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

Sierra Pacific Says Portland General Deal Kaput

LCG, April 27, 2001--Sierra Pacific Resources Corp. owner of both Nevada electric utilities, said yesterday its deal to buy Enron Corp.'s Portland General Electric Co. subsidiary has been terminated by mutual agreement.

Last month, Enron Chief Executive Jeffrey Skilling said that the transaction had only a "5 percent probability" of going through, citing regulatory changes in Nevada which would affect Sierra Pacific's ability to consummate the deal.

A month ago, Nevada regulators told Nevada Power Co. and Sierra Pacific Power Co. to hold off on selling their power plants because of fears that California's energy crisis could spread across the border. Last week, the Nevada legislature officially put electric deregulation on hold, and the measure was immediately signed into law.

Sierra Pacific Resources had planned to use the proceeds from its power plant sales to pay Enron for its Portland, Ore., utility.

"While this acquisition would have offered many efficiencies in utility distribution for customers in both Nevada and Oregon, completing it was becoming increasingly difficult in the current market andpolitical environment in the west," said Walt Higgins, Sierra Pacific Resources chief executive.

Skilling said in a statement yesterday "As we have discussed in the past few weeks, the energy markets in California and Nevada have led to a regulatory and legislative environment that has made this transaction increasingly difficult to complete."

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