Tampa Electric Plans to $800 Million Investment in New Solar Power Generation

LCG, February 24, 2020--Tampa Electric recently announced plans to expand its use of solar power to meet customer needs in Florida. The company plans to invest approximately $800 million to add 600 MW of solar electric generating capacity by the end of 2023, when the total solar capacity would exceed 1,250 MW. Solar power will then account for about 14 percent of the utility's energy.

Read more

AWEA Issues Fourth Quarter 2019 Market Report

LCG, February 7, 2020--The American Wind Energy Association (AWEA) recently released its new U.S. Wind Industry Fourth Quarter 2019 Market Report. AWEA reports new wind turbine installations have added 5,476 MW of electric generating capacity during the fourth quarter, which results in 2019 installations totaling 9,143 MW. The total installations represent an increase over 2018, but the total for 2019 falls short of total annual installations for 2015 and 2016. In addition to new capacity additions, developers completed 2,500 MW of turbine repowerings for the year.

Read more

Industry News

Apache Deplores 'Speculation' by Gas Traders

LCG, Oct. 2001--In a thinly-veiled swipe at Enron Corp., oil and gas producer Apache Corp. yesterday deplored "speculative" activities by natural gas traders, saying they have contributed to an extreme volatility in gas markets that now threatens U.S. energy supply.

In remarks that accompanied Apache's third quarter earnings report, Raymond Plank, the founder and chief executive of the Houston-based company, said "As Americans, we want to contribute to our country's energy security in every way we can."

But Plank found that not all companies share his patriotism. "Regrettably, at a time when stability and rationality should be the call words, we find ourselves in the most volatile natural gas pricing environment in history," he said. "Current conditions make it difficult, if not impossible, to maximize our contribution to the nation."

And he knew whom to blame. "This debacle is the result of excessive speculation inherent in a gas market driven by paper trades." Plank later admitted that Enron was a target of his remarks.

Enron is North America's biggest paper trader of natural gas.

Plank's son, Chief Financial Officer Roger Plank, said in a conference call "Investors and industry alike are trying to determine what has really been going on behind the curtain of some of the most active traders of natural gas."

The Securities and Exchange Commission is also trying to find out what has been going on, and it was the SEC's inquiry into Enron's activities that earlier this week cost Andrew Fastow his job as Enron's chief financial officer.

G. Steven Farris, Apache's president and chief operating officer, joined the attack on paper traders. "Never before have we had such unchecked short-term speculation and trading which makes long-term investment decisions in natural gas almost impossible," he said.

But Farris returned to the business at hand. "Despite the impact of a slowing economy on (natural gas) prices, Apache's earnings and financial condition remain strong," he said. The company reported that its third-quarter earnings fell to $151.9 million, or $1.19 cents per share, from $197.3 million, or $1.58 per share, in the same period of 2000, due to sharply lower natural gas and crude oil prices.

Copyright © 2020 LCG Consulting. All rights reserved. Terms and Copyright
Generator X
Generation and Transmission Planning and Optimization
The Locational Marginal Price Model (LMP) Network Power Model
Day Ahead and Real Time Market Simulation
Day-ahead and real-time portfolio revenue optimization
The Gas Procurement and Competitive Analysis System
Database of Plants, Loads, Assets, Transmission...
Annual summary of prices, congestion and important events in ERCOT
CAISO CRR Auctions
Monthly Price and Congestion Forecasting Service