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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

Mirant Buys Two Southeast Power Projects from El Paso

LCG, Oct. 23, 2001--Mirant Corp. said this morning it has completed the acquisition of two power plants located in Georgia and Florida from El Paso Corp.

"With this closing, Mirant successfully enters two markets that are key to our Southeast strategy," said David Rozier, chief executive of Atlanta-based Mirant's southern U.S. operations. "Georgia and Florida both provide significant growth potential and we look forward to continued expansion in these states."

Mirant acquired from El Paso a 640 megawatt natural gas-fired power plant in Thomaston, Ga., that has been in operation since June of last year, and a 480 megawatt natural gas-fired plant in New Port Richey, Fla., north of Tampa, Fla., which is scheduled to begin commercial operation in March of next year.

Clark C. Smith, president of El Paso Merchant Energy North America, said the sale "complements our recent acquisition of power facilities in Pennsylvania and Florida." He added that El Paso "will continue to pursue greenfield power development and acquisition opportunities in strategic locations across North America."

Mirant said it will provide power from both plants to customers under a variety of power purchase agreements, helping to meet substantial existing and future demand in both states.

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