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

Power Suppliers Drop Out of New Jersey Market

LCG, Feb. 15, 2001Energy America, a power marketer owned by British utility Centrica Plc, and Power Direct, a supplier owned by AES Corp., are the latest in a string of more than a dozen alternative electricity suppliers to quit doing business in New Jersey.

One of the first to have second thoughts about the Garden State was KeySpan Energy, which stopped taking new residential customers last spring. "We have about 7,000 customers, with about 5,000 of them residential. Unless regulators change the market into a level playing field, we will not renew our contracts, most of which expire in September," said Bill Kinneary, the company's president.

Kinneary said one problem is the one-time discount a marketer can offer a residential customer. Called a "shopping credit," the discount was pegged to the cost of power production at the time New Jersey's deregulation plan was formulated in 1997.

"Because fuel costs are higher now than when the price was first fixed, unless they modify theprogram, we can't compete. By summer, no one will be left standing," Kinneary said.

Blossom Peretz, the state ratepayer advocate, conceded that the shopping credits pose a problem, but she is confident that it can be resolved. "I never expected it to be an energy revolution, but more of an evolution in people's understanding. It is more complex for people to think about than buying pair of shoes, or a quart of milk," she said.

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