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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

Virginia Begins Hearings on Dominion Restructuring

LCG, Oct. 12, 2001--The Virginia State Corporation Commission began hearings yesterday to decide whether to allow Dominion Resources Inc. to create an unregulated electric generation company, separate from its from Virginia Electric & Power Co. subsidiary.

Dominion wants the separate power producer in place when electricity deregulation takes effect in the Old Dominion on January 1.

Dominion Resources, which is already a holding company, favors a complete "legal separation" of its entities, which would create a new company called Dominion Generation, into which it would transfer generating assets belonging to Virginia Power.

That's the "cleanest, safest, easiest to monitor and the most effective way" to accomplish its goals, James C. Roberts, the company's lawyer, told the commission.

Dominion Generation would do business as a power wholesaler throughout the U.S. Mid-Atlantic region, and would be regulated by the Federal Energy Regulatory Commission rather than by Virginia.

The commission staff prefers a less complete separation that would keep the power producing assets under its regulatory oversight.

The commission will conduct several days of hearings with testimony expected from at least 15 parties. Included among them are alternative energy providers who are concerned that Dominion would restructure its power producing costs in a way that would make it impossible for them to compete with the entrenched company.

Some consumer advocates have expressed concern over "cost shifting" -- the possibility that Dominion would, when unbundling its retail electric rates, assign some generation costs to distribution in order to keep its wholesale rates below market values.

One member of the commission staff recommended caution. "This is not the time to take sweeping and irremediable actions," William Chambliss said.

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