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

Bush Pushes Conservation as Part of Energy Plan

LCG, May 14, 2001President Bush on Saturday stressed conservation through new technology as an important element of his energy policy, but stopped short of calling on Americans to sacrifice, as President Carter did during the energy crunch of the 1970s.

"Some think conservation means doing without," Bush said in his weekly radio talk. "That does not have to be the case." The remark seemed to soften an administration position taken by Vice President Dick Cheney, who is heading an energy team that plans to release its report Thursday.

In a recent speech, Cheney said "Conservation may be a sign of personal virtue, but it is not a sufficient basis for a sound, comprehensive energy policy."

Bush said that technology and tax breaks will provide the means and the incentive for conservation. "Over the long term, the most effective way to conserve energy is by using energy more efficiently," he said. "Pushing conservation forward will require investment in new energy technology, and that will be part of my administration's energy plan."

Bush's plan would provide tax incentives to encourage the use of more energy-efficient facilities and expand federal programs that encourage energy efficiency in office buildings to include others such as retail stores and shopping centers, hospitals and even homes.

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