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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

El Paso Corp Planning to Sell Assets, Cut Dividends

LCG, February 6, 2003-The El Paso Corporation announced plans yesterday to get rid of $2.9 billion in assets, in addition to drastically shrinking dividends.

El Paso controls over 57,000 miles of natural gas pipeline, natural gas production assets, and liquid natural gas assets. Company officials announced that it will likely cut annual dividends nearly 82%, from 87 cents to 16 cents per share.

Additionally, the company intends to sell $2.9 billion in assets and cut its spending by $1.4 billion. El Paso has set a goal of reducing costs by $150 million.

The company has $2.6 billion in liquidity, although it owes $1 billion in debt, due this March, and much of its credit line may have to be used to meet prior obligations.

El Paso sold $3.9 billion in assets last year and intends to sell petroleum assets, in addition to getting out of the liquid natural gas (LNG) business. The company has noted its intention to concentrate on its core, pipeline businesses.

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