Grid Reliability Act of 2014 - Amends the Federal Power Act, with respect to temporary connection and exchange of facilities during an emergency, to direct the Federal Energy Regulatory Commission (FERC), if an order conflicts with any federal, state, or local environmental law or regulation, to ensure that the order: (1) requires generation, delivery, interchange, or transmission of electric energy only during hours necessary to meet the emergency and serve the public interest; (2) is consistent, to the maximum extent practicable, with federal, state, or local environmental law and regulations; and (3) minimizes any adverse environmental impacts.

Shields from either civil or criminal liability, including a citizen suit under environmental law or regulation, those actions or omissions taken by a party to comply with an order issued pursuant to this Act, even if the order is subsequently stayed, modified, or set aside by a court.

Declares that an order issued under this Act which may conflict with federal, state, or local environmental law or regulation expires within 90 days after its issuance date.

Authorizes FERC to renew or reissue an order for subsequent 90-day periods if necessary to meet the emergency and serve the public interest.