Offshore Wind Projects Receive Boost from Massachusetts and Biden Administration

LCG, March 31, 2021--The Governor of Massachusetts signed legislation last Friday that authorizes the state to direct utilities to purchase an additional 2,400 MW of offshore wind energy by 2027.

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NV Energy's Greenlink Nevada Transmission Project Approved by PUCN

LCG, March 25, 2021--The Public Utilities Commission of Nevada (PUCN) on Monday approved proceeding with NV Energy's Greenlink Nevada transmission and renewable energy initiative. NV Energy's planned investment in Greenlink is over $2.5 billion.

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Industry News

BP and Reliant Respond to Western Manipulation Fine

LCG, Apr. 18, 2003--BP Energy and Reliant Resources, having received a "show cause" order from the Federal Energy Regulatory Commission regarding "apparent" market manipulation by traders they employed, responded this week by saying the penalties proposed were excessively punitive.

Three separate incidents were cited by FERC in which a BP trader initiated discussions on electric power trades to be conducted at Arizona's Palo Verde trading hub. As part of a penalty, FERC could strip the companies' licenses to trade.

Reliant Resources said that consideration should be given to the company's having revealed evidence on a trader's practices and communications that served as the basis for FERC's order. Company representatives also said that while the actions by the former trader were "plainly wrong," no harm actually occurred in the market, as the trades were not outside the market levels seen at the time. Reliant also said it had undertaken "significant and meaningful reforms in its trading operations."

BP asserted that the trades were not meant to manipulate the market, and did not lead to profits being realized by its trader. While it said it "regrets and apologizes for the trader's conduct relate to these trades," BP Energy contended that stripping its license would be "significantly disproportionate to the alleged misconduct."

Reliant Resources announced in early March that it would exit energy trading following an $80 million loss it suffered in the natural gas market.
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