U.S. power plant operators generated 6.9 million megawatthours (MWh) of electricity from natural gas on a daily basis in the Lower 48 states on July 9, 2024, probably the most in history and certainly since at least January 1, 2019, when we began to collect hourly data about natural gas generation. […]
Category: Today in Energy
Natural gas storage injections remain below five-year average so far this summer
Injections into natural gas storage in the Lower 48 states since April 1 have totaled 950 billion cubic feet (Bcf), according to our July 18 Weekly Natural Gas Storage Report. So far this injection season (April 1–October 31), the amount of natural gas injected into storage (less withdrawals) is 15% (166 Bcf) less than the […]
Less natural gas consumption in Europe is keeping storage full
Consumption of natural gas in Europe consistently decreased since mid-2022, driven by a combination of mild winter weather and government policies aimed at reducing natural gas consumption. In 2023, natural gas consumption in the European Union’s 27 member countries (EU-27) declined 18% from the previous five-year (2017–21) average according to Eurostat data. During the first […]
U.S. wholesale natural gas spot prices fell to record lows in first half 2024
The average monthly wholesale spot natural gas price at the U.S. benchmark Henry Hub fell by 20% to $2.56 per million British thermal units (MMBtu) between January and June of this year, according to data from Refinitiv Eikon. In January, the Henry Hub price averaged $3.18/MMBtu, then dropped to $1.49/MMBtu in March, marking the lowest […]
California residents are increasingly pairing battery storage with solar installations
California residents are increasingly pairing battery storage with solar installations, according to the latest preliminary data in our Monthly Electric Power Industry Report. […]
U.S. production capacity for sustainable aviation fuel to grow
Production capacity of sustainable aviation fuel (SAF) in the United States could increase from around 2,000 barrels per day (b/d) to nearly 30,000 b/d in 2024 if all announced capacity additions come on line. Developers expect Phillips 66’s Rodeo Renewed project to produce up to about 10,000 b/d of SAF beginning this summer, and they […]
U.S. coal shipments declined 8% in 2023 as coal consumption fell sharply
The amount of coal transported in the United States decreased 8% in 2023, continuing a trend in which coal shipments have generally decreased over the past two decades as coal’s share of power generation has declined in the United States. The amount of coal transported to power plants, which are often located far from mines, […]
Energy trade value between Mexico and the United States fell in 2023 on lower fuel prices
The value of all energy trade between the United States and Mexico decreased almost 15% from $77.8 billion in 2022 to $66.5 billion in 2023, adjusted for inflation. Lower fuel prices more than offset the increase in the volume of energy trade between the two countries. Energy trade value represents the total value of energy […]
Global trade in liquefied natural gas continued to grow in 2023
Liquefied natural gas (LNG) trade increased 3.1% globally in 2023 to average 52.9 billion cubic feet per day (Bcf/d), an increase of 1.6 Bcf/d from 2022, according to a recently released report from the International Group of Liquefied Natural Gas Importers (GIIGNL). Expanded export and import capacity and increasing natural gas demand drove the growth […]
West Coast summer refinery margins decline despite reduced capacity
This spring, California refinery crack spreads for gasoline and diesel dipped below average despite shrinking refinery capacity on the West Coast (PADD 5). Crack spreads are the difference between refined product prices and an equivalent volume of crude oil. We use them as a measure to estimate refinery margins based on commodity market conditions. The […]
