The long-term planning instruments used by regulated utility companies in the US are called integrated resource plans (IRPs), which outline the procedures for managing power networks and obtaining resources. IRPs are submitted to state regulators for approval.
As the US moves toward a more energy-reliant economy, IRPs will become more crucial in helping to map out the country's future.Georgia Power submitted its most current IRP in 2022, but announced in late October that it had to update its estimates due to "extraordinary economic growth" in the US state, which is home to several new industrial ventures, including factories that produce batteries for electric vehicles.
The 2022 IRP, which was approved by the Georgia Public Service Commission in July of last year, had projections indicating that by 2031, the utility will need over 4,000MW more energy capacity in order to keep up with the shifting demand for energy. The utility sought to acquire 6,000MW of renewable energy capacity by 2035. On October 27, however, the corporation announced that the growth in demand by 2030 would really be nearly twice as much as earlier predicted, coming in at 6,600MW.
Georgia Power, on the other hand, stated that it expected to need to increase its fleet of battery energy storage systems, which includes distributed energy resources and renewables plus storage hybrid plants, as well as add about 10,000MW of renewable energy capacity by 2035. The utility, a division of utility holding company Southern Company, is requesting approval for additional capacity in addition to the low carbon resources. This capacity includes the right to develop, own, and run three simple cycle combustion turbine gas power plants at its Plant Yates power station complex, with a combined capacity of 1,400MW.