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New interactive New England dashboard tracks energy capacity constraints

(Wed, 23 Jan 2019) In order to increase understanding of weather-related energy capacity issues in New England, EIA has begun publication of an interactive dashboard that provides timely information about energy market conditions in that region. The New England Dashboard (NED) provides an integrated view of the energy commodities—natural gas/liquefied natural gas, electricity, and petroleum products—and market-influencing fundamentals—such as weather—that can influence energy consumption, prices, flows, and security in the region.

EIA forecasts renewables will be fastest growing source of electricity generation

(Fri, 18 Jan 2019) EIA expects non-hydroelectric renewable energy resources such as solar and wind will be the fastest growing source of U.S. electricity generation for at least the next two years. EIA’s January 2019 <em>Short-Term Energy Outlook</em> (STEO) forecasts that electricity generation from utility-scale solar generating units will grow by 10% in 2019 and by 17% in 2020. According to the January STEO, wind generation will grow by 12% and 14% during the next two years. EIA forecasts total U.S.

EIA expects relatively flat natural gas prices, continued record production through 2020

(Thu, 17 Jan 2019) EIA’s January 2019 <em>Short-Term Energy Outlook</em> (STEO) expects several U.S. natural gas market trends from 2018 to continue into 2019 and 2020, including relatively stable Henry Hub natural gas prices and increasing natural gas production and exports. According to the STEO, total U.S. natural gas consumption is expected to increase slightly through 2020, with increases in the electric and industrial sectors offsetting decreases in the residential and commercial sectors.

Changes in marine fuel sulfur limits will put temporary upward pressure on diesel margins

(Tue, 15 Jan 2019) The January 2019 <em>Short-Term Energy Outlook</em> (STEO), released at noon today, for the first time includes analysis of the effect that upcoming changes to marine fuel sulfur specifications will have on crude oil and petroleum product markets. Beginning January 1, 2020, the International Maritime Organization’s (IMO) new regulations limit the sulfur content in marine fuels used by ocean-going vessels to 0.5% by volume, a reduction from the previous limit of 3.5%.

New electric generating capacity in 2019 will come from renewables and natural gas

(Thu, 10 Jan 2019) According to EIA’s latest inventory of electric generators, 23.7 gigawatts (GW) of new capacity additions and 8.3 GW of capacity retirements are expected for the U.S. electric power sector in 2019. The utility-scale capacity additions consist primarily of wind (46%), natural gas (34%), and solar photovoltaics (18%), with the remaining 2% consisting primarily of other renewables and battery storage capacity.

The Middle East, Africa, and Asia now drive nearly all global energy consumption growth

(Wed, 09 Jan 2019) Energy consumption in Asia, the Middle East, and Africa continues to grow rapidly, with about 20% growth in each region between 2010 and 2016, according to newly available data in EIA’s International Energy Statistics database. In particular, energy consumption has been increasing in the Middle East and Africa, driven by economic growth, increased access to energy markets, and quickly growing populations. Energy consumption in Asia continues to grow even as energy consumption in China declined between 2015 and 2016.

Wholesale power prices were generally higher in 2018, with both winter and summer spikes

(Tue, 08 Jan 2019) Wholesale electricity prices during 2018 at major trading hubs in the United States were generally higher than in 2017. Wholesale prices in 2018 ranged from 14% higher than in 2017 in the area served by the Midwest Independent System Operator (MISO) to 60% higher in the ERCOT electricity market serving most of Texas. Monthly wholesale electricity prices were also more volatile in 2018 than in 2017, seeing spikes during the winter and summer months.

Country Analysis Briefs

(Mon, 07 Jan 2019) In response to stakeholder feedback, the U.S. Energy Information Administration has revised the format of the Country Analysis Briefs. Future updates will be in two complementary formats: the Country Analysis Executive Summary provides an overview of recent developments in a country's energy sector and the Background Reference provides historical context. Archived versions will remain available in the original format.

U.S. average retail gasoline prices ended the year lower than they started

(Fri, 04 Jan 2019) U.S. regular retail gasoline prices averaged $2.72 per gallon (gal) in 2018, 30 cents/gal (13%) higher than in 2017 and 57 cents/gal higher than in 2016. However, a rapid price decline beginning in October led to U.S. average regular gasoline prices ending the year lower than they began for the first time since 2015. In 5 of the 10 cities for which EIA collects weekly retail price data, gasoline prices exceeded $3.00/gal at least once in 2018.

Crude oil prices end the year lower than they began the year

(Thu, 03 Jan 2019) Brent crude oil averaged $72 per barrel (b) in 2018, and West Texas Intermediate (WTI) averaged $65/b in 2018. The prices for both crude oils finished the year lower than they began it. Brent and WTI each hit their highest prices during the year on October 3 at $86/b and $76/b, respectively. Prices for each benchmark fell quickly after that, and on December 24, Brent reached an annual low of $50/b and WTI reached an annual low of $43/b.

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