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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

CA ISO Will Receive FERC Monitors

LCG, Sep. 30, 2002--The Federal Energy Regulatory Commission (FERC), after allowing for a month's delay of an increase of the wholesale price cap in California, will oversee the California Independent System Operator with two senior on-site officials.

The price cap had been scheduled to increase tomorrow from $250 per megawatt-hour from the current $91.87 per MWh, but will instead be changed on Oct. 30, following testing of a computer program meant to detect possible attempts at market manipulation. The officials from FERC, characterized as "two senior market oversight people," are likely to represent a measure to be duplicated "everywhere," according to the FERC Chairman, Pat Wood. He dismissed the suggestion that the officials are being sent in connection with the FERC's order that the current CA-ISO board be dissolved.

While the state's governor, Gray Davis, has criticized the lifting of the California cap to a higher level as giving an opening to generators to profit unreasonably, in his view, Wood pointed out that California's cap is below similar caps in other parts of the country, and would represent a step to encourage new supply in the state.

During remarks at a regional business forum in Los Angeles, Wood said that last week's finding by a FERC administrative judge that subsidiaries of El Paso Corp. had withheld large amounts of natural gas from California could result in in "disgorgement of profits," or a withdrawal of the company's right to trade. He and other commissioners will likely examine the substance of the ruling within the next two months.
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