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NextEra Energy Completes Purchase from Southern Company of Ownership Interests in Two Florida Power Plants

LCG, December 5, 2018--NextEra Energy announced yesterday that it completed the acquisition of Southern Company's indirect ownership interests in the Stanton and Oleander natural gas power plants in Florida. The acquisition was previously announced in May of this year.

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Emera to Sell Three Combined-Cycle Power Plants in New England

LCG, November 29, 2018 --Emera Inc., headquartered in Halifax, Nova Scotia, announced this week that it has agreed to sell three natural gas-fired electric generating facilities that it owns in New England to the investment firm Carlyle Group for $590 million. The combined electric generating capacity of the three facilities is approximately 1,100 MW. The acquisition is expected to close in first quarter 2019.

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Industry News

Widespread East Coast Power Failure Affects Flights, Subways

LCG, August 14, 2003This afternoon blackouts hit residents of New York, northern New Jersey, Michigan, parts of Long Island and Connecticut, and even Ottawa and Ontario.

According to the New York Times, upstate New York authorities told New York City officials the blackouts had to do with overload on the Niagara Mohawk Power Grid.

In addition fire at a New York City power station at 4:00 Eastern time may have contributed to the blackouts. Several authorities have pointed to Canada as the source of the blackout. Most authorities have asserted that the cause is still unknown.

Reuters has also reported that a nuclear plant in New Jersey is not operating, which may have contributed to an overloaded system. Indian Points two nuclear reactors, as well as Ohios Perry and Fermi nuclear generators have been shut down because of loss of off-site power.

Several airports are experiencing outages, including all three of New York Citys. Ground stops have been ordered for Cleveland, Kennedy, LaGuardia and Newark, N.J. airports, preventing planes from leaving those airports until further notice.

Subways in several cities are down, and combined with traffic signal failures, wreaked havoc in rush hour streets.

No evidence of terrorism has as yet been linked to the power failure, according to the Federal Energy Regulatory Commission and the FBI.

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