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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

SCE Announces Contracts for 590 MW of New Energy Storage Capacity

LCG, December 8, 2020--Southern California Edison (SCE) yesterday announced that it has signed long-term contracts for four projects totaling 590 MW of battery energy storage resources that are designed to improve the region's electric system reliability. The contracts are in addition to the company's May acquisition of 770 MWs of energy storage procurement. The new contracts are expected to increase SCE's total amount of installed and procured battery storage capacity to approximately 2,050 MWs.

The new contracts will require California Public Utilities Commission (CPUC) approval, and SCE expects to submit them for approval by the end of this year. The projects are scheduled to commence operations by August 2022 and 2023.

SCE's Vice President of Energy Procurement & Management stated, "Bringing more utility-scale battery storage resources online will improve the reliability of the grid and further the integration of renewable generation resources, like wind and solar, into the grid. As California transitions to 100 percent clean renewable energy to reduce the greenhouse gas emissions that are driving climate change, battery storage will play a key role in harnessing the value of these cost-effective, carbon-free resources in a reliable manner."

Three of the four projects are utility-scale projects totaling 585 MW and will take advantage of lithium-ion batteries that can store relatively low-cost electricity for use when prices are higher (e.g., when the sun sets, solar electricity generation declines, and demand for electricity remains high). The fourth project is a 5 MW demand response contract that will use energy from customer-owned energy storage.

The four storage project contracts are with Recurrent Energy (200-MW Crimson project, online date of 8/1/2022); 174 Power Global/Hanwha Group (60-MW Eldorado Valley project, online date of 8/1/2022); NextEra Energy (325-MW Desert Peak project, online date of 8/1/2023) and Sunrun (5-MW Behind-the-Meter Storage project, online date of 8/1/2023).

SCE estimates California needs to add 30 GW of utility-scale storage to the grid and 10 GW of storage from distributed energy resources to meet the state's clean energy and carbon neutrality goals for 2045.
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