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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 Increases Funding for Solar PV Grants

LCG, December 20, 2013--The Governor of New York announced Thursday an additional commitment of $108 million in funding over the next two years for residential and commercial solar energy projects under the NY-Sun initiative. The additional funds increase the New York State Energy Research and Development Authority's (NYSERDA) total budget for the next two years to $216 million. The Governor started the NY-Sun initiative in 2012 to increase the amount of solar power installed annually at customer sites in New York State.

The Public Service Commission (PSC) approved the new funding yesterday, and the decision authorizes NYSERDA to plan a transition of its current solar programs to a regional megawatt block structure that includes a longer-term schedule for incentive rebate levels that change according to a predetermined set of targets; as more megawatts are installed, the per-megawatt rebate level falls. As part of this transition, NYSERDA will continue to set aside $30 million to increase solar installations in the downstate regions. The remainder of the $108 million will be allocated based on regional budgets and market conditions.

The Chairman of Energy and Finance for New York State said, "Providing greater certainty to the solar industry will lead to reduced costs and increased deployment. Together with the NY Green Bank and energy efficiency orders, this PSC approval reflects the underlying principles of our support for clean energy: to animate the markets and to achieve greater leverage of public funds for a cleaner and resilient economy."

PSC Chair stated, "The Commission recognizes the substantial opportunities that solar power offers residential and commercial customers to reduce electricity bills and improve the environment. We fully support the solar power goals set by the Governor?s NY-Sun initiative."
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