New York Poised to Close Last Coal-fire Power Plant

LCG, December 4, 2019--The last operating coal-fired power plant in New York is moving toward closure shortly. Last month, Somerset Operating Company, a subsidiary of Riesling Power LLC, submitted a request to the New York State Public Service Commission (NYSPSC) to waive the state's required, 180-day notice to close the Somerset Station, allowing the facility to be retired on February 15, 2020. Closure is contingent on approvals by both NYSPSC and the New York Independent System Operator (NYISO), which will evaluate if it will cause an adverse effect on grid reliability.

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Construction Commences on Enel’s Aurora Wind Farm in North Dakota

Enel Green Power North America, Inc. (“EGPNA”), the US renewable energy company of the Enel Group, has started construction of the 299-MW Aurora Wind Farm in North Dakota.

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Industry News

Judge Sets Date for Vote on Bankrupt PG&E

LCG, March 27, 2002-June 17 is the tentative date for ballots to be sent to PG&E creditors, as chosen by U.S Bankruptcy Judge Dennis Montali. Creditors will be given an opportunity to vote on how PG&E's bankruptcy will be dealt with.

Two plans have been proposed regarding how to facilitate PG&E's emergence from bankruptcy. The company has an estimated $13.2 billion debt and filed for bankruptcy protection in April of last year.

PG&E suggested redistributing many of its assets into newly created subsidiaries. It plans to have 3 of four new companies answer to the more lenient Federal Energy Regulatory Commission (FERC) instead of the California Public Utilities Commission (PUC).

The PUC formulated an alternate plan based on refinancing, similar to what was done to bail out Southern California Edison. The PUC also wants to keep PG&E's hydro and nuclear power under state oversight.

While no dates have been solidified, the vote should allow PG&E to come out of bankruptcy by its 2003 goal.

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