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

Projections of Rules' Effects Require More Data, GAO Says of EPA

LCG, Aug. 27, 2003--The General Accounting Office, the investigative arm of Congress, has found that changes to the implementation of new source review pollution standards proposed by the Environmental Protection Agency have not been sufficiently studied in terms of their emissions and economic effects.

The EPA agreed with the GAO that it can develop closer communication with local providers of data that could be relevant for such analyses, such as regulatory agencies. These agencies, the GAO determined, might identify suitable sources of information on which to base forecasts. A substantial amount of EPA's projections of the possible results from changing requirements for pollution control equipment at power plants and refineries has been based on input from owners of the plants, and their own analyses of the costs relative to continuation of the status quo.

The GAO found that the current status of research concerning the new source review program renders the likely effects of proposed changes to the rules "uncertain."
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