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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

Consumer Rights Advocates File Suit for Lower Rates in Texas

LCG, March 11, 2002-In Travis county, Texas, a consumer advocacy agency has filed a suit against the Texas Utility Panel, asserting that rates have been artificially inflated.

The Texas Public Utility Commission insists that all legal guidelines have been followed regarding electricity prices, and power companies say rates are fair. However, regulators promised a 6 percent rate reduction when deregulation began in 1999, and consumers have experienced a 3.6 percent increase in their rates instead. Lawsuits filed on Wednesday address this and an extra fee charged by the Texas Utilities Panel(TXU) and West Texas Utilities Company.

Apparently, unrealistic maintenance and scheduling costs had been included in this extra fee. Agency member for the counsel Clarence Johnson demonstrated this excessive charge by explaining that the scheduling fees alone would require 20 people working at $200 per hour for 2,000 hours.

Although consumer groups believe that rates have been increased due to deregulation, the TXU still insists upon the fairness of the benchmark rate decided upon by the state.

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