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JEA Board Approves Transaction with FPL to Close 848-MW Coal Unit in Georgia

LCG, June 30, 2020--The JEA Board of Directors in a special meeting last Friday unanimously approved a transaction that will result in closing an 848-MW unit at Plant Scherer and entering into a 20-year purchase power agreement (PPA) with Florida Power & Light Company (FPL).

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Analysis of Resource Adequacy in ERCOT - July - December 2020

LCG, June 30, 2020 - LCG Consulting just released its analysis of ERCOT for the second half of 2020, July through December.

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Industry News

Federal Prosecutors Say El Paso Calls Show Conspiracy

LCG, Jan. 13, 2002--During a court hearing today, an Assistant U.S. Attorney, John Lewis, said that the Justice Department has evidence of attempts by the natural gas pipeline owner El Paso Corp. to manipulate the natural gas market during the past two years.

A spokeswoman for El Paso, Norma Dunn, said that the company's ethics would not allow false reporting of price data. The company, which has been cooperating with prosecutors in the U.S. Attorney's Houston office, said that it had uncovered evidence of more false reporting in addition to what it had previously disclosed. El Paso Corp. has maintained that those involved are no longer with the company, which is ending its trading operations.

Charges were brought by prosecutors against Todd Geiger, a former trader for El Paso, in December, for submitting false trades to an industry publication. The publisher of the publication Inside FERC Gas Market Report, Platts, is a subsidiary of McGraw-Hill Cos. Platts said that it did not incorporate the prices reported by Geiger into its indexes, because they fell outside the range of other reported trades. It has not yet made a statement on what happened in the case of other reported trades.

Much of the government's evidence is provided by the substance of 130 to 140 recorded phone calls between traders, which were provided by El Paso on Friday. U.S. District Judge Nancy Atlas today scheduled March 24 as the trial date for Mr. Geiger.
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