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News
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LCG, August 14, 2024 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2025, highlighting the region's rapid transition toward increased reliance on renewable energy resources and battery storage.
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LCG, August 14, 2024 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2025, highlighting the region's rapid transition toward increased reliance on renewable energy resources and battery storage.
Read more
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Industry News
Duke to Complete Energy Storage Project in Ohio this Year
LCG, May 29, 2015-Duke Energy, LG Chem and Greensmith Energy Management Systems announced Tuesday plans to install a 2-MW, battery-based energy storage system at a Duke facility in New Richmond, Ohio. The storage system, which is expected to be operational late this year, is designed to enhance reliability and increase stability on the electric power grid.
The project will be installed at Duke Energy's retired W.C. Beckjord coal-fired power plant, where a separate 2-MW storage system already exists. The new storage project will support regulating electric grid frequency for PJM, the regional transmission organization. LG Chem will provide the integrated operating system, comprised of advanced lithium-ion batteries, and Greensmith will provide intelligent energy storage control, analytics software, and system integration services.
Duke Energy's vice president of commercial transmission stated, "Fast-responding energy storage is recognized for the tremendous benefits it provides to grid operations, because it can instantaneously absorb excess energy from the grid or release energy. Delivering that power in seconds, as opposed to a power plant that could take 10 minutes or more to ramp up, is the unique value the battery system provides to grid operators. This accurate and rapid response will help improve the overall reliability and economic efficiency of the grid. It also demonstrates the capabilities of new technologies and the potential for future applications, such as large-scale integration of renewable energy onto the grid."
"The combination of Greensmith's software with LG Chem's battery technology will provide Duke Energy with a system that exemplifies how utilities can leverage grid-scale energy storage to improve operations and increase profitability," said Greensmith's CEO.
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UPLAN-NPM
The Locational Marginal Price Model (LMP) Network Power Model
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UPLAN-ACE
Day Ahead and Real Time Market Simulation
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UPLAN-G
The Gas Procurement and Competitive Analysis System
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PLATO
Database of Plants, Loads, Assets, Transmission...
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