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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

Quandary over Unfinished Enron Plant in India

LCG, July 16, 2002-Indian lenders are considering seizing the unfinished 2,184 MW Dabhol plant, although many claim the move would be disastrous.

The $2.9 billion Dabhol plant is Enron's most valuable still unfinished asset and was scheduled to be finished in May last year. It is located 90 miles south of Bombay on the Arabian Sea.

740 MW began operations in 1999, but Enron stopped construction before the second 1,444 MW stage was completed because the Maharashtra State Electricity Board, the domestic electricity distribution monopoly, was late in $240 million worth of payments. Seven months later Enron collapsed.

Some 30 financial bodies lent $1.9 billion to the project, and domestic lenders are interested in obtaining court approval to seize the plant in order to sell it and recover losses.

Foreign officials call the idea disastrous because Enron took blueprints and other operation-related documents, and anyone attempting to run the plant without such information would be unable to acquire insurance. Additionally the plant is in poor shape from "rusting away in the jungle" for a year, according to a Reuters interview.

Enron owns 65 percent of Dabhol Power Company, while American companies General Electric and Bechtel each own 10 percent. The project is insured for $220 million in political risk by Overseas Private Investment Corp., which also lent an additional $150 million to Dabhol.

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