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

FERC Notifies Duke Investigation into Withholding is Closed

LCG, Aug. 1, 2003--Duke Energy Corp. has justified its behavior during the energy crisis of 2000 and 2001 sufficiently for the Federal Energy Regulatory Commission to end further investigation, as it found no "conclusive evidence at this time" that the company intentionally withheld power from the market.

The FERC complied a group of approximately 100 market participants, many of which controlled 60 megawatts of generation or less, which it said had been cleared of having taken capacity out of the market. Duke Energy was owner of about 3,000 megawatts in the Western U.S. during the crisis. The exact period that has been under scrutiny is May 1, 2000, through June 30, 2001. Other large firms that had hundreds or thousands of megawatts at their disposal remain under investigation.
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