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

Iowa Power Plant Legislation Dies

LCG, May 9, 2001The Iowa House adjourned yesterday on the 121st day of the 2001 session at 5:49 p.m. and the Senate followed at 6:30 p.m. Dying with the session was legislation aimed at making the state self sufficient in electric power generation.

Republican leaders said they were not able to round up enough votes in the state Senate's last hours to pass a bill sought by utility companies that would have encouraged the building of more power plants in Iowa.

Christopher Rants of Sioux City, Majority Leader of the Iowa House, had said earlier "If we don't get it done, we're closer to having rolling blackouts in this state."

Supporters of the bill, which would have removed many restrictions on joint financing of plants by municipal utilities, charged that special-interest groups were spreading false information in an attempt to discredit the proposal, and they may have something.

Critics raised environmental concerns and warned that the legislation could set the stage for the closing of existing plants in favor of higher-profit new plants. They also questioned a provision allowing the state's two largest investor-owned utilities to buy energy on contract from an affiliate that owns the new plant and sells at unregulated wholesale prices.

State Sen. JoAnn Johnson, chairwoman of the Iowa Senate Commerce Committee, conceded that prices will increase as more plants are built, but warned that consumers will pay a much steeper price for their electricity if steps aren't taken now to provide Iowa with a dependable power supply in the future.

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