EnergyOnline
Services

RSS FEED

EnergyOnline.com rss

News

NRC Issues Subsequent License Renewals for First Time to Nuclear Reactors in Florida

LCG, December 11, 2019--The Nuclear Regulatory Commission (NRC) staff recently approved Florida Power & Light's (FPL's) application for an additional 20 years of operation for Turkey Point Nuclear Generating Units 3 and 4. This is the first time the NRC has issued renewed licenses authorizing reactor operation from 60 to 80 years. The subsequent (or second) license renewals (SLRs) for Turkey Point Unit 3 and Unit 4 now expire on July 19, 2052 and April 10, 2053, respectively.

Read more

New York Poised to Close Last Coal-fire Power Plant

LCG, December 4, 2019--The last operating coal-fired power plant in New York is moving toward closure shortly. Last month, Somerset Operating Company, a subsidiary of Riesling Power LLC, submitted a request to the New York State Public Service Commission (NYSPSC) to waive the state's required, 180-day notice to close the Somerset Station, allowing the facility to be retired on February 15, 2020. Closure is contingent on approvals by both NYSPSC and the New York Independent System Operator (NYISO), which will evaluate if it will cause an adverse effect on grid reliability.

Read more

Industry News

California Regulators Won't Vote on Bond Money Today

LCG, Sept. 6, 2001--The California Public Utilities Commission has postponed a vote originally scheduled for today that would have determined how much of the state's record electricity rate increase would go to support the state's $12.5 billion bond offering which aims to fund past and future power purchases by the California Department of Water Resources.

The bond proceeds will be used to pay off a $4.3 billion bridge loan taken in anticipation of the bond issue and to replenish the state treasury for some $7 billion in power purchases made by the water agency so far this year.

That would leave precious little to fund payments on $43 billion worth of long-term power contracts entered into by the water people with independent generators.

Loretta Lynch, president of the CPUC, said in a teleconference yesterday that she hopes the commission will issue its final decisions on the bond issue by Thursday, September 20, but added that no new date has been set for the vote.

Two weeks ago, when the CPUC was set to vote on the matter, Lynch delayed the vote until today, saying the two-week delay was needed "to properly accommodate the volume and scope of comments received" the previous week.

That delay, and now this one, endangers an October 31 deadline for the bond issue and is the latest in a string of problems facing the financing. The state had originally intended to market the bonds in May, and Gov. Gray Davis had "guaranteed" that money from the bonds would repay the state treasury by June 30 for money used to buy power.

The October 31 deadline is important because it is also the deadline when interest on the bridge loan jumps from 4.14 percent to 7 percent. The difference could cost the state $270,000 a day in added interest.

Copyright © 2019 LCG Consulting. All rights reserved. Terms and Copyright
Generator X
Generation and Transmission Planning and Optimization
UPLAN-NPM
The Locational Marginal Price Model (LMP) Network Power Model
UPLAN-ACE
Day Ahead and Real Time Market Simulation
PowerMax
Day-ahead and real-time portfolio revenue optimization
UPLAN-G
The Gas Procurement and Competitive Analysis System
PLATO
Database of Plants, Loads, Assets, Transmission...
MarketWatch
Annual summary of prices, congestion and important events in ERCOT
CAISO CRR Auctions
Monthly Price and Congestion Forecasting Service