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JEA Board Approves Transaction with FPL to Close 848-MW Coal Unit in Georgia

LCG, June 30, 2020--The JEA Board of Directors in a special meeting last Friday unanimously approved a transaction that will result in closing an 848-MW unit at Plant Scherer and entering into a 20-year purchase power agreement (PPA) with Florida Power & Light Company (FPL).

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Analysis of Resource Adequacy in ERCOT - July - December 2020

LCG, June 30, 2020 - LCG Consulting just released its analysis of ERCOT for the second half of 2020, July through December.

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Industry News

New York Okays Nine Mile Point Nuke Sale

LCG, Oct. 25, 2001--The New York State Public Service Commission yesterday approved the sale of the two Nine Mile Point nuclear units to the Constellation Nuclear subsidiary of Constellation Energy Group for $780 million.

Constellation will pay $221 million for the 609 megawatt Unit 1 owned by Niagara Mohawk Power Corp. and $559 million for an 82 percent interest in the 1,150 megawatt Unit 2 owned by Niagara Mohawk and three other upstate New York utilities.

The operating license of Unit 1 dates from August 1969, meaning it will expire in just eight years. The much newer Unit 2 can operate until 2028 under its current license.

Nine Mile Point is located seven miles northeast of the city of Oswego, N.Y., on Lake Erie. The site also includes the James A. FitzPatrick nuclear plant recently acquired by Entergy Corp. from the New York Power Authority.

Constellation will pay 50 percent down at closing, with the $390 balance paid to the owners over five years, together with interest.

Constellation Energy Group, which was formed by the restructuring of Baltimore Gas & Electric Co., also owns the two-unit Calvert Cliffs nuclear power plant in Maryland, a fact not lost on New York regulators.

"Constellation is an experienced nuclear operator and another important addition to New York's competitive wholesale generation market," said Maureen O. Helmer, chairwoman of the New York commission.

The U.S. Nuclear Regulatory Commission approved the transfer of operating licenses last June.

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