/PRNewswire/ -- Georgia Power expects to request approval from the Georgia Public Service Commission to decertify two coal-generating units totaling 569 megawatts, the company announced Wednesday.
The request to decertify units 1 and 2 at Plant Branch in Putnam Co. will be included in Georgia Power's updated Integrated Resource Plan filing with the commission in late summer. The company expects to ask for decertification of the units as of the effective dates of the Georgia Multipollutant Rule, which are currently anticipated to be Dec. 31, 2013 for unit 1 and Oct. 1, 2013 for unit 2.
The decision to decertify the units is based on a need to install environmental controls to meet a variety of existing and expected environmental regulations.
"After an extensive analysis of the cost to comply with environmental regulations, we have determined the continued operation of these units would be uneconomical for our customers," said Georgia Power President and CEO Paul Bowers. "This decision is in keeping with our focus to provide affordable and reliable electricity for our customers."
Georgia Power will continue to evaluate existing and expected federal and state environmental rules involving air emissions, water treatment, and coal ash and gypsum to determine the economics of installing additional environmental controls on generating units at other Georgia Power plants, including Plant Branch units 3 and 4.
Georgia Power currently operates 9,686 megawatts of coal-fueled generation at 10 plants across the state.
The commission is expected to vote on the decertification request in spring 2012.
Georgia Power is the largest subsidiary of Southern Company (NYSE: SO), one of the nation's largest generators of electricity. The company is an investor-owned, tax-paying utility with rates below the national average. Georgia Power serves 2.3 million customers in all but four of Georgia's 159 counties.
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Wednesday, March 16, 2011
Wednesday, February 9, 2011
Atlanta Mayor Kasim Reed Launches “Em-Powered to Change” Energy Conservation Initiative
Employees to “Cut Back, Give Back” During a Five-Year Conservation Project
Today, Mayor Kasim Reed kicked off “Em-Powered to Change,” a pilot sustainability program with the City’s Department of Parks, Recreation & Cultural Affairs (DPRCA) at the Atlanta Civic Center.
“Launching programs such as the ‘Em-Powered to Change’ initiative is a critical component of making Atlanta a more sustainable City,” said Mayor Kasim Reed. “The City of Atlanta will continue to do its part to be a national leader in the area of sustainability.”
Last October, Mayor Reed set an aggressive goal of making Atlanta a top 10 city for sustainability. The “Em-Powered to Change” campaign will guide city employees by converting existing facility procedures into energy and money saving policies. The Mayor’s goal is to reduce energy use in City facilities by 20 percent over the next five years. Mayor Reed was on-site to kick-off the “Em-Powered to Change Energy Expo” and introduced the new conservation policies to hundreds of employees and the 38 buildings that make up the DPRCA.
During the Energy Expo, facility managers and operators from the DPRCA came together to learn steps and policies that can be implemented to reduce energy, material use and waste. These tools will not only be useful in the workplace but can also be replicated in employees’ personal lives. Additionally, the Energy Expo included educational stations that will demonstrate sustainable practices that can be executed in public and private facilities.
For more information about Atlanta’s efforts to create a more sustainable city, visit http://www.atlantaga.gov/mayor/sustainability.aspx
About City of Atlanta, Division of Sustainability
Launched in 2008, the City of Atlanta’s Division of Sustainability has been focused on instituting sustainability practices into Atlanta city government. The Division of Sustainability is working with departments across city government to improve current programs and policies and implement new ones in addition to becoming early adopters of national accountability initiatives designed to promote more sustainable municipal practices. In the past year, the city has expanded its scope to include community-wide initiatives.
About the Department of Parks, Recreation and Cultural Affairs (DPRCA)
The Department of Parks, Recreation and Cultural Affairs (DPRCA) enhances the lives of City of Atlanta residents and visitors by offering programs, services and activities that encourage participation in recreational activities, leisure services and cultural experiences. The department strives to deliver quality customer service through the development, operation and maintenance of the city's public parks, recreation and cultural affairs facilities to create an environment that is deemed safe, affordable and enriching for all.
Today, Mayor Kasim Reed kicked off “Em-Powered to Change,” a pilot sustainability program with the City’s Department of Parks, Recreation & Cultural Affairs (DPRCA) at the Atlanta Civic Center.
“Launching programs such as the ‘Em-Powered to Change’ initiative is a critical component of making Atlanta a more sustainable City,” said Mayor Kasim Reed. “The City of Atlanta will continue to do its part to be a national leader in the area of sustainability.”
Last October, Mayor Reed set an aggressive goal of making Atlanta a top 10 city for sustainability. The “Em-Powered to Change” campaign will guide city employees by converting existing facility procedures into energy and money saving policies. The Mayor’s goal is to reduce energy use in City facilities by 20 percent over the next five years. Mayor Reed was on-site to kick-off the “Em-Powered to Change Energy Expo” and introduced the new conservation policies to hundreds of employees and the 38 buildings that make up the DPRCA.
During the Energy Expo, facility managers and operators from the DPRCA came together to learn steps and policies that can be implemented to reduce energy, material use and waste. These tools will not only be useful in the workplace but can also be replicated in employees’ personal lives. Additionally, the Energy Expo included educational stations that will demonstrate sustainable practices that can be executed in public and private facilities.
For more information about Atlanta’s efforts to create a more sustainable city, visit http://www.atlantaga.gov/mayor/sustainability.aspx
About City of Atlanta, Division of Sustainability
Launched in 2008, the City of Atlanta’s Division of Sustainability has been focused on instituting sustainability practices into Atlanta city government. The Division of Sustainability is working with departments across city government to improve current programs and policies and implement new ones in addition to becoming early adopters of national accountability initiatives designed to promote more sustainable municipal practices. In the past year, the city has expanded its scope to include community-wide initiatives.
About the Department of Parks, Recreation and Cultural Affairs (DPRCA)
The Department of Parks, Recreation and Cultural Affairs (DPRCA) enhances the lives of City of Atlanta residents and visitors by offering programs, services and activities that encourage participation in recreational activities, leisure services and cultural experiences. The department strives to deliver quality customer service through the development, operation and maintenance of the city's public parks, recreation and cultural affairs facilities to create an environment that is deemed safe, affordable and enriching for all.
Suniva ARTisun™ Select Solar Cells Surpass 19 Percent Efficiency in Production
(BUSINESS WIRE)--Suniva, Inc., a U.S. manufacturer of high-efficiency monocrystalline silicon solar cells and modules, today announced its next generation ARTisun™ Select series solar cells are in production. These next generation cells are achieving conversion efficiencies of more than 19 percent, a record for screen-printed cells in full-scale production. Suniva attains these efficiencies using a uniform single-sided emitter along with other proprietary innovations on the front side of the cell. Suniva is the first company to successfully leverage ion implantation as an enabling technology in the mass production of solar cells.
Suniva’s unique intellectual property and proprietary processing capabilities, combined with several years of collaborative research and development on ion implantation technology, enables the company to bring ARTisun Select to the market and into full production as the first of its kind using this unique manufacturing technology. Additionally, Suniva simplified its solar cell manufacturing process by eliminating two entire steps, which allows the company to more cost-effectively produce its record-setting cells. The use of ion implantation in Suniva’s manufacturing process is based on years of development collaboration with Varian Semiconductor Equipment Associates (NASDAQ: VSEA).
“Combined with Suniva’s innovative R&D and proprietary processes, ion implantation provides us with a very cost-effective way to manufacture solar cells of 19 percent efficiency without adding complex processes for a selective emitter. We do have the capability to use a selective emitter, but we have not yet chosen to do so,” said Dr. Ajeet Rohatgi, Suniva founder and CTO. “Our unique development process is what will ultimately enable Suniva to achieve efficiencies in the 20 percent range in our third generation cells on n-type wafer and maintain an equally attractive manufacturing cost.”
Suniva’s record-setting efficiencies for low cost cells are being integrated across its module line with module level efficiencies of 16+%. The ARTisun Select product line is a logical progression on Suniva’s technology roadmap towards its next generation products that are in its labs. This technology roadmap is built around multiple proprietary cell structures certified by NREL as achieving 20% efficiency. Suniva previously achieved industry-leading, certified efficiencies of more than 20 percent on screen-printed cells in the lab.
“Leveraging ion implantation in solar cell processing has traditionally proven too costly and slow. Combined with Suniva’s deep research and our own proprietary design, recipes and processes, we have unlocked the value of the ion implanter as an enabling technology for solar cell processing. The result is an immediate, one percent efficiency gain in ARTisun Select, and an ongoing reduction in our cell conversion costs,” said Bruce McPherson, vice president of research and development for Suniva. “We are quite confident that this is just the first step in a multistep process which will take Suniva well into the 20% category of efficiencies while still maintaining low cost screen printed manufacturing processes. Through continued innovation, optimization and modification of cell design and manufacturing processes, and by leveraging both our unique R&D relationship with the University Center of Excellence in Photovoltaics (UCEP) and strategic 3rd party technology collaborations , such as Varian, Suniva will continue to lead the market in efficiencies so far unattained in low-cost solar cell manufacturing.”
With its expanding, diverse and skilled workforce, Suniva is producing world-class technology and generating record-setting screen printed solar cell efficiencies both in the lab and in manufacturing. For more information about Suniva and its products, please visit www.suniva.com.
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Suniva’s unique intellectual property and proprietary processing capabilities, combined with several years of collaborative research and development on ion implantation technology, enables the company to bring ARTisun Select to the market and into full production as the first of its kind using this unique manufacturing technology. Additionally, Suniva simplified its solar cell manufacturing process by eliminating two entire steps, which allows the company to more cost-effectively produce its record-setting cells. The use of ion implantation in Suniva’s manufacturing process is based on years of development collaboration with Varian Semiconductor Equipment Associates (NASDAQ: VSEA).
“Combined with Suniva’s innovative R&D and proprietary processes, ion implantation provides us with a very cost-effective way to manufacture solar cells of 19 percent efficiency without adding complex processes for a selective emitter. We do have the capability to use a selective emitter, but we have not yet chosen to do so,” said Dr. Ajeet Rohatgi, Suniva founder and CTO. “Our unique development process is what will ultimately enable Suniva to achieve efficiencies in the 20 percent range in our third generation cells on n-type wafer and maintain an equally attractive manufacturing cost.”
Suniva’s record-setting efficiencies for low cost cells are being integrated across its module line with module level efficiencies of 16+%. The ARTisun Select product line is a logical progression on Suniva’s technology roadmap towards its next generation products that are in its labs. This technology roadmap is built around multiple proprietary cell structures certified by NREL as achieving 20% efficiency. Suniva previously achieved industry-leading, certified efficiencies of more than 20 percent on screen-printed cells in the lab.
“Leveraging ion implantation in solar cell processing has traditionally proven too costly and slow. Combined with Suniva’s deep research and our own proprietary design, recipes and processes, we have unlocked the value of the ion implanter as an enabling technology for solar cell processing. The result is an immediate, one percent efficiency gain in ARTisun Select, and an ongoing reduction in our cell conversion costs,” said Bruce McPherson, vice president of research and development for Suniva. “We are quite confident that this is just the first step in a multistep process which will take Suniva well into the 20% category of efficiencies while still maintaining low cost screen printed manufacturing processes. Through continued innovation, optimization and modification of cell design and manufacturing processes, and by leveraging both our unique R&D relationship with the University Center of Excellence in Photovoltaics (UCEP) and strategic 3rd party technology collaborations , such as Varian, Suniva will continue to lead the market in efficiencies so far unattained in low-cost solar cell manufacturing.”
With its expanding, diverse and skilled workforce, Suniva is producing world-class technology and generating record-setting screen printed solar cell efficiencies both in the lab and in manufacturing. For more information about Suniva and its products, please visit www.suniva.com.
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Wednesday, February 2, 2011
Georgia Power and EPRI to Study Solar PV Installation on Power Lines
/PRNewswire/ -- Georgia Power and the Electric Power Research Institute (EPRI) are conducting an 18-month study to evaluate how solar photovoltaic (PV) power systems may affect the utility's distribution system.
Fifty PV systems are being installed in seven cities around the state. Seven-to-eight small systems will be installed on one distribution line in each city. Sites were identified based on a number of environmental parameters. Selecting cities around the state will allow evaluation of a variety of conditions such as temperature, cloud cover and solar intensity.
EPRI will monitor each module's power output and sunlight input at one- second intervals for the entire 18 months to determine how much electricity they generate and how well they perform under diverse weather conditions. The panels will remain in place at the end of the project and Georgia Power will continue to monitor long-term results. This research will help to:
* Identify the effects, if any, on operation of Georgia Power's distribution system
* Understand the feasibility of widespread solar PV installations on distribution lines
* Determine ranges for overall PV performance in Georgia
* Characterize and compare variable issues such as passing clouds
Each panel is about 3-by-5 feet in size, and able to generate about 200 watts of electricity.
"An installation of this size will not create a noticeable increase in the amount of energy on our distribution system," says Scott Gentry, Georgia Power's distributed generation services project manager and coordinator for this project. "However, the data we collect from each module will provide useful information on PV generation as it relates to the utilities grid."
PV panels have been installed in Rome, Valdosta, Macon, Augusta, Columbus, Savannah and Conley. EPRI will own the panels while Georgia Power does the installation.
Solar power uses PV cells to convert sunlight directly into electricity. When sunlight strikes a PV cell, electrons are dislodged, creating an electrical current.
Georgia Power is the largest subsidiary of Southern Company, one of the nation's largest generators of electricity. The company is an investor-owned, tax-paying utility with rates well below the national average. Georgia Power serves 2.3 million customers in all but four of Georgia's 159 counties.
The Electric Power Research Institute, Inc. (EPRI) conducts research and development relating to the generation, delivery and use of electricity for the benefit of the public. An independent, nonprofit organization, EPRI brings together its scientists and engineers as well as experts from academia and industry to help address challenges in electricity, including reliability, efficiency, health, safety and the environment. EPRI also provides technology, policy and economic analyses to drive long-range research and development planning, and supports research in emerging technologies. EPRI's members represent more than 90 percent of the electricity generated and delivered in the United States, and international participation extends to 40 countries. EPRI's principal offices and laboratories are located in Palo Alto, Calif.; Charlotte, N.C.; Knoxville, Tenn.; and Lenox, Mass.
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Fifty PV systems are being installed in seven cities around the state. Seven-to-eight small systems will be installed on one distribution line in each city. Sites were identified based on a number of environmental parameters. Selecting cities around the state will allow evaluation of a variety of conditions such as temperature, cloud cover and solar intensity.
EPRI will monitor each module's power output and sunlight input at one- second intervals for the entire 18 months to determine how much electricity they generate and how well they perform under diverse weather conditions. The panels will remain in place at the end of the project and Georgia Power will continue to monitor long-term results. This research will help to:
* Identify the effects, if any, on operation of Georgia Power's distribution system
* Understand the feasibility of widespread solar PV installations on distribution lines
* Determine ranges for overall PV performance in Georgia
* Characterize and compare variable issues such as passing clouds
Each panel is about 3-by-5 feet in size, and able to generate about 200 watts of electricity.
"An installation of this size will not create a noticeable increase in the amount of energy on our distribution system," says Scott Gentry, Georgia Power's distributed generation services project manager and coordinator for this project. "However, the data we collect from each module will provide useful information on PV generation as it relates to the utilities grid."
PV panels have been installed in Rome, Valdosta, Macon, Augusta, Columbus, Savannah and Conley. EPRI will own the panels while Georgia Power does the installation.
Solar power uses PV cells to convert sunlight directly into electricity. When sunlight strikes a PV cell, electrons are dislodged, creating an electrical current.
Georgia Power is the largest subsidiary of Southern Company, one of the nation's largest generators of electricity. The company is an investor-owned, tax-paying utility with rates well below the national average. Georgia Power serves 2.3 million customers in all but four of Georgia's 159 counties.
The Electric Power Research Institute, Inc. (EPRI) conducts research and development relating to the generation, delivery and use of electricity for the benefit of the public. An independent, nonprofit organization, EPRI brings together its scientists and engineers as well as experts from academia and industry to help address challenges in electricity, including reliability, efficiency, health, safety and the environment. EPRI also provides technology, policy and economic analyses to drive long-range research and development planning, and supports research in emerging technologies. EPRI's members represent more than 90 percent of the electricity generated and delivered in the United States, and international participation extends to 40 countries. EPRI's principal offices and laboratories are located in Palo Alto, Calif.; Charlotte, N.C.; Knoxville, Tenn.; and Lenox, Mass.
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Tuesday, February 1, 2011
Georgia Power Strikes Solar Power Deal With Dalton Utilities
/PRNewswire/ -- Georgia Power recently acquired a series of solar projects of up to 1 megawatt (MW) in Murray County, Ga., co-developed by United Renewable Energy LLC and Mack Creek Energy LLC.
Georgia Power will sell the output from the facility to Dalton Utilities.
The plant will be constructed on Looper Bridge Road in Dalton by United Renewable Energy and will be owned and operated by Georgia Power.
Under the terms of the deal, Georgia Power will lease property for the solar facility from Dalton Utilities, which will purchase 100 percent of the plant's capacity and energy through a 25-year power purchase agreement.
"Dalton Utilities is excited to be part of this project," said Don Cope, Dalton Utilities President and CEO. "This is a major initiative in expanding green energy in the State of Georgia. Upon the completion of this project, Dalton Utilities and its corporate customers will be able to advertise the fact that we are utilizing 'green' energy which has become increasingly important in today's market. This is one of several sustainable/renewable/green initiatives Dalton Utilities is in the process of developing."
Energy produced from the solar facility will be sold on the wholesale market therefore the cost of the facility will not become part of Georgia Power's retail rate base. All of the renewable energy credits from the facility will be conveyed to Dalton Utilities. The first phase of the facility is expected to begin commercial operations in spring 2011.
"This contract marks the first time Georgia Power has acquired a solar energy production facility to serve the wholesale market," said Jeff Burleson, Georgia Power's director of Resource Policy and Planning. "Not only will it increase the amount of solar resources in the state, but it also strengthens our partnership with Dalton Utilities, a fellow co-owner of the two new nuclear units under construction at Plant Vogtle."
The facility will be developed in phases with each phase comprising approximately 350 kW. Georgia Power has the option to construct two additional 350 kW phases for a total of 1 MW by January 2014. One megawatt is enough energy to supply a Super Target or approximately 400 Georgia residences.
"As a solar EPC company headquartered in Georgia," said William Silva, President of United Renewable Energy, "we applaud Dalton Utilities' vision, and Georgia Power's support of solar energy in the state. Over 100 solar jobs were created in the state of Georgia last year."
With the addition of this contract, Georgia Power's energy portfolio includes contracts with 14 qualified biomass and renewable facilities throughout the state that generate 28 MW of capacity, or enough renewable energy to power more than 11,200 homes. These contracts include electricity generated from wood waste, landfill methane gas, and hydro.
Dalton Utilities provides potable water, electric, natural gas, wastewater, stormwater and telecommunications services to approximately 77,000 customers in Dalton and five surrounding counties. Dalton Utilities is engaged in various sustainable/green energy projects including the use of treated wastewater to cool a merchant power plant, creating biodiesel from its wastewater stream, the composting of biosolids and the reuse of carpet waste to generate electricity.
Georgia Power is the largest subsidiary of Southern Company, one of the nation's largest generators of electricity. The company is an investor-owned, tax-paying utility with rates well below the national average. Georgia Power serves 2.3 million customers in all but four of Georgia's 159 counties. www.georgiapower.com
United Renewable Energy is a solar project developer and multistate electrical contractor specializing in solar photovoltaics. Operating throughout the east coast, United Renewable Energy designs, procures, finances and installs high quality turnkey utility and commercial solar projects. www.u-renew.com
Mack Creek Energy develops innovative, lowest-cost renewable power projects, with a focus on utility customers that have large fleets of baseload coal generation, such as Georgia Power Company.
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Georgia Power will sell the output from the facility to Dalton Utilities.
The plant will be constructed on Looper Bridge Road in Dalton by United Renewable Energy and will be owned and operated by Georgia Power.
Under the terms of the deal, Georgia Power will lease property for the solar facility from Dalton Utilities, which will purchase 100 percent of the plant's capacity and energy through a 25-year power purchase agreement.
"Dalton Utilities is excited to be part of this project," said Don Cope, Dalton Utilities President and CEO. "This is a major initiative in expanding green energy in the State of Georgia. Upon the completion of this project, Dalton Utilities and its corporate customers will be able to advertise the fact that we are utilizing 'green' energy which has become increasingly important in today's market. This is one of several sustainable/renewable/green initiatives Dalton Utilities is in the process of developing."
Energy produced from the solar facility will be sold on the wholesale market therefore the cost of the facility will not become part of Georgia Power's retail rate base. All of the renewable energy credits from the facility will be conveyed to Dalton Utilities. The first phase of the facility is expected to begin commercial operations in spring 2011.
"This contract marks the first time Georgia Power has acquired a solar energy production facility to serve the wholesale market," said Jeff Burleson, Georgia Power's director of Resource Policy and Planning. "Not only will it increase the amount of solar resources in the state, but it also strengthens our partnership with Dalton Utilities, a fellow co-owner of the two new nuclear units under construction at Plant Vogtle."
The facility will be developed in phases with each phase comprising approximately 350 kW. Georgia Power has the option to construct two additional 350 kW phases for a total of 1 MW by January 2014. One megawatt is enough energy to supply a Super Target or approximately 400 Georgia residences.
"As a solar EPC company headquartered in Georgia," said William Silva, President of United Renewable Energy, "we applaud Dalton Utilities' vision, and Georgia Power's support of solar energy in the state. Over 100 solar jobs were created in the state of Georgia last year."
With the addition of this contract, Georgia Power's energy portfolio includes contracts with 14 qualified biomass and renewable facilities throughout the state that generate 28 MW of capacity, or enough renewable energy to power more than 11,200 homes. These contracts include electricity generated from wood waste, landfill methane gas, and hydro.
Dalton Utilities provides potable water, electric, natural gas, wastewater, stormwater and telecommunications services to approximately 77,000 customers in Dalton and five surrounding counties. Dalton Utilities is engaged in various sustainable/green energy projects including the use of treated wastewater to cool a merchant power plant, creating biodiesel from its wastewater stream, the composting of biosolids and the reuse of carpet waste to generate electricity.
Georgia Power is the largest subsidiary of Southern Company, one of the nation's largest generators of electricity. The company is an investor-owned, tax-paying utility with rates well below the national average. Georgia Power serves 2.3 million customers in all but four of Georgia's 159 counties. www.georgiapower.com
United Renewable Energy is a solar project developer and multistate electrical contractor specializing in solar photovoltaics. Operating throughout the east coast, United Renewable Energy designs, procures, finances and installs high quality turnkey utility and commercial solar projects. www.u-renew.com
Mack Creek Energy develops innovative, lowest-cost renewable power projects, with a focus on utility customers that have large fleets of baseload coal generation, such as Georgia Power Company.
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Oglethorpe Power to Purchase Combined Cycle Units
/PRNewswire/ -- Oglethorpe Power Corporation announced today that it has entered into a purchase and sale agreement with an affiliate of KGen Power Corporation to acquire two combined cycle generating facilities in Murray County, Ga.
The Murray I and Murray II natural gas units, located just outside Dalton, Ga., have a combined summer planning reserve generating capacity of approximately 1,220 megawatts. The purchase price, exclusive of working capital and other closing adjustments, is approximately $531 million.
Oglethorpe Power announced in October 2010 that it had entered a non-binding agreement to purchase existing gas-fired facilities but did not identify the seller or location for reasons of confidentiality. Since that time, the corporation has completed its due diligence, and its Board and Member Systems have approved the transaction.
The acquisition is still subject to applicable regulatory approvals, the approval of KGen Power stockholders, and other customary closing conditions. If the transaction is completed, closing is expected in April 2011.
"This acquisition of an existing, low-cost and proven facility in Georgia to help meet our Members' future power supply needs is a good strategic fit for our power supply portfolio," said Elizabeth B. Higgins, executive vice president and chief financial officer. If successful, this will be Oglethorpe Power's third power generating facility acquisition over the last two years.
Oglethorpe Power will cancel a 605-megawatt combined cycle plant currently under development if the Murray purchase is completed. The corporation had not announced a final location for that facility but had been considering property it already owns in Monroe County, Ga., among other options.
Independently from the combined cycle facilities acquisition, Oglethorpe Power has deferred development of a previously announced 100-megawatt biomass plant in Warren County, Ga. as it continues to monitor regulatory and legislative developments related to biomass electricity generation.
Oglethorpe Power engaged Sutherland as legal counsel for the transaction and is not utilizing a financial adviser.
Oglethorpe Power is the nation's largest power supply cooperative with approximately $6.5 billion in assets, serving 39 Electric Membership Corporations (EMCs) providing power to more than 4.1 million Georgians.
A proponent of conscientious energy development and use, Oglethorpe Power balances reliable and affordable energy with environmental responsibility and has an outstanding record of regulatory compliance. Its diverse energy portfolio includes natural gas, hydroelectric, coal and nuclear generating plants with a combined capacity of approximately 5,790 megawatts (summer planning reserve capacity), as well as purchased power.
Oglethorpe Power was established in 1974 and is owned by its 39 Member Systems. It is headquartered in Tucker, Ga.
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The Murray I and Murray II natural gas units, located just outside Dalton, Ga., have a combined summer planning reserve generating capacity of approximately 1,220 megawatts. The purchase price, exclusive of working capital and other closing adjustments, is approximately $531 million.
Oglethorpe Power announced in October 2010 that it had entered a non-binding agreement to purchase existing gas-fired facilities but did not identify the seller or location for reasons of confidentiality. Since that time, the corporation has completed its due diligence, and its Board and Member Systems have approved the transaction.
The acquisition is still subject to applicable regulatory approvals, the approval of KGen Power stockholders, and other customary closing conditions. If the transaction is completed, closing is expected in April 2011.
"This acquisition of an existing, low-cost and proven facility in Georgia to help meet our Members' future power supply needs is a good strategic fit for our power supply portfolio," said Elizabeth B. Higgins, executive vice president and chief financial officer. If successful, this will be Oglethorpe Power's third power generating facility acquisition over the last two years.
Oglethorpe Power will cancel a 605-megawatt combined cycle plant currently under development if the Murray purchase is completed. The corporation had not announced a final location for that facility but had been considering property it already owns in Monroe County, Ga., among other options.
Independently from the combined cycle facilities acquisition, Oglethorpe Power has deferred development of a previously announced 100-megawatt biomass plant in Warren County, Ga. as it continues to monitor regulatory and legislative developments related to biomass electricity generation.
Oglethorpe Power engaged Sutherland as legal counsel for the transaction and is not utilizing a financial adviser.
Oglethorpe Power is the nation's largest power supply cooperative with approximately $6.5 billion in assets, serving 39 Electric Membership Corporations (EMCs) providing power to more than 4.1 million Georgians.
A proponent of conscientious energy development and use, Oglethorpe Power balances reliable and affordable energy with environmental responsibility and has an outstanding record of regulatory compliance. Its diverse energy portfolio includes natural gas, hydroelectric, coal and nuclear generating plants with a combined capacity of approximately 5,790 megawatts (summer planning reserve capacity), as well as purchased power.
Oglethorpe Power was established in 1974 and is owned by its 39 Member Systems. It is headquartered in Tucker, Ga.
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Tuesday, January 25, 2011
ArcLight Teams With GE and Singapore's GIC to Form Largest Fully Independent Power Producer in US Southeast
/PRNewswire/ -- ArcLight Capital Partners, LLC ("ArcLight"), GE Energy Financial Services, a unit of GE (NYSE: GE), and the Government of Singapore Investment Corporation Pte Ltd ("GIC") announced today they have agreed to become partners in five Georgia natural gas-fired power plants that together make up the largest fully independent power producer in the southeastern United States. The GE unit and GIC will each acquire 24.95 percent of the portfolio from an affiliate of ArcLight, now its sole owner. An affiliate of ArcLight will retain 50.10 percent.
Financial details of the transaction were not disclosed. The closing of the transaction remains subject to approval by the Federal Energy Regulatory Commission and Committee on Foreign Investment in the United States and is expected to occur toward the end of the first quarter of 2011.
The plants, located throughout Georgia, comprise a combined cycle facility and four single-cycle peaking facilities, each of which is less than 10 years old. Together, they are capable of generating more than 2,500 megawatts of power, in several cases using GE gas-fired turbines. All five facilities, critical to the regional power supply and grid stability, are contracted under long-term agreements to investment-grade counterparties and are managed by Consolidated Asset Management Services, an ArcLight affiliate.
The portfolio comprises:
* Monroe – a 320-megawatt plant in Monroe, 50 miles east of Atlanta
* Walton – a 450-megawatt plant in Monroe, adjacent to the Monroe plant
* Washington – a 602-megawatt plant in Linton, 50 miles east of Macon
* Sandersville – a 640-megawatt plant in Sandersville, seven miles from the Washington plant
* Effingham – a 515-megawatt plant in Rincon, 20 miles north of Savannah
The portfolio is well positioned to benefit from the macroeconomic recovery and more stringent energy and carbon legislation as well as the boom in production of unconventional natural gas in the United States. In addition, the portfolio will support additional infrastructure investment in the region to meet the demand for power and accommodate the power supply reconfiguration expected to unfold over the next decade.
"Since the initial investment in this portfolio in 2007, ArcLight and CAMS have developed a strong track record of operational success and commercial reliability in a promising regional market," said Dan Revers, Managing Partner of ArcLight. "We are excited about the opportunity to partner with these two highly respected and valued-added investors, and we look forward to working closely with GE and GIC to maximize value across the portfolio and platform."
ArcLight has completed several transactions with GE Energy Financial Services, including the GE unit's lead lending of $98 million in senior secured credit facilities for the Sandersville power plant.
"This transaction enables us to deepen our relationship with ArcLight, establish ties with an important new partner, GIC, and work together on an attractive set of assets in a core focus area, thermal power generation," said Kevin Walsh, managing director and leader of Power and Renewables at GE Energy Financial Services.
"This is an attractive portfolio of contracted power generation facilities in a region experiencing an increasing demand for low carbon, efficient power. The completion of this transaction complements our growing portfolio of infrastructure investments in the US. We are delighted to have ArcLight and GE, who have extensive experience in owning and operating similar assets, as our partners in this deal," said Mr. Ang Eng Seng, Global Head of GIC's Infrastructure Group.
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Financial details of the transaction were not disclosed. The closing of the transaction remains subject to approval by the Federal Energy Regulatory Commission and Committee on Foreign Investment in the United States and is expected to occur toward the end of the first quarter of 2011.
The plants, located throughout Georgia, comprise a combined cycle facility and four single-cycle peaking facilities, each of which is less than 10 years old. Together, they are capable of generating more than 2,500 megawatts of power, in several cases using GE gas-fired turbines. All five facilities, critical to the regional power supply and grid stability, are contracted under long-term agreements to investment-grade counterparties and are managed by Consolidated Asset Management Services, an ArcLight affiliate.
The portfolio comprises:
* Monroe – a 320-megawatt plant in Monroe, 50 miles east of Atlanta
* Walton – a 450-megawatt plant in Monroe, adjacent to the Monroe plant
* Washington – a 602-megawatt plant in Linton, 50 miles east of Macon
* Sandersville – a 640-megawatt plant in Sandersville, seven miles from the Washington plant
* Effingham – a 515-megawatt plant in Rincon, 20 miles north of Savannah
The portfolio is well positioned to benefit from the macroeconomic recovery and more stringent energy and carbon legislation as well as the boom in production of unconventional natural gas in the United States. In addition, the portfolio will support additional infrastructure investment in the region to meet the demand for power and accommodate the power supply reconfiguration expected to unfold over the next decade.
"Since the initial investment in this portfolio in 2007, ArcLight and CAMS have developed a strong track record of operational success and commercial reliability in a promising regional market," said Dan Revers, Managing Partner of ArcLight. "We are excited about the opportunity to partner with these two highly respected and valued-added investors, and we look forward to working closely with GE and GIC to maximize value across the portfolio and platform."
ArcLight has completed several transactions with GE Energy Financial Services, including the GE unit's lead lending of $98 million in senior secured credit facilities for the Sandersville power plant.
"This transaction enables us to deepen our relationship with ArcLight, establish ties with an important new partner, GIC, and work together on an attractive set of assets in a core focus area, thermal power generation," said Kevin Walsh, managing director and leader of Power and Renewables at GE Energy Financial Services.
"This is an attractive portfolio of contracted power generation facilities in a region experiencing an increasing demand for low carbon, efficient power. The completion of this transaction complements our growing portfolio of infrastructure investments in the US. We are delighted to have ArcLight and GE, who have extensive experience in owning and operating similar assets, as our partners in this deal," said Mr. Ang Eng Seng, Global Head of GIC's Infrastructure Group.
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Monday, January 24, 2011
Southern Company and Ted Turner Energize Cimarron Solar Facility
/PRNewswire/ -- The clean and plentiful sunshine of New Mexico is now producing electricity for some 9,000 homes as the Cimarron Solar Facility has begun commercial operation. At 30 megawatts, Cimarron is among the nation's largest solar photovoltaic plants.
The facility is the first resulting from the partnership between Southern Company (NYSE: SO) and Ted Turner and will supply power to the member electric cooperatives of Denver-based Tri-State Generation and Transmission Association. Tempe, Ariz.-based First Solar, Inc., (Nasdaq: FSLR) developed and constructed the facility and will provide operation and maintenance services under a long-term contract.
"This is a key milestone for Southern Company as we steadily incorporate more renewables into our energy portfolio," said Southern Company Chairman, President and CEO Tom Fanning. "Renewables, along with new nuclear, increased energy efficiency, 21st century coal technology and additional natural gas, all will be crucial to meeting this nation's growing energy demand."
Fanning also noted that New Mexico, with its abundant solar resources, was an ideal location to establish the company's first commercial-scale solar operation.
The 364-acre plant site is located within the service territory of Tri-State member system Springer Electric Cooperative in Colfax County, N.M., and is adjacent to Turner's Vermejo Park Ranch.
Southern Company and Turner Renewable Energy acquired the project from First Solar in March 2010. Turner Renewable Energy is a wholly owned subsidiary of Turner Enterprises with a focus on development of commercial-scale solar projects.
"We are very excited to see this project completed and producing clean solar energy to power homes and businesses in New Mexico," said Turner. "Large-scale solar generation is among the fastest growing energy sources in the world, and we're pleased that we can be a part of that growth."
Initially expected to go on line by the end of 2010, the facility was completed in eight months and began commercial operation in early December, nearly a month ahead of schedule. More than 300 workers were employed to construct the plant, which uses approximately 500,000 2'x 4' advanced thin film photovoltaic modules manufactured by First Solar.
"The Cimarron Solar Facility demonstrates First Solar's capabilities in utility scale projects," said Frank De Rosa, First Solar Senior Vice President of Project Development, North America. "Integrating technology, manufacturing, project development and engineering, procurement and construction expertise enables First Solar to be a leader in sustainable energy development."
Electricity generated by the plant will serve a 25-year power purchase agreement with Tri-State Generation and Transmission Association, a not-for-profit wholesale power supplier to 44 electric cooperatives serving 1.5 million consumers across Colorado, Nebraska, New Mexico and Wyoming. The project further expands Tri-State's focus on providing renewable generation for its members, as the association also announced late last year that its Kit Carson Windpower Project began commercial operation in eastern Colorado.
"The Cimarron Solar Facility is another example of our ability to harness and utilize the abundant natural resources that are available to us in the West," said Ken Anderson, Tri-State's executive vice president and general manager. "Working with our partners, we have made a significant technology investment in the rural communities we serve, while further diversifying Tri-State's renewable resource mix."
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The facility is the first resulting from the partnership between Southern Company (NYSE: SO) and Ted Turner and will supply power to the member electric cooperatives of Denver-based Tri-State Generation and Transmission Association. Tempe, Ariz.-based First Solar, Inc., (Nasdaq: FSLR) developed and constructed the facility and will provide operation and maintenance services under a long-term contract.
"This is a key milestone for Southern Company as we steadily incorporate more renewables into our energy portfolio," said Southern Company Chairman, President and CEO Tom Fanning. "Renewables, along with new nuclear, increased energy efficiency, 21st century coal technology and additional natural gas, all will be crucial to meeting this nation's growing energy demand."
Fanning also noted that New Mexico, with its abundant solar resources, was an ideal location to establish the company's first commercial-scale solar operation.
The 364-acre plant site is located within the service territory of Tri-State member system Springer Electric Cooperative in Colfax County, N.M., and is adjacent to Turner's Vermejo Park Ranch.
Southern Company and Turner Renewable Energy acquired the project from First Solar in March 2010. Turner Renewable Energy is a wholly owned subsidiary of Turner Enterprises with a focus on development of commercial-scale solar projects.
"We are very excited to see this project completed and producing clean solar energy to power homes and businesses in New Mexico," said Turner. "Large-scale solar generation is among the fastest growing energy sources in the world, and we're pleased that we can be a part of that growth."
Initially expected to go on line by the end of 2010, the facility was completed in eight months and began commercial operation in early December, nearly a month ahead of schedule. More than 300 workers were employed to construct the plant, which uses approximately 500,000 2'x 4' advanced thin film photovoltaic modules manufactured by First Solar.
"The Cimarron Solar Facility demonstrates First Solar's capabilities in utility scale projects," said Frank De Rosa, First Solar Senior Vice President of Project Development, North America. "Integrating technology, manufacturing, project development and engineering, procurement and construction expertise enables First Solar to be a leader in sustainable energy development."
Electricity generated by the plant will serve a 25-year power purchase agreement with Tri-State Generation and Transmission Association, a not-for-profit wholesale power supplier to 44 electric cooperatives serving 1.5 million consumers across Colorado, Nebraska, New Mexico and Wyoming. The project further expands Tri-State's focus on providing renewable generation for its members, as the association also announced late last year that its Kit Carson Windpower Project began commercial operation in eastern Colorado.
"The Cimarron Solar Facility is another example of our ability to harness and utilize the abundant natural resources that are available to us in the West," said Ken Anderson, Tri-State's executive vice president and general manager. "Working with our partners, we have made a significant technology investment in the rural communities we serve, while further diversifying Tri-State's renewable resource mix."
-----
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Friday, January 21, 2011
In Landmark Move, EPA Approves Higher Ethanol Blend for Vehicles Built in Last Decade
/PRNewswire/ -- Growth Energy announced today that U.S. jobs will be created, carbon removed from the air, and our national security made stronger with a decision by the U.S. Environmental Protection Agency today to raise the amount of ethanol that can be blended into our fuel from 10 percent (E10) to 15 percent (E15) for all vehicles built in the last decade.
The decision today to permit E15 for 2001-to-2006 model year vehicles follows an October decision by EPA to permit blends up to E15 in vehicles 2007 model year and newer. The EPA was responding to a regulatory petition, the Green Jobs Waiver, filed in March 2009 by Growth Energy, America's leading voice for ethanol supporters and producers.
A full move to E15 creates a bigger market for American ethanol that could help create as many as 136,000 new jobs in the United States and eliminate as much as 8 million metric tons of GHG emissions from the air in a year — the equivalent of taking 1.35 million vehicles off the road. Increasing the domestic, renewable fuel supply would also displace some of the 7 billion gallons of oil that is imported every day into the United States from countries such as Venezuela, Saudi Arabia and Nigeria, at a cost of more than $300 billion annually to our economy.
"This is a bold move forward, changing America's energy future for the better," said Tom Buis, CEO of Growth Energy. "Increased use of ethanol will strengthen our energy security, create U.S. jobs, and improve the environment by displacing conventional gasoline with a low-carbon fuel."
Buis added that with engine and emissions systems testing on cars 2001 through 2010 complete – and showing no issues with using E15 as a fuel – EPA's approval of E15 should be extended to older vehicles to make continued progress in reducing America's dependence on foreign oil.
"There are many more steps we can take toward achieving our energy security and environmental goals. We commend the EPA and we urge them to continue testing E15 for all vehicles, so that every American motorist has the opportunity to use a blend of fuel that is proven to be better for our economy, our security and our environment."
The previous E10 standard – which permits up to 10 percent ethanol blended into fuel – was set in the 1970s to help spur the growth of a domestic, renewable fuels industry in answer to America's first major oil crisis, engineered by OPEC. Since then, the United States has remained addicted to foreign oil; two-thirds of the oil used in this country comes from overseas.
In March 2009, Growth Energy filed a petition with EPA to permit the raising of that regulatory cap on the ethanol blend from 10 percent to 15 percent to displace more foreign oil.
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The decision today to permit E15 for 2001-to-2006 model year vehicles follows an October decision by EPA to permit blends up to E15 in vehicles 2007 model year and newer. The EPA was responding to a regulatory petition, the Green Jobs Waiver, filed in March 2009 by Growth Energy, America's leading voice for ethanol supporters and producers.
A full move to E15 creates a bigger market for American ethanol that could help create as many as 136,000 new jobs in the United States and eliminate as much as 8 million metric tons of GHG emissions from the air in a year — the equivalent of taking 1.35 million vehicles off the road. Increasing the domestic, renewable fuel supply would also displace some of the 7 billion gallons of oil that is imported every day into the United States from countries such as Venezuela, Saudi Arabia and Nigeria, at a cost of more than $300 billion annually to our economy.
"This is a bold move forward, changing America's energy future for the better," said Tom Buis, CEO of Growth Energy. "Increased use of ethanol will strengthen our energy security, create U.S. jobs, and improve the environment by displacing conventional gasoline with a low-carbon fuel."
Buis added that with engine and emissions systems testing on cars 2001 through 2010 complete – and showing no issues with using E15 as a fuel – EPA's approval of E15 should be extended to older vehicles to make continued progress in reducing America's dependence on foreign oil.
"There are many more steps we can take toward achieving our energy security and environmental goals. We commend the EPA and we urge them to continue testing E15 for all vehicles, so that every American motorist has the opportunity to use a blend of fuel that is proven to be better for our economy, our security and our environment."
The previous E10 standard – which permits up to 10 percent ethanol blended into fuel – was set in the 1970s to help spur the growth of a domestic, renewable fuels industry in answer to America's first major oil crisis, engineered by OPEC. Since then, the United States has remained addicted to foreign oil; two-thirds of the oil used in this country comes from overseas.
In March 2009, Growth Energy filed a petition with EPA to permit the raising of that regulatory cap on the ethanol blend from 10 percent to 15 percent to displace more foreign oil.
-----
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Friday, December 17, 2010
Power4Georgians Statement on December 16, 2010 Administrative Law Judge’s Ruling
(BUSINESS WIRE)--We are very disappointed by this decision. As the ALJ acknowledged throughout her decision, Plant Washington’s permit contains a collection of the lowest emission limits of any coal-fired power plant in the country. These limits were the product of rigorous analyses by EPD. In the end, the ALJ elected to elevate form over substance, in that she focused on the words that the EPD witnesses used to explain their analyses, rather than the low emission limits that their analyses produced.
We are surprised by her decision.
Power4Georgians believes that, in reaching her decision on two of the MACT claims, the ALJ ignored the fact that Plant Washington’s MACT surrogate emission limitations for PM-filterable and carbon monoxide (CO) was recently cited by another court in Texas, and even the Sierra Club, as the lowest emission limitations that have been permitted for new coal-fired power plants.
The ALJ ruled in P4G’s and EPD’s favor on the majority of Petitioners’ claims. Of the five (5) claims left in the case, the ALJ rejected three (3) of these claims. Specifically, the ALJ rejected Petitioners’ claims regarding (a) the BACT emission limitation for sulfuric acid mist; (b) the use of CO as a surrogate for the control of dioxins and furans; and (c) P4G’s air dispersion modeling of PM10. The ALJ concluded, however, that the MACT emission limitations for PM-filterable and carbon monoxide (CO) are “not reflective of MACT.” The ALJ did not agree that Petitioners’ proposed alternative PM-filterable and CO emission limitations were “reflective of MACT;” rather, she concluded that EPD and P4G failed to support the Permit’s PM-filterable and CO emission limitations with sufficient data and analysis.
It is important to note that P4G’s intention to move forward with plans to develop and construct Plant Washington is unchanged. The ruling is 69 pages long and it was received this afternoon. We view this as a temporary setback and we are reviewing the decision carefully to determine the best path forward for this project. Coal continues to be an important and essential part of a reliable, low-cost energy portfolio for the future as evidenced by progress made recently on other plants across the nation.
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We are surprised by her decision.
Power4Georgians believes that, in reaching her decision on two of the MACT claims, the ALJ ignored the fact that Plant Washington’s MACT surrogate emission limitations for PM-filterable and carbon monoxide (CO) was recently cited by another court in Texas, and even the Sierra Club, as the lowest emission limitations that have been permitted for new coal-fired power plants.
The ALJ ruled in P4G’s and EPD’s favor on the majority of Petitioners’ claims. Of the five (5) claims left in the case, the ALJ rejected three (3) of these claims. Specifically, the ALJ rejected Petitioners’ claims regarding (a) the BACT emission limitation for sulfuric acid mist; (b) the use of CO as a surrogate for the control of dioxins and furans; and (c) P4G’s air dispersion modeling of PM10. The ALJ concluded, however, that the MACT emission limitations for PM-filterable and carbon monoxide (CO) are “not reflective of MACT.” The ALJ did not agree that Petitioners’ proposed alternative PM-filterable and CO emission limitations were “reflective of MACT;” rather, she concluded that EPD and P4G failed to support the Permit’s PM-filterable and CO emission limitations with sufficient data and analysis.
It is important to note that P4G’s intention to move forward with plans to develop and construct Plant Washington is unchanged. The ruling is 69 pages long and it was received this afternoon. We view this as a temporary setback and we are reviewing the decision carefully to determine the best path forward for this project. Coal continues to be an important and essential part of a reliable, low-cost energy portfolio for the future as evidenced by progress made recently on other plants across the nation.
-----
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Thursday, October 28, 2010
Atlanta Gas Light's Residential Rates to Increase 90 Cents per Month
/PRNewswire/-- Following a 4-1 vote October 27 by the Georgia Public Service Commission (PSC), residential customers of Atlanta Gas Light will receive a 90-cent monthly net increase in service rates effective November 1. The adjustment, the first base rate increase for the company since 1993, equates to an overall increase of one percent for the typical residential customer's annual natural gas bill. The adjustment will be reflected in the monthly Atlanta Gas Light charges as billed by certificated gas marketers to customers.
After weighing evidence and hearing testimony during the last six months, the PSC concluded that a $26.7 million increase in the company's revenue requirement was warranted to provide the company with sufficient revenue to meet reasonable expenses, pay interest on debt, continue to attract capital at favorable rates and provide a reasonable return to shareholders in order to continue to attract investment. The company originally sought $54.2 million in additional revenues in its case filed May 3, 2010, before adjusting the amount in October to $48.2 million to reflect more current economic conditions.
The company expects a final written order to be issued within the next 30 days, at which time parties to the case have 10 days to file for reconsideration of the decision with the PSC.
"Although we made a strong case for a larger revenue requirement to fund our service obligations, we recognize the economic climate weighed heavily on the commission as it worked to find the right balance for the company, our customers and shareholders," said Suzanne Sitherwood, president, Atlanta Gas Light.
"It is never an easy decision to increase rates, particularly in a difficult economy," Sitherwood said. "However, the action by the PSC provides necessary revenues to sustain our operations and meet the growing demands for compliance and safety work, while improving our customer service levels."
The PSC also approved a rate-design change that closes the cost-of-service gap between residential and commercial customers. Small commercial customers with a Designated Design Day Capacity (DDDC) factor of less than 7.0, which includes approximately 82% of all commercial customers, will see no rate increase or a small decrease. Large commercial customers will receive a monthly increase in their total bill similar in percentage to that of residential customers. In addition, monthly rates charged to agricultural customers will be reduced by $73 on average, particularly to bring poultry growers' rates more in line with general commercial accounts and help them better manage peak costs during winter.
The company also was ordered to investigate whether additional senior citizens might be eligible to participate in Atlanta Gas Light's senior discount program. Individuals age 65 or older with annual income of $14,355 or less are eligible to receive a monthly discount of up to $14.00.
Other details and provisions of the decision include:
* Acceptance of a revenue requirement of approximately $450 million, which equates to an unadjusted increase of approximately $1.46 per residential customer.
* Two changes in the company's surcharges totaling approximately $12.1 million annually, which will offset the impact of the rate increase by approximately 56 cents per month on the customer's monthly bill. This includes a temporary shift of $6.5 million from the Universal Service Fund to fund the Senior Citizen Discount Program, and acceptance of an October filing by Atlanta Gas Light to reduce the environmental cost recovery surcharge rate for an annual reduction of $5.6 million.
* Established an authorized return on equity of 10.75 percent, which is within the estimated range of 10.5 percent to 11.25 percent recommended by the company.
* Approval of a capital structure for the company of 51 percent common equity, 44.63 percent long-term debt and 4.37 percent short-term debt.
* A return to a traditional method of calculating depreciation expense using net value methodology with a salvage rate of negative 30 percent.
* Approval of an in-home appliance repair program that permits Atlanta Gas Light service technicians to perform minor repairs of low cost and short duration when responding to the home for other purposes, while providing referrals to Natural Gas Advantage Dealer companies for more substantial repairs or appliance replacements.
* Funding of the new Customer Care Center in Riverdale, Georgia, to better handle customer issues and support 74 new jobs in Georgia.
* Increase the number of service technicians on staff to make them available to reduce the average time to establish service and fulfill other customer orders from five business days to three.
* Adoption of a new acquisition synergy sharing policy that is expected to hold down future operating expenses by incentivizing the company to make prudent utility acquisitions that capture savings for customers while insulating them from risk of increased costs from such transactions. Customers will share equally in any savings from future transactions after the company demonstrates savings through a future proceeding.
* Allocation of $4.4 million in annual revenue to the company to recognize equitable treatment of current and ongoing savings produced from the acquisition by AGL Resources of NUI Corporation. Evidence in the case demonstrated that since 2005 approximately $150 million in savings were generated from previous acquisitions which were applied to reduce Atlanta Gas Light's operating expenses.
* Improvements to technology systems intended to provide quicker response times and greater capacity to perform additional marketer and customer services.
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After weighing evidence and hearing testimony during the last six months, the PSC concluded that a $26.7 million increase in the company's revenue requirement was warranted to provide the company with sufficient revenue to meet reasonable expenses, pay interest on debt, continue to attract capital at favorable rates and provide a reasonable return to shareholders in order to continue to attract investment. The company originally sought $54.2 million in additional revenues in its case filed May 3, 2010, before adjusting the amount in October to $48.2 million to reflect more current economic conditions.
The company expects a final written order to be issued within the next 30 days, at which time parties to the case have 10 days to file for reconsideration of the decision with the PSC.
"Although we made a strong case for a larger revenue requirement to fund our service obligations, we recognize the economic climate weighed heavily on the commission as it worked to find the right balance for the company, our customers and shareholders," said Suzanne Sitherwood, president, Atlanta Gas Light.
"It is never an easy decision to increase rates, particularly in a difficult economy," Sitherwood said. "However, the action by the PSC provides necessary revenues to sustain our operations and meet the growing demands for compliance and safety work, while improving our customer service levels."
The PSC also approved a rate-design change that closes the cost-of-service gap between residential and commercial customers. Small commercial customers with a Designated Design Day Capacity (DDDC) factor of less than 7.0, which includes approximately 82% of all commercial customers, will see no rate increase or a small decrease. Large commercial customers will receive a monthly increase in their total bill similar in percentage to that of residential customers. In addition, monthly rates charged to agricultural customers will be reduced by $73 on average, particularly to bring poultry growers' rates more in line with general commercial accounts and help them better manage peak costs during winter.
The company also was ordered to investigate whether additional senior citizens might be eligible to participate in Atlanta Gas Light's senior discount program. Individuals age 65 or older with annual income of $14,355 or less are eligible to receive a monthly discount of up to $14.00.
Other details and provisions of the decision include:
* Acceptance of a revenue requirement of approximately $450 million, which equates to an unadjusted increase of approximately $1.46 per residential customer.
* Two changes in the company's surcharges totaling approximately $12.1 million annually, which will offset the impact of the rate increase by approximately 56 cents per month on the customer's monthly bill. This includes a temporary shift of $6.5 million from the Universal Service Fund to fund the Senior Citizen Discount Program, and acceptance of an October filing by Atlanta Gas Light to reduce the environmental cost recovery surcharge rate for an annual reduction of $5.6 million.
* Established an authorized return on equity of 10.75 percent, which is within the estimated range of 10.5 percent to 11.25 percent recommended by the company.
* Approval of a capital structure for the company of 51 percent common equity, 44.63 percent long-term debt and 4.37 percent short-term debt.
* A return to a traditional method of calculating depreciation expense using net value methodology with a salvage rate of negative 30 percent.
* Approval of an in-home appliance repair program that permits Atlanta Gas Light service technicians to perform minor repairs of low cost and short duration when responding to the home for other purposes, while providing referrals to Natural Gas Advantage Dealer companies for more substantial repairs or appliance replacements.
* Funding of the new Customer Care Center in Riverdale, Georgia, to better handle customer issues and support 74 new jobs in Georgia.
* Increase the number of service technicians on staff to make them available to reduce the average time to establish service and fulfill other customer orders from five business days to three.
* Adoption of a new acquisition synergy sharing policy that is expected to hold down future operating expenses by incentivizing the company to make prudent utility acquisitions that capture savings for customers while insulating them from risk of increased costs from such transactions. Customers will share equally in any savings from future transactions after the company demonstrates savings through a future proceeding.
* Allocation of $4.4 million in annual revenue to the company to recognize equitable treatment of current and ongoing savings produced from the acquisition by AGL Resources of NUI Corporation. Evidence in the case demonstrated that since 2005 approximately $150 million in savings were generated from previous acquisitions which were applied to reduce Atlanta Gas Light's operating expenses.
* Improvements to technology systems intended to provide quicker response times and greater capacity to perform additional marketer and customer services.
-----
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Wednesday, October 27, 2010
J.D. Power and Associates Reports: Future Global Market Demand for Hybrid and Battery Electric Vehicles May Be Over-Hyped; Wild Card is China
/PRNewswire/ -- Combined global sales of hybrid electric vehicles (HEVs) and battery electric vehicles (BEVs) are expected to total 5.2 million units in 2020, or just 7.3 percent of the 70.9 million passenger vehicles forecasted to be sold worldwide by that year, according to a report issued by J.D. Power and Associates. For comparison, global HEV and BEV sales in 2010 are forecasted to total 954,500 vehicles, or 2.2 percent of the 44.7 million vehicles projected to be sold through the end of 2010.
The report, titled "Drive Green 2020: More Hope than Reality" considers various factors affecting the future potential for "green" vehicles in the world's largest automotive markets. These factors include market trends, regulatory environment, consumer sentiment and technology development in these markets.
According to the report, it will be difficult to convince large numbers of consumers to switch from conventionally powered passenger vehicles to HEVs and BEVs. A consumer migration to alternative powertrain technologies will most likely require either one of the following scenarios, or some combination of these scenarios:
* A significant increase in the global price of petroleum-based fuels by 2020
* A substantial breakthrough in green technologies that would reduce costs and improve consumer confidence
* A coordinated government policy to encourage consumers to purchase these vehicles.
Based on currently available information, none of these scenarios are believed to be likely during the next 10 years.
"While considerable interest exists among governments, media and environmentalists in promoting HEVs and BEVs, consumers will ultimately decide whether these vehicles are commercially successful or not," said John Humphrey, senior vice president of automotive operations at J.D. Power and Associates. "Based on our research of consumer attitudes toward these technologies—and barring significant changes to public policy, including tax incentives and higher fuel economy standards—we don't anticipate a mass migration to green vehicles in the coming decade."
Consumer Sentiment about HEVs and BEVs
Consumers have a variety of concerns about HEVs and BEVs, including:
* Dislike of their look/design
* Worries about the reliability of new technologies
* Dissatisfaction with overall power and performance
* Anxiety about driving range
* Concern about the time needed to recharge battery packs
More importantly, however, are the personal financial implications of deciding to purchase an alternative-energy vehicle. While many consumers around the world say they are interested in HEVs and BEVs for the expected fuel savings and positive environmental impact they provide, their interest declines significantly when they learn of the price premium that comes with purchasing these vehicles.
"Many consumers say they are concerned about the environment, but when they find out how much a green vehicle is going to cost, their altruistic inclination declines considerably," said Humphrey. "For example, among consumers in the U.S. who initially say they are interested in buying a hybrid vehicle, the number declines by some 50 percent when they learn of the extra $5,000, on average, it would cost to acquire the vehicle."
The overall cost of ownership of HEVs and BEVs over the life of the vehicle is also not entirely clear to consumers, and there is still much confusion about how long one would have to own such a vehicle to realize cost savings on fuel, compared with a vehicle powered by a conventional internal combustion engine (ICE). The resale value of HEVs and BEVs, as well as the cost of replacing depleted battery packs, are other financial considerations that weigh heavily on consumers' minds.
Finally, it is clear from research in the world's largest automotive markets that buyers of hybrid and electric vehicles occupy a unique demographic niche. Buyers of HEVs and BEVs are generally older, more highly educated (possessing a postgraduate degree), high-income individuals who have a deep interest in technology, or who like to be among the early adopters of any new technology product. As a result, it is not clear that HEVs and BEVs will appeal to the general population.
Government Regulations
While the governments of the world's largest automotive-producing nations have schedules in place for improving fuel economy and reducing exhaust emissions, there is little consensus about the timing or manner in which these objectives are to be achieved. Some governments are promoting HEVs, others are focusing on BEVs, and still others are considering additional options.
According to Humphrey, the lack of consistency in regulations across markets is causing global automakers to hedge their options by seeking alliances and technology-sharing agreements. The heavy fixed costs associated with developing multiple powertrain options simultaneously are prohibitively expensive. When combined with the projected lower sales volumes of these products, collaboration between auto companies is almost a necessity to control costs and remain competitive.
One unpredictable aspect of the 2020 outlook is how markets would be affected if more stringent and consistent legislation is adopted that supports specific technologies. In particular, China has the ability to move quickly, invest heavily in the development of one specific propulsion technology, and mandate fuel economy or emissions standards that could favor a particular technology or require a minimum sales penetration level for vehicles with a designated technology. Given the size and growth rate of the Chinese auto market, such a coordinated regulatory environment might allow Chinese companies to achieve economies of scale and drive down the cost of alternative-energy vehicles.
Technology
While HEVs and BEVs offer an interesting alternative for the future, it must be acknowledged that many of the shortcomings that defined battery-based vehicles 100 years ago are still prevalent today. These include limited driving range, extended recharging times, limited support infrastructure, and the high cost of battery packs.
Moreover, while reducing exhaust emissions was not an important factor in the development of battery-based vehicles 100 years ago, it has been a significant driver behind the development of BEVs today. For many governments, the primary goal of transitioning to alternative powertrains is to reduce exhaust emissions, and it is not clear how much of this can be achieved.
"We don't want to replace tailpipe emissions with the emissions of coal- and oil-fired power plants that produce the electricity used by BEVs," said Humphrey. "We have to look at the carbon footprint of the entire energy supply chain."
Breakdown of Global HEV and BEV Sales by 2020
Of the 5.2 million HEVs and BEVs forecasted to be sold worldwide in 2020, some 3.9 million units are expected to be HEVs, according to the J.D. Power and Associates global forecast numbers for the third-quarter of 2010. The leading markets for HEVs are the United States (1.7 million units), Europe (977,000 units), and Japan (875,000 units). China is expected to sell fewer than 100,000 HEVs in 2020.
Of the 1.3 million BEVs projected to be sold worldwide in 2020, sales in Europe will account for 742,000 units; sales in China will account for 332,000 units; and the United States and Japan should each account for sales of approximately 100,000 BEVs in 2020.
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The report, titled "Drive Green 2020: More Hope than Reality" considers various factors affecting the future potential for "green" vehicles in the world's largest automotive markets. These factors include market trends, regulatory environment, consumer sentiment and technology development in these markets.
According to the report, it will be difficult to convince large numbers of consumers to switch from conventionally powered passenger vehicles to HEVs and BEVs. A consumer migration to alternative powertrain technologies will most likely require either one of the following scenarios, or some combination of these scenarios:
* A significant increase in the global price of petroleum-based fuels by 2020
* A substantial breakthrough in green technologies that would reduce costs and improve consumer confidence
* A coordinated government policy to encourage consumers to purchase these vehicles.
Based on currently available information, none of these scenarios are believed to be likely during the next 10 years.
"While considerable interest exists among governments, media and environmentalists in promoting HEVs and BEVs, consumers will ultimately decide whether these vehicles are commercially successful or not," said John Humphrey, senior vice president of automotive operations at J.D. Power and Associates. "Based on our research of consumer attitudes toward these technologies—and barring significant changes to public policy, including tax incentives and higher fuel economy standards—we don't anticipate a mass migration to green vehicles in the coming decade."
Consumer Sentiment about HEVs and BEVs
Consumers have a variety of concerns about HEVs and BEVs, including:
* Dislike of their look/design
* Worries about the reliability of new technologies
* Dissatisfaction with overall power and performance
* Anxiety about driving range
* Concern about the time needed to recharge battery packs
More importantly, however, are the personal financial implications of deciding to purchase an alternative-energy vehicle. While many consumers around the world say they are interested in HEVs and BEVs for the expected fuel savings and positive environmental impact they provide, their interest declines significantly when they learn of the price premium that comes with purchasing these vehicles.
"Many consumers say they are concerned about the environment, but when they find out how much a green vehicle is going to cost, their altruistic inclination declines considerably," said Humphrey. "For example, among consumers in the U.S. who initially say they are interested in buying a hybrid vehicle, the number declines by some 50 percent when they learn of the extra $5,000, on average, it would cost to acquire the vehicle."
The overall cost of ownership of HEVs and BEVs over the life of the vehicle is also not entirely clear to consumers, and there is still much confusion about how long one would have to own such a vehicle to realize cost savings on fuel, compared with a vehicle powered by a conventional internal combustion engine (ICE). The resale value of HEVs and BEVs, as well as the cost of replacing depleted battery packs, are other financial considerations that weigh heavily on consumers' minds.
Finally, it is clear from research in the world's largest automotive markets that buyers of hybrid and electric vehicles occupy a unique demographic niche. Buyers of HEVs and BEVs are generally older, more highly educated (possessing a postgraduate degree), high-income individuals who have a deep interest in technology, or who like to be among the early adopters of any new technology product. As a result, it is not clear that HEVs and BEVs will appeal to the general population.
Government Regulations
While the governments of the world's largest automotive-producing nations have schedules in place for improving fuel economy and reducing exhaust emissions, there is little consensus about the timing or manner in which these objectives are to be achieved. Some governments are promoting HEVs, others are focusing on BEVs, and still others are considering additional options.
According to Humphrey, the lack of consistency in regulations across markets is causing global automakers to hedge their options by seeking alliances and technology-sharing agreements. The heavy fixed costs associated with developing multiple powertrain options simultaneously are prohibitively expensive. When combined with the projected lower sales volumes of these products, collaboration between auto companies is almost a necessity to control costs and remain competitive.
One unpredictable aspect of the 2020 outlook is how markets would be affected if more stringent and consistent legislation is adopted that supports specific technologies. In particular, China has the ability to move quickly, invest heavily in the development of one specific propulsion technology, and mandate fuel economy or emissions standards that could favor a particular technology or require a minimum sales penetration level for vehicles with a designated technology. Given the size and growth rate of the Chinese auto market, such a coordinated regulatory environment might allow Chinese companies to achieve economies of scale and drive down the cost of alternative-energy vehicles.
Technology
While HEVs and BEVs offer an interesting alternative for the future, it must be acknowledged that many of the shortcomings that defined battery-based vehicles 100 years ago are still prevalent today. These include limited driving range, extended recharging times, limited support infrastructure, and the high cost of battery packs.
Moreover, while reducing exhaust emissions was not an important factor in the development of battery-based vehicles 100 years ago, it has been a significant driver behind the development of BEVs today. For many governments, the primary goal of transitioning to alternative powertrains is to reduce exhaust emissions, and it is not clear how much of this can be achieved.
"We don't want to replace tailpipe emissions with the emissions of coal- and oil-fired power plants that produce the electricity used by BEVs," said Humphrey. "We have to look at the carbon footprint of the entire energy supply chain."
Breakdown of Global HEV and BEV Sales by 2020
Of the 5.2 million HEVs and BEVs forecasted to be sold worldwide in 2020, some 3.9 million units are expected to be HEVs, according to the J.D. Power and Associates global forecast numbers for the third-quarter of 2010. The leading markets for HEVs are the United States (1.7 million units), Europe (977,000 units), and Japan (875,000 units). China is expected to sell fewer than 100,000 HEVs in 2020.
Of the 1.3 million BEVs projected to be sold worldwide in 2020, sales in Europe will account for 742,000 units; sales in China will account for 332,000 units; and the United States and Japan should each account for sales of approximately 100,000 BEVs in 2020.
-----
Community News You Can Use
Click to read MORE news:
www.GeorgiaFrontPage.com
Twitter: @gafrontpage & @TheGATable @HookedonHistory
www.ArtsAcrossGeorgia.com
Twitter: @artsacrossga, @softnblue, @RimbomboAAG
www.FayetteFrontPage.com
Twitter: @FayetteFP
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