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News
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LCG, September 30, 2025--Vistra Corp. announced yesterday that it will proceed with the next phase of its capital plan to support grid reliability in Texas. In 2024, Vistra identified over $1 billion worth of potential capital additions in generation capacity within the Texas ERCOT market by 2028 if market conditions were supportive. Now, with West Texas' growing power requirements, particularly the state's expanding oil and natural gas industries, Vistra reached a final investment decision and confirms it will build two new advanced natural gas-fired power units on-site at its Permian Basin Power Plant.
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LCG, September 24, 2025--Electric Reliability Council of Texas Inc. (ERCOT) yesterday announced its new initiative to increase its efforts to fully use and apply innovation and transformation through industry collaboration to best overcome the challenges and opportunities facing future grid operations. The new Grid Research, Innovation, and Transformation (GRIT) initiative will advance research and prototyping of emerging concepts and solutions to better understand the implications of rapid grid and technology evolution and position ERCOT to lead in the future energy landscape.
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Industry News
Enron's Short-term Trading Carried Outsized Risk
LCG, Dec. 12, 2002--During 2000 and 2001, the risks and rewards of Enron's energy trading operations grew quickly, well beyond what any comparable trading operation might have expected, according to internal records and interviews with former executives obtained by the New York Times.According to profit-and-loss statements within the company, Enron's traders made bets that resulted in over $100 million in profits being realized on at least 17 single days. The company's communications with analysts tended to downplay the degree of speculation inherent in bets on the direction of natural gas and electric power prices. Much of the trading was conducted by Enron with affiliates such as Portland General Electric, in what may have been an effort to boost price levels.Approximately $1.3 billion in net trading profits were realized in 2001 from gas and power trading on the West Coast. Kenneth Lay said in an interview in March of 2001, "We're basically making markets, buying and selling, arranging supplies, deliveries. We do not, in fact, speculate on where markets are headed."Following a profit of $485 million recorded for Dec. 4, 2000, a loss of $550 million took place on Dec. 12, after natural gas prices fell. Losses of $1 billion accumulated over that and two other days that month. Moody's Investors Service grew concerned at the size of that particular loss, which exceeded the company's risk limits, and as such, had to be reported to the board. The rating agency did not downgrade the company's debt, following a presentation by Richard Buy, the chief risk officer.Traders reportedly convinced board members that the risk being assumed was worth the potential profit. Enron's value-at-risk limits, representing the amount of loss considered tolerable within a single day, were raised from $80 million to $140 million towards the end of 2000. Currently, the company's former top trader, Timothy Belden, is cooperating with federal investigators, and has pleaded guilty to wire fraud for manipulating Western energy prices.
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UPLAN-NPM
The Locational Marginal Price Model (LMP) Network Power Model
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UPLAN-ACE
Day Ahead and Real Time Market Simulation
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UPLAN-G
The Gas Procurement and Competitive Analysis System
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PLATO
Database of Plants, Loads, Assets, Transmission...
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