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

NRG Buys 2 Connecticut Plants from Wisconsin Energy

LCG, Dec. 28, 2000--NRG Energy Inc. said yesterday it has agreed to acquire the Bridgeport and New Haven Harbor power plants in Connecticut from Wisconsin Energy Corp. for $325 million, subject to customary purchase price adjustments.

The two plants had earlier been acquired from United Illuminating Co. by Wisconsin Energy. Bridgeport is a 660 megawatt oil-fired steam turbine plant and has an additional 19 megawatts of combustion turbine capacity. New Haven Harbor is a 431 megawatt oil-fired steam turbine plant.

David H. Peterson, chief executive of NRG, said the acquisition will be immediately accretive to earnings. "Acquiring these generating facilities is consistent with NRG's strategy of developing and maintaining a top-three position in the Northeast," he said.

Richard A. Abdoo, chief executive of Wisconsin Energy, said "We are focusing on our core competencies of international manufacturing, electric generation and electric and natural gas distribution in the Midwest. And while we are impressed with the quality of these facilities because of their fuel flexibility and skilled workforce, we have decided to monetize the value of these assets to benefit our shareholders."

The transaction, subject to approvals from the Federal Trade Commission and the Federal EnergyRegulatory Commission, is expected to close during the first half of next year.

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