Legalectric

There’s a piece in Finance & Commerce that should not go unnoticed:

Xcel study envisions $20B in electric lines by 2029

Oh how depressing, can it be? Things have been bubbling up, but I figured they’d get their corporate heads screwed on straight and figure out it’s not needed and it would go away.  Silly moi!

SMART Study Presentation – Final – 10-06-09

Here’s their site:

www.smartstudy.biz

Geiger’s report puts Xcel Energy in the drivers’ seat, but what I see is a list of the biggest coal companies around:

Sponsors

I’ll update this some more tomorrow — this is making me nauseous…

I’ve just by utter accident discovered a few things…

We all remember Byron Starns, attorney for Excelsior Energy’s Mesaba Project, the coal gasification project from hell.  Check his bio – CLICK HERE – he’s done some amazing things, that Reserve Mining case in particular.

Now let’s take a walk back on memory lane, the 2003 Prairie Island bill, where the “Environmental Coalition”, i.e., Izaak Walton League, MCEA, ME3/Fresh Energy, and Xcel and Tom Micheletti did a deal that advance wind some, let Xcel continue using Prairie Island and increased cask storage, and opened the door for Micheletti’s Excelsior Energy and their IGCC plant that they’d been promoting since the 2002 session.  On one hand, the “Environmental Coalition” including MCEA, in the middle we have Xcel, and on the other we have Tom Micheletti and Excelsior Energy…

Here’s the 2003 Prairie Island bill:

Minnesota Session Laws 2003 – 1st Special Session, Chapter 11

Here’s what it did for Mesaba (as if calling burning garbage “renewable” wasn’t enough):

Excelsior Energy Mesaba Project related parts of 2003 Chapter 11

When the Power Purchase Agreements for Excelsior Energy’s Mesaba Project came up at the PUC,  MCEA intervened, both as a party and representing others:

Petition to Intervene – MCEA – Waltons – Fresh Energy

To look at the full docket, go to www.puc.state.mn.us and “Search Dockets” and search for  PPA docket “05-1993” and Siting docket “06-668.”

And look who filed a Notice of Appearance for Excelsior Energy dated April 27, 2006:

Notice of Appearance – Byron Starns, et al – PPA Docket

And representing Excelsior Energy in the Siting Docket dated September 26, 2006:

Notice of Appearance – Byron Starns, et al – Siting Docket

And look who is noted in the MCEA Annual Reports as providing legal services to MCEA in 2005 and 2006, look in the fine print, why it’s Byron Starns!

MCEA Annual Report 2005

MCEA Annual Report 2006

Oh, but that’s not all, look who joins the Board of MCEA in 2007 … and remains through 2008… and 2009 according to his bio on the LSD site — why, it’s Byron Starns again!:

Board of Directors, Minnesota Center for Environmental Advocacy, 2007–2009 (linked)

2007 – MCEA’s IRS 990

2008 – MCEA’s IRS 990

His bio states he was on the MCEA board in 2009, but the 2009 IRS 990 does not list him as having been on it at reporting year end.

I just spoke with Byron Starns, who, with the forwarning to don his Kevlar vest, was kind enough to entertain a few questions, and said that (close to quotes but not quite):

MCEA has an ethical requirement, that everyone on the Board must make full disclosure of interests and conflicts, and that when issues do come up, anyone with a conflict has to leave the room.  He said he didn’t participate in any decisions related to energy matters for MCEA.  He does not recall if the fact that he was on MCEA’s board was disclosed in the Excelsior Energy Mesaba Project PPA or Siting dockets.  Also, he noted he is no longer on the Board of MCEA.

I don’t recall any disclosure about this — do you?

Is it “not a conflict” because MCEA’s interests and the interests of their “clients” the Waltons and Fresh Energy are so closely aligned with those of Excelsior Energy because of that 2003 agreement?

Really, this is their “site plan”

Remember LS Power’s proposal to build an 855MW gas plant by the Chisago County substation?  And Xcel’s Mikey Bull’s statement that Xcel isn’t going to be needing this power and isn’t going to be needing any power for a while?  There’s no Power Purchase Agreement in sight, no Certificate of Need application or Site Permit application to the PUC, but they do have a legislatively mandated utility personal property tax exemption thanks to Rep. Jeremy Kalin and Sen. Rick Olseen, and they do have a Development Agreement thanks to Lent Township and Chisago County, though they’ve yet to sign the Chisago County one…

And now they’ve got a lawsuit on their hands:

CRVC -Summons and Complaint

This was filed June 30 in Chisago County — Chisago County, Lent Townshiip and Sunrise River Energy, LLC have 20 days to file their Answer.

(Just looking for an excuse to trot out that pole-dancing bear!)

BEAR ALERT!!! Couldn’t happen to a more deserving company — Google Alert just sent me notice that one of my “favorite” companies is Zack’s “Bear of the Day!”  Why?  Well, they specifically mention that MAPP transmission project that just doesn’t seem to be needed:

Bear Of The Day: Pepco Holdings, Inc. (POM)

By Zacks Investment Research on June 30, 2010 |

Pepco’s (POM: 15.68 -0.11 -0.70%) $1.2 billion Mid-Atlantic Power Pathway (MAPP) transmission project could be delayed due to slower-than-expected load growth. The PJM Interconnection is expected to update the Regional Transmission Expansion Plan (RTEP) in June 2010 and a 1-2 year delay in the project is likely.

Pepco Holdings current trailing 12-month earnings multiple is 17.5, compared to the 21.0 average for the peer group and 18.7 for the S&P 500. Over the last five years, the company s shares have traded in a range of 7.4x to 22.6x trailing 12-month earnings. The trailing 12-month EV/EBITDA multiple is slightly above the industry average.

Check out their individual reports for other utilities and industries.  Let’s hear it for the capital market crash — ain’t the depression grand?!?!?!

How bad is it?  First the Indian River to Salem leg is cancelled, then the whole thing is suspended… and here we sit… waiting… and we all know that PJM demand is down the toilet.

Click here for the last RTEP Mid-Atlantic subcommittee presentation — see if you can download it!

CLICK HERE FOR LATEST TEAC PRESENTATION

And they opened an office and now they announce:

MAPP Office Hours Change

The MAPP Office, located at 828 Airpax Road, Suite B700, Cambridge, Md., has adjusted their hours to coincide with the present patronage of the office.  The new hours will be Mondays from 9 a.m. to 3 p.m., Wednesdays from 9 a.m. to 1 p.m. and Fridays from 9 a.m. to 1 p.m.  Evening hours are available upon request by calling 410-221-6207.

Meanwhile, we wait for the RTEP that just won’t come out.  How delayed can it get?  I guess all that backwards engineering to demonstrate need takes a while, eh?

How much did the “Partners for Affordable Energy” pay for this?  You can find them at www.powerofcoal.com and www.poweringourlives.com.

Here’s the revealing part, the very last paragraph:

Adding the Bemidji area is a new high-power transmission line from its facilities in North Dakota to Minnesota Power’s power plant at Cohasset. That line is in the permitting process now, and should be completed by 2012, Fee said.

The St.PPP picked up this “article” and yet omitted that closing truth:

Technology touted as solution for coal power

Here’s the Bemidji Pioneer article:

Published June 27 2010

Future energy needs still depend on coal

Research and development continues into clean-coal technologies for future power plants, say industry officials.

By: Brad Swenson, Bemidji Pioneer

Research and development continues into clean-coal technologies for future power plants, say industry officials.

Meanwhile, as environmental movements have stalled new coal plant construction, utilities will depend during the next 10 years more on natural gas-fired peaking plants, such as the second one planned at Solway, and wind generation.

“There has to be something for baseload generation – 24-hour power,” says Steve Van Dyke, spokesman for Partners for Affordable Energy, an industry coalition that supports the use of coal for energy production.

About 50 percent of the nation’s electricity comes from coal, he said. “If not coal, then what? What’s going to make up that volume of fossil fuel?”
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