Buzz word heard at the Gov. Bob McDonnell's energy conference: whipsaw.
A financial term that refers a sudden change in direction, it was mentioned frequently during discussions over ever-changing electricity demand forecasts.
“I think whipsawing is a big problem,” said Ed Tatum, a vice president and electrical engineer at Old Dominion Electric Cooperative.
The cooperative was charging ahead with plans to build Virginia’s largest coal-fired power plant in Surry County when it suddenly shelved the project last year. At the time, officials blamed uncertain energy legislation and the slumping economy.
The cooperative continues to seek permits to build the $6 billionÖ facility, but whether that will happen is unknown. Many utility companies, including Dominion Virginia Power, are moving away from coal in favor of natural gas and other energy sources.Copyright © 2015, Los Angeles Times