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/