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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

California Delays Electricity Regulation Votes Again

LCG, March 7, 2002- California state power regulators postponed decisions on two energy regulation proposals yesterday.

The California Public Utilities Commission's Commissioner Carl Wood's proposal prohibits energy customers from renewing contracts, possibly forcing energy sellers out of California. A less extreme plan is that of Commissioner Jeff Brown's, which employs an "exit fee," enabling outside contracts to continue while charging a fee which would go to relieve some of the state's debt due to power purchases.

While many of the over 80,000 Californian businesses who opted to buy electricity from competitors saved a lot of money, consumers and some lawmakers insist businesses should buy electricity from the state so that residential and small business customers do not have to put up with higher energy prices. Others who support consumer choice applaud Brown's plan.

Wednesday's vote has been delayed until March 21st.

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