EIA Publishes Study on High Renewables Growth Impact in WECC Markets using UPLAN

LCG, July 19, 2024 – A working paper published by the U.S. Energy Information Administration (EIA) utilized the UPLAN model to study the impact of high renewables growth in the Western Electric Coordinating Council (WECC) markets.

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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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Industry News

Enron's Former CFO Andrew Fastow in Plea Deal

Jan. 14, 2004--Federal prosecutors, Andrew Fastow, former chief financial officer of Enron Corp., and his wife, Lea Fastow, have reached agreements on guilty pleas and prison terms to be served by the Fastows that bypass the need for full-blown trials.

Fastow gave a statement in which he said of partnerships that he organized, that he "and other members of Enron's senior management fraudulently manipulated Enron's publicly reported financial results. Our purpose was to mislead investors and others about the true financial position and Enron and, consequently, to inflate artificially the price of Enron stock and maintain fraudulently Enron's credit rating."

While the 42-year-old could have served as much as 25 years based on a 98-count indictment, the deal with the Justice Department means that he will serve a sentence of 10 years based on two criminal charges, and hand over $29 million in penalties. Lea Fastow will serve a minimum of five months, up to sixteen months, for a criminal tax charge.

Mr. Fastow is said to have already provided officials with evidence that implicates Jeffrey K. Skilling in having participated in certain accounting decisions, although the nature of the behavior is not yet clearly grounds for prosecution.

It is possible that Skilling, the former chief executive, could be charged in a few weeks, given that the development of the government's investigation has been built on other plea deals, involving less senior executives such as Michael J. Kopper, who supported a case against Fastow.

The top Justice Department official within the Enron Task Force, Leslie Caldwell, said of Fastow, "Whatever knowledge that he has of who did what and who knew what at Enron will now be our knowledge."
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