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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

India Makes Utilities Pay Debts

LCG, March 25, 2002-India will make state utilities pay the $8.2 billion owed to the nation's energy companies.

Extensive electricity theft and farm subsidies have left Indian state electricity boards with a expected combined $5 billion loss.

Federal coal and power companies, as well as the railways, all are due money from utilities, and the Indian Power Ministry is taking steps to help utilities pay their debts. Pending cabinet approval, the ministry will issue bonds to utilities and reduce financial assistance to states with bankrupt electricity boards.

Today, as the world's second largest country, India has 100,000 MW capacity, but it plans to have 1 million MW in ten years.

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