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Constellation and Google Announce Strategic Collaboration that Includes 890 MW of New Nuclear Capacity to PJM Grid

LCG, October 6, 2026--Google and Constellation Energy today announced a long-term strategic clean energy collaboration to bring 890 MW of new, reliable, carbon-free nuclear capacity onto the PJM Interconnection grid to meet growing demand and increase grid reliability. The first uprate is expected to be delivered by 2028.

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Department of Energy Announces $4.2 Billion Investment to Boost Nuclear Power in Pennsylvania and Ohio

LCG, October 5, 2026--The U.S. Department of Energy’s (DOE) Office of Energy Dominance Financing (EDF) today announced a conditional loan commitment of up to $4.2 billion to finance nuclear uprates and modernization across Vistra’s nuclear fleet in Pennsylvania and Ohio. The projects are expected to preserve nearly 4 GW of carbon-free, baseload power and add 433 MW of new nuclear capacity that will support the growing electricity demand across the PJM region.

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Industry News

Nevada Power Says High-Priced Power Could Boost Rates

LCG, Mar. 5, 2002--The first day of a series of rate filing hearings by Nevada Power Co., the utility, elicited a note of caution on a possible additional 15 percent rate increase request.

The 15 percent would be in addition to an increase included in the filing being considered, which the utility says is based on the need to recover fuel and wholesale power costs paid last summer. The possible 15 percent rate request disclosed by senior vice president Steve Oldham would be needed, he said, if power purchase contracts that spread costs over time cannot be obtained. The energy costs already incurred total $922 million, and would be spread over three years, beginning April 1. If approved, the increase in the filing plus the impact of non-energy expenses would amount to a 23 percent boost in rates.

At the hearing, which took place Monday, Oldham noted that he was optimistic about the possibility of signing longer-term contracts, before more costly contracts were necessary at a later date. If a request for a one-year increase is made, it would take place with the next energy rate case, on Dec. 1.

Nevada Power last month requested unsuccessfully that the payback period for the $922 million be extended to six years, rather than the three years required by state law. Part of that cost would be made up of a 9.66 interest charge on the unpaid balance, which the company has justified as being necessary to provide sufficient return of capital to shareholders in the utility.

According to Dennis Schiffel, chief financial officer of the company, the rating services Moodys and Standard & Poors are considering a downgrade of the utilitys debt below investment grade. This would trigger an increase in borrowing costs.
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