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

Senate Passes Bill Requiring Renewables

LCG, Mar. 22, 2002--A bill preceding more comprehensive energy legislation has been passed 58-40 by the Senate, and would require utilities serving the public to provide 10 percent of electricity from renewable resources by 2020.

Sen. Jeff Bingaman, D-N.M., said the requirement was intended to "diversify our supply of energy." The bill was supported mostly by Democrats and some Republicans from the Northeast. In opposition, many Republicans and some Democrats want to encourage exploration for oil and gas resources within the U.S. Sen. Jon Kyl, R-Ariz., said the primary beneficiary of increased use of renewables would be "a few wind generators," while consumers would pay more for energy, he said.

Sen. Harry Reid, D-Nev., said drilling in the Arctic National Wildlife Refuge was no longer a serious possibility.
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