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

Judge Sets Date for Vote on Bankrupt PG&E

LCG, March 27, 2002-June 17 is the tentative date for ballots to be sent to PG&E creditors, as chosen by U.S Bankruptcy Judge Dennis Montali. Creditors will be given an opportunity to vote on how PG&E's bankruptcy will be dealt with.

Two plans have been proposed regarding how to facilitate PG&E's emergence from bankruptcy. The company has an estimated $13.2 billion debt and filed for bankruptcy protection in April of last year.

PG&E suggested redistributing many of its assets into newly created subsidiaries. It plans to have 3 of four new companies answer to the more lenient Federal Energy Regulatory Commission (FERC) instead of the California Public Utilities Commission (PUC).

The PUC formulated an alternate plan based on refinancing, similar to what was done to bail out Southern California Edison. The PUC also wants to keep PG&E's hydro and nuclear power under state oversight.

While no dates have been solidified, the vote should allow PG&E to come out of bankruptcy by its 2003 goal.

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