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

Mirant Says It Has No Financing For Wisconsin Plant

LCG, July 9, 2002--A plant that was to be constructed in Portage County, Wisc., in April does not have the necessary financing, according to the developer, Mirant Corp.

"The tightening of the capital market for the merchant power sector still exists. In light of that, we are selectively moving forward on projects," David Payne, Mirant spokesman, said. Payne stated that the company would still proceed with permitting activity, even though the plant was not part of the current annual capital budget.

The plant, intended to be built in the town of Plover, was to include a combined-cycle plant of 590 megwatts, as well as four 83-megawatt combustion turbines.

Wisconsin Energy, along with independent power producers Mirant and the PG&E National Energy Group, are all interested in building plants as part of a plan to expand generating capacity within Wisconsin, Power the Future. Wisconsin Energy, which is a utility, is seeking approval from the Public Service Commission to install 2,800 megawatts of new capacity by 2011, at a cost of $3 billion. The independent producers have participated in regulatory hearings with the hope of being allowed to bid to build Power the Future plants.

While a spokesman for We Energies, a Wisconsin Energy subsidiary, expressed concern over whether projects such as the Plover plant are going to be built as promised, an attorney for Midwest Power Producers, Freddi Greenberg, said, "It's costing a lot of money to participate in this litigation at the PSC. People are not going to spend the kind of money that it takes to participate in a regulatory proceeding unless they are serious about entering the market." The independents contend that financing by lenders is contingent upon the companies' ability to secure market share, and that the amount of capacity to be built by Wisconsin Energy would affect lenders' view of the projects.
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