Natural gas-fired power project clears PJM auction
http://www.power-eng.com/articles/2015/08/natural-gas-fired-power-project-clears-pjm-auction.html?cmpid=enl-poe-weekly-august-24-2015&eid=294715858&bid=1160195
PSEG Power said that its planned 540-MW natural gas-fired combined-cycle power plant cleared PJM’s Reliability Pricing Model Base Residual Auction.
The $600 million Sewaren 7 project is scheduled to begin construction on early 2016 and be completed in summer 2018. It will be built at the existing Sewaren Generating Station in New Jersey, and will replace units 1-4, which will be retired after almost 70 years of operation. The plant will run on natural gas and ultra-low-sulfur distillate fuel oil as a back up.
$119.77 to $164.77 a 35% increase in one year, thanks Obama!