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Federal Government uses UPLAN model to examine price volatility in ERCOT

LCG, October 11, 2022--The U.S. Energy Information Administration, or EIA, released its latest supplement to the Short-Term Energy Outlook (STEO) in the Texas market, assessing various possible scenarios using LCG’s UPLAN NPM model, with a special focus on the effects on wholesale power prices and market conditions.

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Michigan Governor Supports Reopening Palisades Nuclear Facility

LCG, September 16, 2022--The Governor of Michigan last week sent a letter to the U.S. Department of Energy (DOE) in support of Holtec International’s application for a federal grant under the Civil Nuclear Credit (CNC) program to save the Palisades Nuclear Facility in Southwest Michigan. The federal grant could result in restarting the baseload, carbon-free, nuclear power plant.

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Industry News

Massachusetts Okays Electric Rate Hike up to 69 Percent

LCG, April 3,2001The Massachusetts Department of Telecommunications and Energy yesterday approved rate increases for Massachusetts Electric Co. that will range from 23 percent for residential customers up to 69 percent for large industrial customers.

The industrial customers will then increase the prices of their products by an amount sufficient to absorb the increased cost of power, passing the rate hike along to their customers, many of whom are residential customers.

A typical householder using 500 kilowatt-hours of electricity per month will see his electric bill increase from $61.38 to $75.60, Massachusetts Electric said. The generation portion of the bill will increase from 6.37 cents per kilowatt-hour to 9.213 cents starting May 1, a jump of 45 percent, but with distribution charges and customer service factored in the overall increase will be about 23 percent.

Commercial customers will see the cost of electricity rise from 6.493 cents per kilowatt-hour to 9.556 cents, an increase of 47 percent, while industrial users will see a 69 percent increase from 5.46 cents to 9.054 cents.

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