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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.

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Industry News

Collins Plant to Be Shut Down

LCG, May 28, 2004--An increasingly uncompetitive gas- and oil-fired generating plant located in Illinois, 60 miles southwest of Chicago, will be shut down after it fulfills contractual obligations through the end of the year, according to owner Midwest Generation.

The Collins plant was purchased by Midwest Generation from utility Commonwealth Edison in 1999, which continued to serve customers with output from the plant by signing long-term agreements with Midwest. Recently, Exelon Corp. has exercised fewer and fewer options it had purchased allowing it to obtain power from Collins, which led Midwest Generation to shut down two of five units at the plant in 2003.

Collins, built in the 1970's, has become less competitive due to the rise in natural gas prices since 1999. Edison Mission Energy, the corporate parent of Midwest Generation, as well as Midwest Energy Holding Company, an Edison Mission affiliate, have agreed with Midwest Generation that the best course of action will be to decommission the facility. At the same time, the six coal-fired plants owned by Midwest Generation have profited from the rise in the price of natural gas.
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