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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

Progress Selects Site for New Reactorin Florida

LCG, December 13, 2006--Progress Energy has selected a site in Levy County, Florida near its existing Crystal River Energy Complex for the possible construction of a new nuclear power plant. Company representatives emphasized that the decision to build nuclear reactors at the site has yet to be made and is not expected for at least a year. However, by selecting the site now, the company will be positioned to proceed such that nuclear power could be generated at the site by the year 2016.

The preferred site includes approximately 3,000 acres and is located about seven miles inland from the Gulf of Mexico and eight miles north of the Crystal River Energy Complex, which currently includes a nuclear reactor and four coal-fueled units.

The new power plant would provide baseload electricity to meet increasing customer demands for electricity, which Progress expects to grow by more than 25 percent in the next decade. Nuclear power is seen as viable source of electricity that does not rely on foreign oil supplies and does not emit greenhouse gases.

Progress currently operates five reactors at four nuclear sites, including the reactor in Florida. In November of last year, Progress updated its plans with the Nuclear Regulatory Commission (NRC) and announced that it planned to submit combined operating license (COL) applications for a site in the Carolinas and a site in Florida. Each COL is to include up to two reactors at each site.

Progress stated that the application for the COL for the Florida site may be filed in 2008. Given the NRC approves the application and Progress elects to proceed, construction could start in 2010, with operations commencing in 2016.

In January 2006, Progress Energy Carolinas announced that it had selected its existing Harris Nuclear Plant site to evaluate the addition of new nuclear reactors to serve the growing electric demand of its customers. The original site plan included four reactors, and the company stated that the site offers sufficient land, water and electric transmission capacity to accommodate at least one new unit. Westinghouse Electric Company was selected as the vendor to provide the reactors.
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