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

Japanese Approve New 2,740 Megawatt Nuclear Plant

LCG, May 16, 2001A panel of the Japanese Economy, Trade and Industry Ministry this morning approved plans to build a large, new nuclear power plant near Hiroshima in southern Japan.

Nuclear development in Japan, which gets about a third of its electricity from nuclear plants, has been at a standstill since an accident at a fuel processing plant in Tokaimura killed two workers in 1999.

Koichi Sakamoto, a spokesman for the ministry, said the approval by the electric power panel is expected to be officially endorsed by the ministry next month. He added that Chugoku Electric Power Co., which will operate the plant, had worked with local governments and had obtained the backing of residents in Yamaguchi prefecture.

Chugoku plans to build two 1,370 megawatt reactors at the site in Kaminoseki, the first to be completed in 2012 and the second in 2015.

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