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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

NYSE&G Fumes over Big Rate Cut Order

LCG, Dec. 20, 2001--New York State Electric & Gas Corp. was dealt a $205 million a year blow yesterday by the New York State Public Service Commission, which ordered a temporary electricity rate reduction for all classes of customers, to take effect next month.

In a statement issued following an afternoon meeting in New York City, the utility said the commission's action was "not only unwarranted, but unlawful."

Ralph Tedesco, NYSE&G's president, said "New York State is reneging on a contract by arbitrarily reducing NYSE&G's electric delivery price on a temporary basis." He should be happy it isn't permanent.

The commission said in a statement that the cuts would amount to about 13 percent for residential and other customers and will remain in effect until regulators can come up with permanent rates.

The rate imbroglio has a long history. Early this year, the utility proposed a 5 percent rate reduction to take place next year that would be implemented as an extension of the commission's 1998 order deregulating electricity sales in the state.

By August, NYSE&G decided that was too generous and amended its request to 3 percent. That move set off a demand by large commercial and industrial customers that the commission reduce the utility's rates significantly and make them temporary until a permanent rate could be decided upon.

NYSE&G said it "will study the decision and take any necessary steps to appeal the PSC's unlawful action."

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