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

KCP&L Sells Some Colorado Gas Assets

LCG, Sept. 21, 2000--Kansas City Power & Light Co. said yesterday hat its natural gas development subsidiary would sell about 24,000 acres of producing natural gas properties to EvergreenResources Inc. for $70 million in cash, $100 million in mandatory redeemable preferred stock and $6 million in Evergreen common stock.

The properties KLT Gas Inc. has agreed to sell to Evergreen are located in the Raton Basin of Colorado and represent about fifteen percent of the Company's current natural gas development acreage, the company said.

Gregory J. Orman, chief executive of KLT, said "We have developed these properties to the stage where they are an excellent fit for the buyer, which has allowed us to sell the assets and redeploy the capital in other high growth opportunities."

The transaction will produce a gain of between 60 cents and 80 cents per share for KCP&L, depending on accounting treatment. Bernie Beaudoin, president of the Kansas City utility, said "The significant gain on the sale of these properties demonstrates our ability to create value. We envision a continuous process of recognizing gains for our shareholders through these kinds of transactions."

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