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Tampa Electric Plans to $800 Million Investment in New Solar Power Generation

LCG, February 24, 2020--Tampa Electric recently announced plans to expand its use of solar power to meet customer needs in Florida. The company plans to invest approximately $800 million to add 600 MW of solar electric generating capacity by the end of 2023, when the total solar capacity would exceed 1,250 MW. Solar power will then account for about 14 percent of the utility's energy.

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AWEA Issues Fourth Quarter 2019 Market Report

LCG, February 7, 2020--The American Wind Energy Association (AWEA) recently released its new U.S. Wind Industry Fourth Quarter 2019 Market Report. AWEA reports new wind turbine installations have added 5,476 MW of electric generating capacity during the fourth quarter, which results in 2019 installations totaling 9,143 MW. The total installations represent an increase over 2018, but the total for 2019 falls short of total annual installations for 2015 and 2016. In addition to new capacity additions, developers completed 2,500 MW of turbine repowerings for the year.

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Industry News

Proposal to Allow PG&E to Emerge from Bankruptcy Announced

LCG, June 20, 2003--A settlement proposal has been put forth by state regulators and Pacific Gas & Electric negotiators concerning the utility's reorganization and exit from bankruptcy protection.

Although details are still emerging, major aspects of the settlement would allow for paying down $12 billion in debt owed by PG&E with funds already collected from ratepayers, and repay creditors entirely. The deal calls for rate decreases of half-a-cent by 2004 and in 2008, although they would only partially reverse a rate increase of four cents per kilowatt-hour made effective this year.

Commissioners for the Public Utilities Commission were circumspect in describing their view of the settlement, which they will need to vote on, although PUC President Michael Peevey said that "the most important thing about all this is that it's kept PG&E intact as an entity under state regulation." PG&E agreed that it would not try to remove operations from state regulation, at least until 2009. It did not pledge to end legal efforts in opposition to the state concerning power contracts and payments to the Department of Water Resources for power purchases.

Although Gov. Gray Davis and the former PUC President Loretta Lynch found that rates did not go down under the settlement as much as they wished to see, U.S. Bankruptcy Judge Randall Newsome, who presided over the talks, said the settlement, although not extremely favorable to any group, "is a fair deal for both sides and of great benefit for all Californians."
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