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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

Davis Seizes PG&E's Long-Term Power Contracts

LCG, Feb. 6, 2001California Gov. Gray Davis again used his power of eminent domain yesterday to seize long term power contracts between a state utility and generating companies to prevent their being sold to satisfy the company's debtors.

As he did on Friday when he grabbed contracts belonging to Southern California Edison Co., Davis yesterday seized contracts of Pacific Gas & Electric Co. before they could be liquidated by the California Power Exchange.

The contracts, entered into by SoCal Edison and PG&E in the power exchange's "block forward" market, are for electricity at 6 to 13 cents per kilowatt-hour, EnergyOnline Daily News has learned. This compares with prices of 25 cents to 35 cents per kilowatt-hour the companies have been paying in the spot market.

At a news conference yesterday, Davis told reporters "This will ensure that the price of power is a good deal less than it would be if it went out on the open market. Legislative leaders urged me to take this action and I took it."

Davis said the money to acquire the contracts will come initially from the state's general fund.

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