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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

NRC Defers Decision Point for Duke's Proposed Lee Nuclear Station

LCG, July 31, 2013--The United States Nuclear Regulatory Commission (NRC) stated that it will not make a decision on Duke Energy's combined construction and operating license (COL) application for two nuclear units in South Carolina until 2016 due to federal budget cuts and Duke's decision late last year to change the location of the reactors by approximately 66 feet. The new schedule delays the NRC decisions by approximately three years.

In February 2008, Duke received notification from the NRC that the COL application to install two Westinghouse AP1000 (advanced passive) reactors at the Lee Nuclear Station that was submitted in December 2007 was accepted and docketed.

The NRC stated yesterday that the final hearing on the COL application is now expected to be held in April 2016, a delay from the previous target of March 2013.

Another factor driving the delay is a federal court decision that prevents the NRC from issuing new reactor licenses until its waste confidence rule is revised, which is anticipated to occur in September 2014.

Duke has not made a final decision to build the Lee Nuclear Station, but is proceeding with the COL application process to maintain the option to construct the reactors to meet future needs. Duke's proposal is relatively unique for the United States in that Duke plans to build the reactors at a greenfield site, rather than to add capacity at an existing nuclear power station. The greenfield site is located in Cherokee County, South Carolina.
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