Connecticut Seeks 2,000 MW of Offshore Wind Capacity

LCG, August 22, 2019--The Connecticut Department of Energy and Environmental Protection (DEEP) on Friday released a request for proposals (RFP) for offshore wind power projects. DEEP is seeking up to 2,000 MW, as required under Public Act 19-71, An Act Concerning the Procurement of Energy Derived from Offshore Wind.

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EIA Publishes Regional Electricity Supply and Pricing Forecasts Using UPLAN Model

LCG, August 13, 2019--The U.S. Energy Information Administration (EIA) announced that it is revising the presentation and modeling of its forecasts for electricity supply and market hub pricing to better reflect current electricity markets and system operations in the U.S. Beginning with the August 2019 Short-Term Energy Outlook (STEO), the new forecasting approach models electricity markets using the UPLAN production cost optimization software developed by LCG Consulting. EIA uses the solution results provided by this proprietary model to develop the STEO forecasts of monthly electricity generation, fuel consumption, and wholesale prices.

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Industry News

Investment Banks Entering into More Energy Trading

LCG, June 3, 2004--Electricity, oil and natural gas are appearing on the balance sheets of an increasing number of New York-based investment banks, as they try to help clients overcome weakened credit ratings as well as profit from volatility in the prices of those commodities.

According to the Wall Street Journal, Citigroup Inc. has added oil specialists to its ranks, while Goldman Sachs Group Inc. and Morgan Stanley have signed contracts that they are backing up with acquisitions of fuels and electricity. They are trading on the commodities, and making markets for industries with large fuel consumption, such as airlines, as well as for speculative traders such as hedge funds.

TXU Corp. has entered into a joint venture with Credit Suisse First Boston, which has a stronger credit rating, to trade natural gas and electric power. Such partnerships may increase in number as investment banks seek to enter businesses different from their traditional roles, and energy companies recover from their aggressive capital outlays to build power plants a few years ago.
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