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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

Enron-owned Dabhol Plant Will Not Resume Operations

LCG, September 3, 2002The Dabhol power project, located in the Indian state of Maharashtra, will not resume operations to supply the surrounding area because a electricity rate cannot be agreed upon.

Officials in the electricity-starved western state had considered paying for power from the dormant plant, but plant owners found the offered price too low to make the plant financially viable.

Bankrupt Enron Corporation owns 65 percent of the facility, GE and Bechtel Corp. own 10 percent each, and the Maharashtra State Electricity Board owns 15 percent.

While 750 MW of the plant operated starting 1999, the 1444 MW second phase was never completed because the State Electricity Board did not stay current with payments by some $240 million.

The plant, which has been shut down for more than a year, awaits a price agreement between the state and plant owners. Bechtel Corporation has offered to restart the plant, but the Industrial Development Bank, on behalf of Dabhol creditors, refused the offer.

Civic groups and others have condemned the delay, and the Indian government wants to begin operations as soon as possible. Lenders will meet in Singapore later this week to discuss the plants future.

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