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OG&E and Google Announce Contract for Three Data Centers in Oklahoma

LCG, April 30, 2026--OG&E, the operating subsidiary of OGE Energy Corp., announced today that it will power three new data centers that Google announced in Muskogee and Stillwater, Oklahoma last year. As part of the agreement, Google will also make power generation capacity available from two solar facilities in Stephens and Muskogee Counties that are currently under construction. The data centers and associated Electric Service Agreements are expected to provide economic growth for local communities and the state, contribute to grid stability, and benefit OG&E's current customers.

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Graphic Packaging and NextEra Energy Resources Sign 250-MW Virtual Power Purchase Agreement

LCG, April 29, 2026--Graphic Packaging Holding Company today announced a virtual power purchase agreement (VPPA) with NextEra Energy Resources, LLC. With the VPPA agreement, NextEra Energy Resources plans to build the Selenite Springs Energy Center, a 250-MW solar energy facility in West Texas, and Graphic Packaging will be the sole buyer of the facility's renewable energy attribute certificates. Graphic Packaging, a global provider of sustainable consumer packaging, expects the agreement to cover approximately 43 percent of its 2025 electricity usage in the U.S. and Canada. The agreement will advance Graphic Packaging's commitment to source renewable electricity and reduce its greenhouse gas (GHG) emissions.

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Industry News

SEC, Banks Arrive at Enron-Related Settlement

LCG, July 28, 2003--An investigation by the Securities and Exchange Commission into financial deals arranged by J.P. Morgan Chase and Citigroup for bankrupt Enron Corp. has resulted in the banks paying $255 million in settlements, without admitting or denying wrongdoing.

J.P. Morgan and Citigroup arranged structured finance deals for Enron that members of Congress as well as the S.E.C. have said were intended to mask the extent of loans to Enron, and represent financing activities as operating cash flows. The securities regulator concluded that J.P. Morgan Chase and Citigroup were aware that the deals did not provide an accurate picture of the health of the energy company. In addition to transactions involving Enron, Citigroup also conducted deals for Dynegy. The settlement reached by Citigroup ends investigation into those financing deals as well.

J.P. Morgan Chase will pay $135 million, while Citigroup will pay $120 million to compensate Enron and Dynegy investors, with total amounts to the two groups of $236 million and $19 million respectively. New York State and New York City will each also receive $12.5 million from both energy firms, which will cover the costs of the investigations.

In one deal J.P. Morgan Chase organized for Enron, a $375 million load to be repaid over five years was accompanied by a $1 billion loan secured by a $1 billion deposit by Enron with J.P. Morgan Chase, which was extended and repaid in a single day. By representing interest payments on the smaller loan as being interest on the larger loan, Enron realized $125 million in Canadian tax benefits. Chase received a $5 million fee for its services. Experts who commented on the deal before it was conducted said that it was likely that Revenue Canada would become aware of and dispute the transaction under anti-avoidance statutes.

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