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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

Companies Receive Subpoenas from San Francisco U.S. Attorney

LCG, Nov. 11, 2002--The U.S. Attorney's office in San Francisco has issued subpoenas to four energy companies who conduct business in the California energy markets, the companies announced today.

The subpoeanas are part of a grand jury investigation. The companies have said that the subpoenas concern their activity in California markets. Currently, multiple investigations focussing on the companies are being conducted by federal agencies, including the Federal Energy Regulatory Commission, the Commodities Futures Trading Commission and the Securities and Exchange Commission. Of those making the announcement - Duke Energy Corp., William Cos., Reliant Resources Inc. and Mirant Corp. - none has so far been the subject of substantial findings.

The U.S. Attorney's office in San Francisco last month charged the former top trader at Enron, Timothy Belden, with conspiracy to commit wire fraud. Belden, who said he would cooperate with prosecutors, has admitted engaging in trading behavior which allowed his trading unit to extract high profits based on the California market design. In some cases, Belden was to admit that power from California was sold outside California, to parties who then re-sold at uncapped, out-of-state prices.

The companies have denied engaging in improper trading activity, and have said that the cause of California' energy crisis was in fact a shortage of supply.
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