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PSC cracks down after allegations of improper talks with utilities - 0 views

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    The Florida Public Service Commission took several measures this week aimed at addressing allegations that some agency officials improperly conversed with FPL. Some PSC commissioners and staffers have talked to FPL employees in private meetings and via phone calls and text messages -- conversations that leave no paper trail. State law restricts conversations between commissioners and employees of utilities they regulate. There's debate about whether the law applies to commissioners' chief advisors. Amid the accusations, the PSC took several actions and floated a few proposals: -Four PSC employees stepped down or went on leave -PSC Chairman Matthew Carter ordered the agency to disable both text and instant messaging on state-issued smart phones. -Commissioner Lisa Edgar asked for a review of the agency's policies on retaining public records in light of new technologies such as instant messaging. -Commissioner Nathan Skop proposed blocking agency computers from accessing instant messaging sites on Yahoo, AOL and Twitter during hearings; banning all smart phones from the PSC hearing room; and buying software that allows the PSC to log smart phone use.
Energy Net

Entergy handed setback over holding company - Bennington Banner - 0 views

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    Entergy was dealt another setback in its efforts to form a new holding company for six of its nuclear reactors after a pair of New York state administrative law judges told the state's Public Service Commission it shouldn't issue its final decision until Feb. 11. The judges wrote that the PSC needs time to determine whether Enexus' forecasted financial position is "at least as good as Entergy's," considering that Enexus is currently a shell corporation with no financial history that can be examined, as reported in SNL Energy Finance Daily on Dec. 15. That's especially important, wrote the judges, because Enexus would be an "unaffiliated" owner of nuclear generating facilities, and there is "no other company in the world" like it, reported SNL. Entergy wants to spin off Vermont Yankee in Vernon, Indian Point and FitzPatrick in New York, Palisades in Michigan and Plymouth in Massachusetts into an independent company named Enexus. The plants are considered merchant plants because they sell electricity directly to the power market with price controls set by the states they are located in. When the transaction was first proposed, Entergy said that Enexus would have $4.5 billion in debt. That didn't sit well with the PSC, so Entergy came back with the lower figure of $3.5 billion and assured the PSC that Enexus would have liquidity of $350 million and an unrestricted cash balance of $750 million.
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    Entergy was dealt another setback in its efforts to form a new holding company for six of its nuclear reactors after a pair of New York state administrative law judges told the state's Public Service Commission it shouldn't issue its final decision until Feb. 11. The judges wrote that the PSC needs time to determine whether Enexus' forecasted financial position is "at least as good as Entergy's," considering that Enexus is currently a shell corporation with no financial history that can be examined, as reported in SNL Energy Finance Daily on Dec. 15. That's especially important, wrote the judges, because Enexus would be an "unaffiliated" owner of nuclear generating facilities, and there is "no other company in the world" like it, reported SNL. Entergy wants to spin off Vermont Yankee in Vernon, Indian Point and FitzPatrick in New York, Palisades in Michigan and Plymouth in Massachusetts into an independent company named Enexus. The plants are considered merchant plants because they sell electricity directly to the power market with price controls set by the states they are located in. When the transaction was first proposed, Entergy said that Enexus would have $4.5 billion in debt. That didn't sit well with the PSC, so Entergy came back with the lower figure of $3.5 billion and assured the PSC that Enexus would have liquidity of $350 million and an unrestricted cash balance of $750 million.
Energy Net

Constellation appeals decision on PSC investigating EDF nuke deal - 0 views

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    Constellation Energy Group said Tuesday that it has appealed a Baltimore judge's decision to dismiss the company's request for review of a plan by the Public Service Commission to investigate the proposed sale of half the company's nuclear operations. The PSC said in June that it has jurisdiction to review the sale plan to French firm EDF because it would give EDF major control over Baltimore Gas and Electric, Constellation Energy's regulated utility. The PSC is considering whether the proposed $4.5-billion transaction is in the public interest. Baltimore Circuit Court Judge Stuart Berger on July 2 said the court lacked the jurisdiction to hear the appeal of the PSC decision because the commission's decision to review the sale was not a final decision and therefore not subject to review. The company filed the appeal Monday to the Maryland Court of Special Appeals. "We are taking this step to preserve our legal rights in the future," spokesman Robert Gould said.
Energy Net

N.Y.: No ruling on Entergy nuclear spinoff in 2009 | LoHud.com | The Journal News - 0 views

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    New York utility regulators likely will not decide on power provider Entergy Corp.'s plan to spin off its wholesale nuclear power generators into a separate company until 2010. Advertisement New Orleans-based Entergy had hoped for a decision in November on whether it may place six reactors under a separate publicly traded company Enexus Energy Corp. But two administrative law judges for the state Public Service Commission have ruled that a determination still is needed on whether the new company will have the financial capability to run three of the units in New York: two at Indian Point in Buchanan and one at James A. Fitzpatrick in Oswego County. PSC staff has concerns that long-term unsecured bonds issued for the spinoff might result in a low Enexus bond rating, thus limiting the new company's financial capacity. The judges have proposed a schedule under which environmental issues dealing with the spinoff would be heard by the PSC in December, followed by a ruling in January. Entergy spokesman Michael Burns said if the deal is approved in January, the spinoff could occur in April.
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    New York utility regulators likely will not decide on power provider Entergy Corp.'s plan to spin off its wholesale nuclear power generators into a separate company until 2010. Advertisement New Orleans-based Entergy had hoped for a decision in November on whether it may place six reactors under a separate publicly traded company Enexus Energy Corp. But two administrative law judges for the state Public Service Commission have ruled that a determination still is needed on whether the new company will have the financial capability to run three of the units in New York: two at Indian Point in Buchanan and one at James A. Fitzpatrick in Oswego County. PSC staff has concerns that long-term unsecured bonds issued for the spinoff might result in a low Enexus bond rating, thus limiting the new company's financial capacity. The judges have proposed a schedule under which environmental issues dealing with the spinoff would be heard by the PSC in December, followed by a ruling in January. Entergy spokesman Michael Burns said if the deal is approved in January, the spinoff could occur in April.
Energy Net

EDF Authorized to Invest in Nuclear in the U.S. | Reuters - 0 views

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    EDF welcomes the decision of the Board of Directors of its American partner Constellation Energy to approve moving forward based on the conditions set forth in the order issued by the Maryland Public Service Commission with respect to the creation of a nuclear joint venture between EDF and Constellation Energy. The Maryland PSC has attached conditions designed to preserve the independence and financial strength of Constellation Energy`s regulated subsidiary. Approval from the Maryland PSC completes the regulatory review process, and the companies now have received all necessary approvals at the federal and state levels to proceed with the transaction. EDF and Constellation Energy will complete the transaction without modification to the previously agreed terms of the transaction. EDF will commence the process to enable the close of the transaction, for which it has already received the authorization of its own Board of Directors. The consummation of the transaction is the result of a partnership between EDF and Constellation Energy that began over two years ago.
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    EDF welcomes the decision of the Board of Directors of its American partner Constellation Energy to approve moving forward based on the conditions set forth in the order issued by the Maryland Public Service Commission with respect to the creation of a nuclear joint venture between EDF and Constellation Energy. The Maryland PSC has attached conditions designed to preserve the independence and financial strength of Constellation Energy`s regulated subsidiary. Approval from the Maryland PSC completes the regulatory review process, and the companies now have received all necessary approvals at the federal and state levels to proceed with the transaction. EDF and Constellation Energy will complete the transaction without modification to the previously agreed terms of the transaction. EDF will commence the process to enable the close of the transaction, for which it has already received the authorization of its own Board of Directors. The consummation of the transaction is the result of a partnership between EDF and Constellation Energy that began over two years ago.
Energy Net

Who'll curb Georgia Power's clout? | ajc.com - 0 views

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    Georgia Power is a private, for-profit company, but with a very valuable distinction: It holds a government-issued, government-protected monopoly. Within its territory, no other company is allowed to sell electricity. It's a sweet arrangement. By barring competition, it effectively guarantees Georgia Power a double-digit profit year after year, even in times as hard as these. Fortunately, drafters of the state Constitution did provide a check on the company's monopoly by creating the state Public Service Commission. The five-member PSC, elected by the people, has a competent, well-trained if sometimes overmatched staff to help it wade through the complex details of utility regulation. That's important, because the decisions made by the PSC affect more Georgians more directly than most decisions made by the state Legislature.
Energy Net

PSC chairman says he's no FPL puppet - Capitol Comments - Sarasota Herald-Tribune - Sar... - 0 views

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    The sideshow at the Public Service Commission is overtaking the historic consideration of a rate increase for Florida Power & Light. Today, PSC chairman Matthew Carter took the unusual step of offering a press release proclaiming his independence from utility lobbyists. It seems unusual for a commissioner who is considering a rate increase from a utility to specifically note his votes against that utility in the past. Here is Carter's statement, (and see below for FPL comment): Assertions have been made that the Florida Public Service Commission is too "cozy" with regulated utilities, FPL in particular. To the extent that these criticisms are directed toward me, I take great offense because they are false. An examination of the record, not some special interest's characterizations, demonstrates my independence and freedom from external bias. In nearly every high-profile issue that FPL has brought before this Commission, I have voted to deny or severely limit the company's request.
Energy Net

Georgia regulators schedule hearings on new Vogtle reactors - 0 views

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    Georgia regulators will begin hearings November 3 on whether to allow construction of two Westinghouse AP1000s at the Vogtle nuclear power plant site. Under state law, new power generation cannot be added in Georgia without a certificate of public convenience and necessity issued by the PSC. The Georgia Public Service Commission is expected to vote on the proposal March 17. Georgia Power is the majority owner of the two existing Vogtle reactors, which are operated by Southern Nuclear Operating Co. Both companies are subsidiaries of Southern Co. The PSC will hold a public hearing November 3 on the additional units. Testimony, including from Georgia Power -- which would also be majority owner of the new units, if built -- will continue November 5-7. Hearings and testimony from staff and intervenors will be held from January 12?16 and rebuttal testimony will be received from Georgia Power February 9?13. Southern Nuclear filed an application with NRC in March for a combined construction permit-operating license for the new units.
Energy Net

Public Citizen - Chesapeake Safe Energy Coalition Applauds PSC's Decision to Regulate N... - 0 views

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    Coalition Urges Scrutiny of French Company's Corporate Practices and Transparency BALTIMORE - The Chesapeake Safe Energy Coalition applauds the Maryland Public Service Commission's (PSC) decision today to assert its jurisdiction over the nuclear sales transaction between Electricite de France (EdF) and Constellation Energy. The coalition delivered 650 petition signatures to the PSC on Friday urging the commission to examine the effects of the deal on Constellation subsidiary Baltimore Gas and Electric (BG&E) and Maryland ratepayers and consider the corporate track record of EdF before approving the deal. "The commission needs to make sure this sale will not negatively impact consumers in the long term or short term," said Johanna Neumann, state director for Maryland PIRG. "A laissez-faire approach by the last Public Service Commission allowed Constellation Energy to rake Maryland consumers over the coals time and again. We urge this commission to be an effective watchdog for the public by aggressively investigating this transaction."
Energy Net

Consumers needs to return another $36 mil to customers: Michigan - 0 views

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    Michigan regulators on Tuesday ordered Consumers Energy to return an additional $36 million from the sale of its Palisades nuclear plant to customers to help offset utility plans to implement a $179 million electric rate hike. The CMS Energy subsidiary asked the Michigan Public Service Commission last November for a nearly $215 million annual rate hike, citing "substantial investments" it is making to serve its 1.8 million electric customers. The state's new comprehensive energy law, which the Legislature passed last year, includes a "file and use" provision allowing utilities to implement rate cases if the PSC has not acted within 180 days of a filing. That deadline for Consumers falls on Thursday and the utility intends to implement the hike, subject to refund. Consumers can implement the entire rate request if the PSC fails to issue a final order by November 14.
Energy Net

Associated Press: Judge dismisses Constellation appeal in EdF case - 0 views

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    Constellation Energy Group Inc. lost a round in its battle with Maryland regulators over its proposed deal to sell half its nuclear operations to France's EdF when a judge ruled Thursday it could not appeal the decision to review the agreement while the review was under way. The Maryland Public Service Commission is looking into whether the $4.5 billion deal is in the public interest. The PSC doesn't regulate Constellation, but regulates its Baltimore Gas and Electric utility subsidiary. Constellation contends the deal is permitted under a settlement that raised the trigger for state review to 20 percent of Constellation's shares or its board. EdF would take a 9 percent stake, but the PSC decided the rule doesn't apply because EdF would acquire other rights and assets.
Energy Net

Public Citizen - Public Service Commission Decides Higher Electricity Prices, More Radi... - 0 views

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    The Maryland Public Service Commission's (PSC) issuance today of a Certificate of Public Convenience and Necessity to UniStar Nuclear is a costly step in the wrong direction for Maryland's energy future. This permit serves as the state's nod to construct a new uranium-fueled reactor in southern Maryland, a decision that not only could prove to be extraordinarily costly for taxpayers - as testimony provided to the PSC made clear - but tethers Maryland to continued reliance on dirty energy generation rather than moving our state toward becoming a leader in clean energy. The permit in its current form subjects UniStar Nuclear - a joint venture between Constellation Energy and the French-state controlled Electricite de France (EDF), which increasingly controls Constellation itself - only to some minor conditions.
Energy Net

PSC rejects Entergy spin-off of nuke plants, including Indian Point - 0 views

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    "The State Public Service Commission Thursday rejected the request by Entergy Corporation to spin off six nuclear power plants, including the Indian Point facilities, to a new business entity, Enexus Energy Corporation. The PSC said the transaction was not in the public interest. It also had concern over the immediate financial viability of Enexus. Entergy corporate national spokesman Michael Burns said the company is disappointed with the commission's decision and that "the spin-off itself was in the best interest of all stakeholders." The Entergy board will meet next and will be briefed on the situation. "Unfortunately given the meeting is next week, it would be inappropriate for me to discuss any additional steps at this point," he said."
Energy Net

Georgia Power: Judge's ruling won't affect power plant construction  | ajc.com - 0 views

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    "A Fulton County Superior Court judge ruled in favor of an environmental group Friday, but it won't affect Georgia Power's plan to build two nuclear reactors at Plant Vogtle, the company said. The environmental group, the Southern Alliance for Clean Energy, filed the lawsuit challenging the Georgia Public Service Commission's decision to let the utility raise rates to pay for the plants before they start operating. On Friday, Judge Wendy Shoob said the PSC acted illegally by failing to properly document a justification for the reactors. "This is not related to the need for the project," Georgia Power spokesman Jeff Wilson told the AJC. "Construction will continue as scheduled on the new Vogtle units." An attorney for SACE said Friday's ruling was a major victory for their efforts to stop the construction of the nuclear plants, which would be the first built in the U.S. in 30 years. The PSC contends the reactors are safe, but SACE attorney Michael Carvalho said the utilities regulatory commission doesn't have the facts to back it up."
Energy Net

PSC slams plan to pay for nuclear power plants | ajc.com - 0 views

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    Georgia Power recently got some good and bad news, as it continues its push for new nuclear reactors in the state. The good news: Neither the Georgia Public Service Commission's public interest staff nor the state's biggest industrial customers oppose the new reactors outright. The bad news: Both the PSC staff and the industrial customers slammed the company's proposal to begin charging for the new reactors five years before they're complete.
Energy Net

The State | 05/30/2008 | PSC gives Duke OK for nuclear spending - 0 views

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    Duke Energy customers in South Carolina could be on the hook for up to $64.4 million in development costs for two nuclear reactors the Charlotte utility is considering building in Cherokee County. The S.C. Public Service Commission voted unanimously Thursday to allow Duke Energy to spend up to $230 million from 2005 through 2009 studying, designing and preparing the site for the project. The utility would still have to show actual expenses were prudent in order for the PSC to allow the utility to pass along the costs to ratepayers.
Energy Net

2 PSC staffers resign over alleged ethical lapses - 0 views

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    Two top Public Service Commission staffers resigned Tuesday and two others went on administrative leave as alleged ethics lapses again overshadowed a hearing on proposed rate increases - this time to pay for new nuclear power plants. At least the appearance of a too-cozy relationship with Florida Power & Light Co., one of two utilities seeking higher nuclear rates, led to the resignation of Ryder Rudd as director of strategic analysis and governmental affairs. Rudd, whose duties included lobbying the Legislature, last month acknowledged he and his wife attended a Kentucky Derby Party at the home of an FPL executive. That disclosure came as the commission began hearings on a separate FPL request to raise its base rates. Commissioner Nancy Argenziano's chief adviser, Larry Harris, also resigned at her request after admitting he gave the private messaging code for his smartphone to an FPL executive.
Energy Net

FPL head walks out of hearing on rate increase | news-press.com | The News-Press - 0 views

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    "The head of Florida Power & Light Co. left the Public Service Commission hearing on the company's rate increase, complaining that 20,000 jobs in plant construction and growth will be lost because "politics trumped economics." The PSC hearing is still going on, but the regulatory panel has been whacking away at its already reduced staff recommendations all day. FP&L had sought a $1.3 billion rate hike but the staff recommended only $357 million -- and the commission lowered that. "Today, politics trumped economics because there is no economic case for the decisions that this commission made," said Armando Olivera, the company CEO."
Energy Net

Georgia Power request tops $1 billion  | ajc.com - 0 views

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    "Georgia Power wants to raise rates by $1.02 billion over 26 months starting in January, eventually pushing up a typical family's power bill by nearly $18 per month. The phased increase would start with a $615 million hike in January, adding $10.88 to a typical monthly residential bill, or about 10 percent. Five smaller increases would follow, the last in February 2013. The company laid out its request Thursday in a filing to the state Public Service Commission, which will hold hearings in coming months before a vote Dec. 21. The increases would be on top of special charges already approved by the PSC to help Georgia Power pay for two new nuclear reactors at Plant Vogtle. Those charges will add about $1.30 to bills next year, with that amount growing to about $9 a month in 2017."
Energy Net

Georgia Power set to defend payment plan for nukes | ajc.com - 0 views

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    t it's Monday, it must be the Public Service Commission. Georgia Power's two-front campaign for a new nuclear reactor fee will skip back across the street this week, after a so-far successful two weeks at the state Legislature. The utility will defend its proposed charge - an early collection of reactor construction financing costs - at a final round of state PSC hearings beginning Monday. The scheduled three-day hearing will unfold even as state lawmakers barrel ahead with their own version of the nuclear fee.
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