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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

AEP Talks With FERC Over 2000/2001 Electricity Trading Practices

LCG, August 27, 2003American Electric Power has agree to pay just $45,240 in order to settle allegations of possible manipulative trading practices.

AEP has been under investigation for possibly unethical electricity trading practices such as Death Star, a plan by which imaginary congestion is created on the transmission system with fake transmission requests.

Federal Energy Regulatory Commission (FERC) staff reported that AEPs trading records, while questionable, do not qualify as Death Star trades and thus made the agreement for a $45,240 settlement.

AEP admits no guilt in the process of settling, and a FERC judge and three-person committee must still approve the settlement before it is final.

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