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

Conectiv Unit Sells Interests in Nukes

LCG, Oct. 19, 2001--Utility holding company Conectiv Inc. said yesterday that its Atlantic Electric Co. subsidiary had completed the sale of its ownership interests in three nuclear plants to PSEG Nuclear LLC and Exelon Generation Co. for a total of about $11.3 million, not counting fuel inventory.

With the sale of these interests, Atlantic Electric has completely exited the nuclear generation business.

  • A 7.51-percent, 164 megawatt, interest in the Peach Bottom Atomic Power Station Units 2 and 3 was sold in equal shares to co-owners PSEG Nuclear and Exelon, each of which, prior to the sale, owned about 46 percent of Peach Bottom. Exelon is the operator of that facility.

  • A 7.41-percent, 167 megawatt, interest in the Salem Nuclear Generation Station Units 1 and 2 was sold to PSEG Nuclear, an indirect subsidiary of Public Service Enterprise Group Inc. PSEG Nuclear is the operator of Salem and, prior to the sale, owned about 50 percent of that facility.

  • A 5.00-percent, 52 megawatt, interest in the Hope Creek Nuclear Generation Station Units 1 and 2 was sold to PSEG Nuclear. PSEG Nuclear is the operator of Hope Creek and, prior to the sale, owned 95 percent of that facility.

Conectiv said PSEG Nuclear and Exelon unit Peco Energy Co. have also assumed full responsibility for the ultimate decommissioning of Atlantic's interests in Peach Bottom, Salem and Hope Creek.

Thomas Shaw, chief executive of Conectiv, said "The sale represents another milestone in the execution of our focused business strategy. We have sold baseload nuclear and fossil fired power plants that do not fit our strategy and have made progress developing and building new, fast-response, mid-merit generation units that can meet the region's need for power."

"Mid-merit" plants are quick-starting peaking units -- usually natural gas-fueled combustion turbines -- the are fired up during periods of peak demand, when electricity prices are at their highest.

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