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

Indian Power Firm Meets with Enron in Buyout Talks

LCG, Oct. 2, 2001--Tata Power Co. Ltd., India's larges developer of power plants, is in preliminary talks with Enron to buy the U.S. company's 65 percent stake in the $2.9-billion Dabhol Power Co., the Economic Times said this morning.

"We have had one preliminary meeting," Tata Power's managing director said. "Everyone knows some solution has to be found for Dabhol, and we have submitted a preliminary letter of interest." He added "We will go ahead with this only if it makes sense from the consumers' angle and the stakeholders' angle."

Over the weekend, The Economic Times reported that Tata Power, a unit of India's second-largest conglomerate, would start final negotiations with Enron after consultants JM Financial and Ernst & Young had submitted their report.

Tata Power, which is headquartered in Mumbai, the capital city of the Indian state of Maharashtra, is well-placed to know of the problems Enron has had with the state, the Maharashtra State Electricity Board, Maharashtra electricity regulators and a Maharashtra committee recently set up to resolve the dispute between the American company and its Indian customer.

The various Indian authorities have made repeated attempts to induce Enron to renegotiate terms of agreements reached in the mid-1990s for construction and operation of Dabhol, but the company has just as often refused.

In July, Kenneth Lay, Enron's chairman, said his company wanted out of India and would sell Dabhol for what it had in it -- a little over $1 billion.

The Economic Times quoted a Tata official as saying his company would "demand Enron scale down the price." Enron is not expected to be amenable to that suggestion.

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