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An “influx of jellyfish” caused Diablo Canyon nuclear power plant unit 2 to shut down Oct. 21. Control rods to stop nuclear fission were inserted “as designed,” according to the Nuclear Regulatory Commission. Unit 1’s power was reduced to 50% production. The plant’s steam generators made “10% steam dumps to atmosphere,” according to the report. The facility is owned by PG&E. Energy traders’ allowable unsecured credit could decline from $250 million to $150 million if a California Independent System Operator staff proposal is adopted. The issue is set for discussion Oct. 27. Stakeholders oppose the new cap. If the decline is adopted, it still has to be approved by the Federal Energy Regulatory Commission. California will enjoy a better economy if it controls greenhouse gases, concluded a study released Oct. 20 by the Palo Alto public affairs group Next 10. Achieving 100 percent of the greenhouse gas emissions reduction targets mandated by AB 32 would increase the gross state product by $76 billion, boost real household incomes by up to $48 billion, and create as many as 403,000 new efficiency and climate action driven jobs. It would build on the state’s historical energy efficiency policies, which already have created 1.5 million jobs with a total payroll of over $45 billion and saved California consumers over $56 billion on energy costs, the report said. The state signed a deal Oct. 21 with SunEdison to provide 8 MW of solar photovotalic power at 15 California State University campuses. “This partnership is a good deal for the state, the planet and our economy--all at no cost to taxpayers,” stated Governor Schwarzenegger. The first year, 12 million kWh are supposed to be delivered--representing about five percent of the CSU system’s yearly energy demand. The contract is expected to offset about 9,485 metric tons of carbon dioxide--the equivalent of removing 48,937 cars from the road Long-awaited analyses likely to determine which fuels qualify as low carbon transportation fuels in California are due next month. The data--which are to outline the “life-cycle” emissions of various fuels from their production to their use in cars and trucks--are to cover such fuels as ethanol made from corn, biodiesel, and natural gas. Separate analyses for electricity and hydrogen as transportation fuels are to follow. Until the life-cycle analyses are completed, the low carbon fuel standard can not go forward. A key issue is whether using food crops to make biofuels, like ethanol, will trigger farmers to clear more land to grow replacement food. Clearing land, particularly by burning ground cover, releases CO2. SMUD requested offers Oct. 17 for 45,000 tons of carbon offsets to be delivered annually beginning in 2010. Proposals will be due mid- December 2008. Only in-state projects will qualify. Local projects are to be given preference, and in all cases, third party verification is required, according to SMUD. The muni plans to host a Bidders Conference and Carbon Offset Project Development Workshop Nov. 3. A decade has passed since many states restructured their energy markets, and increasing energy prices are causing a hard look at the reforms. A paper by the Department of Justice’s antitrust division released Oct. 21, discusses both successes and problems of restructured markets. “It appears that market restructuring is now producing significant tangible benefits in the areas of the country where it has been most fully implemented,” states the author of the DOJ’s Electricity Restructuring: What Has Worked, What Has Not, and What is Next? “Calls for the re-imposition of heavy-handed regulation should be resisted,” he asserts. New nuclear power plant liquidity requirements will be a key consideration in Standard & Poor’s credit analysis, according to an Oct. 21 S&P report. “The key consideration is the potential for long, safety-related outages at nuclear plants to create substantial liquidity needs. We believe that nuclear power projects will need large amounts of liquidity, unless the industry can maintain its operating track record of the past decade or so, during which capacity factors have risen to more than 90% from the low 70s, fuel outages are fewer and much shorter, and operating and maintenance expenses are down,” stated S&P credit analyst Swami Venkataraman.

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