Impacts of COVID-19 Virus on Electricity Demand

LCG, March 27, 2020 -- Jeremy Platt, an energy scientist, Palo Alto has made some early analysis of impact of COVID -19 on electricity demand using the grid operators data published by LCG. Data from several areas of the country offer early and near real-time views of impacts of the economic slowdown due to evolving regional and statewide coronavirus mitigation strategies.

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California PUC Targets Doubling Renewable Energy by 2030

LCG, March 27, 2020--The California Public Utilities Commission (CPUC) yesterday unanimously approved a new emissions target for its electric sector that would double California's clean energy capacity through 2030 and effectively block new natural gas-fired electric generating facilities.

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Industry News

FERC Okays PG&E Plan to Protect Non-utility Assets

LCG, Jan. 15, 2001The Federal Energy Regulatory Commission has approved a plan by PG&E Corp. to make changes in its corporate structure which would shield the bulk of its assets from the credit problems of its Pacific Gas & Electric Co. subsidiary, the Wall Street Journal reported this morning in its on-line edition.

The paper said there were no challenges to the proposal which was announced in a public notice issued on December 28. Consumer advocates said they were unaware that PG&E had made the filing with FERC.

Mike Florio, a lawyer with TURN (The Utility Reform Network, ne Toward Utility Rate Normalization), said he was "astonished" that FERC had approved the company's request without consulting the California Public Utilities Commission.

Alan Glover, the company's bankruptcy attorney, said the idea of the restructuring is "to protect the equity value" of the nonutility parts of PG&E Corp. "so they have independent credit vitality." He said the reorganization was a "neutral act" for utility creditors.

The plan calls for PG&E Corp. to set up a new company that will hold all of the parent corporation's nonutility assets. PG&E Corp. would appoint a seven-member board of control and received all of the new entity's profits.

Credit rating firm Standard & Poor's reacted favorably to FERC's action, noting that the new structure would "ring-fence" PG&E Corp.'s unregulated power trading and merchant power subsidiaries in the event of bankruptcy being forced upon Pacific Gas & Electric.

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