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Avangrid and Puget Sound Energy Sign PPA, Including Upgrade and Life Extension, for Washington Wind Project

LCG, May 19, 2026--Avangrid, Inc., a member of the Iberdrola Group, today announced the signing of a long-term Power Purchase Agreement (PPA) with Puget Sound Energy (PSE) for the 199.5-MW Big Horn I wind project in Klickitat County, Washington. This agreement represents the fourth PPA executed by the two companies for projects in the Pacific Northwest.

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DOE Acts to Ensure Key Coal-fired Power Plants Are Available in MISO to Supply Peak Summer Demands

LCG, May 18, 2026--The U.S. Secretary of Energy today issued an emergency order to address critical grid reliability issues in the Midwest anticipated this summer. The order is in effect beginning on May 19, 2026, through August 16, 2026. The emergency order directs the Midcontinent Independent System Operator (MISO), in coordination with Consumers Energy, to ensure that the J.H. Campbell coal-fired power plant (Campbell Plant) in West Olive, Michigan shall take all steps necessary to remain available to operate and to minimize costs for the region.

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Industry News

Former Executive Involved in Project Alpha at Dynegy Sentenced

LCG, Mar. 29, 2004--Jamie Olis, a former executive and tax-planning specialist at Dynegy Inc., was sentenced to prison for more than 24 years by a federal judge in district court in Houston last week.

Olis, 38, decided to plead not guilty to charges stemming from his role in setting up Project Alpha, which characterized a loan as cash flow. Project Alpha was said to make the company's financial condition appear better than it actually was. The sentence was based on recently imposed sentencing guidelines for business crimes. Under the earlier guidelines, Olis' conviction might have resulted in a seven-year sentence.

Prosecutors contended that Project Alpha should be considered for its impact on Dynegy shareholders, who experienced investment losses when the nature of the accounting scheme was revealed. Two others who took part in the accounting treatment, including Gene S. Foster, Olis' former boss, and Helen C. Sharkey, a former specialist in risk-assessment, submitted guilty pleas and are likely to receive sentences of less than five years. Mr. Olis' lawyer, David Gerger, was quoted in the New York Times as saying, "The government is on a witch hunt, and today the witch hunt netted a very small fish."
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