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Offshore Wind Projects Receive Boost from Massachusetts and Biden Administration

LCG, March 31, 2021--The Governor of Massachusetts signed legislation last Friday that authorizes the state to direct utilities to purchase an additional 2,400 MW of offshore wind energy by 2027.

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NV Energy's Greenlink Nevada Transmission Project Approved by PUCN

LCG, March 25, 2021--The Public Utilities Commission of Nevada (PUCN) on Monday approved proceeding with NV Energy's Greenlink Nevada transmission and renewable energy initiative. NV Energy's planned investment in Greenlink is over $2.5 billion.

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Industry News

Texas Regulator Says Utilities Should Repay Dereg 'Windfall'

LCG, March 28, 2001--The top Texas utility regulator says electric utilities should surrender potentially multibillion-dollar windfalls that grew unexpectedly from the Texas deregulation law, according to a report in this morning's Fort Worth Star-Telegram.

"This one is pretty big," Pat Wood, chairman of the Public Utility Commission of Texas, said. Generated by disputed utility overearnings, the windfall could total between $4 billion and $7 billion, according to analysts. Their rough estimates put the average residential refund at between $450-$685.

Wood said the state legislature would have to provide leadership on the issue. "There are some changes of circumstance that do merit some guidance," he said.

In 1998, the PUCT set electric rates at a level that would allow Texas utilities to recover losses expected from deregulation, but those losses have failed to materialize and now some say they never will and the utilities may actually end up with gains when the state fully opens its electricity market to retail competition.

State Rep. Sylvester Turner, a Houston Democrat, has introduced legislation that would force Texas utilities to refund deregulation-based overearnings.

Utility officials say they probably don't owe anything but have asked regulators to wait at least until the deregulation process is over before figuring out the bill.

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