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In August, we published our list of the
top 10 utility regulation trends of 2020, so far. With a tumultuous 2020 largely in the rearview mirror, we now look back on the 10 trends that defined the utility regulatory arena this year. It is difficult to overstate the influence COVID has had on virtually every facet of the energy sector – and utilities were no exception. Nor is it possible to ignore the impact that extreme weather events have had on utility planning and operations. On top of that, the outcome of the presidential election promises to shape the federal energy regulatory landscape for years to come. Because of – or perhaps in spite of – these transformational shifts, advanced energy is well-positioned for continued growth in 2021.
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The filing kicks off a two-year federal review process. Pending approval, construction of the project is scheduled to start in 2024.
Dominion estimates the wind farm will provide enough renewable electricity to power up to 660,000 homes upon the project’s completion in 2026. The project could create about 900 jobs and $143 million in economic impact annually during construction, and 1,100 jobs and nearly $210 million in economic impact each year during operation of the turbines.
“This is an important step in the process toward bringing commercial-scale offshore wind to the Commonwealth and shows Dominion Energy is committed to delivering the clean, renewable and reliable energy our customers expect from us,” Joshua Bennett, Dominion Energy’s vice president of offshore wind, said in a statement.
Filing with Bureau of Ocean Energy Management begins approximately two-year federal review process
Company on schedule to start construction on 2,640-megawatt Coastal Virginia Offshore Wind (CVOW) in 2024
CVOW estimated to create hundreds of millions of dollars of positive economic impact, hundreds of jobs, enough renewable energy to power up to 660,000 homes
RICHMOND On Dec. 18, 2020 Dominion Energy announced the company has filed with the Bureau of Ocean Energy Management (BOEM) the required Construction and Operations Plan (COP) to build the 2,640-megawatt Coastal Virginia Offshore Wind (CVOW) commercial project, the largest planned offshore wind farm in the United States. This is an important step in the process toward bringing commercial-scale offshore wind to the Commonwealth and shows Dominion Energy is committed to delivering the clean, renewable and reliable energy our customers expect from us, said Joshua Bennett, Dominion Energy s vice president of offshore wind.
IEEFA U.S.: Investors would best avoid two proposed Virginia combined-cycle gas plants
Unneeded projects, if they go forward, will likely end up as stranded assets
Investors should think twice before putting any money into two proposed natural gas-fired combined-cycle power plants in central Virginia. The rapidly moving transition to non-fossil generation resources is almost certain to turn the two plants, which would be only a mile apart, into stranded assets well before the end of their normal life expectancies.
The two plants, the 1,060-megawatt (MW) C4GT unit and the 1,650MW Chickahominy facility, would feed into PJM, the 13-state (plus the District of Columbia) transmission operator that already has far more generating capacity than it needs. The system’s peak demand this past summer was 144,266MW on July 20; total available capacity topped 187,000MW, giving PJM a reserve margin of just under 30% almost double its target margin of 15.5%.
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Gulf Oil & Gas
Dominion Energy announced the company has filed with the Bureau of Ocean Energy Management (BOEM) the required Construction and Operations Plan (COP) to build the 2,640-megawatt Coastal Virginia Offshore Wind (CVOW) commercial project, the largest planned offshore wind farm in the United States. This is an important step in the process toward bringing commercial-scale offshore wind to the Commonwealth and shows Dominion Energy is committed to delivering the clean, renewable and reliable energy our customers expect from us, said Joshua Bennett, Dominion Energy s vice president of offshore wind. We look forward to working with the Bureau of Ocean Energy Management as the CVOW commercial project moves through the permitting process.