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Tokyo-based Electric Power Subsidiary partners with AP Solar in 400 MW Texas Solar Project

LCG, August 6, 2020—J-Power USA Development Co, a subsidiary of the Electric Power Development Co. headquartered in Tokyo, has joined a joint venture to develop a 400 MW Texas solar project.

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Texas Solar Project Sold to CIP

LCG, July 31, 2020—An affiliate of Copenhagen Infrastructure Partners has completed purchase of a 350 MW solar photovoltaic project near the Houston metro area from Solar Plus Development Inc. and Avondale Solar.

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Industry News

California 'Windfall' Power Profit Tax Bill Stalls

LCG, Sept. 12, 2001--A bill that would punish independent power producers by imposing a tax on "windfall" profits from wholesale power sale stalled in the California Assembly yesterday, failing to muster the 41 votes needed to pass it to the state Senate.

Assemblywoman Ellen Corbett, a Northern California Democrat, said her measure would set a $60 per megawatt-hour base price for electricity, and if independent power producers charged more they would be taxed on the difference. "The base rate is 100 percent above what prices were in January. That's plenty of room for a profit," she said.

Corbett's bill would return the money to consumers -- and consumers alone -- through a two-day sales tax holiday on most household goods.Assemblyman Bill Campbell, a Southern California Republican, said the bill creates more problems than it solves and Republican Minority Leader Dave Cox said the bill would encourage businesses to leave California.

Some lawmakers also questioned whether the state could tax a municipal district if they charged more than the $60 per megawatt base price. Corbett promised to work out those details if the bill was sent to the Senate.

An audit of the Los Angeles Department of Water and Power showed that the nation's largest municipal utility charged California an average of $292 per megawatt-hour for power during the worst of the electricity crisis earlier this year.

Democrat Assemblywoman Hannah-Beth Jackson of Santa Barbara supported the bill and said it wasn't aimed at most businesses, only the ones "that want to stomp on the California economy."

The truth of the matter is, no one charged more for power than someone else was willing to pay.

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