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Federal Government uses UPLAN model to examine price volatility in ERCOT

LCG, October 11, 2022--The U.S. Energy Information Administration, or EIA, released its latest supplement to the Short-Term Energy Outlook (STEO) in the Texas market, assessing various possible scenarios using LCG’s UPLAN NPM model, with a special focus on the effects on wholesale power prices and market conditions.

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Michigan Governor Supports Reopening Palisades Nuclear Facility

LCG, September 16, 2022--The Governor of Michigan last week sent a letter to the U.S. Department of Energy (DOE) in support of Holtec International’s application for a federal grant under the Civil Nuclear Credit (CNC) program to save the Palisades Nuclear Facility in Southwest Michigan. The federal grant could result in restarting the baseload, carbon-free, nuclear power plant.

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Industry News

Indonesians and Americans Battle over Indonesian Power Projects

LCG, April 3, 2002-Indonesian national oil and gas company Pertamina is fighting U.S. investors over $261 million regarding a suspended geothermal project.

During the Asian financial crisis a few years ago, several Indonesian power projects were suspended, including the West Java Karaha Bodas geothermal plant.

When plans to build the plant were cancelled, Kahara filed claims to retrieve its investment money from Pertamina. A Swiss arbitration panel ruled that Pertamina pay $261 million to Kahara, whose principal investors are FPL Energy LLC and Caithness Energy LLC, both U.S. companies.

However, a Central Jakarta district court ruled otherwise, and Pertamina insists that since the payment must be made in Indonesia and the Indonesian law refutes the Kahara claim, the Indonesian company has won after all.

$130 million of Pertamina's funds have been frozen, and the Indonesian ruling's impact on U.S proceedings has yet to be determined.

Several other legal disagreements relevant to energy investments are ongoing in Indonesia, the world's fourth most populated country.

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