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JEA Board Approves Transaction with FPL to Close 848-MW Coal Unit in Georgia

LCG, June 30, 2020--The JEA Board of Directors in a special meeting last Friday unanimously approved a transaction that will result in closing an 848-MW unit at Plant Scherer and entering into a 20-year purchase power agreement (PPA) with Florida Power & Light Company (FPL).

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Analysis of Resource Adequacy in ERCOT - July - December 2020

LCG, June 30, 2020 - LCG Consulting just released its analysis of ERCOT for the second half of 2020, July through December.

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Industry News

New York Announces Plans to Procure Approximately 800 MW of Offshore Wind

LCG, July 13, 2018--The Governor of New York yesterday announced that the New York State Public Service Commission (PSC) has agreed upon plans for the state's first procurements of offshore wind to support New York's goal of installing 2,400 MW of new offshore wind generation by 2030. The new capacity will be important to achieving New York's goal of satisfying 50 percent of its energy requirements with renewable energy by 2030. The goal is part of the Governor's Clean Energy Standard, which was adopted by the PSC in 2016.

New York State Energy Research & Development Authority (NYSERDA) plans to procure approximately 800 MW of offshore wind through a solicitation issued in the fourth quarter of this year, in consultation and coordination with the New York Power Authority (NYPA) and the Long Island Power Authority (LIPA). Awards are expected to be announced in the second quarter of 2019.

The Governor stated, "This action represents another major step toward establishing a clean energy future that is secure, reliable and cost-effective. Robust offshore wind development is not only critical to meeting our clean energy and carbon reduction goals, this investment has the potential to create thousands of jobs and fuel a $6 billion industry for New York as it combats climate change."

NYSERDA is also now authorized to include commitments to project labor agreements and prevailing wages as contract requirements for any awarded project. Further, the order includes provisions to ensure that any awarded offshore wind projects consider the interests of ocean users such as commercial and recreational fishing, environmental stakeholders and coastal communities.

An added feature of these solicitations is that NYSERDA will procure Offshore Wind Renewable Energy Certificates (ORECs) from awarded facilities. Each electric utility and other third-party suppliers of electricity serving retail customers in New York will support these new offshore wind resources through the purchase of ORECs from NYSERDA.
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