Virginia

IEEFA Research

IEEFA U.S.: Duke IRPs overstate likely future demand growth

IEEFA U.S.: Duke IRPs overstate likely future demand growth

More realistic estimates would undercut case for new gas-fired generation

February 3, 2021 (IEEFA) — Forecasts used by Duke Energy that predict steadily rising demand for electricity in the Carolinas ignore the company’s sales history in the past 15 years, which have been essentially flat, and should be challenged by state regulators, according to a new study by the Institute for Energy Economics and Financial […]

IEEFA U.S.: Duke IRPs focus on new gas-fired generation, creating serious stranded-asset risks

IEEFA U.S.: Duke IRPs focus on new gas-fired generation, creating serious stranded-asset risks

Combined-cycle plants would be forced to retire well before end of operating life to meet 2050 net-zero goal

January 26, 2021 (IEEFA) — A pair of integrated resource plans (IRPs) for Duke Energy’s two North Carolina utilities rely heavily on the construction of gas-fired power plants that would have to be retired long before the end of their life span, according to a new report by the Institute for Energy Economics and Financial […]

IEEFA U.S.: FERC gives blank check approval to pipeline builders, while investors and consumers pick up costs

IEEFA U.S.: FERC gives blank check approval to pipeline builders, while investors and consumers pick up costs

Commission’s 21-year-old pipeline policy puts contracts ahead of utility customers

December 17, 2020 (IEEFA) — The federal agency responsible for approving interstate gas pipeline projects is basing its decisions on contracts rather than on today’s consumer energy needs or the public interest, according to a report released today by the Institute for Energy Economics and Financial Analysis. The report—FERC’s Failure to Analyze Energy Market Forces—details […]

IEEFA U.S.: Virginia coal plant’s future isn’t bright: preparation for  transition should commence now

IEEFA U.S.: Virginia coal plant’s future isn’t bright: preparation for transition should commence now

Virginia City Hybrid Energy Center (VCHEC), one of the newest in U.S., risks closure due to market forces

December 16, 2020 (IEEFA)—Retiring the Virginia City Hybrid Energy Center (VCHEC) will bring unnecessarily abrupt economic hardship to Wise County if state and local officials do not begin to plan now for a transition, concludes a report published today by the Institute for Energy Economic and Financial Analysis. The 8-year-old coal-fired power plant, owned by […]

IEEFA U.S.: Investors in gas-fired projects in largest regional power system face substantial risks

IEEFA U.S.: Investors in gas-fired projects in largest regional power system face substantial risks

Eleven PJM projects under development may fail to prove financially viable

October 5, 2020 (IEEFA) — The landscape for developers of natural gas-fired power plants in the nation’s largest regional power system has shifted dramatically over the last decade, according to a joint study by the Applied Economics Clinic and the Institute for Energy Economics and Financial Analysis. The Pennsylvania-New Jersey-Maryland (PJM) system coordinates the flow […]

IEEFA U.S.: Long-term contracts with American Municipal Power (AMP) saddle local communities with high prices

Dozens of communities in five states pay far above market price for electricity from Prairie State coal plant and Ohio River hydro projects

September 21, 2020 (IEEFA) — Long-term contracts with American Municipal Power (AMP) have stuck 83 communities in 41 counties across five states with extraordinarily high electricity prices for half a century, according to a briefing note released today by the Institute for Energy Economics and Financial Analysis. The largest AMP member, Cleveland Public Power (CPP), […]

IEEFA report: Coal-fired power generation collapsing across Southeast U.S., longtime bastion of the industry

IEEFA report: Coal-fired power generation collapsing across Southeast U.S., longtime bastion of the industry

Decade-long influx of cheap gas started regional transition; solar expected to finish it

Oct. 1, 2019 (IEEFA U.S.) – Abundant gas supplies have transformed the electricity-generation sector in the traditionally coal-dominated Southeast U.S. Planned new solar construction in the region will add momentum to the energy transition and likely lead to the zeroing out of all coal generation in a number of states in the near future, finds […]

IEEFA report: The vanishing case for the Atlantic Coast Pipeline

IEEFA report: The vanishing case for the Atlantic Coast Pipeline

Declining demand and more affordable renewables raise new questions about viability

January 29, 2019 (IEEFA) — Diminishing consumer demand coupled with more affordable renewables are casting doubt on the overall feasibility and potential profitability of the Atlantic Coast Pipeline, according to a report released today by the Institute for Energy Economics and Financial Analysis (IEEFA) and Oil Change International. The report, The Vanishing Need for the Atlantic […]

IEEFA report: U.S. likely to end 2018 with record decline in coal-fired capacity

IEEFA report: U.S. likely to end 2018 with record decline in coal-fired capacity

Utilities accelerate shutdown dates; 22 plants in 14 states this year; hard-hit regions include the Ohio River Valley

Oct. 25, 2018 — U.S. coal-fired power plant closures are on pace this year to set a record, concludes a research report published today by the Institute for Energy Economics and Financial Analysis. The report — “Record Drop in U.S. Coal-Fired Capacity Likely in 2018: Utilities Are Accelerating Shutdown Dates as Plants Grow Increasingly Uneconomic”— […]

IEEFA Research Brief: Coal in Decline, Blow by Blow

IEEFA Research Brief: Coal in Decline, Blow by Blow

Plant Closings and the Likely Effects on Specific Companies and Mines

We’ve published a research brief today that presents an expansive snapshot of a moving target: the decline in U.S. coal-fired generation nationally. As global energy markets continue to undergo rapid transformation, change has swept the U.S. as well. Our brief—“U.S. Coal Phase-out, Blow by Blow: Plant Closings and the Likely Corresponding Effect on Specific Companies […]

April 21, 2017 Read More →

More News and Commentary

Stop-work order lifted on Mountain Valley pipeline project

Associated Press: Mountain Valley Pipeline has another two years to finish a natural gas pipeline. The Roanoke Times reports that the Federal Energy Regulatory Commission [FERC] also lifted a stop-work order for all but a 25-mile segment of the interstate transmission line that includes the Jefferson National Forest and adjacent land. While acknowledging problems with […]

October 12, 2020 Read More →
IEEFA U.S.: Investors in gas-fired projects in largest regional power system face substantial risks
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IEEFA U.S.: Investors in gas-fired projects in largest regional power system face substantial risks

Eleven PJM projects under development may fail to prove financially viable

October 5, 2020 (IEEFA) — The landscape for developers of natural gas-fired power plants in the nation’s largest regional power system has shifted dramatically over the last decade, according to a joint study by the Applied Economics Clinic and the Institute for Energy Economics and Financial Analysis. The Pennsylvania-New Jersey-Maryland (PJM) system coordinates the flow […]

Dominion, Orsted begin producing power from 12MW offshore wind pilot in Virginia

Offshore Engineer: Dominion Energy and Orsted have brought online two offshore wind turbines, which are part of the 12-megawatt Coastal Virginia Offshore Wind (CVOW) pilot project, offshore Virginia Beach, USA.  “We’re excited that the two CVOW wind turbines are officially generating power as electrical and reliability testing gets underway 27 miles off the coast of […]

October 1, 2020 Read More →
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IEEFA U.S.: Long-term contracts with American Municipal Power (AMP) saddle local communities with high prices

Dozens of communities in five states pay far above market price for electricity from Prairie State coal plant and Ohio River hydro projects

September 21, 2020 (IEEFA) — Long-term contracts with American Municipal Power (AMP) have stuck 83 communities in 41 counties across five states with extraordinarily high electricity prices for half a century, according to a briefing note released today by the Institute for Energy Economics and Financial Analysis. The largest AMP member, Cleveland Public Power (CPP), […]

Mitsubishi wins orders for hydrogen-compatible turbines at three planned U.S. gas-fired projects

S&P Global Market Intelligence ($): The developers of more than $3 billion in planned natural gas-fired generation projects in New York, Ohio and Virginia have selected Mitsubishi Power Americas Inc., a Florida-based affiliate of Japanese industrial giant Mitsubishi Heavy Industries Ltd., to supply hydrogen-compatible gas turbines along with the tools for generating and storing hydrogen […]

September 4, 2020 Read More →

IEEFA update: Another pipeline tripped up by failure to obtain a Clean Water Act approval

State action thwarts another U.S. federal effort to expand fossil fuel-burning as financial realities and alternative solutions embolden a North Carolina agency

While the debate rages over the Mountain Valley Pipeline, a large proposed extension has just hit a brick wall.   The main Mountain Valley Pipeline, which would run 303 miles from West Virginia to Pittsylvania County in Virginia, is not yet fully built. Construction was speeding along until a U.S. appeals court ruled that it had […]

August 13, 2020 Read More →

Duke Energy takes $1.6 billion charge to account for cancelled Atlantic Coast gas pipeline project

Reuters: U.S. energy company Duke Energy Corp said Monday it took a $1.6-billion after-tax charge in the second quarter for the cancellation of the Atlantic Coast natural gas pipeline from West Virginia to North Carolina. Atlantic Coast was the most expensive U.S. gas pipeline under construction when Duke and partner Dominion Energy Inc exited the […]

August 11, 2020 Read More →

Atlantic Coast, Keystone XL, Dakota Access — for pipeline companies, winning ain’t what it used to be

Project cancellations highlight larger stressors in the oil and gas industry

If you are a pipeline developer, landmark court victories just aren’t what they used to be. Dominion Energy and Duke Energy announced on Sunday that they are canceling their proposed Atlantic Coast Pipeline just 20 days after they won a 7-2 decision in the U.S. Supreme Court authorizing them to build the pipeline underneath the Appalachian Trail. […]

ESG issues played key role in Dominion’s decision to get out of the gas business—CEO

S&P Global Market Intelligence ($): Dominion Energy Inc. pointed to the growing importance of environmental, social and governance practices as one of the “key considerations” in weighing the sale of its midstream gas assets and narrowing its focus on cleaner energy resources. Dominion announced the sale of its natural gas transmission and storage business to […]

July 13, 2020 Read More →

Gas pipeline setbacks pushing U.S. utilities to embrace renewables, analysts say

Greentech Media: Legal challenges halted several major pipeline projects across the U.S. in recent days, underscoring a seismic shift facing the U.S. utility industry: the rise of renewables as a potentially less costly and risky alternative to fossil fuels. Over the weekend Dominion Energy and Duke Energy, two of the country’s biggest utilities, canceled their Atlantic […]

July 7, 2020 Read More →