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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

Florida PSC Approves FPL's Proposal to Build New Nuclear Reactors

LCG, March 19, 2008--The Florida Public Service Commission (PSC) yesterday approved a petition by Florida Power and Light (FPL) for a determination of need to build two new nuclear reactors at its Turkey Point facility south of Miami. The filing was the initial step toward receiving approval from the State to build Units 6 and 7, which are scheduled to commence operations in 2018 and 2020.

The project will add approximately 2,200 to 3,040 MW of electric generating capacity to meet the forecast, growing demand for power by the year 2020. The PSC Chairman stated, "The nuclear units will provide a clean, non-carbon emitting source of base-load power to meet Florida?s growing energy needs."

In August of last year, FPL announced plans to add the two nuclear reactors at a PSC workshop on future energy needs. In October, FPL filed its plans with the PSC to construct the reactors.

Other utilities in Florida have similar plans to install nuclear reactors. Earlier this month, Progress Energy Florida submitted a petition for Determination of Need to the Florida PSC that proposed to construct two nuclear reactors at a greenfield site in Levy County, Florida. The new power plant would also provide baseload electricity to meet increasing customer demands. The two, 1,100-MW units are scheduled to commence operations in 2016 and 2017. The site in Levy County is about eight miles north of its existing Crystal River Energy Complex.
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