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ERCOT 2019 Summer Quarter Outlook

LCG, May 29, 2019-- LCG released a new summer (June – September 2019) report that looks at how the ERCOT grid copes with strained network conditions. Resource adequacy analysis for the region is especially important during extreme summer loading conditions. This summer the network is under particular scrutiny as the reserves have tightened because of recent retirements.

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South Field Energy Breaks Ground for 1,182-MW Power Plant

LCG, May 16, 2019--South Field Energy LLC announced yesterday its groundbreaking for an 1,182-MW, combined-cycle electric generating facility in Columbiana County, Ohio. The natural gas-fired facility is scheduled to commence operations in mid-2021 and represents a $1.3 billion investment.

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Industry News

FP&L Asks for 8.7 Percent Residential Rate Hike

LCG, Sept. 22, 2000In an effort to compensate for the soaring price of oil and an increase in natural gas prices, Florida Power & Light Co. has asked regulators for permission to increase the prices it charges customers for electricity.

FP&L said it had file an application yesterday with the Florida Public Service Commission for a fuel cost adjustment rate increase that would boost residential rates by 8.7 percent for two years. The company said it spread the cost increase over two years to lessen the immediate impact on ratepayers, but it did not promise not to come back next year and ask for another increase if its fuel costs keep on rising.

Each year, typically in September or October, Florida utilities adjust the fuel, environmental,purchased power and conservation components of the customer bill to true-up actual expenses for the past year and project expenses for the coming year. The adjustments, once reviewed and approved by the PSC, will appear on customer bills during the following calendar year. FP&L is asking that the increased costs be recovered over two years.

"Our plan includes spreading $518 million in unrecovered fuel expenses over a two-year period,rather than the typical one-year timeframe. This way, we are able to ease some of the impact of these extraordinary increases in fuel costs on our customers," said Paul Evanson, the utility's president.

The 8.7 percent increase will cost the typical FP&L residential customers almost six and a half bucks a month, the company said. And it figures that's all it can get away with. In its announcement, the utility said "As a further effort to lessen the impact of clause adjustments on customer bills, FPL has asked the PSC to spread the cost of a $222.5 million buyout of purchased power contracts with two Palm Beach county power plants over five years and delay the start of recovery from customers until2002."

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