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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

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). Since 1989, JEA and FPL have jointly owned Unit 4, with JEA's portion being 198 MW. The coal-fired power plant is located near Macon, Georgia, and operated by a Southern Company subsidiary, Georgia Power Company. The effective date of transaction(s) are/is expected to be no later than January 1, 2022.

JEA expects that, by replacing power from the coal-fired unit and entering into this agreement, JEA will lower operating costs, substantially reduce operating risks, and reduce CO2 emissions by approximately 1.3 million tons per year. The transaction also provides a pathway to significant expansion of solar energy in the near future.

JEA's interim CEO and Managing Director stated, "This has been a successful mutually beneficial partnership and is just one of such joint asset ownership and operating agreements between JEA and FPL, including the St. Johns River Power Park and 500 kv transmission lines. While the past several years have presented challenges and difficult circumstances, with the JEA sale process over and behind us, the time is right to focus on future operating partnerships. We continue to create value for both utilities and extend our strong operating relationship with FPL."

The remaining three units at Plant Scherer will have a combined capacity of 2,673 MW. These three units are owned by Georgia Power, Oglethorpe Power Corporation (OPC), the Municipal Electric Authority of Georgia (MEAG) and the city of Dalton, Georgia. Georgia Power began operation of the facility's first unit in 1982.
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