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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

Canadians Achieve Record Year in 2014 for Wind Farm Installations

LCG, January 23, 2015--The Canadian Wind Energy Association (CanWEA) announced that in 2014 Canada set a record for the installation of new wind energy capacity. A total of 1,871 MW of electric generating capacity was installed, increasing Canada's wind farm generating capacity to nearly 9,700 MW at year-end.

The new capacity was constructed in five provinces, including: 999 MW in Ontario, 460 MW in Quebec, and 350 MW in Alberta.

In 2014, over 98 percent of new wind capacity was supplied by five wind turbine manufacturers, led by Siemens and followed by GE, Vestas, ENERCON and Senvion. Siemens and GE supplied more than half of the wind turbines in 2014.

The president of CanWEA stated, "Canada's 37 new wind energy projects in 2014 represent over $3.5 billion in investment. Wind energy has now brought economic growth and diversification to more than 100 rural communities across Canada through land lease income, tax payments and community benefits agreements. Of the 37 new wind energy projects installed in 2014, 15 projects also include significant ownership stakes from First Nations, Municipal Corporations or local farmers."

The president of CanWEA added, "Wind energy has demonstrated that it is a proven, reliable and cost-competitive energy solution that drives economic diversification, environmental sustainability and rate-base value. These attributes will continue to drive wind energy growth in 2015, where we expect a minimum of another 1,500 MW of new wind energy capacity to come on line. This coming year will also see new wind energy contracts awarded in Ontario, a new Energy Strategy in Quebec, and a new climate change framework in Alberta that may open the door to accelerated wind energy development in that province."
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