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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

Widespread East Coast Power Failure Affects Flights, Subways

LCG, August 14, 2003This afternoon blackouts hit residents of New York, northern New Jersey, Michigan, parts of Long Island and Connecticut, and even Ottawa and Ontario.

According to the New York Times, upstate New York authorities told New York City officials the blackouts had to do with overload on the Niagara Mohawk Power Grid.

In addition fire at a New York City power station at 4:00 Eastern time may have contributed to the blackouts. Several authorities have pointed to Canada as the source of the blackout. Most authorities have asserted that the cause is still unknown.

Reuters has also reported that a nuclear plant in New Jersey is not operating, which may have contributed to an overloaded system. Indian Points two nuclear reactors, as well as Ohios Perry and Fermi nuclear generators have been shut down because of loss of off-site power.

Several airports are experiencing outages, including all three of New York Citys. Ground stops have been ordered for Cleveland, Kennedy, LaGuardia and Newark, N.J. airports, preventing planes from leaving those airports until further notice.

Subways in several cities are down, and combined with traffic signal failures, wreaked havoc in rush hour streets.

No evidence of terrorism has as yet been linked to the power failure, according to the Federal Energy Regulatory Commission and the FBI.

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