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News
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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, 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
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Industry News
California Delays Action on Bond Issue
LCG, Aug. 22, 2001--The California Public Utilities Commission will not be ready to vote tomorrow on a plan for application of the proceeds of a $12.5 billion power purchase bond issue the state hopes to bring to market on October 31.CPUC President Loretta Lynch said yesterday that the vote had been set back to September 6. She said the two-week delay was needed "to properly accommodate the volume and scope of comments received last week." The delay, which endangers the October 31 deadline, is the latest in a string of problems facing the bond issue. The state had originally intended to market the bonds in May, and Gov. Gray Davis had "guaranteed" that money from the bonds would repay the state treasury by June 30 for money used to buy power.California Treasurer Phil Angelides said yesterday that "unless serious legal challenges or other unforeseen impediments block the sale" the bonds could still come to market by October 31 if the CPUC adopts the bond plan pretty much as it is by the end of next month.Among the issues that need to be resolved by the CPUC is how much of their revenues the state's three investor-owned utilities must contribute to service the bond issue. The commission must also rule on several items that formalize the power purchase role of the California Department of Water Resources.The October 31 deadline is important because it is also the deadline when interest on a $4.3 billion "bridge" loan taken in anticipation of the bond issue jumps from 4.14 percent to 7 percent. The difference could cost the state $270,000 a day in added interest.One of the "serious legal challenges" feared by Angelides could be in the works. Shortly after Lynch announced the CPUC's two-week delay, Pacific Gas & Electric Co. said it had asked the state Superior Court in Sacramento to order the water agency to hold public hearings before deciding whether its $13 billion in power purchase contract costs are just and reasonable and should be charged to electric retail ratepayers.That lawsuit goes to the heart of the issues facing the CPUC in that any reduction in the utility revenues granted to the CDWR would endanger the state's ability to service the bond issue.PG&E believes the water agency has been trying to build its bank account at the expense of the utilities and their customers."There is evidence that CDWR is attempting to overcharge electric customers in PG&E's service area by over $1.4 billion in 2001 and 2002 alone, but CDWR is refusing to hold a hearing on whether its costs are reasonable and supportable," Roger Peters, PG&E senior vice president and general counsel, said in a statement."CDWR should not be given a blank check to pay for its high-priced power contracts. The public needs to be able to review CDWR's contracts and hold them accountable for the billions of dollars they are spending," he added.PG&E said in a statement that based on limited information provided by CDWR, the company's analysis indicates that the agency "has padded its revenue requirement for 2001-2002 by more than $3 billion due to overestimating the cost for spot power purchases and natural gas."The utility said that the way the water agency wants it, every electric customer of the state's investor-owned utilities would be overcharged $6,800 over the next 10 years. PG&E says the public hearing are required by the California Administrative Procedure Act, Water Code and Public Utilities Code, and the due process clauses of the federal and state constitutions.It's only asking that the California Department of Water Resources play by the rules -- and obey the law.
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UPLAN-NPM
The Locational Marginal Price Model (LMP) Network Power Model
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UPLAN-ACE
Day Ahead and Real Time Market Simulation
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UPLAN-G
The Gas Procurement and Competitive Analysis System
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PLATO
Database of Plants, Loads, Assets, Transmission...
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