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

SoCal Ed Will Wait for Lawmakers to Return

LCG, July 30, 2001Southern California Edison Co. said on Friday that it will cut a little slack to California lawmakers and wait for the state legislature to return from its summer vacation, rather than sticking to its August 15 deadline for legislation to permit the state to purchase its transmission assets.

When California Gov. Gray Davis and the utility negotiated a deal for the state to pay $2.76 billion for the utility's transmission system early this year, they set the deadline and have insisted it must be adhered to..

Now, officials of SoCal Ed say they will use the time between now and August 20, when the legislature will reconvene, to work with the governor's office, legislative staff and regulators to put together a plan for the lawmakers to consider when they are refreshed from a month's vacation.

Three measures, one in the state Senate and two in the Assembly, were in various degrees of sinking when the legislature adjourned for its summer recess. All contained wide diversions from the deal put together by the company and the governor.

Legislation adopted last week by the state Senate did not provide for the purchase of the transmission lines, though it would provide state backing for up to $2.5 billion in bonds to be issued by SoCal Ed. A company official said that some provisions of that bill "simply don't work well, don't work at all." The Assembly adjourned without having taken a vote on any sort of plan.

Now, the company appears ready to give the legislature another chance to get the arrangement with Davis right.

On Friday, Ted Craver, chief financial officer of the utility's parent company, Edison International Inc., said in a conference call with some SoCal Ed creditors "As long as we see a significant and good faith effort to get that resolved, we have a preference to put all of our efforts to that."

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