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

El Paso Chief Exec to Resign

LCG, February 11, 2003-William Wise, chief exectutive officer of the El Paso Corporation, announced his resignation Monday, although he will stay on through this year.

El Paso Corporation, a natural gas pipeline company, has been facing severe debt, in addition to lawsuits, and last week declared $2.9 billion in asset sales as well as a large cut in annual dividends, from 87 cents to 16 cents per share.

Shareholders, including an investor group led by the largest single shareholder, Selim Zilhka, have been rallying for changes in the El Paso board and the replacement of the management team.

Wise has worked for El Paso for 33 years and as CEO beginning in 1990. He will stay on until a new CEO is found and keep his title as chairman through this year.

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