In 2021, 26% of eligible U.S. customers participated in their state’s retail choice program, or 13.2 million U.S. residential electric customers, based on EIA’s Annual Electric Power Industry Report data. The participation rate in U.S. residential retail choice programs remained relatively unchanged from 2019 to 2021, following several years of modest growth. In states with…
WEATHER: NEAR NORMAL TEMPERATURES THROUGH MID-MARCH HAVE WE HIT THE BOTTOM OF THE NATURAL GAS MARKET? NATURAL GAS MARKET PRICES CREEP HIGHER DESPITE GOOD STORAGE NUMBERS. EIA: NATURAL GAS STORAGE REPORT Electricity: PJM BGE HUB FORWARD POWER PRICING Electricity: PJM AD HUB PRICING 2023 Electricity, which usually runs parallel to Natural Gas in market movement,…
FEBRUARY 2023: Electricity Insights After adjusting for inflation, costs for major U.S. utilities to produce electricity rose 6% in 2021 due to rising fuel costs. Electricity production costs declined for several years as natural gas prices fell and new low-cost renewable generators came online. However, the cost to deliver electricity across transmission and distribution lines…
Natural Gas Market Continues to Dominate Headlines! WEATHER: COLD FRONT PUSHING THROUGH GREAT PLAINS AND UPPER MIDWEST With the onset of Winter Storm Olive, the gas and electricity markets have slightly increased, with Natural Gas moving above $2.50. This will likely continue for the next few days unless the system moves north or breaks apart.…
Mild weather and impressive storage numbers keep the natural gas price low. GAS KEEPS DROPPING IN MILD WEATHER, AND SURPLUS STORAGE NATURAL GAS STORAGE IS NOW 16.8% HIGHER THAN LAST YEAR. NATURAL GAS STORAGE REPORT A BIT OF COOLER AIR IS MOVING IN FROM THE NORTHEAST Cold weather from Western Canada will bleed into the…
On December 23, 2022, natural gas consumption in the U.S. Lower 48 states reached a daily record high of 141.0 billion cubic feet (Bcf), according to estimates from S&P Global Commodity Insights. The previous record was 137.4 Bcf, set on January 1, 2018. Below-normal temperatures in mid-to-late December increased demand for natural gas used for…
Natural gas-fired power plants generated 2% of the electricity produced in Pennsylvania in 2001. Over the next 20 years, natural gas-fired generation in the state will increase rapidly, reaching 52% in 2021. Natural gas displaced most coal-fired generation, which fell from 57% of the electricity generated in Pennsylvania in 2001 to 12% in 2021. Natural…
In the Energy Information Agency’s latest Short-Term Energy Outlook, they expect that increased U.S. power generation from new renewables capacity—primarily wind and solar—will reduce generation from coal-fired and natural gas-fired power plants in 2023 and 2024. With the new solar and wind projects coming online this year, the EIA forecasts these two energy sources will…