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ERCOT 2019 Summer Quarter Outlook

LCG, May 29, 2019-- LCG released a new summer (June – September 2019) report that looks at how the ERCOT grid copes with strained network conditions. Resource adequacy analysis for the region is especially important during extreme summer loading conditions. This summer the network is under particular scrutiny as the reserves have tightened because of recent retirements.

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South Field Energy Breaks Ground for 1,182-MW Power Plant

LCG, May 16, 2019--South Field Energy LLC announced yesterday its groundbreaking for an 1,182-MW, combined-cycle electric generating facility in Columbiana County, Ohio. The natural gas-fired facility is scheduled to commence operations in mid-2021 and represents a $1.3 billion investment.

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Industry News

Governor Signs Power price Cap Bill

LCG, Sept. 7, 2000California Gov. Gray Davis yesterday signed legislation that will roll back power prices in the southernmost portion of the state to roughly where they were before electricity consumers started using more juice than was readily available.

The price cap of 6.5 cents per kilowatt-hour, retroactive to June 1, is about a quarter of the $250 per megawatt-hour that San Diego Gas & Electricity Co. paid the California Power Exchange for electricity that is sold without markup to its customers at 25 cents per kilowatt-hour a price that caused a typical householder's electric bill to run around $125 in a hot month.

The hue and cry from wounded power consumers who were used to $60 electric bills was enough to prompt the artificial expedient of a politically-imposed price cap, but someone will have to pay the difference and it looks like that someone is SDG&E. The utility will have the opportunity to get its money back later, if it can find a source of power at less than $65 per megawatt-hour.

In signing the bill yesterday, Gov. Davis said "In the short term this will ease the uncertainty of San Diego energy prices. When it comes to predicting their electric bills, San Diego consumers have been in the dark long enough."

The governor did not, however, sign another bill that would have provided state funds to pay for up to $150 million of the price cut.

SDG&E spokesman Doug Kline said "Our customers need relief but the bill that the governor signed into law today is seriously flawed. It is a quick political fix that puts on layaway today's high energy costs until 2003 or 2004." He estimated the measure will cost his company $664 million by the end of 2002 and that could increase to $839 million in another year.

The governor did sign a second energy-related bill that aims at speeding up the approval process for new power plants.

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