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New York Poised to Close Last Coal-fire Power Plant

LCG, December 4, 2019--The last operating coal-fired power plant in New York is moving toward closure shortly. Last month, Somerset Operating Company, a subsidiary of Riesling Power LLC, submitted a request to the New York State Public Service Commission (NYSPSC) to waive the state's required, 180-day notice to close the Somerset Station, allowing the facility to be retired on February 15, 2020. Closure is contingent on approvals by both NYSPSC and the New York Independent System Operator (NYISO), which will evaluate if it will cause an adverse effect on grid reliability.

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Construction Commences on Enel’s Aurora Wind Farm in North Dakota

Enel Green Power North America, Inc. (“EGPNA”), the US renewable energy company of the Enel Group, has started construction of the 299-MW Aurora Wind Farm in North Dakota.

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Industry News

Duke Reports 23 Round-Trip Trades

LCG, July 16, 2002-Today Duke Energy Corp. acknowledged that it made 23 round-trip electricity trades.

The round-trip trades, which involve selling and then buying electricity at one price to and from the same company for the purpose of boosting trading volume, comprise some $126 million worth of trades on the Intercontinental Exchange, which is one of the world's largest electronic exchanges.

This admission came after the U.S. Securities and Exchange Commission informally requested trading information and the Commodity Futures Trading Commission subpoenaed the company.

While most of Duke's revenue is derived from utilities and gas transmission, and the company still retains a high investment-grade credit rating, one Duke manager was put on leave recently, a move apparently related to the current investigation.

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