Energy Parity Act

The Energy Parity Act requires that any reduction in capacity fees for wind and solar energy projects must be matched by an equivalent reduction in royalty rates for oil and natural gas leases. It lowers the minimum royalty rate for onshore oil and gas leases from 16.67% to 12.5% and adjusts minimum bid and rental rates (e.g., reducing the minimum bid from $10 to $2 per acre for two years). The bill also directs the Bureau of Land Management to reissue a proposed rule on renewable energy leasing within 120 days of enactment. These changes directly affect federal leaseholders for oil, gas, and renewable energy projects.