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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

Duke Announces Plans to Sell More Power Plants

LCG, September 14, 2005--Duke Energy announced yesterday that its board of directors approved a plan to pursue the sale of substantially all of Duke Energy North America's (DENA) physical and commercial assets outside the Midwest. The portfolio includes approximately 6,200 MW of electric generating facilities located primarily in the West and Northeast, plus effectively all of DENA's trading book. The assets will be sold or otherwise divested within the next twelve months.

In announcing the plan, Duke Energy also stated that it will take a non-cash, pre-tax charge of approximately $1.3 billion, or approximately $0.88 per basic share,which will be reported in third quarter 2005 earnings.

Duke Energy stated that it will remain active in the merchant power sector. Following the proposed merger with Cinergy that is anticipated to be completed next year, Duke Energy expects to combine its existing, 3,600 MW of generating assets in the Midwest with Cinergy's commercial operations, providing a sustainable merchant business model in the region.

Duke Energy sold over 6,500 MW of its electric generating assets in 2004. In August of last year, Duke Energy completed the sale of its Southeast merchant plants, including eight, natural gas-fired plants with a combined capacity of 5,325 MW, to KGen Partners for $475 million. Last October, Duke completed the sale of its partially completed, 1,200-MW, combined cycle Moapa Power Plant in Nevada for $182 million.

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