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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

SCANA and Santee Cooper Formalize Plans for New Nuclear Reactor

LCG, December 16, 2005--SCANA Corporation and Santee Cooper filed a letter of intent with the Nuclear Regulatory Commission (NRC) to seek a permit to build a nuclear reactor.

SCANA, the parent company of South Carolina Electric and Gas Co., and state-owned Santee Cooper had previously announced in August that they were considering extending an existing nuclear generation joint ownership agreement so that they can study construction of a new nuclear generation facility. The two companies currently co-own the V.C. Summer Nuclear Station near Jenkinsville, South Carolina.

A final site for the new reactor was not identified in the filing with the NRC. Sites under consideration include the V.C. Summer Nuclear Station and the Savannah River Site near Aiken.

The letter of intent adds momentum to the efforts to develop and build new nuclear reactors in the Southeast. Over 15,000 MW are proposed to commence operations starting in the 2015 to 2017 time-frame. Companies actively pursuing the development of new reactors in the Southeast include: Progress Energy, which plans to seek licenses to build up to four nuclear reactors at two locations; Duke Power, which announced that it is preparing a combined construction and operating license (COL) application to construct two nuclear reactors; and Southern Nuclear Operating Company, which has selected its Vogtle Nuclear Station in Georgia for consideration as a site for new nuclear reactors.

In September, the NuStart Energy Development, LLC, a consortium founded in 2004 to support the development of new nuclear power, announced that its two finalist sites for the development of new nuclear reactors are Grand Gulf Nuclear Station (owned by Entergy Nuclear) in Port Gibson, Mississippi and Bellefonte Nuclear Plant (owned by the Tennessee Valley Authority) near Scottsboro, Alabama.

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