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

Davis' Maviglio Another Calpine Shareholder

LCG, July 31, 2001Just days after California Gov. Gray Davis' administration announced the sacking of five consultants for owning stock in Calpine Corp. and other energy producers, it turns out that the man who does the governor's announcing is a shareholder of Calpine and Enron Corp.

Steve Maviglio, the governor's spokesman, acknowledged yesterday that he had purchased 300 shares of Calpine on June 20, after instructing his broker on May 31 to buy the stock if it got down to a certain price. He said he also owns 100 shares of Enron.

A week after the trade went off, Maviglio had warm praise for Calpine, telling reporters that the company has "made a clear commitment to invest in California." Contrasting Calpine with other power producers, he added "Their pricing has been far more reasonable than any other generator."

Maviglio's comments didn't help Calpine's stock. At the time he placed his order, it was trading at around $45, and subsequently dropped to around $38 when the trade was made. Despite a spike earlier this month, it is still trading in the high 30s.

Five energy traders, working as consultants with the California Department of Water Resources, were terminated Friday after financial disclosure statements revealed to Davis' people that they owned stock in Calpine and other power producers a potential conflict of interest. A sixth resigned on her own.

Davis had said that people hired as consultants were exempt from requirements that such disclosures be filed, but California Secretary of State Bill Jones, a Republican who may challenge Davis in next year's election, thought differently and pressured the administration to reveal the holdings of the consultants.

Yesterday, he said Maviglio ought to be fired. "These actions are unethical, unconscionable, unacceptable, and heads should roll," Jones said in a statement.

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