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New York Announces 1,700 MW of New Offshore Wind Projects and 70 Percent Renewables Requirement by 2030

LCG, July 22, 2019--The Governor of New York announced last Thursday that the State has executed the nation's largest offshore wind agreement - totaling approximately 1,700 MW - in U.S. history. The Governor also signed the Climate Leadership and Community Protection Act (CLCPA), which includes a mandates of 9,000 MW of offshore wind by 2035, 70 percent renewable energy by 2030, plus a Zero-Carbon Emission Electric Sector by 2040.

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Georgia PSC Approves Georgia Power's 2019 IRP

LCG, July 18, 2019--The Georgia Public Service Commission (PSC) has unanimously approved Southern Company subsidiary Georgia Power's 2019 Integrated Resource Plan (IRP), which was submitted in late January.

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Industry News

FERC Approves Louis Dreyfus to Trade Electricity

LCG, Oct. 14, 2002--The privately owned bank Louis Dreyfus received approval this month from the Federal Energy Regulatory Commission (FERC) after it sought to trade electric power and ancillary services.

Dreyfus trades commodities in over 50 countries, and applied in July with FERC to trade power in the United States. Among the ancillary services Dreyfus intends to offer are imbalance and spinning reserves within the PJM Interconnection, as well as through New York Independent System Operator (ISO), New England Power Pool and the California ISO. Spinning reserves are called upon when either an unexpected loss of generating capacity or a quick increase in demand necessitates that a running generator provide additional power.

A business unit of Dreyfus, Louis Dreyfus Electric Power Inc. has had approval to trade power since 1992. Rather than use the approval granted to that unit, the company decided for "business, commerical and corporate reasons" to create Louis Dreyfus Energy LLC.

As a condition of Dreyfus' ability to trade, it may need to submit reports to the FERC to show "that neither public nor private interests will be adversely affected by continued approval of Louis Dreyfus Energy's issuances of securities or assumptions of liability."
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