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

California ISO Plans to Protect California Wholesale Customers

LCG, April 10, 2002--California Independent System Operator (ISO) has asked the Federal Energy Regulatory Commission (FERC) to maintain control over wholesale electricity prices, which are to emerge unfettered on September 30 this year.

The ISO, responsible for reliable transmission of electricity statewide, wants to protect California from unreasonably high wholesale prices. ISO Board Chairman Michael Kahn stated, "FERC should have imposed these measures far earlier than it actually did. Instead California was left exposed to crippling wholesale price spikes."

If FERC allows market constraints to expire, the ISO will use another plan, October 1 Elements, which are included in its Market Design 2002 (MD02). The October 1 Elements call for a bid screen, eliminating unreasonably high bids, and continue FERC's current "must offer" rule.

Part of the long-term MD02 plan, the October 1 Elements will be given to the ISO board on April 25th and then filed with the FERC on May 1st, although the ISO would prefer to keep Federal price controls instead.

The ISO's MD02 plan has been developed after two separate four-day meetings and involved input from market players, state agencies, and hundreds of hours of work.

California's ISO, a not-for-profit corporation, took over control of most of the transmission of electricity in 1998 as part California's plan for opening energy markets.

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