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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

Interior to Offer Incentives for Gas Drilling in Gulf of Mexico

LCG, Jan. 23, 2004--Royalty relief for companies drilling for natural gas in the Gulf of Mexico were announced today by Interior Secretary Gale Norton as a way of boosting gas supply.

The relief would be offered for drilling at depths beyond what is now considered economical, as well as for extensions of existing wells that head in new directions. If the price of natural gas rose to a particular point, the relief would be suspended, Norton said.

Johnnie Burton, director of the Minerals Management Service within the Department of the Interior, said, "Since infrastructure and lease-specific facilities are already in place, the Outer Continental Shelf is one of the best available sources for additional near-term domestic natural gas supply to meet the nation's needs." Although Norton acknowledged that the relief would have some impact on the Treasury, she stated that the relief would lead to employment in drilling and a savings to consumers of about $570 million.
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