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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

Wyoming Commission Approves Settlement Agreement for PacifiCorp Wind Expansion

LCG, April 18, 2018--The The Wyoming Public Service Commission last Thursday approved a settlement agreement between PacifiCorp, the Wyoming Industrial Energy Consumers, the Wyoming Office of Consumer Advocate and the Interwest Energy Alliance on the new wind and transmission portions of PacifiCorp's Energy Vision 2020 proposal. The commission also approved the Certificates of Public Convenience and Necessity (CPCNs) that are needed for construction of the Wyoming-based wind and transmission projects.
Pending approval from other state commissions, acquisition of rights of way, and receipt of permits, construction on the wind and transmission projects is expected to start in 2019.

The approved settlement includes three new Wyoming wind projects that will provide a total 1,150 MW of new electric generating capacity, which represents a nearly 60 percent expansion of PacifiCorp's current owned and contracted wind fleet. Also included in the agreement is a 140 mile high-voltage transmission line in Wyoming that will increase capacity to deliver wind power to PacifiCorp's transmission system. However, as part of the settlement agreement, a previously announced 161 MW wind project in Uinta County, Wyoming will no longer be included in the initiative. PacifiCorp also agreed to additional customer protections in the event of cost overruns as part of the agreement.

In addition to the new wind projects and transmission line, the company's Energy Vision 2020 initiative would upgrade, or "repower," the company's existing wind fleet in Wyoming, Washington and Oregon with longer blades and newer technology to boost output and extend the life of the projects. Approval of the repowering plan is being considered separately by the Wyoming commission and still pending. Components of the plan also are still awaiting state regulatory approval in Utah, Oregon and Idaho.

The Energy Vision 2020 projects were identified in the company's 2017 Integrated Resource Plan as the most cost-effective option to meet customers' energy needs over the next 20 years. The Energy Vision 2020 initiative was designed to: (i) upgrade or "repower" the company's existing wind fleet with longer blades and newer technology, (ii) add approximately 1,100 MW of new wind capacity, and (iii) build the new 140-mile Gateway West transmission. Most of the new investments will be in Wyoming.

Rocky Mountain Power first announced the wind and transmission investments in April 2017 as part of its broader long-term energy plan. The company submitted filings for the plan last summer in Wyoming, Utah and Idaho to state regulators. By acting to complete the projects by 2020, the company expects to use federal production tax credits to provide a net cost savings to customers over the life of the projects.
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