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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

AEP to Sell Texas Plant to Teco Energy

LCG, Feb. 8, 2001American Electric Power Co. said this morning it would sell its Frontera power plant to Teco Power Services, a subsidiary of Teco Energy Co., as part of a divestiture agreement with the Federal Energy Regulatory Commission in AEP's acquisition of Central and South West Corp.

Frontera is a 500 megawatt natural gas-fired combined-cycle plant located near the town of Missionin the Rio Grande Valley of Texas. The merchant plant, built by CSW subsidiary CSW Energy priorto the merger with AEP, began simple-cycle operation in July 1999 and combined-cycle operation in May 2000.

Teco Power Services, an affiliate of Tampa Electric Co., will pay AEP $265 million for the plant. Closing of the deal is contingent upon completion of a Hart-Scott-Rodino antitrust review.

"This divestiture is important because it allows us to comply with FERC's order on the completion of our merger, but it also provides cash that we will use to pay down debt," said Dwayne L. Hart, AEP's vice president for business development and strategy.

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