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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

Sempra and BP Sign Contract for LNG Deliveries to Baja California

LCG, October 14, 2004--Sempra Energy LNG, a subsidiary of Sempra Energy, and BP announced that they have signed a 20-year agreement to deliver 500 MMcf/day of liquified natural gas (LNG) to Sempra's planned Energia Costa Azul terminal, located near Ensenada, Mexico. After regasification, natural gas pipelines would then transport the gas to local markets and California.

The Energia Costa Azul terminal will be built with a capacity of 1 Bcf/day and is a joint project between Sempra Energy LNG and Shell International Gas, a division of Royal Dutch/Shell. Operations are planned to commence by 2008.

The source of the natural gas supplies will be the Tangguh LNG terminal project in Indonesia, which is also scheduled to begin production in 2008. BP, which is the largest owner of the Tangguh LNG project, recently announced another 20-year, Tungguh LNG deal with K-Power, a joint venture between BP and South Korea's SK Corp. There is also an agreement with China National Offshore Oil Corp (CNOOC) for delivery to an LNG terminal planned for East China's Fujian Province.

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