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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

China Dismantles its Power Monopoly

LCG, April 16, 2002-Following official announcements over a month ago, last week the Chinese State Development Planning Commission declared that China State Power Corporation (CSPC) assets will be distributed to form new companies.

Four or five power companies, only one of which already exists, will acquire the CSPC assets. The Huaneng Power Corporation will evolve into an independent power company.

The Chinese power grid will be yielded to two new companies; Southern Power Grid Corporation will control Guangdong, Hainan, Yunnan Guizhou, and Guangxi provinces, and the State Power Grid Corporation will initiate five companies to supply north, northeast, northwest, east, and central areas, including Tibet, although it will continue to hold controlling shares of all five.

The new power companies will vie for contracts from the grid operators, and assets will be up for sale once the reforms are launched. The State Development Planning Commission hopes that a fair market will develop from such reforms, and also asserts that companies will receive a lot of incentives for clean power generation.

An independent organization will also be created to monitor the new market.

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