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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

Upgrade Update: ComEd Cuts Outages by 19 Percent

LCG, Sept. 15, 2000Commonwealth Edison Co., the big Chicago utility that suffered so many power outages last summer that the mayor of the Windy City ordered it to get its system in shape or lose its franchise, reported yesterday that the number of outages per customer this summer was down 19 percent from the same time last year, while the average duration of outages per customer declined by 25 percent.

"I'm sure a part of that is fortune," said John W. Rowe, chairman and chief executive of ComEd, noting "we did benefit from relatively cool temperatures." He added that "A great deal of it is hard work, unpleasant management decisions, and very heavy expenditures of money."

As a result of edicts issued by Chicago Mayor Richard M. Daley last summer, ComEd embarked on a $1.5 billion upgrade of its distribution system. That budget has swelled to $1.9 billion as more problems than anticipated were discovered.

Rowe told reporters "We have made substantial progress in every area this year. However, we still have a long way to go to improve reliability and regain the confidence of our customers. We are only at the halfway mark of our improvement plan, and we will continue to work at a fast pace."

Shortly after ComEd announced all the improvements, a fire broke out in one of its underground vaults, where cables connect to wires that serve customers. Power was cut off to several businesses in Chicago's downtown Loop area.

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