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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

California Files Suit Against PG&E Corp.

LCG, Jan. 11, 2002--The state attorney general of California, Bill Lockyer, filed suit on Thursday against PG&E Corp., on the grounds that fraud was committed when Pacific Gas & Electric, the regulated utility, transferred over $4 billion to its corporate, unregulated parent.

According to Lockyer, when the details of electric power deregulation were being worked out, PG&E Corp. had committed itself to insuring that Pacific Gas & Electric would remain financially stable. The Public Utilities Commission made the formation of PG&E Corp. as an unregulated holding company conditional on such an understanding, the suit asserts.

On Wednesday, the PUC ruled in a 3-2 vote that although the holding company is unregulated, the state nonetheless has the authority to sue it. Lockyer commented, "When you follow the money between the child and the parent, what you find is that all the money in this system went form the chld to the parent."

The regulated utility transferred $4.6 billion through 2000 to the holding company, when one-third of its revenues were transferred. In April of 2000, it cited $13 billion worth of debt in seeking bankruptcy protection.

A statement by Locker alleged that "the corporation deliberately failed to disclose its true intentions and misled the California Public Utilities Commission to gain approval of its holding company structure." PG&E Corp. responded to the suit by saying its intended effect was "to obstruct our utility's plans for emerging from bankruptcy."

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