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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

British Columbia Panel Positive on Offshore Drilling

LCG, May 2, 2002--Findings by an advisory panel in British Columbia raise the possibility of dialogue between the province and the Ottawa government concerning the lifting of a moratorium on offshore drilling for oil and gas reserves.

The panel found that there was no compelling environmental reason and no actual legal reason not to allow drilling off of British Columbia, although the national government took serious steps to enact a moratorium in the 1970's. According to the panel, the moratorium was more an act of sentiment than a binding measure.

The federal Minister of Natural Resources, Herb Dhaliwal, said that while his ministry is looking at the report, "there is a moratorium." Dhaliwal said that research would have to be conducted by the national government before any change in policy could be seriously considered.

The B.C. Minister of Energy and Mines, Riochard Neufeld, took heart in the findings, saying, "an offshore oil and gas industry could create enormous economic benefits for British Columbians and we are working with the federal government to pursue those."

One possible impediment to development is the presence of native groups, as well as opposition from environmentalists. A moratorium was imposed by the B.C. government in 1989 in reaction to the Exxon Valdez oil spill in Alaska. The ban on drilling extends from Vancouver Island's south coast northward through the Queen Charlotte Islands.
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