Duke Energy Renewables to Install 200-MW Wind Project in Texas

LCG, April 12, 2019--Duke Energy Renewables, a commercial business unit of Duke Energy, yesterday announced it will build, own and operate the MesteƱo Wind Project, located in southern Texas. The power generated by the 200-MW project will be sold into the ERCOT market, and Duke Energy Renewables will enter into a long-term hedge agreement covering the majority of the expected wind energy production. Construction has commenced, and the project is scheduled for completion by year-end.

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FPL Announces Plans for 409-MW Battery Storage System

LCG, April 3, 2019--Florida Power & Light Company (FPL) recently announced a plan to build the world's largest solar-powered battery system, the Manatee Energy Storage Center, as part of a modernization plan to accelerate the retirement of two, 1970s-era natural gas generating units at FPL's neighboring Manatee Power Plant.

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Industry News

Lay Appears, Asks Senators Not to Draw Negative Inferences

LCG, Feb. 12, 2002--Former Enron Chairman Ken Lay made a brief statement to the Senate Energy and Commerce Committee today, in which he said the decision not to testify had come only after "agonizing consideration" - and the advice of his lawyer.

Lay asked the committee members "respectfully" not to "draw any negative inference." Without the opportunity to ask questions of Mr. Lay, who invoked his Fifth Amendment right against self-incrimination, committee members lambasted the former chairman in turn for leading what Sen. Jean Carnahan, D-Mo. called a "ship without a rudder." Among the consequences of Enron's collapse, the speakers identified a possible decline in the public's trust in corporate leadership and increased fear of investing in the capital markets.

Sen. Gordon Smith, R-Ore., made the rebuke, "this is not capitalism. This is a conspiracy that may be a crime." Lay, who was responding to a subpoena from the committee, listened silently for the next hour.

Following Lay's appearance, he was succeeded by William Powers, who was appointed by the Enron board to produce an internal report on the causes of Enron's collapse. Powers, who responded to questions about the substance of his report, said that Lay allowed outside partnerships arranged by senior executives to mislead and harm investors. Powers also testified that he found "substantial evidence that Mr. Skilling was involved." Jeffrey Skilling, who stepped down abruptly from his position as CEO of Enron in the summer of last year, testified before Congress last week that he had not seen documents pertaining to key partnerships that were used to hide Enron losses.

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