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Minnesota PUC Approves Operations Extension for Xcel Energy's Prairie Island Nuclear Plant

LCG, August 15, 2025--Xcel Energy announced that the company received state approval yesterday from the Minnesota Public Utilities Commission to extend operations of the Prairie Island nuclear plant through the early 2050s. Prairie Island has two units that have a combined generating capacity of 1,100 MW. The units’ current operating licenses expire in 2033 and 2034.

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PGE Announces Addition of 475 MW of Battery Energy Storage Systems to Improve Grid Reliability and Costs

LCG, August 7, 2025--Portland General Electric (PGE) today announced the completion of three, four-hour lithium-ion utility-scale battery energy storage systems (BESS) in Oregon, adding 475 MW and more than 1.9 GWh of dispatchable capacity to serve the Portland metro area. Each of these BESS facilities can deliver power during peak demand or when other electric generating facilities are limited, which improves system flexibility, reliability and costs.

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Industry News

J.P. Morgan Acknowledges Round-Trip Trading with Enron

LCG, December 4, 2002-A lawyer for J.P. Morgan Chase has disclosed the company's involvement in circular trades with Enron Corp.

J.P. Morgan Chase is currently in court, attempting to recover $1 billion in surety bond coverage from 11 insurance companies who guaranteed contracts between Enron and J.P. Morgan.

The insurance firms assert that they were not aware of the type of deals at the time and now say the trading added up to loans to Enron, not the sale of gas or oil.

J.P. Morgan had, via another unit named Mahonia, bought oil and gas for $1.9 billion from Enron. Mahonia could then sell the oil and gas back to any company, including Enron.

The insurance firms' lead attorney showed deals yesterday involving Mahonia buying and Chase selling the same oil from and to Enron on the same day in the same transaction. These deals would result in only money changing hands, but not any commodities whatsoever.

J.P. Morgan Chase's attorney said at the questioning of Judge Jed Rakoff, that the trades were circular. While J.P. Morgan Chase admits knowing the nature of the trades, the company still contends that the deals were not loans.

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