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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

Tucson Electric Power Announces Acquisition of Combined-Cycle Facility in Arizona

LCG, December 11, 2014-Tucson Electric Power Co. (TEP) announced yesterday that it has finalized the acquisition of a 550-MW, gas-fired power plant in Gila Bend, Arizona to reduce coal-fired electric generation. TEP and UNS Electric, Inc., a subsidiary of UniSource Energy Services (UES), purchased the Gila River Power Station Power Block 3 from Gila River Power LLC, a wholly owned subsidiary of Entegra Power Group LLC, for $219 million. TEP will control 413 MW of its output, while UNS Electric will control the remainder. TEP and UNS are subsidiaries of UNS Energy Corp., which was acquired in August by Canadian utility operator Fortis Inc.

TEP's President and Chief Executive Officer stated, "This acquisition contributes to an evolving resource portfolio that will continue to provide reliable, affordable and sustainable energy for our customers for many years to come". Our resource plan will result in a 25 percent reduction in carbon dioxide emissions by 2020 without compromising the affordability, safety or reliability of our service.

TEP plans to reduce its coal-fired generation capacity by approximately 32 percent by 2018. First, the lease for a unit at the Springerville Generating Station in eastern Arizona will remove approximately 200 MW of coal-fired capacity from the company's portfolio at the end of this year. Second, TEP will begin using natural gas exclusively as a fuel source for Unit 4 at the H. Wilson Sundt Generating Station in Tucson, removing another 120 MW of coal-fired capacity but the end of 2017. Third, in 2017 TEP plans to shut down Unit 2 of the San Juan Generating Station in New Mexico, of which TEP owns 170 MW. The combined capacity reductions in coal assets totals 490 MW.

The Gila River Power Station is located on a 1,100 acre site about 70 miles southwest of Phoenix and is interconnected to the Arizona power transmission network through two 500 kV ties and one 230 kV tie, which provide access to energy markets throughout the southwest. The electric generating station is comprised of four individual combined cycle power blocks, with a combined generating capacity of approximately 2,200-MW. Each power block includes two GE 7-FA combustion turbines with inlet air fogging, two Alstom heat recovery steam generators (HRSG) with supplemental duct-firing, and a GE single case, single flow axial exhaust condensing steam turbine. The facility began commercial operations in May 2003.

Earlier this week, the sale of a similar large power plant, the 1,980-MW Union Power Station, by Entegra Power was announced. Entergy Corporation subsidiaries Entergy Arkansas, Inc., Entergy Gulf States Louisiana, L.L.C. and Entergy Texas, Inc. acquired the Union Power Station from Union Power Partners, L.P., an independent power producer (IPP) that is wholly-owned by Entegra TC LLC, for a purchase price of $948 million.
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