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LCRA Seeks Arbitration in Wind Power Dispute
LCRA Seeks Arbitration in Wind Power Dispute
June 5, 2017
by Margarita Fournier, Copyright 2016 by Competitive Assets, LLC. All rights reserved
The Lower Colorado River Authority is seeking arbitration in a dispute to end its contract with a wind farm. As reported by the Austin American Statesman, LCRA “is asking a federal judge to force a wind farm near Corpus Christi to arbitrate with the LCRA over a contract dispute. The LCRA has been looking to end its contract with Papalote Creek Wind Farm since 2015, over falling wind energy prices. The contract requires the LCRA to buy energy from the wind farm at $64.75 per megawatt-hour, and wind power sells for less than half that price today. The LCRA is currently locked into an 18-year contract, which it signed in 2009. It plans to replace the power it would have bought from Papalote with its coal and natural gas plants, as well as buying power on the open market.”
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