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MEAG Power, JEA, and the City of Jacksonville Announce Settlement of Litigation and All Related Claims

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JEA, Northeast Florida’s community-owned electric provider, the City of Jacksonville, and the Municipal Electric Authority of Georgia (MEAG Power) have announced a settlement of all disputed issues relating to the new Units 3 and 4 of the Alvin W. Vogtle Electric Generating Plant (“Plant Vogtle”), and the Amended & Restated Power Purchase Agreement dated as of December 31, 2014 (the “Project J PPA”). [Read more…] about MEAG Power, JEA, and the City of Jacksonville Announce Settlement of Litigation and All Related Claims

Federal Court Upholds Vogtle Power Purchase Agreement Between MEAG Power and JEA

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U.S. District Judge Mark Cohen granted yesterday MEAG Power’s Motion for Judgment on the Pleadings, specifically declaring in bold print that the power purchase agreement (PPA) between JEA – the electric provider for the city of Jacksonville, Florida – and the Municipal Electric Authority of Georgia (MEAG Power) “is VALID AND ENFORCEABLE” and that “the PPA unconditionally requires JEA to pay MEAG for capacity and energy at the full cost of production of Project J, including debt service on the bonds and DOE-guaranteed loans”. [Read more…] about Federal Court Upholds Vogtle Power Purchase Agreement Between MEAG Power and JEA