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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

Paper Company Sells Maine Hydropower Assets

LCG, Oct. 12, 2001--Canadian real estate, power generating, natural resource and financial firm Brascan Corp. announced this morning an agreement to purchase from Great Northern Paper Inc. a hydroelectric generating and transmission system in northern Maine for $156.5 million.

Brascan said the acquisition by its subsidiary, Great Lakes Power Inc., will increase Brascan's total power generating capacity to over 1,100 megawatts and enhance its ability to market power in the increasingly integrated North American energy markets.

Brascan said it will acquire 280 megawatts of combined generating capacity, consisting of six hydroelectric generating stations with 130 megawatts among them and Great Northern's thermal generating plant of 150 megawatts.

According to Brascan, the acquisition includes several generation and transmission assets.

  • Six hydroelectric generating stations located on the Penobscot River with a combined capacity of about 130 megawatts.

  • Eleven dams, the impoundments of which are capable of storing water sufficient to generate 300,000 megawatt-hours of electric power.

  • Opportunities through capital investment to enhance the system's output and improve the reliability and efficiency of its generating units.

  • Marketing agreements for up to 15 years with Great Northern for the supply of energy and the sale of surplus power production from the generating stations.

Brascan and Great Northern have also agreed to jointly study the development of a new transmission line connecting Quebec with the New England Power Pool, using Great Northern's rights of way in northern Maine which extend to the Quebec border.

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