NRC Issues Subsequent License Renewals for First Time to Nuclear Reactors in Florida

LCG, December 11, 2019--The Nuclear Regulatory Commission (NRC) staff recently approved Florida Power & Light's (FPL's) application for an additional 20 years of operation for Turkey Point Nuclear Generating Units 3 and 4. This is the first time the NRC has issued renewed licenses authorizing reactor operation from 60 to 80 years. The subsequent (or second) license renewals (SLRs) for Turkey Point Unit 3 and Unit 4 now expire on July 19, 2052 and April 10, 2053, respectively.

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New York Poised to Close Last Coal-fire Power Plant

LCG, December 4, 2019--The last operating coal-fired power plant in New York is moving toward closure shortly. Last month, Somerset Operating Company, a subsidiary of Riesling Power LLC, submitted a request to the New York State Public Service Commission (NYSPSC) to waive the state's required, 180-day notice to close the Somerset Station, allowing the facility to be retired on February 15, 2020. Closure is contingent on approvals by both NYSPSC and the New York Independent System Operator (NYISO), which will evaluate if it will cause an adverse effect on grid reliability.

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Press Release

Workshop on Valuing Congestion Revenue Rights in the California MRTU

For immediate release. LCG Consulting will host a workshop covering methodologies for valuing Congestion Revenue Rights (CRR) in the Californian electricity market.

Date: September 9, 2009
Venue: Stanford University

The Market Redesign and Technology Upgrade (MRTU) launched by the California Independent System Operator (CAISO) on March 31, 2009 brought comprehensive changes in the way power markets are operated in California. Wholesale power is now offered at thousands of locations throughout the CAISO network, presenting participants with a new set of opportunities in conjunction with associated risks.

The key financial product with which market participants can arm themselves in this locational marketplace is the Congestion Revenue Right (CRR). CRRs can be used to protect existing positions and to create new opportunities.

Because there is very little history behind this product, the level of sophistication needed to effectively manage CRRs in these markets is lacking. This workshop will facilitate a discussion between market participants on this topic and cover some advanced techniques for effective CRR valuation.

For more information on this event, please refer to the following link. CRR Workshop

Staff Contact:

Madeline Chen
1-650-962-9670 ext. 111

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