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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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Dominion Energy Virginia Pursues 500 MW of Renewable Projects

LCG, August 8, 2019--Dominion Energy Virginia announced Monday that it is seeking bids for up to 500 MW of renewable capacity in both 2021 and 2022 to increase its clean energy resources. Dominion Energy stated that it is committed to having 3,000 MW of solar and wind in operation or under development in Virginia by 2022. This near-term step is part of an ultimate company commitment to reduce carbon emissions by 80 percent by 2050 across the 18 states it serves.

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Industry News

Walmart and EDPR Announce PPAs for 233 MW of Wind Energy

LCG, October 18, 2018--Walmart and EDP Renewables (EDPR) announced Tuesday three power purchase agreements (PPA) for electricity generated from three utility-scale wind farms that will be developed, owned and operated by EDPR. The total electric generating capacity from the three new projects to be installed in Illinois and Indiana is 233 MW.

Walmart's Vice President of Energy stated, "Walmart has a goal to be supplied by 100 percent renewable energy and sourcing energy from wind farms developed by partners like EDP Renewables is a core component in the mix. Wind energy is an important part of our energy portfolio, and Walmart plans to continue our efforts to pursue renewable energy projects that are right for our customers, our business, and the environment."

The CEO of EDP Renewables North America said, "The declining cost of renewable power has led to an increase in clean energy procurement from companies like Walmart in recent years. The continued commitment from corporate entities in procuring renewable energy speaks volumes about the importance and value of securing fixed, competitive pricing over the long-term. EDP Renewables appreciates its partnership with Walmart and commends the company in its efforts to source all of its energy from renewable sources."

The Bright Stalk Wind Farm will provide 123 MW of capacity. The wind farm is a 205 MW project in McLean County, Illinois, scheduled to commence operations in 2019; this PPA is a part of the announcement EDPR issued on July 3, 2018.

The second project is the Headwaters II Wind Farm that will provide 60 MW of capacity. This wind farm is a 200 MW project in Randolph County, Indiana, with operations expected to start in 2020. This PPA is a part of the announcement EDPR also issued on July 3, 2018.

The third project is the Harvest Ridge Wind Farm, formerly Broadlands Wind Farm, which will provide 50 MW. The project is a 200 MW project in Douglas County, Illinois, with operations expected to start in 2019. This PPA is a part of the announcement EDPR issued on May 10, 2018.

EDPR currently operates 797 MW of wind energy projects in Illinois and 801 MW of wind energy projects in Indiana.
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