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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

AES Buys Control of Chile's Number 2 Power Firm

LCG, Dec. 29, 2000AES Corp. said yesterday that it has acquired 61.57 percent interest in the number two electric generating firm in Chile for $841 million. AES bought nearly 3.5 billion shares of Gener in an auction on the Santiago Stock Exchange.

AES first made a tender offer for Gener two months ago and then, on December 12, sweetened its offer to attract more sellers of Gener stock. Coupled with its $16.50 offer for Gener's American Depositary Shares, AES' total bid is for 80 percent of the Chilean company at a cost of about $1.1 billion.

Under a new Chilean law, AES must now make an offer for the balance of Gener shares. The law requires any investor acquiring two-thirds of a Chilean firm to take complete control. AES acknowledged the law earlier this week and said it would do just that.

Naveed Ismail, AES director for Latin America, told a news conference yesterday "Today we acquired 61.57 percent of Gener and tomorrow (today) probably we ought to be buying another 25 percent which will give us close to 90 percent of the company's share capital."

Ninety percent of Gener works out to a $1.3 billion investment for AES.

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