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

Nevada Power Sells Las Vegas Plant to Reliant

LCG, Dec. 11, 2000--The Nevada Power Co. unit of Sierra Pacific Resources Corp. said this morning that it has agreed to sell its 149 megawatt Sunrise Station power plant in Las Vegas to Reliant Energy Power Generation Inc. for $106 million.

Nevada Power negotiated the right to buy energy and ancillary services from Reliant Energy Power Generation for agreed upon prices from closing until March 1, 2003, at a cost of $73 million based on time of closing. This will result in a net price for the generating plant upon closing of approximately $33 million.

In addition to the two gas-fired units at Sunrise that Nevada Power is selling to Reliant, there are three gas turbines at the site, rated at 222 megawatts. These belong to independent power producer Nevada Sun-Peak LP, and sell their output to Nevada Power under contract.

"With the sale of Sunrise Station, divestiture of our generation assets is nearly complete. The buyer is a leader in power generation and has already established a strong presence in southern Nevada," said Walter M. Higgins, chief executive officer of Sierra Pacific.

Sierra Pacific said there are no regular full-time employees at Sunrise Station.

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