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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

Who Gets Hit with Enron Fallout

LCG, Nov. 30, 2001--For the past few days, energy companies and financial institutions have been cranking out press releases detailing their "exposure" to the stunning collapse of Enron Corp. Here is an incomplete list of who gets hurt and how much:

  • Aquila Inc. - less than $50 million.
  • Allegheny Energy Inc. - less than $5 million.
  • American Electric Power Co. - under $50 million.
  • BP Plc - exposure "a couple of tens of million dollars," according to industrial observers.
  • Barclays Bank - 400 million ($571 million U.S.) in the form of syndicated loans and derivatives.
  • Bear Stearns Cos. Inc. - $69 million.
  • Canadian Imperial Bank of Commerce - $215 million, more than half of it unsecured.
  • Centrica Plc - 30 million ($42.8 million U.S.).
  • Chubb Corp. - $220 million in maximum pre-tax exposure to surety bonds relating to Enron Corp.
  • Citigroup Inc. - between $700 million to $800 million, about half unsecured.
  • Credit Lyonnais - $250 million, about half unsecured.
  • Commerzbank AG - "low double-digit million dollar amount".
  • Deutsche Bank - maximum loss of tens of millions of dollars.
  • Dominion Resources Inc. - past credit exposure of $11 million.
  • Duke Energy Corp. - $100 million in non-secured exposure.
  • Dynegy Inc. - $75 million.
  • El Paso Corp. - net trading exposure about $50 million.
  • Energen Corp. - about $14 million.
  • Exelon Corp.- net exposure less than $10 million.
  • ING (The Netherlands) - about $195 million.
  • J.P. Morgan Chase & Co. - $900 million, including $400 million in secured loans.
  • KeySpan Corp. - less than $4 million.
  • Mirant - up to $60 million.
  • NRG Energy Inc. - less than $10 million.
  • Northern Border Partners LP - $9 million over next year.
  • PPL Inc. - less than $10 million.
  • Peoples Energy Corp. - approximately $8 million.
  • RWE AG - 10-11 million euros ($9.77 million U.S.).
  • Reliant Resources Inc. - approximately $80 million.
  • Sempra Energy - less than $15 million.
  • Seneca Resources Corp. - about $10.4 million.
  • TotalFinaElf - $25 million.
  • Williams Cos. - net exposure less than $100 million.
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