NextEra Energy Completes Purchase from Southern Company of Ownership Interests in Two Florida Power Plants

LCG, December 5, 2018--NextEra Energy announced yesterday that it completed the acquisition of Southern Company's indirect ownership interests in the Stanton and Oleander natural gas power plants in Florida. The acquisition was previously announced in May of this year.

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Emera to Sell Three Combined-Cycle Power Plants in New England

LCG, November 29, 2018 --Emera Inc., headquartered in Halifax, Nova Scotia, announced this week that it has agreed to sell three natural gas-fired electric generating facilities that it owns in New England to the investment firm Carlyle Group for $590 million. The combined electric generating capacity of the three facilities is approximately 1,100 MW. The acquisition is expected to close in first quarter 2019.

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Industry News

Frisco Voters Approve Municipal Utility

LCG, Nov. 7, 2001--With all but about 9,000 absentee ballots counted this morning, a proposition to create a municipal utility in San Francisco appeared to have won by a 51 to 49 percent vote.

It may be a while before the absentee votes are counted. Yesterday, the envelopes containing them were taken to an auditorium instead of City Hall for fear that any possible anthrax contamination could close down the building.

Officials said they had received no threats but were just playing it safe. "It would be remiss to say that there are no fears of that," said Tammy Haygood, director of the Department of Elections, referring to anthrax. "We had no known threat of that."

Proposition F, one of two measures on yesterday's ballot that would create a municipal utility, seems to have won, but a second measure, Proposition I that would have included the town of Brisbane, appears to have lost by the same 51 to 49 percent margin. In Brisbane, voters rejected the proposal with 760 against and 190 in favor.

Pacific Gas & Electric Co., which had campaigned vigorously against both measures, may have shot itself in the foot. On Monday, its parent holding company, PG&E Corp., announced a 243 percent increase in profits for the third quarter.

PG&E did not concede defeat, saying this morning in a statement "Voters saw through the MUD proposal and realized it did not offer a solution to the power generation crisis." The company did not explain how it saw a 51 to 49 vote in favor of Proposition F as rejection.

Proposition F, if it is eventually declared the winner and withstands expected court challenges, would allow an elected board to declare eminent domain and buy PG&E's electric distribution system, for what the utility fears would be pennies on the dollar.

Proponents of the measure pointed to Los Angeles, where the Department of Water and Power not only kept the lights on during the worst of the California power crunch when rolling blackouts plagued much of the state but had power to spare, selling it to California at market prices.

There is a difference. The LADWP owns its own generation, with a healthy reserve capacity. San Francisco owns only three dams on the Hetch Hetchy water system. They have a maximum capacity of 334.5 megawatts, about a third of San Francisco's standard load, and have that power only when there is plenty of water in the rivers of the Sierra Nevadas.

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