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NRC Issues Subsequent License Renewals for First Time to Nuclear Reactors in Florida

LCG, December 11, 2019--The Nuclear Regulatory Commission (NRC) staff recently approved Florida Power & Light's (FPL's) application for an additional 20 years of operation for Turkey Point Nuclear Generating Units 3 and 4. This is the first time the NRC has issued renewed licenses authorizing reactor operation from 60 to 80 years. The subsequent (or second) license renewals (SLRs) for Turkey Point Unit 3 and Unit 4 now expire on July 19, 2052 and April 10, 2053, respectively.

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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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Press Release

Congestion on the Horizon for the SPP Integrated Marketplace

LCG, December 19, 2013 – LCG Consulting (LCG) of Los Altos, California has performed an electricity market assessment and forecast of SPP. Congestion is imminent.

SPP Integrated Market: Co-optimized Products
  • Day Ahead Energy
  • Real Time Energy
  • Virtual Energy
  • Day Ahead Regulation Up
  • Day Ahead Regulation Down
  • Day Ahead Spinning Reserve
  • Day Ahead Supplemental Reserve
  • Real Time Regulation Up
  • Real Time Regulation Down
  • Real Time Spinning Reserve
  • Real Time Supplemental Reserve

SPP Integrated Marketplace

March 2014 marks the start of the completely redefined market structure in the Southwest Power Pool (SPP), termed the “Integrated Marketplace”. This is a significant transition and includes an entirely new approach to coordinating power production, consumption, reliability and settlement. Where previously 16 Balancing Authorities committed their own generation and market prices were relevant only for the amount of power utilized for balancing, the Integrated Marketplace will include a centralized commitment and market prices for the forward (Day Ahead) and Real Time markets. In addition, a number of co-optimized products will be offered.

Market Participants will be able to utilize co-optimized markets along with new market instruments to operate more strategically in the Marketplace such as:
  • Bilateral Settlement Schedules
  • Transmission Congestion Rights
  • Virtual Transactions

To understand the new SPP Market and how it operates, it is helpful to investigate the fundamental elements which drive it. By looking at the fundamentals along with the protocols that will govern market operations, we can gain tremendous insight into what to expect.


SPP 2014 Generation Mix

Using UPLAN, an integrated fundamental model which has been designed to simultaneously replicate the physical and financial operations of the power system, LCG has run comprehensive, chronological simulations of SPP to determine how the system will operate. Some observations from these simulations follow.


Locational Marginal Price Forecast

  • High prices will be found around the Kansas-Oklahoma border and Texas-Panhandle.
  • Low prices are forecast for the southwestern border (SUNC, NPPD).

SPP Peak Prices 2014

SPP is aggressively adding transmission, including a number of recently completed 345kV projects. The 2013 SPP Transmission Expansion Plan (STEP) includes $6.7Billion in projects and will be included as appropriate with realistic in-service dates within LCG’s simulations. 
Even so, price spreads will be seen throughout the footprint.

For more information on the SPP Integrated Marketplace, the forecasting tools used to predict the congestion and prices that can be expected or any other queries, please contact:


Julie Chien
Julie.chien@energyonline.com
1(650)962-9670 ext. 110

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The Locational Marginal Price Model (LMP) Network Power Model
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Day Ahead and Real Time Market Simulation
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Day-ahead and real-time portfolio revenue optimization
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Database of Plants, Loads, Assets, Transmission...
MarketWatch
Annual summary of prices, congestion and important events in ERCOT
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