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South Field Energy Breaks Ground for 1,182-MW Power Plant

LCG, May 16, 2019--South Field Energy LLC announced yesterday its groundbreaking for an 1,182-MW, combined-cycle electric generating facility in Columbiana County, Ohio. The natural gas-fired facility is scheduled to commence operations in mid-2021 and represents a $1.3 billion investment.

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Exelon to Shut Down Three Mile Island by September 30, 2019

LCG, May 10, 2019--Exelon Generation announced Wednesday that Three Mile Island Generating Station Unit 1 (TMI) will shut down by September 30, 2019. The Nuclear Regulatory Commission (NRC) had approved back in 2009 a 20-year extension for the nuclear energy facility through 2034.

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Industry News

Enron's Former Treasurer Under Investigation

LCG, Dec. 30, 2002--The former treasurer for Enron, Ben Glisan Jr., acknowledged in a filing last week in Houston federal court that he is the subject of investigation by the Justice Department, which tried in October to freeze assets in accounts held by Glisan.

Although Glisan is not what is known as a "target" of the investigation, federal prosecutors' labelling of him as a "subject" means in standard terminology used by the Justice Department that his role within Enron may shed light on criminal activity. With his background in accounting, Glisan was one of chief financial officer Andrew Fastow's most senior associates. His filing argued that the attempt to have more than $600,000 worth of assets held in a brokerage and other accounts seized could, if successful, mean that "his right against self-incrimination in the related criminal investigation will be burdened."

According to the Justice Department, the assets were the result of criminal activity, and came from investments in partnerships run by Andrew Fastow which were represented as being independent of Enron. Mr. Glisan had made investments of $5,800 that returned $1 million. Another executive who worked closely with Fastow, Michael Kopper, pleaded guilty in October to conspiracy to defraud Enron and its investors. That plea led to the Justice Department's forfeiture action.

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