Although the Inflation Reduction Act's 45V tax credit was critical to its formation, the new utility hopes to avoid dependence on the federal incentive.
On Monday, the Office of Management and Budget ordered a freeze on nearly all federal grants and loans. A federal judge paused the administration's freeze until Feb. 3.
A state judge ruled the city had failed to demonstrate that ExxonMobil, Shell, BP and the American Petroleum Institute had deceived consumers about the climate impact of their fossil fuel products.