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

British Energy Willi Receive Government Loan

LCG, Sep. 9, 2002--The struggling British Energy will be the recipient of a £410 million ($640 million) loan from the U.K. government, to be repaid with interest by September 27th, according to the Department of Trade and Industry (DTI).

An official who spoke on condition of anonymity said that an extension of the loan had not been expressly ruled out. A deal that had been under discussion between British Energy and British Nuclear Fuels Limited (BNFL) would have lowered British Energy's cost of processing spent nuclear fuel by about $476 million annually. The Treasury, however, blocked the deal at the last minute, under protest by the DTI.

The cost of processing fuel is a delicate issue, as some in the government have considered whether the fuel might be stored instead. Such a change would severely impact BNFL, which is experiencing its own financial difficulties. BNFL lost $3.6 billion last year.
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