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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

NY Contingency Plan for Nuclear Reactor Closures Advances

LCG, February 6, 2013--Consolidated Edison, Inc. and the New York Power Authority (NYPA) filed with the Public Service Commission (PSC) on February 1 to seek regulatory approval to issue a solicitation for resources to replace the Indian Point nuclear power plant should it be retired.

The proposal from the companies includes three transmission projects (NY Transco projects) and a Request for Proposals (RFP) process initiated by NYPA to consider generation and/or transmission alternatives. The PSC would lead the RFP assessment, with definitive plans to be presented to the PSC for approval by September 2013.

The need for the new resources is driven by the Governor's Energy Highway, a Blueprint for New York that was released last fall. The Blueprint calls for a contingency plan to provide for the closure of the 2,063-MW Indian Point Power Plant. Furthermore, last November the PSC directed Consolidated Edison to develop with NYPA a contingency plan for the closure of the facility. NYPA is a state-owned generator that supplies power to government customers in New York City, and Consolidated Edison is an investor-owned energy company.

The Governor of New York has expressed his desire to close the nuclear reactors, located about 40 miles north of Manhattan along the Hudson River, when the operating licenses expire in September 2013 and December 2015. The governor has stated that even the most unlikely possibility of an accident is too much in the heavily populated area.

The owner of Indian Point, Entergy, claims the reactors are safe and filed with the Nuclear Regulatory Commission (NRC) in 2007 to renew the Indian Point operating licenses for a 20-year extension.
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