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ERCOT 2019 Summer Quarter Outlook

LCG, May 29, 2019-- LCG released a new summer (June – September 2019) report that looks at how the ERCOT grid copes with strained network conditions. Resource adequacy analysis for the region is especially important during extreme summer loading conditions. This summer the network is under particular scrutiny as the reserves have tightened because of recent retirements.

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South Field Energy Breaks Ground for 1,182-MW Power Plant

LCG, May 16, 2019--South Field Energy LLC announced yesterday its groundbreaking for an 1,182-MW, combined-cycle electric generating facility in Columbiana County, Ohio. The natural gas-fired facility is scheduled to commence operations in mid-2021 and represents a $1.3 billion investment.

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Industry News

TVA Announces Expected Cost Increase and New Schedule for Watts Bar Nuclear Reactor

LCG, April 6, 2012--The Tennessee Valley Authority (TVA) announced yesterday cost increases and schedule delays for the construction of the 1,180-MW, Watts Bar Unit 2 nuclear power plant, located in Spring City, Tennessee. The announcement follows a seven-month construction review.

TVA's senior vice president for Nuclear Construction stated, "The emerging estimate to complete Watts Bar Unit 2 will require additional funding of $1.5 billion to $2 billion, putting the total estimated cost of completion in the range of $4 billion to $4.5 billion. The estimated time to complete is between September and December of 2015."

TVA's president and CEO stated the initial detailed scoping, estimating and planning study (DSEP) completed and approved by the TVA board in 2007 appeared "aggressive but doable" at that time. In 2007, the DSEP approved a project with a 60-month construction schedule and a cost of $2.49 billion.

TVA's CEO stated, "Based on the findings to date, we will be asking the TVA board of directors to approve the continued funding and the extended construction time for Unit 2 at Watts Bar Nuclear Plant." The board is expected to consider the new budget and schedule later this month.

TVA now has in place new management at the site. TVA's senior vice president for Nuclear Construction stated, "We now have a high-confidence cost estimate and milestone schedule. The safe and quality cost-effective completion of Watts Bar Unit 2 is an integral part of achieving TVA's energy goals as set out in the Integrated Resource Plan. And, we have added contingency and an allowance for addressing Fukushima impacts."

Construction on Watts Bar 2 actually began 40 years ago in 1972. The unit was deferred in 1988, when load growth forecasts shrank. Work to complete the unit resumed in 2007. Watts Bar 1 is the last commercial nuclear unit in the United States to come online, and it commenced commercial operation in May 1996.

TVA has received a Nuclear Regulatory Commission (NRC) license for fuel at Watts Bar for use in Unit 2, and the new fuel began arriving last summer.
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