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

FutureGen Project Gains Momentum

LCG, December 7, 2005--The Department of Energy (DOE) and the FutureGen Industrial Alliance, Inc. (Alliance) announced yesterday that they have executed an agreement to develop and build FutureGen, a prototype of a coal-fired power plant that would produce electricity and hydrogen with a target of zero-emissions, including carbon dioxide (CO2), a greenhouse gas.

The DOE and the Alliance will jointly develop the project, including siting, technology selection, construction and operation. The U.S. government is expected to invest about $700 million in the project. Alliance will contribute $250 million to the project. The members of Alliance are: American Electric Power, BHP Billiton, CONSOL Energy Inc., Foundation Coal, China Huaneng Group, Kennecott Energy, Peabody Energy, and Southern Company.

The Alliance and DOE plan a site selection process that includes a solicitation in early 2006, with a final selection in the latter half of 2007. Many states, in particular coal-producing states, are vying to become the host for the $1 billion project. The target year to commence operations of the new, 275-MW power plant is 2012.

The project includes multiple budget periods. The first period extends through the end of January 2007 and includes $10.2 million to be used to support the site selection and to develop the project design and cost. The scope will include the consideration of consuming a wide range of coal supplies with varying qualities.

The promise of the project is to demonstrate the viability of coal-fired, power stations using an integrated gasification combined cycle (IGCC) plant design as part of a strategy to capture and sequester CO2. The IGCC design includes coal gasification, with the gas from the coal passed through a gas turbine to generate electricity. The hot exhaust gas from the turbine heats water to produce steam to power a steam turbine and generate electricity a second time. Alternatively, future derivations of the plant could focus on a gasification process to produce hydrogen to fuel hydrogen-powered cars and trucks.

The gasification process included in the IGCC design enables the CO2, along with other emissions, to be readily separated. The captured CO2 is planned to be injected as a compressed fluid deep into the earth's surface, possibly into saline reservoirs, oil or gas reservoirs, or into unmineable coal seams, to enhance petroleum or coalbed methane recovery. Once injected into these formations, the CO2 would be expected to be permanently isolated from the atmosphere. The project will include an intensive measurement and monitoring effort to verify the efficacy of carbon sequestration. The project goal will be to capture 90 percent of the CO2.

Last month the DOE announced that another DOE-funded project had successfully sequestered CO2 into the Weyburn Oilfield in Saskatchewan, Canada, while doubling the fields oil recovery rate.

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