By JULIE CRESWELL and ROBERT GEBELOFF
PORT JEFFERSON, N.Y. — By 10 a.m. the heat was closing in on the North Shore of Long Island. But 300 miles down the seaboard, at an obscure investment company near Washington, the forecast pointed to something else: profit.
As the temperatures climbed toward the 90s here and air-conditioners turned on, the electric grid struggled to meet the demand. By midafternoon, the wholesale price of electricity had jumped nearly 550 percent.
What no one here knew that day, May 30, 2013, was that the investment company, DC Energy, was reaping rewards from the swelter. Within 48 hours the firm, based in Vienna, Va., had made more than $1.5 million by cashing in on so-called congestion contracts, complex financial instruments that…
by Nicholas Sakelaris, Staff Writer- Dallas Business Journal
The Texas electrical grid is controlled in Austin. Not by the Federal Regulatory Commission or by environmentalists in Washington D.C., Donna Nelson, chairwoman of the Texas Public Utility Commission, said at the Greater Dallas Planning Council luncheon Thursday.
And she added that she wants to keep it that way.
Much of the concern over the Environmental Protection Agency’s carbon dioxide regulations centers on how it could affect coal plants— either shutting them down completely or…
by Stuart Burns
China has been admired for its massive electricity infrastructure projects, especially by the metals producing industries that do handsome business selling the the steel, aluminum and copper that is needed for the construction of thousands of miles of transmission lines.
China’s largest grid operator, State Grid Corporation of China (SGCC), said last week that energy authorities might soon approve a plan to build 12 electricity transmission lines linking the coal production and hydropower centers in inland areas such as Inner Mongolia, Shanxi, Shaanxi and Yunnan to the densely populated east, including cities such as Beijing, Tianjin and Hebei. The total investment is said to be more than 210 billion yuan ($34 billion), and the 12 major projects include four ultra-high-voltage alternating current (UHV AC) power transmission lines, five UHV direct current (DC) lines and…
A new $9.57/MW hurdle rate will be implemented Thursday under tariff language to be filed Wednesday by the Midcontinent Independent System Operator that would allow more power to flow between MISO’s North/Central regions and its South Region.
MISO spokeswoman Jennifer June Lay said in an email Wednesday that MISO plans to file a US Federal Energy Regulatory Commission tariff revision Wednesday to modify demand curves associated with MISO’s Sub-Regional Power Balance Constraints, which have limited flows between the North/Central regions and…
by R.A. Dyer
It’s a construction project that could help prevent blackouts, but that hasn’t stopped two influential electric generation companies from trying to stop it before it starts.
NRG and Calpine, both active in the Houston area, have gone to the Public Utility Commission with a request that the agency dump plans to extend transmission lines 130 miles from the Houston metro area to east-central Texas. Operators of the state’s principal power grid say the lines are needed to bring more power into Houston and improve system reliability.
Dubbed the “Houston Import Project,” the transmission network should cost about $590 million when complete. The companies successfully blocked an earlier version of the project several years ago, but failed to stop the board of the…
GDF Suez cited the Public Utility Commission of Texas’ “small fish swim free” rule 17 times in its 25-page motion to dismiss a lawsuit that alleges the French company used its Texas generation fleet to manipulate electricity markets, according to court documents.
In a motion to dismiss the suit filed Monday, GDF Suez North America argued that the plaintiffs, Aspire Commodities and Raiden Commodities, acknowledge GDF Suez’s conduct in managing its 3,957 MW of generation capacity at six Texas sites “was in complete conformity with” Electric Reliability Council of Texas rules and “was expressly authorized by” the Public Utility Commission of Texas.
The “plaintiffs’ suggestion that GDF Suez may have…