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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

Ontario Issues New Long-Term Energy Plan

LCG, December 5, 2013--The Ontario Ministry of Energy released earlier this week its Long-Term Energy Plan (LTEP) for Ontarians. The announcement states that the LTEP balances five principles to guide future decisions: cost-effectiveness, reliability, clean energy, community engagement, and an emphasis on conservation and demand management before building new generation.

The province expects to offset almost all of the growth in electricity demand to 2032 by using programs and improved codes and standards. The updated LTEP forecasts that by 2025 about half of Ontario's installed generating capacity will come from renewable sources. The government commitment to phase out its coal-fired generation by the end of 2014 is retained in the plan.

Ontario's new plan, Achieving Balance, includes provisions to: (i) decrease the need for new supply by implementing conservation programs and standards to offset most load growth, (ii) lower costs for consumers, (iii) expand Demand Response programs to help achieve a 10 percent reduction in peak demand by 2025, (iv) make new financing tools available to consumers starting in 2015, including programs to incent energy efficient retrofits to residential properties, (v) develop a new competitive procurement process with the Ontario Power Authority for future renewable projects larger than 500 kW, (vi) extend the phasing-in of wind, solar and bioenergy for three more years than estimated in the 2010 LTEP, (vii) enable the nuclear refurbishment at both Darlington and Bruce Generating Stations, beginning in 2016, and (viii) encourage First Nation and M?tis participation in transmission and renewable energy projects.

Ontario will not proceed with the construction of two new nuclear reactors at the Darlington Generating Station. The province will continue to work with Ontario Power Generation (OPG) to consider new build in the future.

With respect to another nuclear facility, the Pickering Generating Station, it is expected to be
in service until 2020. According to the plan, an earlier shutdown of the Pickering units may be possible, depending on future load growth, the progress of the fleet refurbishment program, and the timely completion of the Clarington Transformer Station.
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