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

Washington Okays Avista Cost Recovery Plan

LCG, May 25, 2001--The Washington Utilities and Transportation Commission has approved an unopposed settlement agreement reached last month between Avista Corp., the staff of the WUTC, the Public Counsel Section of the Washington Attorney General's Office and the Industrial Customers of Northwest Utilities.

Under the agreement, Avista will be able to extend to February 2003 a deferred accounting method that will allow it to weather a period of power shortages without increasing rates to its customers, the company said this morning.

Avista said it expects to be in a surplus power position next year and the revenues from surplus power sales are expected to offset power costs the company has been incurring since July of last year. The company said it anticipates reducing the power-cost deferral balance to zero by the end of February 2003.

In its order, the commission said "Our approval of the Settlement Stipulation offers significant potential that Avista will not seek any increase in rates to its customers related to power supply costs despite the volatility of wholesale power markets in our region during recent periods."

Gary G. Ely, Avista's chief executive, said his company has "worked extremely hard to shield our customers from the substantial electric rate increases that others throughout the region are already experiencing."

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