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 Cancels South Korean Plant

LCG, July 24, 2002-U.S. company Mirant Corp. has changed plans to construct a 520 MW plant in South Korea and has plans to pull out of South Korea completely.

Previously, Mirant had announced that it would invest $300 million in South Korea once the country had begun privatizing its electricity industry, a move slated to begin later this year.

Now the company intends to sells its right to build a plant and later withdraw entirely from the South Korean market.

Financial concerns have added to the decision, and Mirant is concentrating on limiting debt and therefore has plans to sell $1.6 billion in assets.

Mirant's Singapore office will close, and the company's Asia-Pacific staff has been cut by about 35 percent.

Earlier this year South Korea decided to proceed with privatizing its electricity industry despite significant public protest and striking.

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