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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

Pennsylvania PUC Finds Anticompetitive Behavior

LCG, June 14, 2002--A six-month investigation by the Pennsylvania Public Utilities Commission into wholesale and retail electricity markets during 2001 has been referred to the state attorney general's office, the Federal Energy Regulatory Commission, and the U.S. Justice Department.

The Commission's ruling yesterday concluded that in early 2001, the rates charged by PPL Corp., a utility serving central and northeastern Pennsylvania, caused alternative suppliers to exit the market for wholesale and retail service. "It appears evident that PPL aggressively sought to exploit market rules by obtaining a corner on [the market] and... utilitized it to maximize profits and... undermine its wholesale-market competitors," according to the Commission. Pennsylvania-Jersey-Maryland Interconnection (PJM), the grid operator which oversees the electricity market within the mid-Atlantic region, provided the basis for the PUC's unanimous 5-0 decision.

PJM's rules require that suppliers of electricity secure a certain amount of available power resources above what they arrange to sell. A spike in the price of these reserves lasted for nearly three months beginning in January 2001, with the price going from approximately $5 to more than thirty times this level. The PUC concluded that PPL, which owned much of the generating resources, deliberately withheld power from the market, resulting in the spike.

Pennsylvania and New Jersey suppliers offering power supply in competition with the existing utilities in those states have fared poorly, with many not owning their own generating assets. In Pennsylvania, 38 percent of 96 such suppliers have exited the market, and in New Jersey, 12 out of 26 still serve the state.
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