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

Federal Judge Finds Legal Basis for PG&E Utility Rate Case

LCG, July 31, 2002-Federal Judge Vaughn Walker ruled that the Pacific Gas & Electric California utility had legal basis for its contention that state regulators unfairly prevented it from raising customer rates.

Pacific Gas & Electric utility filed for bankruptcy last year during the California energy crisis, when disparity between wholesale electricity rates and mandated customer rates stretched the utility's finances.

The utility wants to recover as much as $8.1 billion from customers and charges that the rate freeze prevented the utility from staying out of the red.

Judge Walker ruled that the utility had legal ground to stand on and a case management conference has been set for August 16.

State regulators contend that PG&E took in billions in surplus money before the energy crisis because of the rate freeze, $7.1 billion of which was used to pay dividends, buy back stock, and retire debt.

PG&E has over $13 billion in outstanding debt.

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