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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

PetroChina Still Pushing for 2004 Gas Pipeline

LCG, March 14, 2002-Despite international outcry, China seeks to finalize a joint venture with Shell to build an $18 billion gas pipeline.

China plans to have the pipeline reach from northwestern Xinjiang to Shanghai by 2004, a project spanning the entire length of China. Many other international oil giants are involved with the project and are represented by Shell, including Exxon/Mobil and British Petroleum, the latter of which faced much public criticism because of its Chinese holdings.

The project will transport over 12 billion cubic meters of gas per year from western provinces to the much more populated areas of Shanghai and the Yangtze River Delta.

The process of building the pipeline has and will bring many Chinese into areas previously inhabited by minority groups such as Buddhist Tibetans and Muslim Uiygers. The influx of Han Chinese into the desert and Tibetan Plateau has already had a significant impact upon the lives of these people, and critics of the pipeline have voiced concerns that minorities may face much more than increasing population. International protest has been made worldwide regarding the treatment of Chinese minorities, and many people oppose the building of the pipeline as well as China's search for oil reserves in western China.

Petrochina controls seventy percent of China's known gas reserves and expects a ten percent annual gain in production in coming years.

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