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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

Sheringham Shoal Offshore Wind Farm Opens

LCG, September 28, 2012--Statoil announced that the official opening occurred yesterday of the 317-MW, Sheringham Shoal Offshore Wind Farm, which is sited off the coast of Norfolk, England. Offshore wind power generating capacity for the United Kingdom (UK) now exceeds 2.5 GW.

The Sheringham Shoal Offshore Wind Farm is owned equally by Statoil and Statkraft through a joint venture, Scira Offshore Energy Limited, which will operate the wind farm.

The Statoil president and CEO stated, "Statoil has utilised competence from 40 years of offshore experience in the oil and gas industry to complete Sheringham Shoal Offshore Wind Farm. Together with our partner Statkraft we have benefitted from good cooperation with UK authorities, local communities and suppliers. I am proud to say that as a result of this joint effort, we are now able to provide 220 000 UK homes with green power for decades to come."

The wind farm includes 88, 3.6-MW wind turbines. Scira received approval from the UK approximately four years ago, and initial construction began about three years ago. To complete the offshore project, a number of challenges had to be overcome, and these challenges delayed the project completion and increased costs.
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