JEA Board Approves Transaction with FPL to Close 848-MW Coal Unit in Georgia

LCG, June 30, 2020--The JEA Board of Directors in a special meeting last Friday unanimously approved a transaction that will result in closing an 848-MW unit at Plant Scherer and entering into a 20-year purchase power agreement (PPA) with Florida Power & Light Company (FPL).

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Analysis of Resource Adequacy in ERCOT - July - December 2020

LCG, June 30, 2020 - LCG Consulting just released its analysis of ERCOT for the second half of 2020, July through December.

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Industry News

Mirant (Southern Energy) to Buy Jamaican Power Utility

LCG, Feb. 7, 2001Atlanta-based Mirant, the former Southern Energy Inc. and still a subsidiary of The Southern Co., will pay the Jamaican government $201 million for an 80 percent interest in Jamaica Public Service Co., the country's principal electric utility.

Mirant will place six directors on the company's nine-member board. The Jamaican government will retain a 20 percent stake in the firm and be represented on the board by three directors.

Prime Minister P. J. Patterson told the Jamaican parliament yesterday that Mirant was selected over two other U.S. bidders, Duke Energy Corp. and Reliant Energy Inc. "Only Southern indicated a willingness to acquire the Company as an integrated operation transmission, distribution and generation," Patterson said, adding that Duke and Reliant were interested only in the company's generation operations.

Patterson said the power situation in California spurred negotiations, calling the Golden State's problems "a real wake-up call for the rest of the world and a clear indication of where Jamaica could head if we fail to put JPS on a stable and financially sound footing."

The prime minister said Southern planned to invest an additional $500 million in JPS, mostly in new generation, over the next 10 years. The sale is expected to close by the end of next month, he added.

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