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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

Georgia PSC Approves Georgia Power's 2019 IRP

LCG, July 18, 2019--The Georgia Public Service Commission (PSC) has unanimously approved Southern Company subsidiary Georgia Power's 2019 Integrated Resource Plan (IRP), which was submitted in late January.

The approved IRP calls for Georgia Power to retire five coal-fired units: Plant Hammond Units 1-4 near Rome, Georgia, and Plant McIntosh Unit 1 near Rincon, Georgia. The combined capacity of these coal units is approximately 980 MW. The company also will not renew its operating licenses for three small hydro plants: Estatoah, Langdale and Riverview.

Georgia Power had initially recommended adding 1,000 MW of renewable energy. In a stipulation agreement with Commission staff, that amount was increased to 1,650 MW. During Tuesday's hearing, the PSC Chairman made a motion to increase the renewable/solar energy procurement to 2,210 MW, the largest increase in renewable energy in Georgia's history. The five-member Commission voted unanimously for Chairman's motion. The final IRP decision also includes 50 MW of new competitively bid biomass generation (typically wood) was added.

"I determined Georgia has the ability to add significantly more renewable energy and solar energy using a market-based approach without any upward pressure on the rate payers and no state subsidies," the Chairman said.

The IRP calls for Georgia Power to own and operate 80 MW of battery energy storage systems (BESS), which will support the growth of intermittent or variable solar energy facilities and provide the company the opportunity to demonstrate the deployment, integration and operation of storage.

Georgia Power's senior vice president and senior production officer stated, "Working with the Georgia PSC, we are positioning Georgia as a leader in the Southeast in battery energy storage, which is critical to growing and maximizing the value of renewable energy for customers as we increase our renewable generation by 72 percent by 2024. Through the IRP process, Georgia Power will continue to invest in a diverse energy portfolio including the development of renewable resources in a way that benefits all customers to deliver clean, safe, reliable energy at rates that are well below the national average."
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