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

East Timor and Australia Disagree over Gas-Related Borders

LCG, July 12, 2002--East Timor, a newly autonomous nation, has claimed that gas-rich areas of the Timor Sea are within its borders, in conflict with Australia's claims.

East Timor and Australia have been interested in waters containing the Sunrise gas field, which is as yet undeveloped but promises to provide billions in royalties for the controlling nation.

Currently 80 percent of the field is in Australian waters, but East Timor has provisionally approved a maritime boundary 200 nautical miles beyond its coast and encompassing the Sunrise field.

Control over oil and gas development Bayu-Undan is also affected by boundary changes. 90 percent of royalties were to go to East Timor, but the new provisional vote yields 100 percent.

Australia is very unlikely to agree to East Timor's boundary claims, and some contend that negotiations may drag on for years. In March of this year Australia left International Court of Justice maritime jurisdiction, a move that may prove detrimental to East Timor in that the country will not be able to appeal to the International Court.

Australian company Woodside Petroleum Ltd., as well as Osaka Gas Co. Ltd., Royal Dutch/Shell, and Phillips Petroleum, make up the joint venture of Sunrise. Phillips Petroleum leads the Bayu-Udan project, an endeavor including Santos Ltd., Inpex Corp., Agip S.P.A., and Kerr-McGee Corp.

How Sunrise will be developed is yet to be determined, but the project will either involve offshore liquified natural gas operation or a pipeline of gas into Australia's Northern Territory. Disagreements over national borders will not significantly hinder the project, which is due to begin operations by 2007.

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