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Avangrid and Puget Sound Energy Sign PPA, Including Upgrade and Life Extension, for Washington Wind Project

LCG, May 19, 2026--Avangrid, Inc., a member of the Iberdrola Group, today announced the signing of a long-term Power Purchase Agreement (PPA) with Puget Sound Energy (PSE) for the 199.5-MW Big Horn I wind project in Klickitat County, Washington. This agreement represents the fourth PPA executed by the two companies for projects in the Pacific Northwest.

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DOE Acts to Ensure Key Coal-fired Power Plants Are Available in MISO to Supply Peak Summer Demands

LCG, May 18, 2026--The U.S. Secretary of Energy today issued an emergency order to address critical grid reliability issues in the Midwest anticipated this summer. The order is in effect beginning on May 19, 2026, through August 16, 2026. The emergency order directs the Midcontinent Independent System Operator (MISO), in coordination with Consumers Energy, to ensure that the J.H. Campbell coal-fired power plant (Campbell Plant) in West Olive, Michigan shall take all steps necessary to remain available to operate and to minimize costs for the region.

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Industry News

New Jersey Utility Has Its Eye on Cinergy

LCG, March 9, 2001New Jersey-based Public Service Enterprise Group Inc. is in "advanced discussions" to acquire Cinergy Corp. of Ohio, according to this morning's edition of the Wall Street Journal.

The paper says the acquisition would cost PSEG more than $5.6 billion in stock plus $2.9 billion in assumption of long-term debt. That works out to a very small premium for Cinergy shareholders who would have to approve the deal.

In an attempt to confirm the deal, the Wall Street contacted PSEG spokesman Paul Rosengren who said "I don't make comments on deals that may or may not be under discussion."

Cinergy chairman and chief executive James Rogers could be a sticking point in a merger with PSEG. He is known to enjoy being top man and would want to run the combined companies, but would have to wait in the wings for perhaps as long as five years.

A former deputy general counsel for the Federal Energy Regulatory Commission, Rogers has proved adept at coping with changes in the electric market and would like the chance to run a bigger company. As long ago as 1996, musing about "convergence" among utilities, he asked metaphorically "Cinergy-Sprint? Why not?"

In the deal envisioned by the paper, Cinergy would take a back seat, even though it is the larger company in terms of revenues. PSEG would likely have eight of the 14 seats on the board and E. James Ferland, PSEG's chairman, president and CEO would run the show.

Now, if the transaction were structured so that Rogers were chairman and chief executive and Ferland were chairman emeritus, that would be something else.

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