Minnesota Power Announces Vision for 100 Percent Carbon-Free Energy by 2050

LCG, January 13, 2021--Minnesota Power, an ALLETE company, yesterday announced its vision to deliver 100 percent carbon-free energy to customers by 2050.

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NuScale Power and UAMPS Announce Agreements for Carbon-Free Nuclear Power Project

LCG, January 12, 2021--NuScale Power and Utah Associated Municipal Power Systems (UAMPS) announced yesterday that they have executed agreements to facilitate the development of the Carbon Free Power Project (CFPP).

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Industry News

Florida Progress Must Sell Ball Club to Get Merger Approval

LCG, Nov. 28, 2000--CP&L Energy Inc., which said over the weekend that its acquisition of Florida Progress Corp. is scheduled to close on Thursday "pending approval by the Securities and Exchange Commission" may not get that approval as easily as it thought.

The Tampa Tribune reported this morning that Florida Progress has to sell its interest in the unfortunately-named Tampa Bay Devil Rays, thought of by some as a major league baseball team, before the SEC will sign off on the merger.

Florida Progress invested $5 million to bring major league ball to Tampa in the form of the Devil Rays, which gives it a 5.8 percent interest in the team but no say in its management. That is just as well for the utility, because it does not need customers complaining about the club's 69 and 92 record this year, which was good enough for last place in the American League East.

The SEC may grant a conditional approval, allowing consummation of the merger, with a must-sell date for getting rid of the Devil Rays. An earlier filing by CP&L Energy contemplated March 31, 2006, as such a deadline. Based on performance to date, it is unlikely the team will be coming off a pennant-winning year at that time.

CP&L spokesman Keith Poston said "It was never our intention to sell the interest in the Devil Rays, (but) it was clear that they (SEC officials) did not believe that the Devil Rays interest would pass muster."

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