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Graphic Packaging and NextEra Energy Resources Sign 250-MW Virtual Power Purchase Agreement

LCG, April 29, 2026--Graphic Packaging Holding Company today announced a virtual power purchase agreement (VPPA) with NextEra Energy Resources, LLC. With the VPPA agreement, NextEra Energy Resources plans to build the Selenite Springs Energy Center, a 250-MW solar energy facility in West Texas, and Graphic Packaging will be the sole buyer of the facility's renewable energy attribute certificates. Graphic Packaging, a global provider of sustainable consumer packaging, expects the agreement to cover approximately 43 percent of its 2025 electricity usage in the U.S. and Canada. The agreement will advance Graphic Packaging's commitment to source renewable electricity and reduce its greenhouse gas (GHG) emissions.

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PJM Announces More Than 800 New Generation Projects Seek to Connect the Grid

LCG, April 29, 2026--PJM Interconnection today announced that 811 new generation projects applied to connect to the grid through the first Cycle of PJM's new reformed interconnection process, which is designed to improve the certainty, speed and discipline of generation project review. In total, the generation applications would be capable of generating 220 GW of electricity.

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Industry News

CPUC Clarifies Power Bond Measures

LCG, September 26, 2002-The California Public Utilities Commission released more information regarding its power revenue plans.

Wednesday, the California Public Utilities Commission publicized proposals to raise revenue in order cover costs to the state for its purchases of electricity and improve its utilities' credit ratings.

A proposed bond measure, previously announced as being $11.9 billion, may be repaid via utility rates, according to the PUC release. A charge of between $0.64 and $1.07 per kilowatt-hour would be added to rates beyond rates applied to Pacific Gas & Electric utility and Southern California Edison customers.

$6.6 billion of the bond revenue will go to the state's general fund, and the bond sale will be held in about 30 days.

The PUC also proposed a $0.04 per kilowatt-hour charge on rates to be put towards current and future electricity purchases, as was levied during the 2000/2001 energy crisis.

A third surcharge proposal involves placing a $0.027 per kilowatt-hour charge on direct access customers, which would be used to repay the California Department of Water Resources procurement costs. The DWR bought power on behalf of the state during the electricity crisis because utilities did not have good enough credit ratings to sign contracts with energy companies.

The last announced PUC proposal relates to employing bill AB 57, which was passed in order to bring about prompt review of contracts and procurement cost recovery.

Opinion on the proposals will be considered over the next 20 days.

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