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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

New York PSC Directs Further Efforts to Support Retirement of Indian Point Nuclear Units

LCG, April 19, 2013--The New York Public Service Commission (PSC) yesterday announced directives to support the closure of the two Indian Point nuclear reactors, which is one of the elements of the Governor's Energy Highway Blueprint issued last October by the Governor's Energy Highway Task Force.

The Governor of New York has previously expressed his desire to close the nuclear reactors, located about 40 miles north of Manhattan along the Hudson River, when the operating licenses expire in September 2013 and December 2015. The governor has stated that even the most unlikely possibility of an accident is too much in the heavily populated area.

Entergy, the owner of the Indian Point Energy Center, claims the reactors are safe and filed with the NRC in 2007 to renew the operating licenses for a 20-year extension. The two nuclear units have a combined generating capacity of 2,069 MW.

The Commission yesterday addressed portions of the plan filed by Consolidated Edison Company of New York Inc. and the New York Power Authority (NYPA) to mitigate the impact resulting from retiring the Indian Point nuclear power plants. As part of that proceeding, the Commission approved contingency program goals designed to achieve demand reductions from energy efficiency, demand response and on-site generation projects, and directed Con Edison to work with the New York State Energy Research and Development Authority (NYSERDA), and in consultation with NYPA, to file a detailed implementation plan.

The Commission yesterday directed Con Edison and the New York State Electric and Gas Corporation, working with NYPA, to begin development of transmission owner transmission solutions to resolve reliability issues that would develop if Indian Point were to be retired. In addition, the Commission proposed that costs that would be incurred if Indian Point were retired should be recovered from the beneficiaries of the contingency plan who would otherwise suffer from reliability problems if Indian Point closes without the benefit of the plan?s remedial measures. The Commission also directed staff to issue a straw proposal to best identify these beneficiaries.
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