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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

California Congressman Puts Heat on Cal-ISO

LCG, Nov. 19, 2001--U.S. Rep. Doug Ose, a California Republican, has demanded that the Federal Energy Regulatory Commission act on what he says is preferential treatment of the California Department of Water Resources by the California Independent System Operator.

In a letter last Thursday to FERC, which was released Friday, Ose said dealings between the two state agencies contravene the required independence of the ISO. Reliant Energy Inc. and Mirant Corp. filed a complaint with FERC last month alleging that information-sharing between the two groups violates the ISO's tariff.

Ose backed up his letter with a copy of a confidential memo from Eric Woychik, described as having inside knowledge of the water agency, to ISO board member Mike Florio, who is also a lawyer for an anti-utility gadfly group, The Utility Return Network.

Ose did not tell how he came by the memo, but said it revealed "egregious examples of interference by CDWR in the electricity market."

How confidential was the memo? In it, Woychik wrote "If the press, Legislature, or FERC get wind of this, I think we are toast!!!"

Woychik's memo said that CDWR scheduling practices resulted in "very large additional costs for purchases," and compromised reliability. He cited as an example an instance when the water agency required the ISO to accept bilateral contracts for $400 per megawatt-hour when cheaper coal-fired generation from a Nevada plant was available for $60.

In his letter to FERC, Ose said the memo "clearly illustrates the perils of a lack of independence" at the ISO.

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