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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

Duke Proposes Settlement with Carolinas Over Regulated Profits

LCG, Oct. 25, 2002--Profits earned by Duke Energy Corp. through its regulated operations were understated to regulators by $123.6 million from 1998 through 2000, according to a report by auditor Grant Thornton LLP.

According to the auditor, Duke represented its rate of return to the North Carolina Utilities Commission and the South Carolina Public Service Commission (PSC) as lower than that it reported in financial statements to the investment community or the Securities and Exchange Commission. The report, for which information was sought beginning in January, found that accounting entries which lowered pretax operating income were "contrary to applicable accounting practices, industry practices and Duke's past practices."

Duke has said that Grant Thornton's analysis of accounting adjustments and changes "inappropriately characterizes the business process followed, the accounting decisions made and the intent of our employees." It has said that even if accounting entires cited in the report are taken into consideration, the company's rate of return was not far different from that allowed by North Carolina.

Duke has proposed a settlement with the public utility commissions of North Carolina and South Carolina, including a $19 million charge for the fourth quarter. The proposal will be considered early next week by the two state commissions.
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