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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

FPL Announces Plans to Renew Operating License at Turkey Point to 2053

LCG, February 7, 2018--Florida Power & Light Company (FPL) recently announced plans to extend the carbon-free energy capacity and environmental restoration work at its Turkey Point power generation complex. The announcement included plans to file with the United States Nuclear Regulatory Commission (NRC) to renew the units' operating licenses. FPL estimates that renewing the licenses would save FPL customers billions of dollars by avoiding the need for other more expensive power generation.

FPL's plan to pursue a second 20-year license renewal for each nuclear unit would be the first such application in the U.S. The license renewal would ultimately allow for an 80-year operating life for the units, which would operate until 2052 and 2053.

The Turkey Point power generation complex, located in southern Miami-Dade, includes two zero-emissions nuclear generating units (Units 3 and 4) and one high-efficiency natural gas unit (Unit 5). FPL has invested over $1 billion to upgrade Turkey Point's nuclear units in recent years, adding approximately 250 MW of new carbon-free capacity. In 2018, the company plans to conduct additional upgrades on the existing nuclear units that are expected to further increase generation by a combined 40 MW of capacity.

Turkey Point is one of four U.S. nuclear power plants to initiate the license renewal process for a second, 20-year license renewal. The other nuclear plants with applications for a second renewal are Surry Power Station and North Anna Power Station in Virginia and Peach Bottom Atomic Power Station in Pennsylvania. All four plants have two generating units, which tends to lower the plant costs (relative to nuclear plants with one reactor).

FPL sees these zero-emission energy generation facilities as essential to its broader efforts to preserve clean air and address climate change. FPL also announced its related plans to supplement nuclear and natural gas generation at Turkey Point with zero-emissions solar energy and advanced battery storage capabilities on site and/or nearby.

The long term investment at Turkey Point also supports FPL's environmental commitment as it relates to water management. FPL sees the modernization of the Turkey Point energy complex as a means to provide a unique opportunity to help Miami-Dade solve its biggest environmental infrastructure challenge - addressing ocean outfall and water reuse. Currently, the County disposes of more than 100 million gallons of wastewater a day in the ocean, and it faces a state mandate to find ways to reuse much of this wastewater.

"I am proud to have Miami-Dade County partner with Florida Power and Light and bring our 2.7 million residents a viable, sustainable solution to our wastewater challenge," said the Miami-Dade County Mayor. "Our Water and Sewer Department is working directly with FPL to develop a plan that will put otherwise wasted water to good use, which will not only benefit the environment but also all Miamians. In fact, this plan has the potential to recycle more than 20 billion gallons of freshwater and prevent the removal of 10 billion gallons of Floridan aquifer water each year."

"This project is an exciting opportunity to make real progress in conserving water resources in South Florida. The teaming of the Miami-Dade Water and Sewer Department with Florida Power & Light represents a paradigm shift in water management toward resilient systems that integrate wastewater and stormwater systems with regional energy infrastructure. We look forward to watching this industry-leading opportunity," said the co-CEO of the Water Research Foundation, a not-for-profit research cooperative that advances the science of water to protect public health and the environment.
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