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

Iran Goes Ahead with Nuke

LCG, August 14, 2003Tehran has given approval to have contracts signed for the comletion of the Bushehr nuclear plant.

Iranian officials insist that the second phase of the Bushehr plant will proceed, per the decision of Irans High Council of Atomic Energy. The council also noted the construction of a particle accelerator.

The United States government is worried that Iran may be covering up nuclear weapons development.

The plant would supply 1,000 megawatts and has been awaiting completion since the 1970s. The project was restarted in the 1990s, and thousands of Russian specialists have worked on the plants design and construction, according to agreements between Iran and Russia. Russia has not quite agreed to postpone sending fuel to Iran in light of recent accusations, but Tehran long ago agreed that Russia will process spent fuel rods.

Much of the world, including the European Union, Japan, and Russia, is urging Iran to sign onto an additional protocol to the Nuclear Non-Proliferation Treaty in order to permit snap inspections. Tehran has so far not agreed to anything more than planned visitations to chosen sites unless more technology is made available to Iranian scientists.

The U.S. has pressured Iran to give up its nuclear plans, and the International Atomic Energy Agency has also noted some incomplete reporting over the plants development. The IAEA will release a report next month.

If constructed according to schedule, the plant will begin operations in 2005.

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