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NextEra Energy Resources and Basin Electric Power Cooperative Announce MOU to Develop 1,450-MW Natural Gas-fired Power Plant in North Dakota

LCG, December 8, 2025--Basin Electric Power Cooperative (Basin Electric) and NextEra Energy Resources, LLC (NextEra) today announced that they have signed a memorandum of understanding (MOU) to explore the joint development of the River Run Energy Center, a new combined-cycle natural gas-fueled generation facility in Basin Electric's North Dakota service territory. The proposed facility will have a planned capacity of approximately 1,450 MW.

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LCG Releases January–March 2026 PJM Congestion Outlook Featuring Fundamentals-Based 3-Month Forecast

LCG, December 2, 2025 — LCG today announced the release of its PJM Congestion Outlook for January–March 2026, delivering a fundamentals-based, three-month forecast designed to help traders and risk managers better navigate congestion risks in PJM’s FTR markets.

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Industry News

Virginia's Transitional Rates Draw Notice by Suppliers

LCG, Jan. 15, 2002--The announcement of Virginia retail rates by the State Corporation Commission gives potential power suppliers a benchmark against which to consider supply offers.

The key figure is the "price to compare," to which a transition charge is added. The "price to compare" is the price a supplier will have to beat in order to draw a customer looking for a less expensive alternative to Virginia Power; those who do not switch do not pay the transition charge. Until price caps are lifted in 2007, any customer switching to an alternate supplier for electricity will pay a transition charge. That charge was established to compensate utiltiies for investments that were put in place before deregulation.

Some companies with the potential to become competitive suppliers have testified before the General Assembly subcommittee dealing with electric deregulation that the charge, which is 2.13 cents per kilowatt-hour, will hinder competition from taking root as long as it is kept in place. Such companies as Old Mill Power Co. of Charlottesville and AES New Energy Inc. may buy wholesale power and then sell it to retail customers, meaning they do not require their own generation resources.

Pepco Energy Services has been the first and only company to offer customers an alternative during 2002, when deregulation began in Virginia. Its rates, which are for "green power," exceed those of Virginia Power by 2 cents per kilowatt-hour when the transition charge is added. Dominion Retail, which is part of the same corporate entity as Virginia Power, was a supplier in an early pilot program, and will continue to be a supplier.

Any supplier that wants to be competitive with Virginia Power will need to offer a rate of 3.671 cents per kilowatt-hour or less.
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