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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

Dynegy's Online Trading Site Shut Down

LCG, June 20, 2002--The online electric power and energy product trading site Dynegydirect ceased operations at the close of business yesterday.

The closure of the site, which was reportedly used by 2,300 buyers and sellers, followed layoffs of at least 50 traders. Site operator Dynegy Inc. served as a market maker on the site, acting as the other participant in sales and purchase transactions. Spokesman Steve Stengel said, "I can confirm that we have stopped electronic trading on Dynegydirect. We will continue to trade with customers in North America and the U.K. by phone."

Consolidation of energy-related business activities and a general retrenchment within energy trading in particular has occurred as companies try to improve their credit ratings. As a result, traders still doing business have commented on the loss of liquidity. Dynegydirect offered 750 products, including natural gas and coal as well as electric power.

On top of 340 employees who have been laid off by Dynegy, a senior executive, Rob Doty, the company's chief financial officer, has announced his resignation. Doty, who joined the firm in 1997, is being succeeded by Louis Dorey, the president of the energy marketing division.
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