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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

U.S. Senate Votes NERC over FERC

LCG, March 15, 2002-Yesterday the U.S Senate voted to yield authority over blackouts and other electricity grid disruptions to regional officials, not federal regulators.

The Senate voted between two amendments regarding energy regulation, resulting in a plan that allows reliability enforcement to remain in the hands of the North American Electric Reliability Council (NERC), which is divided into ten regional councils.

The amendment, presented by Wyoming Senator Craig Thomas (Rep), requires utilities to follow rules created by NERC rather than by the Federal Energy Regulatory Commission (FERC).

Democrat and Senate Energy Committee Chairman Jeff Bingaman had offered a plan which gave FERC primary power in certain capacities. Northeast transmission-grid operators and many in industry supported the Democratic plan and voiced concerns that the alternative plan would lead to too much red tape.

Republican senators, as well as public utility commissioners, rejected the idea of Federal authority, saying that the plan would not allow the states enough freedom to attend to energy issues effectively.

Whether or not the measure will become law has yet to be determined.

The senate also discussed how much renewable energy should be required in total energy production; plans vary from deleting all mention of renewables to requiring 20 percent by 2020.

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