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

Finnish Nuke Moving Ahead

LCG, March 20, 2002-While the rest of Europe seems to be abandoning nuclear energy, Finland approved its fifth nuclear plant.

The parliament has yet to sanction the new plant, but the Finnish government voted 10 to 6 to build it. The public is split roughly in half, with 48 percent approving and 45 percent opposing the plant.

Finland has been under pressure to expand its energy production since 72 percent of its energy is imported.

According to Finland's Minister for Trade and Industry Sinikka Monkare, building a nuclear plant would be the most cost-effective solution and would help the country comply with the Kyoto protocol by limiting emissions.

The Finnish company TVO bid for the nuclear plant, and if the parliament approves, then TVO will have 5 years to file an application for construction.

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