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

Maine Approves Canadian Takeover of Bangor Hydro

LCG, Dec. 19, 2000--The Maine Public Utilities Commission yesterday approved the acquisition of Bangor Hydro-Electric Co. by Canadian utility holding company Emera Inc., the owner of Nova Scotia Power Inc.

Under the deal, Emera will acquire all of the outstanding common stock of Bangor Hydro for $205 million U.S. The transaction was approved by shareholders of the Maine utility in October.

Robert S. Briggs, president of Bangor Hydro, said he was pleased Maine regulators acted so rapidly. "Maine PUC approval is necessary in order to achieve the rest of the required approvals, and now we will focus our efforts on them", he said. "The sooner we close this merger, the sooner we can begin to realize the benefits for all parties."

Bangor Hydro said approvals still pending include the U.S. Federal Energy Regulatory Commission and the U.S. Securities and Exchange Commission. The processes for all necessary regulatory approvals are expected to be complete in the first half of 2001.

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