JEA Board Approves Transaction with FPL to Close 848-MW Coal Unit in Georgia

LCG, June 30, 2020--The JEA Board of Directors in a special meeting last Friday unanimously approved a transaction that will result in closing an 848-MW unit at Plant Scherer and entering into a 20-year purchase power agreement (PPA) with Florida Power & Light Company (FPL).

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Analysis of Resource Adequacy in ERCOT - July - December 2020

LCG, June 30, 2020 - LCG Consulting just released its analysis of ERCOT for the second half of 2020, July through December.

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Industry News

AEP Receives Approvals to Proceed with 1,485-MW North Central Wind Projects

LCG, May 29, 2020--American Electric Power (AEP) announced that it now has received approvals to purchase the entire planned 1,485 MW of wind generation located in north central Oklahoma. AEP will invest approximately $2 billion in this new renewable energy to serve its Southwestern Electric Power Company (SWEPCO) and Public Service Company of Oklahoma (PSO) customers.

AEP's chairman, president and chief executive officer stated, "Today's decision by the Louisiana Public Service Commission enables us to move forward with the North Central wind projects at full scale and invest in low-cost wind energy to benefit our customers in Arkansas, Louisiana and Oklahoma. As AEP continues to add new clean energy to our generation portfolio, this investment is expected to save our customers approximately $3 billion over the next 30 years while supporting economic development in our communities. We will continue to seek approval to provide a share of this renewable energy to our SWEPCO customers in Texas, as we believe the projects offer significant benefits to customers across our SWEPCO footprint."

The North Central wind projects, developed by Invenergy, consist of three facilities: Sundance (199 MW), Traverse (999 MW), and Maverick (287 MW). The estimated capacity factor for the wind farms is 44 percent. Sundance is expected to be completed by the end of 2020, and the other two projects will be completed by the end of 2021.

AEP's regulated integrated resource plans (IRPs) call for installing over 8,000 MW of wind and solar and 1,600 MW of natural gas between 2020 and 2030, and proceeding with the installation of 1,485 MW of new wind turbine capacity will be a significant step toward implementing those plans.

The Louisiana Public Service Commission Wednesday approved a settlement agreement that authorizes SWEPCO to add 810 MW of wind energy to serve its customers. The Commission approved an option that could increase Louisiana's allocation to an estimated 464 MW from the original 268 MW, if Texas does not also approve the SWEPCO proposal. The Arkansas Public Service Commission also accepted an option to increase its allocation when it approved the project earlier this month. The project remains under regulatory review in Texas, and SWEPCO will continue to seek that approval to allocate some of this renewable energy to benefit its customers in Texas.

PSO received final Oklahoma Corporation Commission approval February 20, 2020, of a settlement agreement to acquire 675 MW of the project. The Federal Energy Regulatory Commission (FERC) also has approved the acquisition.

AEP's SWEPCO and PSO operating units announced July 15, 2019, that they would seek regulatory approvals to purchase the three wind projects.
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