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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

Sempra and Indonesian Co. May Strike LNG Deal

LCG, August 14, 2003BP Migas is planning to send representatives to the U.S. in order to sell liquefied natural gas to Sempra Energy.

Indonesia is one of the worlds leading LNG providers and recently signed a contract with Mexico for three to six million tons of LNG per year, starting in 2007. Indonesia currently exports over 23 million tons of LNG, mostly to Asia.

BP Migas intends to meet with Sempra at the end of August and hopes to sign a preliminary agreement regarding a possible LNG contract.

Meanwhile, several U.S. companies are looking into developing LNG terminals on the Pacific Coast of North America, particularly in Mexicos Baja California. Federal Reserve Chairman Alan Greenspan has endorsed such action, warning that a lack of natural gas may hamper economic recovery.

Currently LNG comprises only one percent of the nations consumed natural gas.

Sempra is based in San Diego, California and is the parent company to utility San Diego Gas & Electric.

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