EIA Publishes Study on High Renewables Growth Impact in WECC Markets using UPLAN

LCG, July 19, 2024 – A working paper published by the U.S. Energy Information Administration (EIA) utilized the UPLAN model to study the impact of high renewables growth in the Western Electric Coordinating Council (WECC) markets.

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LCG Publishes 2024 Annual Outlook for Texas Electricity Market (ERCOT)

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Industry News

Entergy to buy Vermont Yankee Nuke for $180 Million

LCG, Aug. 16, 2001--Entergy Corp. said yesterday it had reached agreement with the state of Vermont and owners of the Vermont Yankee nuclear power plant for the purchase of the facility for $180 million.

The Vermont Yankee Nuclear power Corp. and Entergy said the cash deal includes $135 million for the facilities and $35 million for nuclear fuel on hand.

Entergy's offer is nearly twice that of AmerGen Energy Co., the joint venture between the Peco Energy Co. unit of Exelon Corp. and British Energy, the UK's nuclear power producer. AmerGen's offer was rejected in February by Vermont regulators after other nuclear power plants in the Northeast were sold for more than bargain basement prices.

The sale of the 540 megawatt Vermont Yankee to Entergy must be approved by the Vermont Public Service Board, the U.S. Nuclear Regulatory Commission, the Federal Energy Regulatory Commission and other regulatory agencies, but there is little doubt that Entergy will be approved as the new owner. The New Orleans-based company already owns nine other nuclear plants, and Vermont Yankee would become its fifth in the Northeast.

Entergy said in a news release that it expects similarities between Vermont Yankee and other recent acquisitions to generate significant savings. "We expect to realize significant operating efficiencies since Vermont Yankee is a sister plant to our Pilgrim plant in Plymouth, Mass., and our FitzPatrick plant in Oswego County, N.Y.," Wayne Leonard, Entergy's chief executive, said in the statement.

Under the sales agreement, Entergy will retain Vermont Yankee's 450 employees and continue to operate the plant at least through its current license, which expires in 1012. The deal also requires Entergy to sell power from the plant to its current utility owners at average prices ranging from $39 to $45 per megawatt-hour through the life of the license.

Entergy said it was probable that it would ask the NRC for a 20-year extension on Vermont Yankee's operating license.

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