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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

TVA Issues Update on Completion of Watts Bar Unit 2

LCG, October 30, 2013--The Tennessee Valley Authority (TVA) yesterday issued a quarterly update on the construction of the 1,180-MW, Watts Bar Unit 2 nuclear power plant, located in Spring City, Tennessee. TVA stated that the carbon-free, nuclear project remains on track for most likely completion by December 2015 and within a cost range of $4 billion to $4.5 billion.

TVA reports that safety performance is strong and the quality control acceptance rate is high. Furthermore, bulk construction is in the final phase, and the project is transitioning to complete work and prepare plant systems for pre-operational testing. TVA received a Nuclear Regulatory Commission (NRC) license for fuel to use in Unit 2, and the fuel deliveries commenced last summer.

The original construction on Watts Bar 2 started over 40 years ago in 1972. However, when load growth forecasts dropped in 1988, the unit was deferred. When Watts Bar 1 began commercial operations in May 1996, it became the last commercial nuclear unit in the United States to come on-line.

Construction on Unit 2 resumed in 2007. In April 2012, TVA announced problems with the project, and that the project approved by the TVA board in 2007 appeared "aggressive but doable? at that time. However, TVA further 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."
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