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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.

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Industry News

FERC Approves Ingleside LNG Terminal

LCG, July 27, 2005--The Federal Energy Regulatory Commission (FERC) approved on July 21 the proposed Ingleside Liquefied Natural Gas (LNG) terminal and related facilities. The project site is on the shore of Corpus Christi Bay near Ingleside, Texas, and is owned by Occidental Chemical Corp., the parent company of the applicant, Ingleside Energy Center.

The new terminal is designed to import and process 1 Bcf/day of natural gas. The terminal will be interconnected with the proposed San Patricio Pipeline. The 26-inch diameter pipeline is to extend approximately 26.4 miles to nine interstate and intrastate pipelines for transportation to distant markets.

A unique feature of the terminal is that waste heat from Occidental Chemical's existing chemical facility will be used to vaporize the LNG, saving an estimated 16 MMcf/day of natural gas that would otherwise be consumed in the process. Furthermore, the chemical plant will reduce its fresh water consumption by about 2 million gallons per day by using the LNG to support its cooling needs.

The FERC has recently approved the construction of a number of new LNG terminals. ExxonMobil's affiliates, Vista del Sol LNG Terminal LP and Vista del Sol Pipeline LP, received FERC approval on June 15 for their proposed Vista del Sol LNG Terminal and related pipeline facilities, which will be located along the Gulf of Mexico near Corpus Christi, Texas and will be able to receive approximately 1.1 Bcf/day of LNG.

On June 30, the Commission approved the Weavers Cove LNG terminal to be constructed in Fall River, Massachusetts, and the Golden Pass LNG Terminal and Golden Pass Pipeline, which are to be constructed in Texas and Louisiana. The FERC also denied on June 30 an application submitted by Keyspan and Algonquin Gas Transmission to modify an existing LNG storage facility in Rhode Island into a new LNG import terminal because the proposed facility would not meet current construction and safety standards.

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