FERC approves partial sale of interest in Astoria Energy gas plant

The Federal Energy Regulatory Commission on Sept. 12 signed off on the sale of part of the indirect equity interests in a 540-MW power plant in New York by a GDF SUEZ Energy North America affiliate to MyPower Corp. out of Japan.

On Aug. 5, Astoria Energy LLC had requested commission authorization for the disposition of jurisdictional facilities resulting from SUEZ Energy Astoria LLC’s (SUEZ Astoria) transfer of indirect equity interests in Astoria Energy to MyPower Corp. The jurisdictional facilities involved are interconnection facilities, Astoria Energy’s market-based rate tariff, associated contracts, books and records.

Astoria Energy owns and operates a natural gas-fired plant in Astoria Queens, New York City. The Astoria Energy facility is interconnected with the New York City submarket (Zone J) of the New York Independent System Operator (NYISO).

The Astoria Energy Facility presently exhibits a maximum nominal electric power production and delivery capacity of approximately 540 MW. Astoria Energy has market-based rate authority and is an exempt wholesale generator (EWG).

Astoria Energy sells nearly all of the capacity from its facility at market-based rates to Consolidated Edison Co. of New York (ConEd) under a long-term power purchase contract. Astoria Energy may at times sell small quantities of surplus electricity into the NYISO market, but ConEd identifies all of the Astoria Energy Facility’s existing capacity as a ConEd resource. ConEd provides the Astoria Energy Facility with interconnection service into the NYISO grid.

Astoria Energy makes no sales outside of the NYISO market and is not interconnected outside of the NYISO Zone J submarket.

SUEZ Astoria is an indirect, wholly-owned subsidiary of GDF SUEZ Energy North America, which owns direct and indirect interests in energy facilities in the U.S., Canada, and Mexico. GDF SUEZ is an indirect, wholly-owned subsidiary of GDF SUEZ S.A., a French société anonyme listed on the Brussels, Luxembourg, and Paris stock exchanges.

MyPower is wholly-owned by Mitsui & Co., Ltd., a global company with headquarters in Tokyo, Japan.

Astoria Energy stated that as a result of the proposed transaction, MyPower will acquire approximately 20.6% of the equity interests in Astoria Project Partners LLC, which owns Astoria Energy.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.