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Connecticut Seeks 2,000 MW of Offshore Wind Capacity

LCG, August 22, 2019--The Connecticut Department of Energy and Environmental Protection (DEEP) on Friday released a request for proposals (RFP) for offshore wind power projects. DEEP is seeking up to 2,000 MW, as required under Public Act 19-71, An Act Concerning the Procurement of Energy Derived from Offshore Wind.

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EIA Publishes Regional Electricity Supply and Pricing Forecasts Using UPLAN Model

LCG, August 13, 2019--The U.S. Energy Information Administration (EIA) announced that it is revising the presentation and modeling of its forecasts for electricity supply and market hub pricing to better reflect current electricity markets and system operations in the U.S. Beginning with the August 2019 Short-Term Energy Outlook (STEO), the new forecasting approach models electricity markets using the UPLAN production cost optimization software developed by LCG Consulting. EIA uses the solution results provided by this proprietary model to develop the STEO forecasts of monthly electricity generation, fuel consumption, and wholesale prices.

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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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