Offshore Wind Projects Receive Boost from Massachusetts and Biden Administration

LCG, March 31, 2021--The Governor of Massachusetts signed legislation last Friday that authorizes the state to direct utilities to purchase an additional 2,400 MW of offshore wind energy by 2027.

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NV Energy's Greenlink Nevada Transmission Project Approved by PUCN

LCG, March 25, 2021--The Public Utilities Commission of Nevada (PUCN) on Monday approved proceeding with NV Energy's Greenlink Nevada transmission and renewable energy initiative. NV Energy's planned investment in Greenlink is over $2.5 billion.

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Industry News

Washington State Utilities Hope for Refunds Based on Enron Memos

LCG, May 14, 2002--The trading strategies used by Enron's Western traders and the associated discussion in Dec. 2000 legal memos form the basis for a planned legal brief by Washington utilities seeking refunds for expensive power purchases.

Seattle City Light and Tacoma Public Utilities will seek to recover $348 million paid for short-term power purchases from Enron and other power marketers. The utilities will again argue before an administrative law that the sales did not represent "just and reasonable" criteria enforceable by the Federal Energy Regulatory Commission (FERC). Their arguments were rejected last fall, but may be seen in a different light since Enron's corporate attorneys' description of methods by which the company gamed the market in late 2000 and early 2001 have come into focus.

Perhaps ironically, the FERC has sent letters to Seattle City Light among other public utilities as well as large traders, in order to determine whether their trading activities were designed to take advantage of the situation in California, where flexible price caps were placed on in-state generation. If refunds are found to be justified, the recovery of actual funds may be very difficult, due to the number of creditors interested in Enron's bankruptcy proceedings. For the moment, Seattle City Light's rate increases following the power market crisis of the past year amount to 60 percent.

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