Lazard Gains on Cost of Energy Report

Lazard Inc. (NYSE: LAZ) opened Monday on the upside, on the release of the 18th edition of its Levelized Cost of Energy+ (LCOE+) report, a widely-cited, annual analysis that provides insights into the cost competitiveness of various energy generation technologies. The report explores key aspects of energy generation, energy storage, and system-level considerations while reflecting on developments over the past 12 months.“In today’s rapidly evolving energy landscape, the relevance of data-driven decision-making has never been more critical and the LCOE+ serves as an invaluable resource for industry stakeholders, policymakers, and investors,” said George Bilicic, Vice Chairman of Investment Banking and Global Head of Power, Energy & Infrastructure, Lazard.The Report touches on Renewables Remain Competitive: Unsubsidized Wind & Solar Lowest Cost Generation Sources for Last 10 YearsDespite facing macro challenges and headwinds, utility-scale solar and onshore wind remain the most cost-effective forms of new-build energy generation on an unsubsidized basis (i.e., without tax subsidies). As such, renewable energy will continue to play a key role in the buildout of new power generation in the U.S. as the lowest-cost and quickest-to-deploy generation.Increased Cost of Gas-Fired Generation: Gas-Fired Generation Reaches 10-Year High LCOE. While persistent low gas prices, high energy demand and increasing renewable LCOEs have resulted in the continued cost competitiveness of operating existing baseload gas generation, the cost of building a new combined cycle gas turbine has reached a 10-year high. LAZ shares captured 65 cents, or 1.5%, to $43.78.