EIA: Vehicles used more electricity than rail systems in 2023

by Talk Business & Politics staff (staff2@talkbusiness.net)

Light-duty vehicles in the United States used more electricity than rail systems for the first time in 2023 amid rising sales of electric vehicles (EVs), according to the U.S. Energy Information Administration (EIA).

A new EIA analysis released Monday (May 20) shows electricity consumption by EVs rose to 7,596 gigawatt-hours in 2023, almost five times the consumption in 2018. Annual electricity consumption by railways has remained flat at about 7,000 gigawatt-hours over the past two decades.

Railways has been the largest electricity end-user in the transportation sector since 2003. Over that period, municipal railway systems or electrified passenger rail have had limited expansion.

EIA: Vehicles used more electricity than rail systems in 2023

Natural gas consumption hits high amid cold January

by Jeff Della Rosa (JDellaRosa@nwabj.com)

U.S. natural gas consumption rose to a record high of 118 billion cubic feet per day in January, according to the U.S. Energy Information Administration (EIA). Cold weather increased demand and reduced natural gas production, which led to high inventory withdrawals.

The EIA released Tuesday (Feb. 6) the Short-Term Energy Outlook for February that shows natural gas inventories are expected to remain above the previous five-year average, despite the high withdrawals in January. The inventories are projected to be 15% higher at the end of this winter compared to the previous five-year average because of forecasted milder weather.

U.S. natural gas production is expected to rise to 105 billion cubic feet per day in February and remain near that level for the rest of 2024. This is expected to result in prices falling from an average of $3.18 per million British thermal units in January to about $2.40 per million British thermal units in February and March.

Natural gas consumption hits high amid cold January

EIA: Solar to lead U.S. electricity generation growth through 2025

by Jeff Della Rosa (JDellaRosa@nwabj.com)

Solar electric generation is expected to account for 7% of total U.S. electricity generation in 2025, up from 4% in 2023, according to the U.S. Energy Information Administration (EIA).

On Tuesday (Jan. 9), the EIA released its January Short-Term Energy Outlook that shows almost 80 gigawatts of solar power will start operating in the next two years, increasing U.S. solar generating capacity by 84% and making solar the leading source of growth in U.S. electricity generation through 2025.

“We are experiencing a significant shift in U.S. electric generation, as solar generation grows rapidly, taking market share from coal and tempering the growth in natural gas usage,” said EIA Administrator Joe DeCarolis. “Coal and natural gas remain important to the U.S. electric grid, even as variable renewable resources such as solar and wind grow.”

EIA: Solar to lead U.S. electricity generation growth through 2025

Fewer uncompleted wells may hurt oil production growth; coal-fired generation to fall

by Jeff Della Rosa (JDellaRosa@nwabj.com)

Crude oil production growth could be limited in the United States amid fewer drilled but uncompleted wells and natural gas pipeline constraints, according to the U.S. Energy Information Administration (EIA). Meanwhile, high natural gas prices aren’t expected to keep coal-fired electricity generation from declining this year.

Between July 2020 and September 2022, more oil wells were completed than were drilled in the United States. As a result, the number of drilled but uncompleted wells fell to 4,333, the fewest since at least December 2013.

The decline in the number of drilled but uncompleted wells has coincided with high oil prices and rising domestic production. According to Baker Hughes, the number of active oil rigs has risen to 610 as of Oct. 14 from 172 rigs on Aug. 14, 2020. While the number of active oil-directed rigs that drill new wells increased earlier this year, the rig count has remained flat since July, according to the EIA.

https://talkbusiness.net/2022/10/fewer-uncompleted-wells-may-hurt-oil-production-growth-coal-fired-generation-to-fall/

Residents can expect higher heating bills this winter, according to EIA

by Talk Business & Politics staff (staff2@talkbusiness.net)

U.S. households will likely pay more to heat their homes this winter, according to the U.S. Energy Information Administration (EIA). Compared to last winter, households are expected to spend 28% more on natural gas, 27% more on heating oil, 10% more on electricity and 5% more on propane.

On Wednesday (Oct. 12), the EIA released its 2022 Winter Fuels Outlook showing that U.S. residential energy prices will be higher this winter and heating fuel consumption is projected to be higher amid a colder winter than last year.

The National Oceanic and Atmospheric Administration expects the United States to have a slightly colder winter than last year, leading to higher consumption levels. The higher energy prices and consumption levels contribute to higher heating costs for households.

https://talkbusiness.net/2022/10/residents-can-expect-higher-heating-bills-this-winter-according-to-eia/

Natural gas power plants generate record electricity levels in July

by Jeff Della Rosa (JDellaRosa@nwabj.com)

The amount of electricity produced from coal continues to fall, while the amount made from natural gas hits record highs, according to the U.S. Energy Information Administration (EIA).

On July 21, electric power generated by natural gas-fired power plants reached 6.37 million megawatts-hours. New record highs also were set on July 18 and 20. Despite high natural gas prices, demand for natural gas for electricity generation was strong throughout July because of above-normal temperatures, recent natural gas-fired capacity additions, and reduced coal-fired electricity generation.

U.S. electricity demand typically peaks in the summer because of demand for air conditioning, and July ranked as the third hottest on record in the United States. Before this year, the previous daily peak for natural gas-fired electricity generation happened on July 27, 2020, when natural gas prices were historically low.

https://talkbusiness.net/2022/08/natural-gas-power-plants-generate-record-electricity-levels-in-july/

EIA says to expect ‘historically high’ energy prices through 2023

by Jeff Della Rosa (JDellaRosa@nwabj.com)

U.S. energy prices are expected to remain high through 2023 as a result of economic recovery and the Russian invasion of Ukraine, according to the U.S. Energy Information Administration (EIA).

The EIA released Tuesday (June 7) the June Short-Term Energy Outlook that shows the prices of oil, natural gas, coal and electricity will remain high through next year.

The share of renewables in U.S. electricity generation is expected to rise as a result of the high prices of natural gas and coal. Renewables are largely expected to offset the decline in coal’s share. Wind and solar generation are projected to account for more than 11% of U.S. electricity generation this summer, up from less than 10% in summer 2021. The natural gas share is projected to fall over the next two years but at a slower rate than coal.

https://talkbusiness.net/2022/06/eia-says-to-expect-historically-high-energy-prices-through-2023/

Report: Rising crude oil production should lead to lower fuel prices

by Jeff Della Rosa (JDellaRosa@nwabj.com)

U.S. crude oil production is expected to exceed pre-pandemic levels in 2023, and as production and inventories rise, fuel prices are expected to fall, according to the U.S. Energy Information Administration (EIA). The production is expected to average 12.4 million barrels per day in 2023, surpassing the record high set in 2019.

The EIA released Tuesday (Jan. 11) the January Short-Term Energy Outlook which projects that U.S. crude oil production will rise for nine consecutive quarters, from the fourth quarter of 2021 through 2023. Also, OPEC is expected to increase crude oil production to 28.9 million barrels per day in 2023, up from an average of 26.3 million barrels per day in 2021.

U.S. commercial crude oil inventories will rise to 465 million barrels at the end of 2023, which is about 11% higher than the inventories at the end of 2021.

https://talkbusiness.net/2022/01/report-rising-crude-oil-production-should-lead-to-lower-fuel-prices/