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Offshore Wind Projects Receive Boost from Massachusetts and Biden Administration

LCG, March 31, 2021--The Governor of Massachusetts signed legislation last Friday that authorizes the state to direct utilities to purchase an additional 2,400 MW of offshore wind energy by 2027.

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NV Energy's Greenlink Nevada Transmission Project Approved by PUCN

LCG, March 25, 2021--The Public Utilities Commission of Nevada (PUCN) on Monday approved proceeding with NV Energy's Greenlink Nevada transmission and renewable energy initiative. NV Energy's planned investment in Greenlink is over $2.5 billion.

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Industry News

Court Ruling May Boost TXU Stranded Cost Recovery

LCG, Aug. 31, 2000A partial ruling yesterday by a Texas court could nearly quadruple the amount of stranded costs eligible for securitization by TXU Electric Co., the company said in a news release. TXU Electric is an operating subsidiary of TXU Corp.

The partial ruling by the Travis County Texas District Court reversed a portion of an order by the Public Utility Commission of Texas that used asset life for purposes of setting the value of strandable assets. That would essentially be depreciated book value based on straight-line depreciation over the life of an asset, which can be as long as 40 years.

The court believed that such valuation did not conform to securitization provision of the Texas electric industry restructuring law enacted last year, saying a present value period based upon stranded cost and regulatory asset recovery periods authorized under the restructuring statute should have been used.

TXU was careful to point out that the court did not set the valuation period to be used, but said that if the PUCT should use the alternative 12-year discounting period contained in its financing order, the amount to be securitized by TXU Electric would increase to $1.3 billion from $363 million.

The District Court indicated that it intended to enter a written final judgment September 5. TXU Electric said it will probably appeal the District Court's final judgment directly to the Texas Supreme Court.

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