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

Davis' Maviglio Another Calpine Shareholder

LCG, July 31, 2001Just days after California Gov. Gray Davis' administration announced the sacking of five consultants for owning stock in Calpine Corp. and other energy producers, it turns out that the man who does the governor's announcing is a shareholder of Calpine and Enron Corp.

Steve Maviglio, the governor's spokesman, acknowledged yesterday that he had purchased 300 shares of Calpine on June 20, after instructing his broker on May 31 to buy the stock if it got down to a certain price. He said he also owns 100 shares of Enron.

A week after the trade went off, Maviglio had warm praise for Calpine, telling reporters that the company has "made a clear commitment to invest in California." Contrasting Calpine with other power producers, he added "Their pricing has been far more reasonable than any other generator."

Maviglio's comments didn't help Calpine's stock. At the time he placed his order, it was trading at around $45, and subsequently dropped to around $38 when the trade was made. Despite a spike earlier this month, it is still trading in the high 30s.

Five energy traders, working as consultants with the California Department of Water Resources, were terminated Friday after financial disclosure statements revealed to Davis' people that they owned stock in Calpine and other power producers a potential conflict of interest. A sixth resigned on her own.

Davis had said that people hired as consultants were exempt from requirements that such disclosures be filed, but California Secretary of State Bill Jones, a Republican who may challenge Davis in next year's election, thought differently and pressured the administration to reveal the holdings of the consultants.

Yesterday, he said Maviglio ought to be fired. "These actions are unethical, unconscionable, unacceptable, and heads should roll," Jones said in a statement.

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