Verizon Signs PPA for 410MW of Renewable Energy Capacity
As part of its commitment to procuring renewable energy, Verizon has signed four new long-term power purchase agreements (PPAs) for up to 410MW of renewable energy capacity.
PJM
Talen Energy Buys 2,500 MW of Mach Gen for $1.175B
Allentown, Pennsylvania-based Talen Energy – a major power generator and energy retailer already operating in the PJM (Mid-Atlantic), ISO-NE (New England), and ERCOT (Texas) markets – announced on July 20 an agreement to acquire the total 2,500 MW combined-cycle, natural gas (NG)-fired generating portfolio of Mach Gen, a private company ... Read more »
Spring Natural Gas Consumption Soars in Eastern US
The Energy Information Administration (EIA) announced that there has been a major increase in eastern natural gas consumption this spring. According to EIA: Natural gas consumption in the eastern half of the country, particularly in the electric power sector (power burn), has been much higher this spring than in previous ... Read more »
FERC Approves Plan to Reduce Winter Price Volatility
During the Polar Vortex that took place in early 2014, electricity prices spiked across the Northeast and Midwest as a result of insufficient natural gas supplies to meet an increasingly gas-dependent power generation fleet. PJM, the regional transmission organization that operates the market spanning much of the affected area, describes ... Read more »
Non-Performing Power Plants Cost Customers $600M
Customers in the region covered by the PJM transmission operator, which spans much of the Mid-Atlantic and Midwest, lost an estimated $600 million in January 2014, reports Energy Choice Matters. This happened because power plants that were paid to make their capacity available to produce power at all times were ... Read more »
Demand Response Signup in PJM (Mid-Atlantic/Midwest)
Demand response signup is open until the middle of May in the PJM Interconnection region, an area that covers the Mid-Atlantic and part of the Midwest. According to the Ohio Manufacturing Association, Ohio customers located in the FirstEnergy service territory can receive incentives of $1,000 per 100 kW, while those ... Read more »
Energy Procurement Training Opportunities
There are many training opportunities available to professionals interested in developing their energy buying expertise. Many are free, either online or over the phone. In-person seminars and advisory services are fee-based. Course content can include: Competitive energy market fundamentals Provisions of electricity and gas contracts Procurement and negotiation tactics Specific topics ... Read more »
Demand Response in Mid-Atlantic, Midwest
Demand Response (DR) provides electricity customers an opportunity to receive payments for curtailing their energy use during periods of peak demand. The PJM regional transmission organization (RTO), which coordinates wholesale energy markets for 13 states in the Mid-Atlantic and Midwest, relies heavily on DR to help meet capacity needs. On ... Read more »
Wholesale Electricity Markets Explained
Why does wholesale pricing matter to retail buyers? If you are a retail energy buyer, why should you care about wholesale markets? Retail electricity pricing depends heavily on what takes place in wholesale markets. Understanding how wholesale pricing and markets work will give you a much clearer understanding of what ... Read more »
FERC Ruling: PJM Can Retain 2,000 MW of Reserve Capacity
On December 24, 2014, PJM made two filings with FERC to address its resource adequacy issues for 2015/2016 (dockets ER15-738-000 and ER15-739-000). On February 20, FERC ruled on both filings. It accepted PJM’s request to retain 2,000 MW of generation for delivery in 2015/2016. However, it rejected the tariff proposal ... Read more »
How Severe was the Polar Vortex on Electricity Prices?
The polar vortex caused electricity prices to spike in January, but the real sticker shock for customers may only be just beginning. Customers could be charged an additional 1 to 3 percent to make up for additional costs incurred by their suppliers. The Energy Research Council (ERC) just released a ... Read more »
Distributed Energy Resources’ Critical Impacts on Energy Prices
The impacts of distributed energy resources on price formation and market fundamentals will soon become a critical issue, according to a white paper by consulting firm ICF International. According to Distributed Generation’s Future Impact on the US Capacity Markets, the variability of the resource and its location on the grid ... Read more »