Tag Archives: PJM

AES Marks Energy Storage Milestone with 400,000 MW-h of PJM Service from Laurel Mountain

By Business Wirevia The Motley Fool

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AES Marks Energy Storage Milestone with 400,000 MW-h of PJM Service from Laurel Mountain

64 MW Storage Resource Outperforming Generators; Providing Cost-Effective, Emissions-Free Flexibility Daily into Nation’s Largest Power System

ELKINS, W. Va.–(BUSINESS WIRE)– AES today announced a milestone in the energy storage industry as its AES Laurel Mountain facility surpassed the 400,000 MW-h mark of regulation service to the PJM Interconnection. Laurel Mountain, a plant comprised of 98 MW of wind generation and 64 MW of integrated battery-based energy storage resource, has entered its second year of continuous service supplying emissions-free renewable energy and clean, flexible, regulation service to PJM. AES Laurel Mountain is among the first wind generation facilities to supply critical grid stability services to help maintain the reliability of the power grid. The storage portion of the project is the largest of its kind.

The facility, which began operation in October 2011, provides a significant economic benefit to customers within the PJM electric power market. For more than a year and a half it has consistently been selected for regulation service from among competitively bid offerings in the power market, serving as a lower cost, better performing, zero-emissions, renewable energy alternative to traditional power generation for this service.

“As the largest grid operator in North America, PJM considers energy storage vital to the reliable operation of the electric system of the future,” said PJM President and CEO Terry Boston. “As with any resource that participates in our electricity market, the AES Laurel Mountain storage facility is proving its worth under real-world conditions.”

The energy storage facility provides fast response regulation, a critical reliability service typically supplied by power generators, but at higher levels of performance. Since the project began service on September 30, 2011, it has supplied over 400,000 MW-h of regulation service to PJM and achieved a service factor better than 98 percent.

AES Laurel Mountain has allowed PJM to unlock value at the system level by drawing on AES‘ extensive experience in advanced energy storage and the power industry,” said Chris Shelton, President of AES Energy Storage. “Utilities and system operators targeting reliability and resource adequacy can choose AES‘ advanced storage arrays as sustainable, scalable tools.”

The unit’s ability to regulate up and down, by charging and discharging stored energy, enables an operating range of 64 MW of flexible capacity with no minimum generating level. To achieve a similar flexible operating capability, a thermal power generator

From: http://www.dailyfinance.com/2013/04/11/aes-marks-energy-storage-milestone-with-400000-mw-/

Dynegy to Acquire Ameren Energy Resources, Expanding Illinois Portfolio

By Business Wirevia The Motley Fool

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Dynegy to Acquire Ameren Energy Resources, Expanding Illinois Portfolio

Transaction highlights:

  • Dynegy to acquire 4,119 MW of generation and AER‘s marketing and Homefield Energy retail businesses through Illinois Power Holdings, a newly formed, non-recourse subsidiary (with the exception of a $25 million limited guarantee)
  • Ameren, through the Genco put option, to purchase 1,166 MW of gas-fired generation from Genco prior to closing for a minimum of $133 million
  • No cash consideration for the acquisition of AER and its consolidated subsidiaries; $825 million in existing Genco debt remains a Genco obligation
  • AER and consolidated subsidiaries to be transferred at closing with $226 million in cash, $160 million in working capital, and two years of credit support from Ameren
  • More than $60 million of expected annual synergies by 2015
  • Existing transmission rights to PJM to remain in place
  • Expected to be accretive to Adjusted EBITDA in 2014 and Free Cash Flow by 2015

HOUSTON–(BUSINESS WIRE)– Dynegy Inc. (NYS: DYN) and Ameren (NYS: AEE) announced today they have signed a definitive agreement under which Dynegy’s subsidiary Illinois Power Holdings, LLC (IPH) will acquire Ameren’s subsidiary, Ameren Energy Resources (AER) and its subsidiaries Ameren Energy Generating Company (Genco), AmerenEnergy Resources Generating Company (AERG), and Ameren Energy Marketing Company (AEM). Upon closing, Dynegy will own more than 8,000 megawatts (MW) of generating capacity in Illinois, and nearly 14,000 MW nationally. The AER retail and marketing businesses and the following plants are included in the transaction: Duck Creek, Coffeen, E.D. Edwards, Newton, and Joppa.

“The acquisition of AER is expected to create significant value for Dynegy shareholders by building upon our existing scale in one of our key markets with assets similar to our Illinois-based CoalCo portfolio. We are uniquely positioned to create significant synergies that will benefit AER and our CoalCo and GasCo businesses. AEM also brings to Dynegy an established retail business with significant scale that complements both portfolios,” said Robert C. Flexon, Dynegy President …read more
Source: FULL ARTICLE at DailyFinance