear, wind and solar generation, as well as transmission facilities, explains that while converting electrical energy resources from carbon-based fuels to renewables is intended to provide societal benefits, it also comes with unexpected costs and challenges.
"The increasing pressure to convert resources is creating a significant cost to the owners, shareholders, and ultimately customers of carbon-based facilities, beyond the obvious expenses required to develop alternative forms of generation to replace carbon-based resources being retired," Dulude writes. "With the closure of these facilities comes the cost of the closure itself, including significant environmental cleanup outlays."
Dulude's article explores how accelerated plant closures are leading to unintended consequences as owners seek ways to cover environmental cleanup costs that outpace asset retirement obligations, including filing claims on historic insurance coverages.
J.S. Held's comprehensive energy transition services help clients navigate the complex process, from decommissioning and cleanup to impact assessment and permitting. J.S. Held's energy transition services are centered around three core areas of expertise:
1. Energy transition – helping clients navigate regulatory compliance, decommissioning, and cleanup when transitioning away from hydrocarbon-based power generation to sustainable energy sources. The firm's expertise includes managing the clean closure of coal combustion residual (CCR) recycle ponds, as demonstrated in a recent project where J.S. Held provided an innovative design that met EPA regulations while saving the client over $12 million.
2. Impact assessment – evaluating regulatory requirements, potential risks, and projected costs to help clients understand and improve the sustainability of projects involving site decommissioning, property acquisition, new construction, or replacement of existing operations.
3. Permitting – providing permitting support during due diligence when clients are acquiring new property or transitioning existing sites for new purposes.
"As more coal plants are retired, owners are looking for ways to manage costs and mitigate risks," said Dulude. "J.S. Held's multidisciplinary team of experts helps clients navigate the complex technical, regulatory, and financial aspects of the energy transition. Our innovative approach helps drive significant cost savings for our clients."
The full article, Impact of Forced Retirements of Carbon-Based Power Generation Creating Accelerated Environmental Cleanup Requirements, is available at https://jsheld.com/clean-energy-transition-and-asset-retirement-obligations.
Learn more about the dedicated and entrepreneurial experts who help transform J.S. Held, explore our story, and celebrate this momentous milestone, our 50 & Forward celebration, with us at jsheld.com.
About J.S. Held
J.S. Held is a global consulting firm providing technical, scientific, financial, and strategic expertise across all assets and value at risk. Our professionals serve as trusted advisors to organizations facing high-stakes matters demanding urgent attention, staunch integrity, proven experience, clear-cut analysis, and an understanding of both tangible and intangible assets. The firm provides a comprehensive suite of services, products, and data that enable clients to navigate complex, contentious, and often catastrophic situations.
More than 1,500 professionals serve organizations across six continents, including 81% of the Global 200 Law Firms, 70% of the Forbes Top 20 Insurance Companies (85% of the NAIC Top 50 Property & Casualty Insurers), and 65% of the Fortune 100 Companies.
J.S. Held, its affiliates and subsidiaries are not certified public accounting firm(s) and do not provide audit, attest, or any other public accounting services. J.S. Held, its affiliates and subsidiaries are not law firms and do not provide legal advice. Securities offered through PM Securities, LLC, d/b/a Phoenix IB, a part of J.S. Held, member FINRA/ SIPC or Ocean Tomo Investment Group, LLC, a part of J.S. Held, member FINRA/ SIPC. All rights reserved.
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