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New York Announces 1,700 MW of New Offshore Wind Projects and 70 Percent Renewables Requirement by 2030

LCG, July 22, 2019--The Governor of New York announced last Thursday that the State has executed the nation's largest offshore wind agreement - totaling approximately 1,700 MW - in U.S. history. The Governor also signed the Climate Leadership and Community Protection Act (CLCPA), which includes a mandates of 9,000 MW of offshore wind by 2035, 70 percent renewable energy by 2030, plus a Zero-Carbon Emission Electric Sector by 2040.

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Georgia PSC Approves Georgia Power's 2019 IRP

LCG, July 18, 2019--The Georgia Public Service Commission (PSC) has unanimously approved Southern Company subsidiary Georgia Power's 2019 Integrated Resource Plan (IRP), which was submitted in late January.

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Industry News

Midwest ISO Commences Commercial Operations of New, LMP-Based Market

LCG, April 4, 2005--The Midwest Independent Transmission System Operator (Midwest ISO) formally began commercial operations of its new, Day-Ahead and Real-Time electricity markets on April 1, 2005. Elements of the new market design include centralized, security-constrained unit commitment; security-constrained economic dispatch; locational marginal pricing (LMP); and a market for financial transmission rights (FTRs).

The Federal Energy Regulatory Commission (FERC) conditionally accepted the Midwest ISO's proposed Open Access Transmission and Energy Markets Tariff (TEMT) last August. The implementation of the new market design is another landmark following the FERC's release of Order 2000 in December 1999 and its subsequent efforts to create Regional Transmission Organizations (RTOs). The Midwest ISO's new market design is based upon the FERC's Standard Market Design (SMD) and is similar to the electricity markets of the northeast, i.e., PJM, the New York ISO and ISO New England.

The Midwest ISO service territory extends from eastern Montana through the upper Midwest - including Manitoba - and south to parts of Kentucky and Missouri. With the implementation of the TEMT, the FERC's SMD, with LMP-based pricing, will generally be in use throughout the northern half of the Eastern Interconnect.

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