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

Company Provides £1 Billion for UK Wind Power

LCG, Feb. 19, 2002--A company with backing from high-profile banks, insurers and law firms will provide £1 billion for wind power in the UK.

The funding would be provided by the company, Aeolus, to as many as 18 off-shore windpower installations. Among the backers are the Bank of Scotland, insurance group Marsh UK, the law firm Norton Rose, Norddeutsche Landesbank of Germany, NIB Capital Bank of the Netherlands, and consultant engineer PB Power.

A partner at Norton Rose, Andrew Newbery, said, "project finance can take years to arrange. But with Aeolus the banks have done all the risk assessments so the money can be arranged very quickly."

Projects are already foreseen by developers such as Shell, London Electricity, Powergen and Amec, and would be situated largely off England's southwestern and northeastern coasts, at an estimated cost of £1.6 billion.

The government wants windpower to account for 3 percent of generation by early 2003. The full capacity of 18 planned windfarms would be 1,600 megawatts.
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