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

Senators Seek Waste Disposal Budget Cuts

LCG, March 20, 2002-Senator Harry Reid said he may limit the nuclear waste disposal budget, which includes the Yucca Mountain project.

In a hearing on Friday Senator Reid and Senator Pete Domenici said to expect Congress to cut the nuclear waste disposal budget.

Attempts to slow the budget may prevent the government from moving on the Yucca Mountain project, which was already approved by President Bush. According to the Las Vegas Review, those involved with the project say they have had to delay applying for a license with the Nuclear Regulatory Commission until 2004.

In 2001 Senator Reid created an energy bill decreasing the nuclear waste disposal budget by 38 percent or about $170 million. His proposed decrease in spending was not passed and $375 million was allotted, still less than the $445 million requested and the eighth consecutive annual decrease in the nuclear disposal budget.

The Yucca Mountain repository is slated to open in 2010.

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