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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

LS Power Announces New PPA for Plum Point Project

LCG, December 8, 2006--Plum Point Energy Associates, LLC ("Plum Point") announced yesterday that it has executed its second power purchase agreement (PPA) this week associated with the 665-MW Plum Point Project located near Osceola, Arkansas. The latest PPA is a 30-year agreement for 70 MW with Southwestern Electric Cooperative, Inc. ("SWECI"). LS Power announced that this PPA closes out subscription on the 665 MW facility.

The Plum Point Project is a greenfield, coal-fired power project. Construction began in March of this year, and commercial operations are scheduled to commence in mid-2010.

Earlier this week, LS Power announced that it had signed a 50 MW, 30-year PPA with Missouri Joint Municipal Electric Utility Commission ("MJMEUC"). Plum Point announced in August that it had signed a 200 MW, 30-year PPA with South Mississippi Electric Power Association. LS Power also states that it has a 30-year PPA for 50 MW with The Empire District Electric Company.

LS Power has previously announced that it has sold tenancy in common interests in the project to East Texas Electric Cooperative, Inc., the Missouri Joint Municipal Electric Utility Commission, the Empire District Electric Company, and the Municipal Energy Agency of Mississippi. Furthermore, it has stated that it retains a 62.85% ownership interest in the project.

Plum Point is a a member of the LS Power Group. On September 15, 2006, the LS Power Group and Dynegy, Inc. announced a merger transaction involving certain assets of the LS Power Group, including the Plum Point Energy Station, and Dynegy, Inc.'s assets.
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