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

North Carolina Approves CP&L-Florida Progress

LCG, Aug. 23, 2000--The North Carolina Utilities Commission yesterday approved CP&L Energy Corp.s pending acquisition of Florida Progress Corp. leaving only the Securities and Exchange Commission approval needed to complete the transaction.

The commission extracted some concessions from CP&L before giving the merger the green light. As part of the approval order, CP&L will provide a total of $29.5 million in rate reductions for its North Carolina customers. The reductions include rate cuts totaling $19.5 million over years 2002 to 2005 and a one-time reduction of $10 million in fuel costs to settle the fuel case for this year.

The commission also included a series of conditions designed to protect North Carolina customers from any adverse effects of combination of the two companies.

"The combination of CP&L and Florida Progress will benefit both customers and shareholders," predicted CP&L chief executive William Cavanaugh.

The companies expect to close the deal this fall.

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