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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

NRG to Buy 4 First Energy Coal Burners

LCG, Nov. 30, 2001--NRG Energy Inc. said yesterday it had agreed to buy four coal-burning power plants with a combined capacity of 2,535 megawatts from First Energy Inc. for $1.5 billion.

As part of the deal, First Energy will purchase power from the plants through 2005, which means the utility won't be forced into the wholesale power market to meet its native load. In California, utilities were prevented from entering into long-term supply contracts with purchasers of their plants and were required by law to purchase power through a state-operated spot market.

NRG will pay First Energy $1.36 billion cash and assume $145 million in debt. The company said the transaction should close in the second quarter of next year and add immediately to earnings.

First Energy President Anthony Alexander said the plants sold were all along Lake Erie, near Cleveland and Toledo, Ohio. He said the company would now concentrate on its power plants in the Ohio River Valley.

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