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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

California Republicans Want Power Purchase Hearings

LCG, Aug. 23, 2001--Additional pressure to force California to hold public hearings on state power purchases came yesterday from key Republicans in the state legislature.

The lawmakers also want public hearings into possible conflicts of interest by state power traders and members of Gov. Gray Davis' staff.

State Sen. Jim Brulte of Rancho Cucamonga and Assemblyman Dave Cox of Fair Oaks, both Republican leaders, said in a letter to Democrat leaders of both house of the California legislature, "While we have given the administration great leeway in making energy purchases, the ultimate financial responsibility rests with us (the legislature)."

The request for power hearings comes a day after Pacific Gas & Electric Co. sued the state in California's Superior Court, asking that the California Department of Water Resources be ordered to hold public hearings on its power purchases.

State Senate President Pro Tem John Burton of San Francisco, a Democrat, dismissed the Brulte-Cox letter as "obviously a political thing," but added "There may be some merit to it, so we'll see if we can do something constructive, as opposed to having a political circus."

Paul Hefner, a spokesman for Assembly Speaker Robert Hertzberg, a Van Nuys Democrat, said the speaker had received the letter yesterday but had not yet commented on it. Hefner added that Hertzberg "takes oversight hearings very seriously."

Since it began buying power on behalf of the state's cash-strapped investor-owned utilities in January, the water agency has spent more than $9 billion in spot market purchases and has entered into long-term contracts for another $43 billion worth of power.

While the hearings asked for by PG&E would be conducted by the water agency into its own dealing, those asked for by Brulte and Cox would be conducted by the legislature.

The two lawmaker also want hearings into possible conflicts of interest by Department of Water Resources energy traders and by energy advisers Davis has hired to help him formulate state policy.

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