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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

JEA Approves Plans for 250 MW of Solar PV Farms

LCG, October 18, 2017--The JEA Board of Directors unanimously approved a major solar-power program Tuesday to will invest in creating five solar photovoltaic (PV) farms to provide a total electric generating capacity of approximately 250 MW. The JEA Board also approved a mandate that 30 percent of its energy come from zero-carbon or carbon-neutral projects by 2030, which replaces a previous target that required the utility to invest more heavily in nuclear power.

JEA executives will spend, with the Board's approval, up to $50 million for five, 50-MW solar farm sites in Jacksonville, Florida. The solar farms are expected be built on JEA-owned land, with the footprint for each site covering about 400-500 acres each. A developer will build solar panels on the site, and JEA will buy the power, at a total cost of roughly $20 million per year for all five farms. The solar farms could be operational as early as 2020.

The JEA Board also approved a new solar policy that changes the rate paid to customers by JEA to JEA's fuel rate, which changes from time to time but will be less than the old rate. The new rate will go into effect April 1, 2018. Existing customers with rooftop-solar panels will be grandfathered in at the old, higher rate.

JEA somewhat offset the reduction in rooftop-solar compensation with a new incentive for rooftop-solar customers that offers customers a 30 percent rebate on the purchase of a battery system that can store a home's excess solar power. The federal government also offers a 30 percent tax credit on home-battery technology, which JEA says generally would save a customer about $3,000. During the day, solar panels would send excess power to a home's battery system instead of JEA's grid. At night, the home electric loads can be supplied by the battery instead of using JEA power.
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