By Local Memphis News:
The Memphis Light Gas & Water (MLGW) board decided to reject the long-term agreement with power supplier TVA. “The deal – if approved – would have included a 3.1% base rate decrease, but a TVA spokesperson said since the deal was rejected, the company is committed to holding rates steady for the next decade, following the past four years of no rate increases.
‘We are just so excited that we broke through on this issue,’ Protect Our Aquifer Executive Director Sarah Houston added. ‘We have been adamant for months that TVA’s never-ending contract is a bad deal for Memphis.’ “
By Renewable Energy World:
The Federal Energy Regulatory Commission (FERC) issued “new mandatory standards for inverter-based resources (IBRs) in an effort to enhance the reliability of the bulk electric system. IBRs are solar photovoltaic, wind, fuel cell and battery storage resources that use power electronic devices to change direct current power to alternating current power, to be transmitted on the bulk-power system.
In its November 17 action orders, FERC focused on three IBR-relateded actions:
- An order directing the North American Electric Reliability Corp. (NERC) to develop a plan to register the entities that own and operate IBRs;
- A Notice of Proposed Rulemaking to direct NERC to develop reliability standards for IBRs that cover data sharing, model validation, planning and operational studies, and performance requirements; and
- An order approving reliability standards that are related to IBRs, which NERC proposed earlier in 2022.”
The New York Independent System Operator (NYISO) reported that “the grid operator’s extreme winter weather scenario shows that peak demand could increase to as much as 26,086 MW, higher than its previous all-time winter peak.
NYISO repeated its earlier warning that it expects a sharp rise in wholesale electricity prices, and in consumer bills, this winter due to lingering impacts of the pandemic and Russia’s invasion of Ukraine.
The U.S. Energy Information Administration projected that the price of natural gas delivered to electric generators would average $8.81/MMBtu this summer, up from $3.93/MMBtu in 2021.”