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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

AEP, Power Agency to Expand Texas Grid

LCG, May 24, 2001American Electric Power Co. and the Lower Colorado River Authority yesterday reached a tentative agreement to spend $500 million over the next five year to expand the electric power transmission system service southwestern Texas.

The program, which will require approval by the Public Utilities Commission of Texas, is aimed at improving capacity on the system to accommodate 27 new power plants that will add 14,000 megawatts of generation to the Texas grid in the next few years.

The joint venture, which was approved by the LCRA's directors yesterday, expects to have a final agreement in place next month. Robert Cullick, a spokesman for the LCRA, said "We expect to have a final negotiated contract in June and hope to start construction on specific projects by the end of the summer."

In an assessment of transmission systems earlier this year, the North American Electric Reliability Council said Texas' transmission grid, though in better shape than those in California and New England, was in need of improvement. Cullick agreed, saying "There are some bottlenecks. By expanding existing lines and building new ones we hope to relieve some of these bottlenecks."

In addition to expanding capacity on existing lines and building new ones, the program calls for upgrading substations, adding new connections and making other improvements.

Under the joint venture between AEP and LCRA, the Authority will own the new facilities and AEP will operate and maintain them. Because of its tax-exempt status, LCRA will be able to finance the improvements at lower cost than could a private company.

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