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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

Duke Affiliate Settles Charges of False Reporting

LCG, Sept. 17, 2003--Duke Energy Trading & Marketing, an affiliate of Duke Energy Corp., was issued an order by the Commodity Futures Trading Commission to pay $28 million, based on the agency's findings that the affiliate had knowingly reported false trading information to publishers of natural gas transactions, charges that the company neither admitted nor denied.

The CFTC stated that price and volume information was falsified in cash-based transactions, some of which did not in fact take place. The regulatory agency also concluded that reporting by Duke Energy Trading & Marketing could have had an effect on prices of natural gas futures contracts traded on the New York Mercantile Exchange. The time during which the reporting was to have taken place is January 2000 through August 2002, through the Houston office.

The $28 million consitutes a civil penalty, and is linked with a pledge by Duke of cooperation in further fact-finding by the CFTC.
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