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News
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LCG, August 14, 2024 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2025, highlighting the region's rapid transition toward increased reliance on renewable energy resources and battery storage.
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LCG, August 14, 2024 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2025, highlighting the region's rapid transition toward increased reliance on renewable energy resources and battery storage.
Read more
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Industry News
S&P, Fitch Slash PG&E, SoCal Edison Credit
LCG, Jan. 5, 2001Standard & Poor's and Fitch lowered the credit ratings of California's two largest electric utilities yesterday following action by the state's Public Utilities Commission that will allow the companies to raise their retail electricity rates by one cent per kilowatt-hour.Fitch dropped the ratings of Pacific Gas & Electric Co. and Southern California Edison Co. deep into junk bond territory but S&P was a little less harsh, saying it was "premature" to post a rating for the utilities that would place them in default with their lenders."If we do that, we're saying we're at the end and there's no way out for these utilities," said S&P analyst Richard Cortwright. "We haven't given up and we're seeing positive signs of legislative action."California Gov. Gray Davis on Wednesday called a special session of the state Legislature to address the mess that has been made of state's electric industry restructuring program. A special session allows any legislation passed by a simple majority to become effective immediately, without the need for the two-thirds vote ordinarily required.Moody's has not yet announced a ratings decision. As the two major credit rating institutions, Moody's and S&P's credit ratings are built into loan covenants with major banks. If their credit ratings were dropped to the level of that of Fitch, the utilities would be in default on much of their short-term debt.PG&E said the low rating by Fitch would not affect the company's bank-loan covenants.Even so, their debt crisis has shut the two utilities out of the debt capital markets. In the California Legislature's special session, the companies are expected to lobby for a special issue of bonds backed by the State Infrastructure and Economic Development Bank.Those bonds would not be a taxpayer "bailout" of the utilities in that they would be responsible for the debt, not the state. The money would be used to buy power for delivery to customers who would be obligated to pay for it later through a surcharge on their bills.The word "bailout" has been used carelessly by populist groups who see any rate increase for the utilities as such. However, from the utilities' point of view, they are the victims of an electric customer "bailout" which they have financed.
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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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