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

Fitchburg to Cut Default Service Electric Rates 45%

LCG, Oct. 4, 2001--Unitil Corp. said yesterday its wholly owned subsidiary Fitchburg Gas & Electric Light Co. has filed for a 45 percent decrease in its electric default service rates with the Massachusetts Department of Telecommunications and Energy.

If approved, the proposed rates will go into effect for the period from this coming December 1 to May 31 of next year.

FG&E will offer the new low default service rate to all of its low-income customers, including those presently served under standard offer service, in accordance with an MDTE policy aimed at ensuring that low-income customers always receive the lowest possible rate from the utility.

Under the FG&E proposal, the default service rate will decrease by more than 45 percent for residential customers, dropping to 4.996 cents per kilowatt-hour from the currently effective rate of 9.128 cents. As a result, a typical residential customer on default service using 500 kilowatt-hours of electricity per month will see his monthly bill drop to $65.40 from the current level of $86.06, a reduction of $20.66. Commercial and industrial customers currently taking default service will also see similar decreases in rates, the company said.

"I am very pleased to announce another rate decrease for Unitil customers," said Unitil chief executive Bob Schoenberger. "Combined with the decrease in rates for gas service which we filed on September 17th, this is very good news for our customers and will reduce the economic burden of energy costs for this coming winter particularly for our low income customers."

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