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

NRC Renews Operating License for Beaver Valley Power Station in Pennsylvania

LCG, November 6, 2009--The Nuclear Regulatory Commission (NRC) announced yesterday that it approved the renewal for 20 years of the operating licenses for Units 1 and 2 at the Beaver Valley Power Station in Pennsylvania. With the 20-year extension, the nuclear units are licensed to operate until January 29, 2036, and May 27, 2047, respectively. Units 1 and 2 went into operation in 1976 and 1987.

FirstEnergy Nuclear Operating Company, the operator of 1,815-MW Beaver Valley Power Station, submitted the application on August 27, 2007. The NRC performed safety and environmental reviews, of the two, pressurized-water nuclear reactors prior to approving the applications.

The NRC stated that the Beaver Valley licenses represent the 56th and 57th reactor licenses that it has renewed. Furthermore, there are now 13 applications for 20 units that are under review by the NRC.

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