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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

Five Japanese Executives Resign After Nuke Deception

LCG, September 17, 2002-Following an investigation revealing phony nuclear plant records, five executives have resigned from Tokyo Electric Power Company.

Earlier this month, the Tokyo Electric Power Company (TEPCO) found that 13 of its 16 nuclear power plants had incorrect records of reactor core structures. In some cases, cracks in reactors were not disclosed.

Five reactors, amounting to 5,180 megawatts in capacity, have been shut down for inspection.

Additionally, TEPCO's President Nobuya Minami will resign and take a position as an advisor. Chairman Hiroshi Araki will also resign, along with two advisors and a vice president. The company has said that it will seek to punish those responsible, perhaps as many as 35 officials.

Pulling these nuclear plants off line may result in a loss to TEPCO of over $204 million.

Although TEPCO is interested in disciplining its employees, it has asserted that the cover-ups were due to mismanagement on a macro-organizational scale, as opposed to personal greed.

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