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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Press Release

Energy Storage - New Study Explores the Efficacy of Storage in Integrating Wind in Regional Electric Systems

LCG, August 2, 2010 – The Electric Power Research Institute (EPRI) and LCG Consulting jointly conduct a multi-region study to find out how energy storage can help in meeting Renewable Portfolio Standards (RPS) by providing an efficient means for integrating wind turbines to the electric systems.

The study contributes to better understanding of the physical and financial implications of expansion of wind generation. According to Dan Rastler, the EPRI Project Manager, “The project will focus on realistic market valuation of energy storage technologies with increasing renewable generation at different locations throughout the United States, across a range of future contingencies considering energy prices, fuel use, emissions and investment in new capacity.”

Results from the demonstrative study for ERCOT indicate that storage has definite beneficial role in smoothing the fluctuation in wind availability. The results also confirm the usefulness of storage in congestion management, and in deferring capacity investment. The study was conducted using LCG’s UPLAN Network Power Model and PLATO database for ERCOT.
In view of the encouraging findings in ERCOT, EPRI has decided to extend the scope of the study to other regions of the U.S. including New York ISO (NYISO), PJM, California and Midwest ISO (MISO). It also envisions the new study will cover several storage technologies such as Compressed Air Energy Storage (CAES), bulk and distributed battery storage, liquid air energy storage (LAES), flywheel and other fast response storage devices.
“The study will look into the issue of gaining adequate transmission access to load centers, by optimal use of existing transmission and as well as by identifying appropriate new transmission investments”, says Srinivas Jampani, LCG’s lead consultant.

About LCG Consulting:
With more than 25 years of experience, LCG Consulting is a pioneer and market leader in modeling the competitive energy market. LCG offers a full range of consulting services and specialized software products including the UPLAN Network Power Model and regional PLATO databases which are widely adopted for simulating electric systems.

Contact: Sidart Deb
LCG Consulting

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