DOE Advances Three Corridors Closer to National Interest Electric Transmission Corridor Designation

On December 16, 2024, DOE advanced three high-priority transmission regions to the final stage of the process required to designate a National Interest Electric Transmission Corridor (NIETC). IRA section 50151 provided $2 billion to FERC to create a loan program to fund the construction of electric transmission facilities in accordance with the Federal Power Act. To be eligible, transmission projects must be sited within a designated NIETC as defined by 16 U.S.C. § 824p(a). Should any of these announced transmission regions receive a final NIETC designation, projects sited in the region could then apply for FERC Transmission Facility Financing under the IRA.