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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

Georgia Power Announces New Agreement to Receive Wind Power from Oklahoma

LCG, April 23, 2013--Georgia Power, a Southern Company subsidiary, announced yesterday that it entered into a 250-MW power purchase agreement (PPA) with EDP Renewables North America. The agreement provides for wind power generated from EDP's wind farms in southwest Oklahoma. The wind power is scheduled to commence delivery to Georgia Power on January 1, 2016.

"We are continuously evaluating energy options that provide the best overall economic value to our customers," said Paul Bowers, president and CEO of Georgia Power. "Adding wind energy to our generation mix underscores our commitment to a diverse portfolio that offers clean, safe, reliable, sustainable and low-cost electricity for years to come."

Georgia Power's affiliate, Alabama Power, previously executed a 20-year, PPA with TradeWind Energy for wind power from the 235-MW Chisholm View Wind Project in Oklahoma. That project was one of the first major wind projects to export power to the Southeast, and Alabama Power is now receiving power from the wind farm.
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