Companies worldwide are considering setting greenhouse gas (GHG) emissions targets to help achieve the international climate goals of the Paris Agreement. Science Based Targets Initiative (SBTi) target setting approaches are frequently discussed and even requested by stakeholders. Understanding of SBTi approaches is necessary for informed engagement and decisions. SBTi recently proposed a new approach for power sector utilities. Drawing on EPRI’s expertise in the relevant science, this publication provides the technical understanding needed for informed dialogue on the SBTi’s proposed new approach. The document discusses technical features and technical issues important to understanding, interpreting, and engaging on the proposed standard. A key finding is that the underlying methodology concept and inner-workings, including its reliance on problematic sectoral benchmarking, are unchanged from the previous version and not scientifically well-grounded. In addition, the methodology is not designed to help companies or economies find low-emissions transition solutions. Overall, the draft methodology does not appear to be ready for public comment, with many elements noted as under consideration and, therefore, what is being proposed is not fully defined.