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

Texas Companies Admit Overscheduling

LCG, March 27, 2002-The names of five of the six Texas companies allegedly involved in overscheduling last year were made public on Monday.

Republican legislator Steve Wolens called on the Texas Public Utilities Commission to release the names of companies being investigated.

The sixth company cites market rules and refuses to publicly announce itself, although according to the Dallas Morning News, speculation has been focused on Enron as a likely candidate.

The other five companies are American Electric Power Company, Reliant Energy Inc., Mirant Corporation, Constellation Power Source, and TXU Corporation.

These five companies insist that overscheduling was accidental. Reliant says that the financial implications of their actions are insignificant. Mirant and Constellation have not commented on the size of their mistakes, and TXU announced Friday that it overscheduled by 5 percent and had refunded the $4 million it made from that 5 percent.

The Texas Public Utilities Commission says that the overscheduling has not had any serious effects on consumers. However, since providers are charged for congestion by market share, penalties could be unfairly allotted.

DD> Investigations of last year's market inconsistencies are ongoing.

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