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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

Entergy Announces Possible Price and Volume Misreport

LCG, August 12, 2003Today the Entergy Corporation said that some of its employees may have inadvertently submitted incorrect price and volume data to industry publications.

Entergy said that prices might have been presented incorrectly, but the company had not found that employees tried to intentionally manipulate indices.

The corporation was ordered to give gas and electricity trading data to the Securities and Exchange Commission this April. Entergys records are still under review.

Today an Entergy spokeswoman also announced that the company plans to lay off roughly seven percent of its employees, or 1,000 people, in order to focus on the nuclear operations. Entergy hopes to eliminate the jobs by the end of the year through voluntary severance packages.

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