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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

Enron Executive Receives Prison Sentence

LCG, September 11, 2003Ben Glisan, former treasurer for the Enron Corporation, was sentenced to five years in federal prison for conspiracy to commit wire fraud.

Glisan was sentenced yesterday after he plead guilty to one count of criminal wire fraud. He will forfeit $938,000 as illegally obtained revenue. He will also not receive any refund for the $412,000 he paid in income taxes last year.

Prosecutors were probably hoping to make a deal with Glisan in order to develop cases against Enrons big fish, particularly former chief executive Jeff Skilling and former chairman Ken Lay. However, Glisan has proved fairly uncooperative, and the Justice Department said they made no agreement.

Glisan worked under Andrew Fastow, Enrons former financial officer. In May, Glisan, Fastow, and former Enron employee Dan Boyle plead innocent to indictments addressing allegedly manipulative accounting.

Yesterday, however, Glisan announced that he participated in an off-balance sheet partnership, Talon, that involved $30 million in capital that came from Enron but was reported as outside capital. He noted that he and others planned to manipulate Enrons financial statements.

Over twenty people previously employed by or somehow related to Enron have been indicted. Six have plead guilty, but Glisan is the first to be sent to prison.

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