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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

Columbian Unrest Forces AES to Close Power Plant

LCG, Oct. 9, 2001--AES Corp. of the U.S. said yesterday it would shut down its 300 megawatt Termocandelaria power plant in the port city of Cartagena, Columbia, on December 3 because of regulatory uncertainty and the inability of the government to control rebellious elements of its populace.

AES, which also operates a 1,000 hydroelectric plant in Columbia, said it would probably dismantle the plant and move it to a country with more stable regulation and less internal conflict.

"Short- and medium-term perspectives, given current regulation and market conditions, leave us no other option," said AES of the proposed closure of the $150 million Termocandelaria plant, which it acquired from KMR Power Corp. last November.

The regulatory uncertainty that has hit AES and other foreign investors in Columbia's energy sector stems from a government decision in March to no longer compensate companies for losses incurred when Marxist guerillas blow up power plants and transmission lines.

If other power producers follow AES' lead, it could cause power shortages in Columbia, where the total generating capacity is 12,500 megawatts, more than half from plants owned by foreign companies such as AES, Union Fenosa and Endesa of Spain.

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