“The lack of clarity on future EPA mandates increases uncertainty and makes it more difficult for power companies to determine their most appropriate and cost-effective generation mix,” Moody’s said.

The U.S. Supreme Court’s June 28 decision to overturn the Chevron doctrine creates legal and regulatory uncertainty for regulated utilities, according to Moody’s Ratings.

“The potential for protracted court proceedings, continued ambiguity in Congressional legislation, uncertainty over post-2024 election priorities and planning for generation needs will be more challenging for regulated utilities and other power companies,” Moody’s said in a comment released Thursday.

Even so, it’s unlikely the Chevron decision will significantly affect regulated utility investment plans because most environmental and carbon reduction requirements are driven by state mandates, according to the ratings agency.

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For more on the interaction of the government and the utility industry, check out the DoE’s efforts to enhance the grid, more discussion on the Supreme Court’s Chevron decision, and the DoD partnering with Duke Energy.