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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

No Quick Fix Expected from SoCal Edison Lawsuit

LCG, Dec. 29, 2000A lawyer specializing in electric power issues said yesterday that a ruling by the District of Columbia Circuit Court of Appeals in a case filed by Southern California Edison Co. could come in about two weeks, but the court will likely remand the matter to the Federal Energy Regulatory Commission, Reuters news agency reported.

SoCal Edison asked the court for a "writ of mandamus," a ruling ordering FERC to do its duty with regard to California's electric crisis. The utility alleges that FERC has found that rates are not "just and reasonable" as required by federal law, but has taken no action to return rates to a just and reasonable level.

Clark Downs, a partner in the law firm of Jones, Day, Reavis and Pogue, said the request for a write was an "extraordinary" step. The usual procedure would be through appellate review but "It is a time-consuming process," he said, "and that is the reason that they have taken this action."

"They may deny (SoCal Edison's) request or may remand the matter to FERC for hearings," Downs said. "In no event would the court decide on its own to impose cost-based rates."

A key issue, according to Reuters, will be what guidance the court provides FERC. It may ask the agency to take or action or merely to explain why it has not. The case could then return to the courts after FERC has issued a response.

In any case, the issue will not be resolved before January 4, the date on which Standard & Poor's and other credit rating firms say they may cut the credit ratings of SoCal Edison and Pacific Gas & Electric Co. down to junk level, making it almost impossible for the two utilities to continue providing electricity to their customers.

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