ILLINOIS POLLUTION CONTROL BOARD
    IN THE MATTER OF:
    NATURAL GAS-FIRED, PEAK-LOAD
    ELECTRICAL POWER GENERATING
    FACILITIES (PEAKER PLANTS)
    )
    )
    )
    )
    )
    R01-10
    Testimony on Behalf of
    Commonwealth Edison Company
    Arlene A. Juracek, P.E.
    Vice President, Regulatory and Legislative Services
    Commonwealth Edison Company
    Steven T. Naumann, P.E.
    Transmission Services Vice President
    Commonwealth Edison Company
    August 16, 2000

    Testimony of Arlene A. Juracek and
    PCB Docket R01-10
    Steven T. Naumann on behalf of
    1
    Commonwealth Edison Company
    This testimony is submitted on behalf of Commonwealth Edison Company
    1
    (“ComEd”) by Arlene A. Juracek and Steven T. Naumann.
    2
    I, Arlene A. Juracek, am ComEd’s Vice President, Regulatory and Legislative
    3
    Services. I hold a Bachelor of Science in Mechanics/Mechanical and Aerospace
    4
    Engineering from Illinois Institute of Technology and a Masters of Management
    5
    from Northwestern University. I am a Registered Professional Engineer in the State
    6
    of Illinois. I have been employed by ComEd since 1972. During my employment, I
    7
    have held positions in nuclear station engineering, sales, division administration,
    8
    rates, market research, load forecasting and analysis and strategic analysis. I am
    9
    an officer of both ComEd and Unicom Corporation, ComEd’s parent company, and
    10
    I serve on the Unicom executive strategic advisory team.
    11
    My major duties are to provide executive oversight and direction of the
    12
    Distribution Pricing Department and the development and implementation of retail
    13
    open access in ComEd’s service territory, as well as state regulatory and legislative
    14
    activity. I am responsible for the development of ComEd’s retail regulated prices
    15
    and tariffs, including its delivery services tariffs, and for the development of the
    16
    business processes required to make open access work, including ComEd’s open
    17
    access implementation plan.
    18
    Apart from my ComEd duties, I serve as Chairperson of the Mount Prospect
    19
    Zoning Board of Appeals.
    20
    I, Steven T. Naumann, am Transmission Services Vice President of ComEd. I
    21
    hold a Bachelor of Science degree in Electric Power Engineering and a Master of
    22
    Engineering degree in Electric Power Engineering, both from Rensselaer
    23
    Polytechnic Institute in Troy, New York, and a J.D. degree from Chicago-Kent
    24

    Testimony of Arlene A. Juracek and
    PCB Docket R01-10
    Steven T. Naumann on behalf of
    2
    Commonwealth Edison Company
    College of Law. I am a Registered Professional Engineer in the State of Illinois. I
    25
    am also an attorney licensed to practice law in the State of Illinois.
    26
    After I received my Master’s degree in 1972, I served as an engineering
    27
    officer in the United States Air Force, assigned as the Base Electrical Engineer at
    28
    Reese Air Force Base, Texas. Upon leaving active duty in 1975, I joined ComEd
    29
    and have been continuously employed by ComEd since that time. At ComEd, I
    30
    have held positions in the System Planning Department, Interconnection Planning
    31
    Section, Wholesale Marketing Department, and Transmission and Distribution
    32
    (T&D) Regulatory Services Department. I have held temporary assignments with
    33
    the Mid-America Interconnected Network (MAIN), the regional reliability council
    34
    responsible for much of the Midwest, first as Assistant Systems Power Coordinator
    35
    and later as Systems Power Coordinator.
    36
    My responsibilities include managing the Transmission Services Group, as
    37
    well as serving on industry committees and task forces such as the Market
    38
    Interface Committee of the North American Electric Reliability Council and the
    39
    MAIN Dispute Resolution Committee. My area is responsible for all filings with the
    40
    Federal Energy Regulatory Commission, or FERC, administration of ComEd’s Open
    41
    Access Transmission Tariff, interfacing with independent power producers
    42
    regarding interconnection with ComEd’s system, training of ComEd personnel on
    43
    the Standards of Conduct implementing FERC Order No. 889 and implementation
    44
    of restructuring at the federal level, such as the implementation of a multi-utility
    45
    regional transmission organization.
    46
    We are submitting this testimony jointly as a panel. While we are both
    47
    knowledgeable about many of the details of ComEd’s role in the restructured
    48
    electric industry, appearing together allows us to pool our knowledge of the issues
    49

    Testimony of Arlene A. Juracek and
    PCB Docket R01-10
    Steven T. Naumann on behalf of
    3
    Commonwealth Edison Company
    and efficiently respond to any questions that might be raised. We appreciate the
    50
    opportunity to present this background information on how peaking plants fit into
    51
    the restructured electric industry.
    52
    Background on Electric Power and ComEd
    53
    Electric power is not readily stored, and is transmitted through the network
    54
    of wires from generator to end user essentially instantaneously. When a customer
    55
    turns on an electric light or appliance, sufficient power for that device must be
    56
    generated somewhere on the grid at that moment. Electric power, whether the
    57
    amount needed to run one appliance, or the total amount of power demanded by
    58
    ComEd’s customers at a given moment, is measured in watts. Where the quantity
    59
    is large, we use the term megawatts, or millions of watts. We refer to the aggregate
    60
    demand of all of ComEd’s customers at a particular moment as the load at that
    61
    time.
    62
    The aggregate load of customers in ComEd’s service territory varies
    63
    considerably over the course of a day and over the course of a year. The lowest
    64
    continuous load observed over the course a year is known as the base load; the
    65
    highest load observed during a period of time is the peak load for that period. In
    66
    ComEd’s service territory in modern times, the peak load for a year is always
    67
    during the summer, due to heavy air conditioning use. ComEd’s all-time summer
    68
    peak load was 21,243 megawatts on July 30, 1999 between 2:00 p.m. and 3:00
    69
    p.m. central time. By contrast, ComEd’s all-time peak load during a winter month
    70
    was 14,484 megawatts on December 20, 1999 between 5:00 p.m. and 6:00 p.m.
    71
    central time.
    72
    Base load generating plants are designed to operate more or less year round,
    73
    supplying an amount of electricity that is used even during periods of relatively
    74

    Testimony of Arlene A. Juracek and
    PCB Docket R01-10
    Steven T. Naumann on behalf of
    4
    Commonwealth Edison Company
    light load. Base load plants typically have high fixed costs and low operating costs
    75
    relative to other plants. It would be costly and inefficient to install base load
    76
    capacity able to produce 21,243 megawatts of electricity throughout the year in
    77
    ComEd’s territory, because in fact that peak amount of demand is only present for
    78
    one hour of the year. A peak load plant, or peaker, can be started relatively
    79
    quickly, and is designed to produce power only during times of heavy demand,
    80
    ranging from seasonal to hourly. Peakers have high hourly operating costs, but
    81
    low capital costs compared to base load plants. Because of this cost structure, it is
    82
    economical to supply peak load, in the relatively few hours required, using this
    83
    type of plant. To meet summer peak demand levels ComEd uses a combination of
    84
    power produced by base load plants and peakers, some owned and operated by
    85
    ComEd, some by merchant generators within ComEd’s territory, and some outside
    86
    ComEd’s territory, but connected to the interstate transmission grid.
    87
    ComEd is a public utility regulated by the Illinois Commerce Commission
    88
    under the Public Utilities Act. It is responsible for providing adequate, reliable, and
    89
    efficient electric service to nearly 3.5 million customers throughout northern
    90
    Illinois. ComEd currently owns and operates a fleet of five nuclear base load power
    91
    plants that are capable of producing, altogether, about 9,500 megawatts of power
    92
    at any one time. ComEd also owns and operates a network of high voltage
    93
    transmission lines and substations, which transfer power from generating stations
    94
    or from other networks to local areas of load and to other networks. ComEd also
    95
    owns and operates a system of local distribution lines and substations that carry
    96
    power to ComEd’s customers. Attachment A to our testimony is a map of ComEd’s
    97
    transmission system, along with the major power plants located in ComEd’s area.
    98
    Attachment B is a map produced by the Illinois Commerce Commission showing
    99

    Testimony of Arlene A. Juracek and
    PCB Docket R01-10
    Steven T. Naumann on behalf of
    5
    Commonwealth Edison Company
    the major transmission lines, power plants, and utility service territories in Illinois.
    100
    Attachment C is a map showing the major transmission lines, substations, and
    101
    power plants in the neighboring area that interconnects with ComEd’s system.
    102
    Restructuring of the Electric Industry
    103
    We will refer throughout our testimony to the “restructuring” of the electric
    104
    industry. In the traditional electric industry, before this restructuring, electric
    105
    power was generated, transmitted, and distributed to customers as a single
    106
    bundled product by a regulated, vertically integrated monopoly, at rates approved
    107
    by a state commission based on the utility’s cost of providing the service. In the
    108
    restructured industry, a customer’s generation, transmission and distribution may
    109
    be supplied by different companies. Generation, in particular, is becoming a
    110
    competitive industry, and market forces — supply and demand — will set energy
    111
    rates. Companies other than utilities may sell power at retail to customers, who
    112
    will be able to choose among several suppliers. In almost all cases, however,
    113
    ComEd will continue to deliver the electricity to the customers in its territory, using
    114
    its network of transmission lines and distribution facilities.
    115
    Federal Aspects of Restructuring
    116
    The federal aspects of restructuring have, of course, focussed on the
    117
    interstate aspects of the new power markets. In its landmark Order No. 888, the
    118
    FERC required transmission owners to open their networks on a nondiscriminatory
    119
    basis to wholesale transactions using the transmission system. Promoting
    120
    Wholesale Competition Through Open Access Non-discriminatory Transmission
    121
    Services by Public Utilities and Recovery of Stranded Costs by Public Utilities and
    122
    Transmitting Utilities, Order No. 888 (“Order 888”), FERC Statutes and
    123
    Regulations, Regulations Preambles January 1991 – June 1996 ¶ 31,036 (1996),
    124

    Testimony of Arlene A. Juracek and
    PCB Docket R01-10
    Steven T. Naumann on behalf of
    6
    Commonwealth Edison Company
    order on reh’g
    , Order No. 888-A, III FERC Statutes and Regulations, Regulations,
    125
    Preambles ¶ 31,048 (1997),
    order on reh’g
    , Order No. 888-B, 81 F.E.R.C. ¶ 61,248
    126
    (1997),
    order on
     
    reh’g,
    Order No. 888-C, 82 F.E.R.C. ¶ 61,046 (1998).
    127
    Transmission owners like ComEd have filed open-access transmission tariffs that
    128
    allow interstate transmission of power by wholesale sellers, including operators of
    129
    merchant power plants. FERC has held that interconnection service is a type of
    130
    transmission service covered by Order 888 and thus, ComEd is required to make
    131
    reasonable efforts to interconnect its transmission and distribution systems with
    132
    new generation sources.
    133
    Accordingly, ComEd has pursued a policy of nondiscriminatory cooperation
    134
    with independent power producers wishing to locate in Northern Illinois and
    135
    interconnect with ComEd’s system. Because one project may, if successfully
    136
    brought on line, affect the plans of future projects, ComEd maintains a queue
    137
    primarily based on the date of the developer’s initial interconnection request to
    138
    ComEd.
    1
    ComEd works with each interested developer to design an efficient and
    139
    reliable interconnection with ComEd’s grid.
    140
    Once the generation plant is interconnected and operational, ComEd’s
    141
    OASIS electronic bulletin board allows market participants to request the delivery
    142
    component of transmission service on ComEd’s network, which, if available,
    143
    enables the generator’s electric power to move onto the regional grid.
    144
    1
     
    These rules are set forth in ComEd’s Open Access Transmission Tariff, Attachment K, and
    are regulated by the FERC under federal law. ComEd’s current queue of independent
    power producer projects is published at http://www.comedtransmission.com/ipp.services/
    ipp.queue.html.

    Testimony of Arlene A. Juracek and
    PCB Docket R01-10
    Steven T. Naumann on behalf of
    7
    Commonwealth Edison Company
    Illinois Restructuring
    145
    In 1997, the Illinois General Assembly recognized that restructuring could
    146
    benefit Illinois’ electric customers, saying:
    147
    Competitive forces are affecting the market for electricity as a result of
    148
    recent federal regulatory and statutory changes and the activities of
    149
    other states. Competition in the electric services market may create
    150
    opportunities for new products and services for customers and lower
    151
    costs for users of electricity. Long standing regulatory relationships
    152
    need to be altered to accommodate the competition that could
    153
    fundamentally alter the structure of the electric services market.
    154
    (HB 362, p. 2, lines 108-116). The legislature passed the Electric Service Customer
    155
    Choice and Rate Relief Law of 1997 (the “Illinois Restructuring Legislation”), which
    156
    set the course for electric restructuring in Illinois. By May 2002, all customers will
    157
    be free to select the vendor of their electricity. The transition to customer choice is
    158
    already under way; some non-residential customers have been able to choose their
    159
    electric provider since October 1 of last year. The electric utilities, however, must
    160
    continue to offer to deliver the power, from whatever source and whatever vendor,
    161
    to retail customers in their service territories. This delivery service and the rates
    162
    charged for it continue to be regulated by the Illinois Commerce Commission.
    163
    ComEd, like other Illinois utilities, has established, with Commerce Commission
    164
    approval, tariffs and rates for electric delivery service.
    165
    Under the Illinois Restructuring Legislation, it is not incumbent on public
    166
    utilities to build new generating plants. In fact, the legislature took away from the
    167
    Commerce Commission the authority to order a utility to build a new plant. As
    168
    electric load in Illinois grows, market forces — that is, increased prices for
    169
    wholesale power — will encourage the new generation necessary to provide
    170
    sufficient energy to all that need it. By the same token, abundant generation will
    171
    cause lower prices, ultimately signaling the market that there is enough
    172

    Testimony of Arlene A. Juracek and
    PCB Docket R01-10
    Steven T. Naumann on behalf of
    8
    Commonwealth Edison Company
    generation. In the restructured industry, the financial risk of new generation
    173
    projects is on private investors, not public utilities and their customers. ComEd’s
    174
    role with respect to new independent plants is to work with the developers to
    175
    interconnect them with ComEd’s grid, making the power available to customers in
    176
    the region. Since the effective date of the Illinois Restructuring Legislation, ComEd
    177
    has worked with numerous developers to design interconnections with ComEd’s
    178
    grid.
    179
    Before restructuring, there were two primary regulatory schemes affecting
    180
    the construction of a new plant. The first was at the Commerce Commission,
    181
    which would decide whether the new plant was necessary to providing adequate,
    182
    efficient, and reliable service at the least cost. The second was the environmental
    183
    agencies, such as the Illinois Environmental Protection Agency, which would
    184
    decide whether to issue the necessary permits covering issues such as air
    185
    pollution. (In the case of nuclear plants, the federal Nuclear Regulatory
    186
    Commission also played an important role.) Local input was limited, because a
    187
    state Certificate of Public Convenience and Necessity generally preempts local
    188
    ordinances such as zoning, and regional public utility power plants and
    189
    transmission lines are considered matters of statewide, not local interest.
    190
    In the restructured industry, in which generation is built by private
    191
    companies based on market factors and ratepayers do not bear the cost or risk of
    192
    new plants, the Commerce Commission does not examine the need for the project.
    193
    It can be assumed that the project would not be proposed if electrical demand was
    194
    not sufficient to make the expensive new plant profitable. The environmental
    195
    regulation is unchanged, and private companies must meet the same standards as
    196
    a public utility would. However, the local counties and municipalities now have a
    197

    Testimony of Arlene A. Juracek and
    PCB Docket R01-10
    Steven T. Naumann on behalf of
    9
    Commonwealth Edison Company
    significant role to play, using zoning and other land use regulation to direct new
    198
    plants to suitable locations. As Ms. Juracek is aware based on her zoning board
    199
    experience in Mount Prospect, local municipalities are acutely interested in the
    200
    location of new privately owned facilities.
    201
    ComEd’s Position on Restructuring and New Generation
    202
    ComEd fully supports electric restructuring and believes that the
    203
    installation of new generation in response to market forces will increase
    204
    competition, while maintaining system reliability. ComEd believes that the optimal
    205
    situation is for Northern Illinois to have a local generation portfolio owned by a
    206
    number of different electric suppliers with market incentives to construct new
    207
    generating capacity, which together with resources from other utilities, would meet
    208
    the area’s increasing needs over time. All customers in the ComEd service
    209
    territory, whether they continue to purchase their electricity from ComEd or choose
    210
    an alternate supplier, will benefit from this new generation. New generation in the
    211
    ComEd service territory will increase the reliability of service overall, especially
    212
    during times of high demand for electricity, by having more generation available.
    213
    Having this new generation be within ComEd’s transmission “control area” — the
    214
    portion of the Midwestern electrical grid operated by ComEd — is particularly
    215
    advantageous because delivery of the energy from these plants does not depend on
    216
    the availability of transmission from others. The further away from a load a
    217
    generating source is located, the more transmission systems are impacted by flows
    218
    from the plant and the more chance there is of flow from the plant to the load being
    219
    restricted by constraints on the transmission system. For example, transmission
    220
    constraints have occurred nearly daily this summer between generation in the
    221
    northern states and loads in the southeast and southwest.
    222

    Testimony of Arlene A. Juracek and
    PCB Docket R01-10
    Steven T. Naumann on behalf of
    10
    Commonwealth Edison Company
    To help promote an efficient generation market, ComEd has taken two steps
    223
    that would have seemed radical or even unthinkable in the electric industry of only
    224
    a few years ago. First, ComEd sold its own fossil-fuel powered generating stations
    225
    to a private company, Midwest Generation EME. ComEd has agreed to purchase
    226
    power from Midwest Generation EME for several years to supply ComEd’s
    227
    customers. Second, ComEd has encouraged independent power producers to
    228
    locate in Northern Illinois. Independent power producers typically are not building
    229
    the coal-fired or nuclear generating plants of past decades, but rather gas-fired,
    230
    often smaller, peak load units. Encouragement of new independent power
    231
    producers means that the electric supply of this region will become more diversified
    232
    and more geographically dispersed.
    233
    One of the principal ways in which ComEd has sought to encourage power
    234
    production by independent producers is by studying its transmission system to
    235
    determine the most convenient and, from an electrical system standpoint,
    236
    beneficial locations for new generation. ComEd did this because ComEd’s
    237
    transmission system has developed over many decades to move power from
    238
    ComEd’s own generating units to customers in Northern Illinois, and to
    239
    interconnect ComEd’s facilities with those of its neighbors. As with any such
    240
    system, there are sites where interconnection with new generation is comparatively
    241
    more beneficial from the standpoint of the electrical operation of the transmission
    242
    system. ComEd analyzed the intricate network of its transmission system and
    243
    identified locations where a new generating facility could connect to the system in a
    244
    manner that maximized power delivery from the facility while minimizing
    245
    modifications that would have to be made to the existing transmission network to
    246
    accommodate that generation.
    247

    Testimony of Arlene A. Juracek and
    PCB Docket R01-10
    Steven T. Naumann on behalf of
    11
    Commonwealth Edison Company
    In June 1998, ComEd published a list of 14 preferred sites for the
    248
    interconnection of new facilities. A copy is attached as Attachment D to this
    249
    testimony. This list was based solely on electrical requirements and the ability of
    250
    the electrical system in a particular area to accept the inflow of power from a
    251
    generator without major new upgrades or expansions. It does not reflect any
    252
    judgment about land use issues or the availability of fuel at a particular location.
    253
    Effect of Stringent New Regulation of Peaking Plants
    254
    With the federal and Illinois laws currently in effect, there is strong interest
    255
    among new merchant generators to locate in Illinois. Even so, not all of the
    256
    proposed plants have been successfully completed. Some projects have failed to
    257
    obtain the requisite financial backing. Others have failed to obtain local siting
    258
    approval. There is no indication that the current regulatory scheme is thrusting
    259
    too much generation on Illinois.
    260
    Heightened legal restrictions, such as new siting or environmental standards
    261
    stricter than those applicable in other states, or new layers of regulation of non-
    262
    utility generation projects, could reduce interest in building new generation in
    263
    Illinois. A reduction in new generation could fundamentally alter the wholesale
    264
    market for electricity. A critical concern would be that the wholesale price of
    265
    electricity could rise dramatically. In Illinois and elsewhere, there have been
    266
    wholesale price “spikes” in recent years when electrical energy has cost utilities in
    267
    excess of $5 per kilowatt-hour. (Last year, ComEd sold electric power to end users
    268
    for, on average, $0.074 per kilowatt-hour.) These skyrocketing prices have
    269
    occurred when very high demand was coupled with constrained generation and
    270
    transmission supply.
    271

    Testimony of Arlene A. Juracek and
    PCB Docket R01-10
    Steven T. Naumann on behalf of
    12
    Commonwealth Edison Company
    Similarly, other states — notably California — have been facing shortages of
    272
    electricity this summer, because the demand levels are approaching the total local
    273
    generation capacity plus the transmission import capacity. Unlike Illinois, in
    274
    which the market for electric energy is a primary factor in determining whether
    275
    more generation will be built, in California, the state retains a pervasive regulatory
    276
    role in evaluating and approving new generation. California also regulates the
    277
    wholesale prices of power, rather than allowing the free market to set the price. As
    278
    a result, California has seen very little new generation built since it began its
    279
    restructuring, and the existing generation may not be sufficient to meet growing
    280
    demand. This summer California customers have experienced high prices and
    281
    curtailments as demand has approached capacity. Illinois currently stands ahead
    282
    of many other states in protecting its electric customers from this sort of
    283
    instability. The availability of sufficient peaker plants should smooth out price
    284
    spikes, to the benefit of all.
    285
    Additional Environmental Regulation
    286
    The Governor’s inquiry to this Board questioned whether additional air
    287
    pollution regulation of peaker plants is necessary. As the Board is aware, Illinois
    288
    law requires the Illinois Environmental Protection Agency (“IEPA”) to assure that
    289
    any proposed source of air pollution will meet or exceed all applicable federal and
    290
    state air pollution control requirements before IEPA may issue an air pollution
    291
    permit to the source. These requirements include all applicable emission
    292
    standards, the stringent federal New Source Review and Prevention of Significant
    293
    Deterioration requirements and New Source Performance Standards.
    294
    In its June 15, 2000 letter to IEPA, USEPA confirmed that the IEPA is
    295
    appropriately applying federal air pollution control requirements during IEPA’s
    296

    Testimony of Arlene A. Juracek and
    PCB Docket R01-10
    Steven T. Naumann on behalf of
    13
    Commonwealth Edison Company
    review of proposed peaker plants. Further, USEPA emphasized that IEPA’s
    297
    permitting of peaker projects assures protection of health based National Ambient
    298
    Air Quality Standards through the imposition of suitable short term, including
    299
    hourly, emission limits. IEPA was commended for requiring dispersion modeling
    300
    for even those proposed peaker plants that qualify as “minor sources.” This
    301
    practice is even more stringent that that applied for other types of non-major
    302
    sources of air pollution.
    303
    As confirmed by USEPA and IEPA, under existing laws, regulations and
    304
    procedures, plans for proposed peaker plants are already being carefully
    305
    scrutinized. Through its air permitting process, IEPA assures that neither local,
    306
    state nor national air quality is being threatened or compromised by the addition of
    307
    any peaker plants. And, like other generating facilities, peaker plants of significant
    308
    size will be subject to the evolving air pollution standards set by the Board through
    309
    Illinois’ State Implementation Plan.
    310
    Further, as the owners and operators of any existing or proposed peaker
    311
    plant can well describe, there is extensive analysis of potential noise and water
    312
    impacts during the planning stages of any peaker plant. These plants have been
    313
    designed to meet and, in many cases, exceed the applicable noise standards so as
    314
    to prevent any potential disturbance to surrounding neighbors. Water impacts,
    315
    including with regard to any potential contamination and water supply, are also
    316
    carefully assessed during the planning and development of any peaker plant.
    317
    Stringent state requirements regulate the discharge of contaminants while local
    318
    authorities often directly oversee issues of water supply. In addition, the impact of
    319
    peaker plants and other facilities on water resources and usage will be closely
    320
    examined by Governor Ryan's newly appointed Water Resources Advisory
    321

    Testimony of Arlene A. Juracek and
    PCB Docket R01-10
    Steven T. Naumann on behalf of
    14
    Commonwealth Edison Company
    Committee, which will present its recommendations to the Governor by December
    322
    2000.
    323
    Conclusion
    324
    ComEd supports the restructuring of the electric industry as crafted by the
    325
    Illinois Legislature and the Federal Energy Regulatory Commission. A critical
    326
    feature of restructuring is the availability of new privately developed electric
    327
    generation to meet the State’s increasing demand for power. The regulatory
    328
    scheme currently in effect applies established state and federal standards for air,
    329
    water, and noise pollution, while local governments control the siting process using
    330
    traditional zoning authority. New or more stringent regulation is not warranted,
    331
    and would likely have a negative effect on the State’s generation capacity.
    332

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