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

California Capsule: ISO Calls Off the Red Alert

LCG, Feb. 19, 2001The alarm bells quit ringing at the California Independent System Operator Friday night as the agency lifted its Stage 3 power emergency after a 32-day run. ISO spokesman Patrick Dorinson said there should be sufficient electricity through today.

But elsewhere there was growing concern that the many stopgap measures being taken by Gov. Gray Davis and the state legislature to keep the lights from going out in California were doing little more than confusing an already bad situation.

Where will it all lead? "Right now, we have no clue," said University of California Energy Institute director Severin Borenstein.

Here's the latest:

  • U.S. District Court Judge Frank Damrell extended until Wednesday his order to Reliant Energy Inc., AES Corp., Dynegy Inc. and The Williams Cos. that they continue selling electric power to Cal-ISO. The companies have balked at selling power to the penniless ISO, saying they would prefer to sell to the California Department of Water Resources. "We've gotten another reprieve," Dorinson said.

  • President George W. Bush ordered federal agencies to speed up approvals for new power plants in California. The Environmental Protection Agency, the Fish and Wildlife Service, the Bureau of Land Management and the National Marine Fisheries Service are among the federal agencies that must review plant proposals and delays often occur as one agency waits for another.

  • Negotiations were to begin today on Davis' proposal that the state buy the transmission facilities owned by California's three investor-owned utilities. State bonds would be issued to pay for the wires, which could cost anywhere from the $3 billion politicians and bureaucrats are talking about to the $9 billion some industry insiders say they are worth. The utilities are reluctant to part with their transmission systems because the represent a huge investment made over the years and are also a source of revenue.

  • San Diego Gas & Electric Co. has joined Pacific Gas & Electric Co. and Southern California Edison Co. in the financial hurt department. SDG&E said Friday in a Securities and Exchange Commission filing that it is "fully drawn" on its short-term borrowing facilities. The utility said its deficit grew by 35 percent to $605 million in January.

  • SoCal Edison and its parent Edison International Inc. also made filings with the SEC, saying the utility has made about $39.4 million in payments to avoid default on some bond issues. The defaults, if they occurred, would have allowed bond holders to "call" some of the bonds, demanding the company repay all of the principal immediately. In another case, a default would have accelerated the maturity on about $2 billion of first mortgage bonds.

  • After several PG&E officials met with members of Davis' staff on Friday, the company issued a statement: "PG&E wants to make clear that it is not seeking a rescue or a bailout. We are asking the state simply to follow the law, which allows us to recover wholesale power costs incurred for our customers. Any solution must be fair both to shareholders and ratepayers. The Governor's framework does not yet meet this objective."

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