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

Ontario Government Outlines Power Price Increases

LCG, Dec. 2, 2003--The Ontario government announced today by how much rates for power would increase for different customer classes and levels of consumption, marking the definitive end of an earlier promise to keep a price cap in place through 2006.

The plan will take effect in April of next year, and stipulates that consumption by residential and small users of up to 750 kilowatt-hours will cost 4.7 Canadian cents (3.6 cents U.S.) per kWh. Beyond that level of consumption, the price would be 5.5 Canadian cents (4.24 cents U.S.) per kWh. The cap, which was set below the market price of electricity, is currently 4.3 Canadian cents per kWh.

Commercial power consumption between 50,000 kilowatt-hours and 250,000 kilowatt hours would experience rate increases of between 15 and 18 percent. Dwight Duncan, Energy Minister for the recently installed Liberal government, said, "Our government understands that the proposed prices would have an impact on people, but clearly the current fixed price is not sustainable, nor is it responsible, and it does nothing to encourage consumers in this province to conserve energy."

The plan would serve as an interim step until the Ontario Energy Board, which regulates the power sector, develops its own plan by May 1, 2005. The power industry group Ontario Energy Association commended the message from the government. "This is a very important and positive signal to the industry and will help boost investor confidence," said chairman Art Leitch in a statement.
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