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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

Enron to Sell Stakes in Two Brazil Gas Distributors

LCG, May 1, 2001Brazil's state-run oil company Petrobras said yesterday that it had agreed with U.S. energy conglomerate Enron Corp. to buy Enron's interests in two Rio de Janeiro natural gas distribution companies.

Petrobras said in a news release that it had signed a deal on Sunday to buy Enron's 25.38 percent stake in Cia Distribuidora de Gas do Rio de Janeiro that distributes gas in the city of Rio de Janeiro, and 33.75 percent in CEG-Rio that serves Rio de Janeiro state.

The Brazilian petroleum company said it has agreed to the acquisitions "along with other investors," which could mean its Petros pension fund. Sources in Brazil said the purchases could be evenly split between the two in order to avoid the two gas distributors becoming technically "re-nationalized." They were privatized in 1997.

The government's BNDES development bank has a 34.5 percent interest in the Rio city distributorship and BR Distribuidora already owns 25 percent of CEG-Rio.

Even without the two Rio de Janeiro companies, Enron will have a significant presence in Brazil through its Gaspart subsidiary, which controls natural gas distribution firms in seven Brazilian states.

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