New York Poised to Close Last Coal-fire Power Plant

LCG, December 4, 2019--The last operating coal-fired power plant in New York is moving toward closure shortly. Last month, Somerset Operating Company, a subsidiary of Riesling Power LLC, submitted a request to the New York State Public Service Commission (NYSPSC) to waive the state's required, 180-day notice to close the Somerset Station, allowing the facility to be retired on February 15, 2020. Closure is contingent on approvals by both NYSPSC and the New York Independent System Operator (NYISO), which will evaluate if it will cause an adverse effect on grid reliability.

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Construction Commences on Enel’s Aurora Wind Farm in North Dakota

Enel Green Power North America, Inc. (“EGPNA”), the US renewable energy company of the Enel Group, has started construction of the 299-MW Aurora Wind Farm in North Dakota.

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Industry News

First Energy May Buy GPU in $12.2 Billion Deal

LCG, Aug. 7, 2000--Big Ohio utility First Energy Corp. is in talks to acquire GPU Inc. of New Jersey in a $12.2 billion deal that could be wrapped up as early as this week. The deal, if reached, would make First Energy one of the largest U.S. electric companies.

The acquisition would continue the consolidation taking place in the U.S. electric industry as a result of growing competition. At first, mid-sized utilities combined to become large enough to compete with the big companies. Now the big guns are combining their firepower.

American Electric Power Co. began the heavy duty mergers with its acquisition of Central and South West Corp. That was followed by the agreement to merge between Unicom Corp., parent of Commonwealth Edison Co., and Peco Energy Co. Last week, FPL Group announced that it would acquire Entergy Corp.

According to people familiar with the First Energy-GPU negotiations, First Energy would pay $4.5 billion in cash and stock for GPU and assume $7.7 billion in debt, but more clear terms of the deal were not known.

The boards of directors of both companies were expected to meet today to discuss the proposition.

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