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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

Calpine in 10-year, $4.6 Billion Power Deal with California

LCG, Feb. 7, 2001Calpine Corp. said this morning that it had signed a 10-year contract to provide the California Department of Water Resources $4.6 billion worth of electricity. Deliveries will begin in October and continue through 2011, the company said.

No one was able to think of a larger power deal in the history of the independent power industry. Calpine will start off by supplying the water department with 200 megawatts on October 1. The amount of power will build to 1,000 megawatts by Jan. 1, 2004, and stay at that level for the balance of the contract.

This will be base load power. Calpine said the electricity will be sold on a 24-hour, 7-day week basis, directly to the Department of Water Resources.

James Macias, a Calpine vice president who led negotiations with the state, said ". This contract between Calpine and the State brings competitively priced power to the market to help stabilize electricity prices for consumers. As a California company, Calpine is pleased to have entered into one of the first transactions under the long-term power legislation recently signed by Governor Davis."

The company said it has already made other commitments to deliver power to California public agencies, such as the Sacramento Municipal Utility District, Modesto Irrigation District, ImperialIrrigation District, and the Association of Bay Area Governments.

The initial 200 megawatts to be delivered this coming October will likely be produced at one of the company's new energy centers, the first power plants licensed in California in more than 10 years. Additional power will probably come from plants currently under development in the state.

Calpine said it has about 2,000 megawatts under construction in the states and another 2,300 megawatts in development. It expects to have 7,700 megawatts of new generation on line in the state by 2005.

That includes the planned 600 megawatt Metcalf Energy Center in San Jose, Calpine's home town. Permitting for that plant has been held up by opposition from Cicso Systems, the No. 1 maker of computer networking equipment and San Jose's largest employer. The gas-fueled, combined-cycle power plant would be built within view of a new Cisco factory, something the Internet company thinks would be aesthetically unpleasant.

Cisco Systems has not volunteered to run its plant on steam or light it with candles.

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