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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

PSEG Takes Controlling Interest in Tunisia Power Plant

LCG, Dec. 27, 2000Newark, N.J.-based PSEG Global Inc. and Marubeni Corp. of Japan announced jointly yesterday that they had acquired from Sithe Energies Inc. the interest they didn't already own in Carthage Power Co., an ad hoc Sithe unit set up to own and operate a 471 megawatt power plant in Tunisia.

PSEG Global increased its ownership in Carthage Power from 35 percent to 60 percent and Marubeni increased its shareholding from 32.5 percent. PSEG will assume Sithe's contract rights and obligations for management of construction and ongoing operation and maintenance of the plant.

Michael Thomson, president of PSEG Global, said "We have seen greater return and more efficientoperations in assets we control than in ones where we simply are a minority partner. This is part of alarger strategy to increase our ownership in select projects around the world."

The plant is scheduled to begin commercial operation next summer. Natural gas fuel for the combined-cycle facility will be furnished by Socit Tunisienne d'Electricit et du Gaz, the Tunisian energy utility, which will also contract for the plant's electric output.

Financial terms of the sale were not disclosed.

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