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TVA Extends Deadline for Bellefonte Nuclear Plant Deal

November 12, 2018

A Tennessee businessman now has until the end of November to finalize a two-year-old purchase agreement for the unfinished Bellefonte nuclear power plant in Alabama.

The Tennessee Valley Authority (TVA), which began building the plant in 1974 but ended construction in 1988 amid a downturn in the nuclear power industry, on November 9 said it has extended the deadline in its agreement with Franklin Haney’s Nuclear Development LLC (NDLLC) from November 14 to November 30. Haney now has another 16 days to complete the agreement to buy the plant’s assets.

Haney last week said legal and regulatory issues have delayed the sale’s closure. The project also has been dogged by allegations of payments to secure federal government support. And one of the project’s potential electricity customers recently signaled it may back away from a deal to purchase power from the plant.

Haney, a real estate developer who grew his business by buying and building properties that he then leases to local, state, and federal government interests, was the highest bidder for Bellefonte’s assets in an auction in November 2016.…

Midterms a Mixed Bag for State Energy Ballot Measures

November 10, 2018

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The midterm elections yielded mixed results for power-related matters across the U.S.

Voters in Arizona shot down a measure that would have expanded the state’s renewable portfolio standard (RPS) to 50% by 2030, but voters in Nevada overwhelmingly backed a similar measure, adding it to a growing list of states that have sought 50% RPS levels.

In Colorado, voters defeated a measure to limit drilling for oil and natural gas on state-owned land. In Washington State, voters thwarted a consequential statewide initiativeto impose a fee on emissions of carbon dioxide. And in California, voters defeated a measure that would have allowed state lawmakers to pass a spending plan for revenue from the state’s cap-and-trade program for greenhouse gases (GHGs) from 2024 onward.

Arizona Overwhelmingly Rejects Prop 127

Proposition 127, the “Renewable Energy Standards Initiative” sought approval for a constitutional amendment that required Arizona electric utilities to acquire a certain percentage of power from renewables each year, with that percentage increasing annually—from 12% in 2020 to 50% in 2030.…

Xcel Buys Minnesota Gas-Fired Plant

November 8, 2018

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Xcel Energy said it will buy a natural gas-fired power plant in Minnesota from Southern Power, a subsidiary of Southern Co. The $ 650 million deal for the Mankato Energy Center puts Xcel in charge of a facility from which it has purchased power since the plant’s first unit came online in 2006.

A second unit at the plant is expected to come online in 2019, bringing the facility’s total power generation capacity to 760 MW. That would make it the largest gas-fired plant in Xcel’s fleet. The plant was built by Calpine Corp. and sold to Southern Power in 2016 in a $ 395.5 million deal.

“Securing the Mankato gas plant is a great value for our customers as it will provide significant cost savings and operating flexibility for the long term,” said Chris Clark, Xcel’s regional president, in a statement November 6. “As we continue to transition to cleaner energy sources and reduce reliance on coal, this plant will help us continue to deliver reliable electricity while keeping bills low.”…

Report: Investments in Coal Risky, Billions in Assets Could Be Stranded

October 31, 2018

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A study from a London-based group focused on financial aspects of the energy industry said up to $ 60 billion of coal-fired power generation assets may be stranded in Southeast Asia in the next 10 years. The study released this week by Carbon Tracker said renewable energy resources and more-stringent environmental policies make investments in new coal generation “a mistake.”

The study was released on the heels of a report last week from the Institute for Energy Economics and Financial Analysis (IEEFA), a Cleveland, Ohio-based clean energy group, that said the U.S. will retire 15.4 GW of coal capacity in 2018, which it said represents 44 coal-fired generation units at 22 power plants. The group said another 21.4 GW of coal generation will close by 2024.

The IEEFA report said the U.S. is still operating 246 GW of coal generation capacity, with announced retirements from 2018 through 2024 (Figure 1) representing about 15% of that total. It said coal plants in at least 14 states are scheduled to close over the next few years, including units in Ohio, Pennsylvania, Florida, Indiana, Minnesota, Missouri, Kansas, Kentucky, Maryland, Tennessee, Texas, Virginia, West Virginia, and Wisconsin, according to IEEFA.…

What Is Coal’s Future? [PODCAST]

October 27, 2018

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The Jackson Hole Center for Global Affairs—a bipartisan think tank—will host the “Jackson Hole Global Forum: Climate Solutions, Coal Communities, and Economic Diversification,” in Jackson Hole, Wyoming, November 8–9, 2018. Among the sessions on day one is a panel titled “What Is Coal’s Future?” Charles K. Ebinger, nonresident senior fellow with the Atlantic Council, will be one of the panelists.

Ebinger touched on some of the issues facing the coal industry on an episode of The POWER Podcast. He said the question—“What is coal’s future?”—really needed to be answered in two parts: one addressing challenges in the U.S. and the other taking a broader look at coal usage around the world.

Although coal faces stiff headwinds in the U.S., demand in Asia is very robust, growing 5% or more per year in some places. The fact is, hundreds of millions of people still do not have electricity in various parts of the world, and hundreds of millions of others don’t have truly reliable sources of power.…

West Virginia Coal Plant Will Remain Open Until 2022

October 23, 2018

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FirstEnergy on October 18 said its coal-fired Pleasants Power Station in West Virginia will stay open until June 2022, after earlier announcing the plant would close in January of next year.

FirstEnergy spokeswoman Jennifer Young said, “Keeping Pleasants in operation … allows the plant to fulfill current capacity obligations and provides additional time for evaluation of the long-term plan for the station prior to deactivation.”

The plant is operated by Allegheny Energy Supply (AES), a FirstEnergy subsidiary. Pushing back the closing date allows Pleasants Power to remain in operation until the transfer of the facility from AES to FirstEnergy Solutions (FES) is complete. The transfer is part of FirstEnergy’s bankruptcy settlement agreement with FES and the FirstEnergy Nuclear Operating Company (FENOC), Young said.

FirstEnergy in February of this year said it would close the 1.3-GW Pleasants Power Station by January 1, 2019. The company has been suffering steep losses in competitive markets. It announced a plan in November 2016 to exit competitive generation and become a fully regulated company.…