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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

First Energy Sells Aussie GasNet via IPO

LCG, Dec. 14, 2001--First Energy Corp. said yesterday that it has completed the initial public offering of its GasNet subsidiary in Australia, which was acquired through the company's merger with the former GPU, Inc. which was completed last month.

First Energy said the sale will immediately reduce its consolidated debt by $290 million of GasNet-related debt. Additionally, $125 million of net proceeds from the sale will be used to reduce debt, primarily at First Energy's electric utility operating companies in the United States.

"The sale of GasNet supports First Energy's business strategy of continuing to divest non-core businesses, increasing our financial flexibility through the reduction of debt, and focusing on our integrated approach to meeting the energy needs of retail customers in our targeted operating region," said Richard H. Marsh, senior vice president and chief financial officer.

GasNet, which is headquartered in the Australian state of Victoria, owns and operates 1,200 miles of high-pressure gas transmission pipeline networks, which serve about 1.4 million residential customers and some 43,000 industrial and commercial users throughout Victoria.

GasNet chief executive Christine O'Reilly said, "We are delighted with the very strong support shown by both retail and institutional investors. We look forward to beginning this exciting new phase of the business and delivering value to our new unitholders."

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