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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

175 Megawatts Planned for New Jersey Refinery

LCG, Aug. 10, 2000--Tosco Refining, LP said on Wednesday that it has entered into a contract with East Coast Power for a 170 megawatt combine-cycle cogeneration plant to provide electricity and steam to its Bayside Refinery in Linden, New Jersey.

East Coast Power is a joint venture between Enron North America and El Paso Energy Corp. It will provide $110 million of the investment in the plant, which will cost about $140 million. The balance will be provided by Tosco.

The new facility will be built at an East Coast Power facility that now provides steam to Tosco and 645 megawatts of power to Consolidated Edison Co. of New York. The new generation is expected to come on line at the end of next year when Tosco expects to require 125 megawatts of its output. The remaining 45 megawatts will be sold by Tosco in the wholesale market.

Tosco said it will save about $12 million per year off its current electricity costs and sale of surplus power will add "significantly" to its savings.

Dwight L. Wiggins, president of Tosco Refining, said "The turbine has been sized to take Bayway's growth plans into consideration, including the world-scale polypropylene plastics plant currently under construction, as well as projects we will build to manufacture the next generation of cleaner-burning transportation fuels."

Tosco Refining is a division of Tosco Corp., which currently has more than $20 billion in annual revenues. Tosco is the largest independent refiner and marketer of petroleum products and convenience store merchandise in the United States.

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