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

Southern Company Withdraws Request for Loan Guarantee for Kemper County Coal Project

LCG, April 5, 2013--Southern Company announced that it has withdrawn its request for a $1.5 billion loan guarantee from the U.S. Department of Energy (DOE) for its Kemper County coal project, which is currently under construction by its subsidiary, Mississippi Power. The company concluded that lower-cost financing could be obtained relative to what it expected from the DOE.

"Mississippi Power has secured financing at a lower rate than our certified projected Department of Energy loan, reducing overall costs to customers," stated a Southern Company spokesperson. Furthermore, the spokesperson stated that Southern's withdrawal of its load request is not related to recent actions of the Mississippi Public Service Commission related to rate increases and paying off project debt prior to commencement of operations.

Plant Ratcliffe, located in Kemper County, Mississippi, is a 582-MW IGCC (Integrated Gasification Combined Cycle) project. In December 2010, Mississippi Power held the ground breaking ceremony for the project, and the estimated cost of the project was then $2.4 billion, and operations were targeted to commence in 2014. The project cost is now estimated to be over $3.2 billion, and there is a May 2014 deadline to start service to retain certain tax incentives.
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