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AES Receives Approval from California Energy Commissioners to Construct Gas-Fired Power Generation in Southern California

LCG, April 13, 2017--California Energy Commissioners yesterday approved plans to construct and operate a power generation facility, the Huntington Beach Energy Project (HBEP), located in the City of Huntington Beach. The 844-MW, natural-gas fired project will be developed by AES Southland Development, LLC (AES).

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Southern Power's 120-MW Solar Project Commences Operation in Texas

LCG, April 6, 2017--Southern Company subsidiary Southern Power yesterday announced the commercial operation of the 120-MW East Pecos Solar Facility in Pecos County, Texas. Austin Energy will purchase the energy and associated renewable energy credits (RECs) under a 15-year power purchase agreement (PPA), which it plans to apply to meet Austin City Council goals for renewable energy and carbon reduction.

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Industry News

FirstEnergy Pursues State Legislation to Support Nuclear Plants in Ohio

LCG, February 24, 2017--FirstEnergy Corp. is pursuing legislation in Ohio to provide financial support to its two nuclear power plants, Davis-Besse and Perry, through a zero emission credits (ZECs) program. The financial support is sought to avoid premature retirement of the carbon-free electric generating facilities that have a combined capacity of 2,176 MW.

On Wednesday, FirstEnergy's president and chief executive officer stated, "We continue to assess and evaluate a number of strategic alternatives for our companies - for our competitive business, including asset sales, legislative or regulatory initiatives for generation that recognizes environmental or energy security benefits, alternatives for our retail business and financial restructuring."

Last year, state legislation with ZEC programs was passed in Illinois and New York to provide financial support and avoid early retirement of nuclear plants located in those states. The nuclear power plants are challenged to compete in a market with a growing number of combined-cycle plants fueled by low-cost natural gas. Furthermore, aggressive state renewable portfolio standards drive significant new installations of wind and solar capacity that reduce the net electricity load and dampen wholesale power prices. The New York Clean Energy Plan goal is 50 percent renewable energy by 2030, and the Illinois Renewables Portfolio Standard goal is 25 percent for 2026. In addition to providing clean energy with no carbon dioxide or other air emissions, the number of employees at the nuclear plants and the associated plant property taxes are a significant benefit to the counties in which the plants are located.
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