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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

FootPrint Power Hires Iberdrola to Construct Combined-Cycle Plant in Salem

LCG, December 16, 2014-Iberdrola USA announced Friday that its sister company, Iberdrola Engineering and Construction, has been hired by Footprint Power of Bridgewater, New Jersey to build a 674-MW combined-cycle electric generating facility in Salem, Massachusetts. Iberdrola Engineering will be responsible for all engineering, construction, commissioning, and site work for the project. The new, gas-fired facility will incorporate GE's Flex-Efficiency design.

"With new EPA carbon emission rules on the horizon, this new, quick-start combined-cycle plant will provide much needed low-emission power for New England," said Iberdrola USA's chief corporate officer. "As we increase the use of renewable energy resources in the region, this plant will also provide critical balancing services to supplement the growing renewable generation fleet."

The announcement follows a recent Federal Energy Regulatory Commission (FERC) action granting Footprint Power a one-year deferment on its five-year obligation to generate electricity from its project. Some local residents have opposed the plant, slowing the project and threatening to push the on-line date to beyond the five-year window. The target on-line date had been June 2016; however, the date is now pushed back until June 2017. The estimated construction period for the project is 30 months.

Footprint Power's President & Chief Operating Officer stated, "We are moving forward on that front as quickly as possible. This order being granted allows us to move forward on those fronts and to finalize all agreements and transactions."

The power plant will be built at a 65-acre waterfront site now occupied by the decommissioned coal-and-oil-fired Salem Harbor Station generating plant. The much smaller footprint of the gas plant will make available a large parcel of waterfront property for future recreation, retail and commercial development.
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