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November 4, 2022

EPSA Comments on Certain Energy Generation Incentives (relative to the Inflation Reduction Act) Treasury and IRS Request for Comments

By EPSA

Comments of the Electric Power Supply Association on the

Treasury Department and Internal Revenue Service

Request for Comments on Implementation of Public Law 117-169

(Notice 2022-49)

Venue: The Department of the Treasury and Internal Revenue Service

Reference: Notice 2022-49

Summary: EPSA filed in response to the Treasury/Internal Revenue Service Request for Comments on Certain Energy Generation Incentives regarding key provisions in the Inflation Reduction Act (IRA), specifically the IRA’s Addition of the Zero-Emission Nuclear Power Production Credit (§ 45U). EPSA recommend that Treasury/IRS sharpen and solidify guidance on the definition of gross receipts, take full account of programs providing governmental (out-of-market) support, and rely on a neutral, independent entity to certify § 45U credits for the purposes of payment reduction.