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

Panda Power Funds Breaks Ground on Marcellus Shale-Gas Power Plant in Pennsylvania

LCG, August 13, 2014-The ground breaking ceremony for Panda Power Funds' combined-cycle power project occurred yesterday in Lycoming County, Pennsylvania. The Panda Patriot Power Project is a natural gas-fired, 829-MW project that is strategically sited in the Marcellus Shale formation, one of the largest natural gas fields in the world. The project is scheduled to enter commercial operations in mid-2016.

The Panda Patriot Power Project will deliver electricity into the eastern area of the PJM Interconnection, offsetting in part planned retirements of coal-fired electric generating units in the region.

The Panda Patriot Power Project is located on an 85-acre site, approximately 60 miles north of Harrisburg. Siemens Energy Inc. will provide the power island package, including the H-class gas turbines, steam turbines, generators, heat recovery steam generators (HRSGs), and instrument and control systems. The project includes an air cooling system, rather than water, to avoid the need to discharge water into the Western Branch of the Susquehanna River and the potential impacts to sensitive species in the Susquehanna watershed.

Panda Power Funds is also using Siemens power island packages at two new 758-MW, combined cycle sites in Texas: Panda Sherman and Panda Temple I, which are scheduled to begin operations this year. Furthermore, Panda Power plans to complete another combined cycle block, Temple II in Texas, which is scheduled to begin operations in 2015.
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