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

Greenspan Says Free Markets the Best Energy Policy

LCG, Nov. 14, 2001--Federal Reserve Chairman Alan Greenspan said yesterday that allowing operation of free markets to determine prices, allocate resources and foster development of energy sources would be the best energy policy for the United States.

Greenspan said he believed all current forms of energy, including oil, natural gas, coal and nuclear power, would play major roles in supplying the country's energy needs in coming years, according to the Associated Press.

The Fed chief said it is crucial that political and bureaucratic intervention in energy markets be kept to a minimum so that the correct pricing signals would be sent.

"We must remember that the same price signals that are so critical for balancing energy supply and demand in the short run also signal profit opportunities for long-term supply expansion," Greenspan told an audience at Rice University. "Moreover, they stimulate the research and development that will unlock new approaches to energy production and use that we can now only scarcely envision."

It was the second time this year that Greenspan has devoted a major speech to energy. In both talks, he encouraged development of all sources of energy and increased efforts to promote conservation and renewable energy supplies such as solar power, AP said.

Yesterday, Greenspan said that market forces had dealt effectively with the sharp jump in natural gas prices, home heating oil and gasoline that occurred last winter, and with electric power shortages in California.

He also spoke favorably about the potential for nuclear power, but stressed the importance of addressing "concerns of making plants safe from terrorist attacks" and finding acceptable ways to dispose of spent nuclear fuel from the power plants.

(The accumulation of spent fuel at two Minnesota nuclear power plants has forced their owner, Xcel Energy Inc., to look for sources of replacement power in case the plants have to be shut down. That story is reported on elsewhere in today's EnergyOnline Daily News.)

Greenspan did not comment on the future course of the U.S. economy other than to say that "developments in energy markets will remain central in determining the long-run health of our nation's economy."

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