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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

Wind Power Tax Cut Extended

LCG, March 12, 2002-Legislation signed Saturday gives power producers a two year extension on a wind energy tax cut, the Production Tax Credit(PTC).

Applauded by the U.S. wind power industry, the tax cut will hopefully support further growth in wind power, which has stagnated after a year of record growth in 2001. The cut affects about $3 billion in wind energy projects, $1.7 billion of which were installed last year.

Trade groups say that inconsistent legislation has set U.S. wind energy behind that of Europe but hope to bring wind energy from 0.5 percent to 6 percent of total U.S. energy production by 2020.

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