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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

Court Ruling Supports Dominion's Plans for Exports at Cove Point LNG Terminal

LCG, January 9, 2013--In a court ruling made public on January 4, Dominion Resources Inc. retains the right to export liquefied natural gas (LNG) from its Cove Point, Maryland, facility on the Chesapeake Bay. The Circuit Court Judge rejected arguments by the Sierra Club that such exports violated a 2005 agreement.

With the court ruling, Dominion announced it will proceed with engineering, marketing and regulatory review processes to enable LNG exports from the Cove Point site. Dominion expects the liquefaction project to cost between $2.5 billion and $3.5 billion.

Dominion acquired the Cove Point facility from Williams in 2002 and began importing LNG via ships in the summer of 2003. In 2009, Dominion finished an expansion project that increased Cove Point's storage and production capacity by nearly 80 percent. With the drop in natural gas prices and ample gas supplies in North America, Dominion has reversed course and plans to modify the site to enable LNG exports.

The Circuit Court ruled that Dominion Cove Point's agreement with environmental agencies allows it to build liquefaction facilities inside the plant's fenced area and export LNG. The Sierra Club had maintained Dominion needed its permission to build the facilities.

Dominion's president and CEO stated, "Dominion has made considerable progress towards a project that will bring jobs and revenues to the national and local economies. We have received support from business, labor, government, community and environmental groups for a major construction project that would bring great benefits to many people. We look forward to working with the Sierra Club and other involved environmental groups to continue the outstanding record of environmental cooperation at Dominion Cove Point."

Last June Dominion filed a request with the Federal Energy Regulatory Commission (FERC) to start the pre-filing process in anticipation of filing an application this year.


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