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LCG Publishes 2024 Annual Outlook for Texas Electricity Market (ERCOT)

LCG, October 10, 2023 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2024, based on the most likely weather, market, transmission, and generator conditions.

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LCG Publishes 2024 Annual Outlook for Texas Electricity Market (ERCOT)

LCG, October 10, 2023 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2024, based on the most likely weather, market, transmission, and generator conditions.

Read more

Industry News

Florida Progress Must Sell Ball Club to Get Merger Approval

LCG, Nov. 28, 2000--CP&L Energy Inc., which said over the weekend that its acquisition of Florida Progress Corp. is scheduled to close on Thursday "pending approval by the Securities and Exchange Commission" may not get that approval as easily as it thought.

The Tampa Tribune reported this morning that Florida Progress has to sell its interest in the unfortunately-named Tampa Bay Devil Rays, thought of by some as a major league baseball team, before the SEC will sign off on the merger.

Florida Progress invested $5 million to bring major league ball to Tampa in the form of the Devil Rays, which gives it a 5.8 percent interest in the team but no say in its management. That is just as well for the utility, because it does not need customers complaining about the club's 69 and 92 record this year, which was good enough for last place in the American League East.

The SEC may grant a conditional approval, allowing consummation of the merger, with a must-sell date for getting rid of the Devil Rays. An earlier filing by CP&L Energy contemplated March 31, 2006, as such a deadline. Based on performance to date, it is unlikely the team will be coming off a pennant-winning year at that time.

CP&L spokesman Keith Poston said "It was never our intention to sell the interest in the Devil Rays, (but) it was clear that they (SEC officials) did not believe that the Devil Rays interest would pass muster."

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