According to our Short-Term Energy Outlook (STEO), U.S. electricity generation from natural gas reached a record-high 619 billion kilowatthours (BkWh) during the most recent winter heating season (November 1–March 31), averaging more than 120 BkWh per month and accounting for 38% of the country’s electricity generation mix. Electricity generation from natural gas increased in the […]
Category: Today in Energy
Monthly U.S. propane exports in March 2023 reach a record high
U.S. propane exports reached a record 1.7 million barrels per day (b/d) in March 2023, the highest level since we began collecting this data in 1973. Propane is consumed globally for space heating and is used as a petrochemical feedstock. […]
The largest coal-fired power plant in Pennsylvania will close by July 2023
After 54 years of providing power to Pennsylvania and New York, the Homer City Generating Station in Pennsylvania will close by July 2023, according to the plant’s owner. The 1,888 megawatt coal plant began generating electricity in 1969, when Units 1 and 2 entered service. Unit 3 was added in 1977. […]
China’s natural gas consumption and LNG imports declined in 2022, amid zero-COVID policies
In 2022, annual natural gas consumption in China declined by 1%, or 0.4 billion cubic feet per day (Bcf/d), from 2021, according to data from S&P Global Commodity Insights—the first decline in annual consumption since 1990, according to our International Energy Statistics. Slower economic growth, mainly resulting from widespread lockdowns associated with China’s zero-COVID policies, […]
U.S. residential electricity bills increased 5% in 2022, after adjusting for inflation
In nominal terms, the average monthly electricity bill for residential customers in the United States increased 13% from 2021 to 2022, rising from $121 a month to $137 a month. After adjusting for inflation–which reached 8% in 2022, a 40-year high–electricity bills increased 5%. Last year had the largest annual increase in average residential electricity […]
U.S. energy insecure households were billed more for energy than other households
On average, households in the United States were billed $1.04 per square foot for energy usage across all energy sources in 2020. Those households identifying as energy insecure were billed $0.20 more per square foot than the national average and $0.26 more on average than households that did not experience energy insecurity. Household energy insecurity […]
U.S. gasoline prices are down from 2022 heading into Memorial Day weekend
The retail price for regular-grade gasoline in the United States on May 22, the Monday before Memorial Day weekend, averaged $3.53 per gallon (gal), 26% (or $1.24/gal) lower than the inflation-adjusted price a year ago. Memorial Day gasoline prices last year were the highest since 2012. The American Automobile Association (AAA) expects 6% more miles […]
EIA explores effects of liquefied natural gas exports on the U.S. natural gas market
In our Issues in Focus: Effects of Liquefied Natural Gas Exports on the U.S. Natural Gas Market supplement to our Annual Energy Outlook 2023 (AEO2023), we find that the volumes of liquefied natural gas exports (LNG) do affect average U.S. natural gas prices. However, the resulting range in natural gas prices in our new cases […]
In 2021, Algeria produced record amounts of natural gas
In 2021, more natural gas was produced in Algeria than in any year since record-keeping began in 1980, according to the data in our recently updated Country Analysis Brief: Algeria. Algeria produced 9.9 billion cubic feet per day (Bcf/d) of dry natural gas in 2021, a 23.4% increase from the 8.0 Bcf/d the country produced […]
EIA expects lower crude oil prices for the second half of 2023 and for 2024
We lowered our crude oil price forecast for the rest of 2023 and for 2024 in our May Short-Term Energy Outlook (STEO) because of relatively rapid declines in the crude oil price since April. Between April 12, 2023, and May 4, 2023, the Brent crude oil price fell $16 per barrel (b) to $73/b; the […]
