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

Attorney General Files Lawsuit Charging California Companies

LCG, March 12, 2002-Yesterday Attorney General Bill Lockyer went through with his plan to file civil suit against California energy companies. Lockyer accused four companies of swindling Californians by selling them emergency energy that was never provided. "They sold emergency generating capacity to the California Independent System Operator (ISO), which is responsible for maintaining the western power grid, then turned around and sold the same power capacity into the lucrative spot market for wholesale electricity." Lockyer said these companies sold the same power twice at least 20,000 times.

Dynergy Inc., Reliant Energy Inc, Mirant Corp., and Williams Energy Marketing and Trading Company were sued for over $150 million, not much in comparison with the alleged $28 billion worth of overcharges in the spot and longterm markets. However Lockyer says they are only the first and that the whole market will come under scrutiny.

This lawsuit is especially unusual because it was filed in state court instead of federal court or before the Federal Energy Regulatory Commission. Lockyer said he chose to file civil instead of criminal charges because the state might then be able to retrieve lost money.

Spokesmen from Dynergy, Mirant and Williams asserted that they had always behaved responsibly and that as yet no proof has been disclosed.

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