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

SoCal Ed Will Wait for Lawmakers to Return

LCG, July 30, 2001Southern California Edison Co. said on Friday that it will cut a little slack to California lawmakers and wait for the state legislature to return from its summer vacation, rather than sticking to its August 15 deadline for legislation to permit the state to purchase its transmission assets.

When California Gov. Gray Davis and the utility negotiated a deal for the state to pay $2.76 billion for the utility's transmission system early this year, they set the deadline and have insisted it must be adhered to..

Now, officials of SoCal Ed say they will use the time between now and August 20, when the legislature will reconvene, to work with the governor's office, legislative staff and regulators to put together a plan for the lawmakers to consider when they are refreshed from a month's vacation.

Three measures, one in the state Senate and two in the Assembly, were in various degrees of sinking when the legislature adjourned for its summer recess. All contained wide diversions from the deal put together by the company and the governor.

Legislation adopted last week by the state Senate did not provide for the purchase of the transmission lines, though it would provide state backing for up to $2.5 billion in bonds to be issued by SoCal Ed. A company official said that some provisions of that bill "simply don't work well, don't work at all." The Assembly adjourned without having taken a vote on any sort of plan.

Now, the company appears ready to give the legislature another chance to get the arrangement with Davis right.

On Friday, Ted Craver, chief financial officer of the utility's parent company, Edison International Inc., said in a conference call with some SoCal Ed creditors "As long as we see a significant and good faith effort to get that resolved, we have a preference to put all of our efforts to that."

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