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JEA Board Approves Transaction with FPL to Close 848-MW Coal Unit in Georgia

LCG, June 30, 2020--The JEA Board of Directors in a special meeting last Friday unanimously approved a transaction that will result in closing an 848-MW unit at Plant Scherer and entering into a 20-year purchase power agreement (PPA) with Florida Power & Light Company (FPL).

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Analysis of Resource Adequacy in ERCOT - July - December 2020

LCG, June 30, 2020 - LCG Consulting just released its analysis of ERCOT for the second half of 2020, July through December.

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Industry News

Mass. Electric Requests Cut in Default Service Rates

LCG, Sept. 19, 2001--Massachusetts Electric Co. said yesterday it has filed a request with the Massachusetts Department of Telecommunications and Energy to cut its standard offer service rate to reflect the current lower cost of power it purchases on behalf of its customers on Default Service.

About a quarter of the utility's 1.2 million customers receive Default Service.

The reduction would be more than 2 cents per kilowatt-hour on the fixed price Default Service portion of residential customers' electric bills, effective November 1. If approved, the typical residential customer on fixed price Default Service using 500 kilowatt-hours of electricity per month will see a 15.2 percent, or $11.48, reduction in the overall monthly bill, the company said.

At present, the fixed price Default Service rate for residential customers is 9.213 cents per kilowatt-hour. A typical residential customer using 500 kilowatt-hours per month now pays about $75.60. The proposed fixed price Default Service rate for residential customers is 6.917 cents per kilowatt-hour. A typical residential customer's bill under the proposed reduced rate would be $64.12 per month.

"We are pleased that lower wholesale market prices allow us to reduce rates to our customers on Default Service beginning November 1. We are also hopeful that more market choices will be available for customers as we go forward and the power markets develop further," said Cheryl LaFleur, president and chief executive officer of the utility.

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