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NextEra Energy Completes Purchase from Southern Company of Ownership Interests in Two Florida Power Plants

LCG, December 5, 2018--NextEra Energy announced yesterday that it completed the acquisition of Southern Company's indirect ownership interests in the Stanton and Oleander natural gas power plants in Florida. The acquisition was previously announced in May of this year.

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Emera to Sell Three Combined-Cycle Power Plants in New England

LCG, November 29, 2018 --Emera Inc., headquartered in Halifax, Nova Scotia, announced this week that it has agreed to sell three natural gas-fired electric generating facilities that it owns in New England to the investment firm Carlyle Group for $590 million. The combined electric generating capacity of the three facilities is approximately 1,100 MW. The acquisition is expected to close in first quarter 2019.

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Industry News

Lawsuit Filed to Void Long-Term Electricity Contracts

LCG, May 1, 2002-California Senator Tom McClintock of Thousand Oaks (R ) filed a lawsuit this morning in California Superior Court alleging an energy consultant violated the law in writing long-term energy contracts.

McClintock's suit asserts that state energy consultant Vikram Budhraja did not follow government code when he assisted negotiation of last year's electricity contracts.

California government employees are forbidden to write contracts in which there is conflict of interest, such as if a retainer exceeds five percent of a person's total yearly income.

Budhraja has served at several executive posts for Edison International, parent to Southern California Edison utility, and resigned in January of 2000. Reportedly Edison International gave Budhraja a retainer of over $100,000 last year and renewed the retainer for 2002. His own company is under contract to receive - over about a 3 year period starting in 2001 - $6.2 million from California for consulting work.

Southern California Edison's generation division, Edison Mission Energy, now has a ten-year contract with California's Department of Water Resources, but Edison Mission insists that Budhraja was not involved with that contract.

Department of Water Resources spokesman Oscar Hidalgo also asserts that the suit has no merit and is merely a political move on the part of McClintock.

The suit has been filed in the wake of the renegotiation of eight long-term California energy contracts, rewritten because they were deemed unreasonably costly.

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