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Avangrid and Puget Sound Energy Sign PPA, Including Upgrade and Life Extension, for Washington Wind Project

LCG, May 19, 2026--Avangrid, Inc., a member of the Iberdrola Group, today announced the signing of a long-term Power Purchase Agreement (PPA) with Puget Sound Energy (PSE) for the 199.5-MW Big Horn I wind project in Klickitat County, Washington. This agreement represents the fourth PPA executed by the two companies for projects in the Pacific Northwest.

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DOE Acts to Ensure Key Coal-fired Power Plants Are Available in MISO to Supply Peak Summer Demands

LCG, May 18, 2026--The U.S. Secretary of Energy today issued an emergency order to address critical grid reliability issues in the Midwest anticipated this summer. The order is in effect beginning on May 19, 2026, through August 16, 2026. The emergency order directs the Midcontinent Independent System Operator (MISO), in coordination with Consumers Energy, to ensure that the J.H. Campbell coal-fired power plant (Campbell Plant) in West Olive, Michigan shall take all steps necessary to remain available to operate and to minimize costs for the region.

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Industry News

AEP to Split into Two Firms, Target Wholesale Power

LCG, Nov. 1, 2000--American Electric Power Co. chief executive E. Linn Draper said yesterday his company plans to split into two companies, one to focus on competitive wholesale power and the other to operate the company's regulated businesses in the U.S. and abroad.

"Our focus for growth moving forward, plain and simple, will be the wholesale business; generation and related energy assets, wholesale marketing and trading," said Draper who was addressing a San Francisco conference sponsored by the Edison Electric Institute.

He also said that AEP has decided not to pursue combination of its 100 percent owned British regional electric company Seeboard Plc with Yorkshire Electricity Plc, another REC it owns in equal shares with Xcel Energy Inc. AEP would have bought out Xcel under the plan.

Draper said that AEP would apply later this week to the Securities and Exchange Commission for authority to form the two companies. The two firms would be under am umbrella holding company, he said.

Draper would not say whether public offerings were contemplated for selling stock in the two new companies. "We have a number of options to consider, but we expect it will take at least a year" to get necessary regulatory approvals and complete all the paperwork to set up the companies he said.

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