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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

FPL Announces Plans for 409-MW Battery Storage System

LCG, April 3, 2019--Florida Power & Light Company (FPL) recently announced a plan to build the world's largest solar-powered battery system, the Manatee Energy Storage Center, as part of a modernization plan to accelerate the retirement of two, 1970s-era natural gas generating units at FPL's neighboring Manatee Power Plant.

The planned 409-MW FPL Manatee Energy Storage Center is scheduled to begin serving customers in late 2021 and will be charged by an existing FPL solar power plant in Manatee County. The battery storage system will be able to store 900 MWh of electricity, or about the energy necessary to power 329,000 homes for 2 hours, according to FPL. The battery storage complements the solar power that is generated intermittently during the day.

The president and CEO of FPL stated, "This is a monumental milestone in realizing the full benefits of solar power and yet another example of how FPL is working hard to position Florida as the global gold standard for clean energy. Even as we aggressively execute on our plan to install 30 million solar panels by 2030, we never lose sight of finding innovative ways to bring our customers the benefits of solar energy, even when the sun's not shining. Replacing a large, aging fossil fuel plant with a mega battery that's adjacent to a large solar plant is another world-first accomplishment and while I'm very pleased of that fact, what I'm most proud of is that our team remained committed to developing this clean energy breakthrough while saving customers money and keeping their bills among the lowest in the nation."

In addition to the 409-MW energy storage system in Manatee County, FPL is planning smaller battery installations across the state, numerous solar power plants and efficiency upgrades to existing combustion turbines at other power plants to replace the 1,638 MW of generating capacity provided by the units to be retired. FPL estimates the project will save customers more than $100 million and eliminate more than 1 million tons of carbon dioxide emissions.
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