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

Pattern Energy Announces Completion of 200-MW Wind Project in Texas

LCG, September 29, 2015-Pattern Energy yesterday announced that it has completed construction of the 200-MW wind project, Logan's Gap Wind facility, located in Texas. The project is fully operational, and Walmart has a 10-year power purchase agreement (PPA) to buy 58 percent of the expected output from the facility. Pattern Energy has an owned interest of 164 MW in the facility, and four institutional tax equity investors have acquired the balance.

The Logan's Gap Wind facility is located on a 24,000 acre site in Comanche County and includes 87 Siemens 2.3 MW wind turbines. Construction at the site began in late 2014. The wind farm is located in ERCOT's North Zone and is connected to Oncor's 138kV ComancheZephyr line that crosses the site and delivers power to the Dallas-Fort Worth load center.

The CEO of Pattern Energy stated, "Logan's Gap Wind is our fourth operational wind power facility in Texas and we are now serving three different regions throughout the state. We continue to bring new facilities online both on time and on budget, demonstrating our ability to execute on our growth strategy. We are pleased to be working with one of the leading corporations in the world as it acquires renewable energy and lowers its carbon footprint. We are increasingly partnering with America's leading companies as they recognize that wind power, which continues to decline in cost, is both good for the environment and good for business."

Pattern Energy acquired the project from Pattern Energy Group LP (Pattern Development) in December 2014. The Pattern Energy Group acquired the project from Pioneer Green Energy earlier in 2014. Pattern Energy has rights of first offer to Pattern Development's entire project development pipeline, which totals more than 5,900 MW.

Walmart and a financial institution will purchase 75 percent of the energy produced by the facility; Walmart will purchase 58 percent under a 10-year PPA, and a financial institution will purchase seventeen percent of the expected output under a 13-year fixed price agreement. The remaining 25 percent of expected output will be sold at ERCOT spot market prices.

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