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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

SoCal Ed Rescue Clears California Assembly Panel

LCG, Aug. 30, 2001--A $2.9 billion rescue plan to save Southern California Edison Co. from bankruptcy cleared one of two hurdles in the California Assembly yesterday following amendments aimed at making the deal more palatable to the utility.

The measure, as proposed to Assembly Democrats by Gov. Gray Davis, was originally a pretty close carbon copy of legislation passed in July by the state Senate, which SoCal Ed said it would not be able to accept.

To sweeten the deal, the Assembly Committee on Energy Costs and Availability doubled the amount the utility could receive for its transmission assets from $1.2 billion to $2.4 billion, still short of the $2.76 billion agreed to between the governor and the company in April.

The panel did not change the provision of the state Senate bill that converts the transmission feature from an outright purchase to a five-year option to purchase. SoCal Ed had complained that the option did little more than place a cloud on a valuable asset.

Also missing from the Assembly version was a requirement that SoCal Ed provide the state with title or easements to more than 21,000 acres of sensitive Sierra watershed lands, much of it in Fresno County. That portion of the legislation had sparked opposition from county residents who feared state control would restrict future uses of the properties.

The bill is not yet ready to go to the Assembly floor for a vote. It now moves to the Assembly Appropriations Committee for further massaging.

How much of that massaging it can stand is another question. State Senate President Pro Tem John Burton, a San Francisco Democrat, had warned the Assembly against making significant changes, and the Assembly thinks its changes were significant.

"I don't know how much more artful we could have been given the time constraints," said the Energy Committee chairman, Los Angeles Democrat Rod Wright.

The bill gets its $2.9 billion price tag from the size of a bond issue SoCal Ed would be allowed to market, not from any state money involved. The utility would sell revenue bonds, a form of tax-exempt obligation, backed by its 180,000 largest customers through higher rates, while its million of residential customers -- who are also voters -- would get off without a rate hike.

SoCal Ed would also be locked into selling power to the state at low prices for 10 years, another long-term "solution" for California's short-term energy crisis.

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