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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

Bechtel Holds Groundbreaking Ceremony Held for Combined-Cycle Energy Project in Ohio

LCG, July 22, 2015-Bechtel announced yesterday the groundbreaking of a new natural gas-fired combined-cycle power plant in Carroll County, Ohio. Bechtel is responsible for the engineering, procurement, construction (EPC) and start-up of the project. EthosEnergy will operate the facility, and Advanced Power will remain as the construction and asset manager. The project is scheduled to be completed and commence commercial operations in 2017.

The Carroll County Energy Facility, located in northeastern Ohio, will be a 700-MW electric generating facility that sells energy, capacity and ancillary services to the PJM market, where a significant number of aging coal-fired power plants have or are scheduled to be retired. The strategically located project is proximate to the Utica and Marcellus natural gas production, together with Kinder Morgan's Tennessee Gas Pipeline system and AEP's 345 kV transmission lines. The project includes two GE 7F.05 gas turbines and a D602 steam turbine.

Bechtel's General Manager - Power stated, "We will be using advanced emissions-control technology to make this plant one of the cleanest and most efficient natural gas power facilities in the United States. This project continues our long history of delivering infrastructure projects in Ohio -- with the support of skilled local workers -- and we have already awarded $15 million worth of contracts to local firms."

Advanced Power announced in April that it had closed a $899 million project financing with its partners TIAA-CREF, Chubu Electric Power Company, Ullico and Prudential Capital Group providing $411 million in equity commitments and BNP Paribas, Credit Agricole and eight other commercial banks providing $488 million in senior secured credit facilities for construction of the project.
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