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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

FERC Issues Preliminary Permit for 1,200-MW Southeast Oklahoma Pumped Storage Hydroelectric Project

LCG, March 5, 2019--The Federal Energy Regulatory Commission (FERC) issued a preliminary permit to Southeast Oklahoma Power Corporation to study the feasibility of the proposed Southeast Oklahoma Pumped Storage Hydroelectric Project. The electric generating capacity of the proposed energy storage facility would be 1,200 MW. The project site is located on the Kiamichi River near the town of Whitesboro in LeFlore County, Oklahoma. The project includes a 124-mile-long transmission line to connect to the Electric Reliability Council of Texas (ERCOT) grid.

The purpose of a preliminary permit is to study the feasibility of the project, including studying potential impacts. The permit was effective March 1, 2019.

The Southeast Oklahoma Pumped Storage Hydroelectric Project is intended to provide utility-scaled energy storage capabilities to complement the growth of wind farms that intermittently generate electricity within the day throughout the year. The project will pump water from the lower reservoir to the upper reservoir at times when power prices are relatively low. When power prices are high and energy is needed, water will be released from the upper reservoir through the power tunnel to the powerhouse to generate electricity. This will occur based on hourly power prices, the need to augment the production of local renewable wind power generation, or to provide ancillary power services.

To move the water between the reservoirs, the project design includes four reversible pump-turbine units with a combined electric generating capacity of 1,200 MW. The proposed upper reservoir will have a surface area of 488.52 acres and a storage capacity of 43,633 acre-feet; the lower reservoir will have a surface area of 727 acres and a storage capacity of 37,965 acre-feet. A regulating reservoir will be included, with a surface area of 40 acres and a storage capacity of 1,216 acre-feet. The proposed project has an estimated average annual generation of over 4,300,000 MWh.
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