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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

Wyoming Commission Approves Settlement Agreement for PacifiCorp Wind Expansion

LCG, April 18, 2018--The The Wyoming Public Service Commission last Thursday approved a settlement agreement between PacifiCorp, the Wyoming Industrial Energy Consumers, the Wyoming Office of Consumer Advocate and the Interwest Energy Alliance on the new wind and transmission portions of PacifiCorp's Energy Vision 2020 proposal. The commission also approved the Certificates of Public Convenience and Necessity (CPCNs) that are needed for construction of the Wyoming-based wind and transmission projects.
Pending approval from other state commissions, acquisition of rights of way, and receipt of permits, construction on the wind and transmission projects is expected to start in 2019.

The approved settlement includes three new Wyoming wind projects that will provide a total 1,150 MW of new electric generating capacity, which represents a nearly 60 percent expansion of PacifiCorp's current owned and contracted wind fleet. Also included in the agreement is a 140 mile high-voltage transmission line in Wyoming that will increase capacity to deliver wind power to PacifiCorp's transmission system. However, as part of the settlement agreement, a previously announced 161 MW wind project in Uinta County, Wyoming will no longer be included in the initiative. PacifiCorp also agreed to additional customer protections in the event of cost overruns as part of the agreement.

In addition to the new wind projects and transmission line, the company's Energy Vision 2020 initiative would upgrade, or "repower," the company's existing wind fleet in Wyoming, Washington and Oregon with longer blades and newer technology to boost output and extend the life of the projects. Approval of the repowering plan is being considered separately by the Wyoming commission and still pending. Components of the plan also are still awaiting state regulatory approval in Utah, Oregon and Idaho.

The Energy Vision 2020 projects were identified in the company's 2017 Integrated Resource Plan as the most cost-effective option to meet customers' energy needs over the next 20 years. The Energy Vision 2020 initiative was designed to: (i) upgrade or "repower" the company's existing wind fleet with longer blades and newer technology, (ii) add approximately 1,100 MW of new wind capacity, and (iii) build the new 140-mile Gateway West transmission. Most of the new investments will be in Wyoming.

Rocky Mountain Power first announced the wind and transmission investments in April 2017 as part of its broader long-term energy plan. The company submitted filings for the plan last summer in Wyoming, Utah and Idaho to state regulators. By acting to complete the projects by 2020, the company expects to use federal production tax credits to provide a net cost savings to customers over the life of the projects.
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