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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

Dynegy Buys into UK Natural Gas Industry

LCG, July 17, 2001U.S. energy firm Dynegy Inc. said yesterday it has agreed to acquire BG Storage Ltd. from its owner BG Group Plc of Britain for 421 million ($590 million U.S.).

Among BG Storage's assets are nine salt caverns, 30 wells with five offshore platforms in the North Sea, about 20 miles of pipeline and a natural gas processing terminal.

Also included is the Rough storage facility, Britain's largest. A partially depleted gas field in the Southern North Sea is used to store gas three kilometers underground. Its unique feature is its huge size, able to store the amount of gas needed to supply the British market for 13 days.

Dynegy said BG Storage's 290 employees will be retained when the deal closes later this summer. The acquisition will become part of Dynegy Europe Ltd.

"This acquisition is the cornerstone of Dynegy's European energy delivery network, which willenable us to capture incremental value in the newly liberalized European Union energy markets," Gary Cardone, president of Dynegy Europe, said in a statement.

Frank Chapman, Chief Executive, BG Group Plc, said: "We have carried out an exhaustive strategic review of BG Storage's operations and concluded that the greatest shareholder value was likely to be achieved through a sale of these assets, and we have worked quickly to realize this outcome. We will continue to enhance our strategic position as the integrated gas major and remain committed to growing the value of our UK assets. The proceeds will be utilized elsewhere to further our aims of growing the business and simultaneously strengthening returns."

The transaction is subject to approval by the British office of Gas and Electricity markets and UK competition authorities.

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