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Impacts of COVID-19 Virus on Electricity Demand

LCG, March 27, 2020 -- Jeremy Platt, an energy scientist, Palo Alto has made some early analysis of impact of COVID -19 on electricity demand using the grid operators data published by LCG. Data from several areas of the country offer early and near real-time views of impacts of the economic slowdown due to evolving regional and statewide coronavirus mitigation strategies.

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California PUC Targets Doubling Renewable Energy by 2030

LCG, March 27, 2020--The California Public Utilities Commission (CPUC) yesterday unanimously approved a new emissions target for its electric sector that would double California's clean energy capacity through 2030 and effectively block new natural gas-fired electric generating facilities.

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Industry News

Dynegy Completes Buy of Two New York Power Plants

LCG, Jan. 31, 2001Dynegy Inc. said yesterday it had completed the purchase of two New York power plants with a combined capacity of 1,700 megawatts. Central Hudson Gas & Electric Co. was the principal seller.

Dynegy bought the 500 megawatt natural gas-fueled Danskammer plant outright from Central Hudson and the 1,200 megawatt Roseton plant, which can burn either gas or fuel oil, from Central Hudson which owned 35 percent of the facility and its co-owners, Niagara Mohawk Power Corp. which owned 25 percent and Consolidated Edison Co. of New York which had a 40 percent interest.

Central Hudson said the sale price for both plants was $903 million and estimated its share of the sale, after recovery of taxes and undepreciated book costs, is approximately $296 million.

Central Hudson said it had contracted with Dynegy for a portion of the output of the plants, but cautioned that it was no longer the controlling factor in the price of power sold to its retail customers.

"Though we have contracted to purchase a portion of the output from the Roseton and Danskammer plants to stabilize bills for the next few years, we don't have the ability to control electricity supply costs in the long term because we no longer own large generation plants. In the future, the market will determine prices," warned Paul J. Ganci, chief executive of Central Hudson's parent holding company.

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