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

DTE Announces Acquisition of Peaking Plant from LS Power

LCG, November 11, 2014-DTE Energy yesterday announced its plan to acquire the gas-fired, Renaissance Power Plant from The LS Power Group for $240 million. The plant, located in Carson City Michigan, is a simple-cycle facility with an electric generating capacity of 732 MW. DTE expects to complete the purchase during the first quarter of 2015.

The acquisition of the Renaissance Power Plant will provide DTE additional peaking capacity to support resource adequacy requirements and complement intermittent renewable resources. DTE Electric's President and Chief Operating Officer stated, "The purchase of Renaissance Power provides DTE customers with a safe, affordable, reliable and clean generation resource at a cost that is significantly below new build. Tightening supply markets for electricity in the region are expected to cause prices in the state and region to rise and become more volatile. This acquisition helps protect our customers from these dynamics."

The Renaissance Power Plant includes four Siemens-Westinghouse 501FD2 simple-cycle combustion turbines, which achieved commercial operation between 2002 and 2003.
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