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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

Czech Power, Gas Industries to be Sold

LCG, Aug. 27, 2001--The Czech government will offer for sale the country's electricity and gas industries, hoping to complete the huge privatizations before next year's election, the Financial Times reported Friday.

The sell-offs are necessary to enable the Czech companies to compete in the liberalized European Union energy markets and their proceeds are needed by the Czech Republic to close its budget deficit, the paper said.

The government owns 67 percent of CEZ, the dominant electric generation business, which has a market capitalization of $1.2 billion, but it want to be paid $4 billion for 64 percent of that. Last month Deloitte & Touche was selected to make that wish come true.

Deloitte will also manage the sale of six of the country's eight regional electric distribution companies. ABN Amro was chosen to sell a package of 97 per cent of Transgas, the natural gas transportation company, together with mostly majority stakes in all eight regional gas distributors.

A combination of circumstances should get the Czech government a premium for CEZ. The company's power plants are in good condition and produce low-cost power, the Czech domestic power market is strong and growing, and there is significant interest in the power sector.

Electricit de France, International Power and British Energy of the UK, RWE of Germany, AES of the US, and Enel of Italy have already declared interest in the CEZ sale.

The Financial Times said the government also hopes to receive more than $2 billion for the gas industry, which includes the main pipeline from Russia to western Europe. Two rival consortia have so far come forward: Gaz de France, Ruhrgas, and Snam, and RWE with Wintershall, the paper said.

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