Federal Government uses UPLAN model to examine price volatility in ERCOT

LCG, October 11, 2022--The U.S. Energy Information Administration, or EIA, released its latest supplement to the Short-Term Energy Outlook (STEO) in the Texas market, assessing various possible scenarios using LCG’s UPLAN NPM model, with a special focus on the effects on wholesale power prices and market conditions.

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Michigan Governor Supports Reopening Palisades Nuclear Facility

LCG, September 16, 2022--The Governor of Michigan last week sent a letter to the U.S. Department of Energy (DOE) in support of Holtec International’s application for a federal grant under the Civil Nuclear Credit (CNC) program to save the Palisades Nuclear Facility in Southwest Michigan. The federal grant could result in restarting the baseload, carbon-free, nuclear power plant.

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Industry News

CP&L to Call Itself 'Progress Energy'

LCG, Dec. 4, 2000--From now on, just call Carolina Power & Light Co.'s parent holding company "Progress Energy." CP&L Energy Inc. did not say in a news release this morning whether the new company name takes an "Inc." or a "Corp."

But it's a welcome departure from recent industry practice in that the new company name incorporates the word "Energy" and is in English.

The new holding company, created by CP&L Energy's acquisition of Florida Progress Corp., intends to put the "Progress" moniker on everything except Carolina Power & Light and Florida Power Corp., its two operating utilities. However, the company will gussy up the company trucks, bills and other things with a new red and gold trademark.

The company created by the merger of two big Southeast utilities is one of the top 10 U.S. generators of electricity, with more than 19,000 megawatts of total capacity. It serves about 2.8 million customers in the Carolinas and Florida and has over $7 billion in annual operating revenues.

"Progress Energy is built on the strength of two solid companies with long traditions of service toour customers and communities," said William Cavanaugh, chairman, president and chief executive. "Our financial strength and stability position the company to deliver reliable, reasonably priced energy to the communities we serve."

He added, "Our increased size and assets provide us with a platform for growth and the ability to compete in any business environment. Although we are structured for stability, we have no intention of standing still."

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