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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

Southern California Edison Nearly Debt-Free

LCG, Mar. 1, 2002--Southern California Edison today is expected to pay out about $5.5 billion, removing debt from the utility's books, and taking care of overdue bills from power suppliers large and small.

The payments would be made partly from $3.4 billion of available cash, and from $400 million collected from ratepayers in the last two months. The utility has been working to secure a loan from investment banks worth $1.6 billion, backed by Edison first mortgage bonds, which are secured by its assets.

In January 2001, Edison went into debt after failing to make payments to suppliers for deliveries in November and December of the year just past. If the payments expected today are carried out, Edison would still not be considered creditworthy. It expects to continue to make up for the difference between its collections from ratepayers and the prices at which it bought power through next year. As part of a settlement of a suit SCE brought against the California Public Utilities Commission last year, the state must maintain higher power rates at least until SCE has recovered the difference in full.

"Payment is contingent on closing the financing, but it is still our intent to make the payments tomorrow," Brian Bennet, vice president of external affairs for Edison International, the company's parent, said.
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