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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

Effects of Largest North American Power Outage Linger in Ontario

LCG, Aug. 18, 2003--Last week's power outage is still being felt in Ontario, where the province's Independent Electricity Market Operator, or IMO, instructed businesses, industry and consumers to curtail energy usage.

The premier of Ontario, Ernie Eves, commended businesses for responding so diligently to a request he made for cuts of 50 percent. Power usage is not supposed to return to normal levels yet, as most government workers were told to stay home today, and auto production plants shifted some workers to night shifts in order to lower peak demand.

The IMO said generating resources could provide up to 19,700 megawatts, below the usual level of about 21,900 megawatts that would be needed for this time of year. Conservation is needed to provide a generous reserve margin, and avoid levels of demand that could reach up to 24,000 megawatts given hotter weather and normal working conditions.

Eves commented, "We can't use every single megawatt of power that we have in case of a maintenance problem somewhere in the system." It was unknown whether activity would be allowed to increase Tuesday, although all modes of public transportation, including the energy-intensive subway, were again available this morning at 6 A.M. for commuters.
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