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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

Samsung and Siemens Sign Wind Turbine Supply Agreement for Ontario Projects

LCG, August 12, 2010--Siemens Energy and Samsung C&T Corporation announced Tuesday that they have executed an agreement for the supply of wind turbines with a total capacity of up to 600 MW. The wind turbines will be used in projects planned for Southern Ontario.

Siemens will also manufacture turbine blades at a new site in Ontario, boosting its North American production capacity. Siemens has invested in a nacelle manufacturing facility in Hutchinson, Kansas that is scheduled to commence production in December 2010.

In January, the Ontario government announced that it signed an agreement with a Korean consortium to invest C$7 billion to generate 2,500 MW of wind and solar power. The consortium, led by Samsung C&T Corporation and the Korea Electric Power Corporation (KEPCO), was to work with major partners to attract four manufacturing plants related to wind and solar technology for use in Ontario and export to the United States.
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