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

State May Allow Entergy to Bid on Vermont Yankee

LCG, Dec. 6, 2000-- Entergy Corp.'s Entergy Nuclear subsidiary may be allowed to reenter the bidding for the 510 megawatt Vermont Yankee nuclear power plant, an official of the Vermont Public Service Board said yesterday.

Though AmerGen Energy Co. had appeared to have acquisition of the facility sewed up, the Board had not ratified the sale and last week Entergy Nuclear asked to intervene in the proceedings, saying it was still interested. At the time, a spokesman for the Board said the agency was looking for the best deal for the state's electricity customers.

Yesterday, PSB official Geoffrey Commons said "If Entergy can do better than AmerGen, than we are interested in seeing them make that better offer."

In October of last year, Entergy dropped out of the bidding for Vermont Yankee when AmerGen post an offer of $23.5 million, which was considered high at the time. But times have changed. After Entergy agreed to pay $1 billion for two New York Power Authority plants last February, the rules changed, too.

Last month, AmerGen upped its offer for Vermont Yankee to $93 million and said it would pay for refueling costs if the deal could be closed by the next refueling outage scheduled for this coming April. That added $10 million to the AmerGen offer, and Entergy remained interested.

If a deal for Vermont Yankee is not completed by April, the cost of refueling the reactor would be borne by customers of its utility company owners. That would not be a good deal for the state's electricity customers.

The Public Service Board has proposed that Entergy cover the refueling cost by posting a $10 million bond as the price for submitting a new bid for the plant.

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