US RGGI auction likely to clear at price floor: analyst
Washington (Platts)
A quarterly auction of Regional Greenhouse Gas Initiative carbon dioxide allowances scheduled for Wednesday will likely sell at the reserve price of $1.89/st, an analyst with Environment Northeast said Monday.
Wednesday marks the 14th time that the 10 US states comprising RGGI will auction CO2 allowances. Under the regional cap-and-trade program, owners of power plants located in states stretching from Maine to…
Consumers Energy cancels planned coal-fired plant in Michigan
Washington (Platts)
Consumers Energy has canceled plans to build an 830-MW coal-fired plant in Bay City, Michigan, citing reduced demand for electricity in its service territory, surplus generating capacity in the region and low natural gas prices, the Jackson, Michigan-based utility said Friday.
Consumers, which announced a delay in the project in March, said it had decided to kill the project for the same reasons that prompted it to defer development. “Those primarily are related to reduced customer…