In its January 2021 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that the annual natural gas spot price at the Henry Hub will rise 0.98¢ per million British thermal units (MMBtu) to average $3.01/MMBtu in 2021. EIA expects higher natural gas prices will prompt dry natural gas production to increase in […]
Category: Today in Energy
Nuclear and coal will account for majority of U.S. generating capacity retirements in 2021
According to the U.S. Energy Information Administration’s (EIA) latest inventory of electric generators, 9.1 gigawatts (GW) of electric generating capacity is scheduled to retire in 2021. Nuclear generating capacity will account for the largest share of total capacity retirements (56%), followed by coal (30%). […]
Renewables account for most new U.S. electricity generating capacity in 2021
According to the U.S. Energy Information Administration’s (EIA) latest inventory of electricity generators, developers, and power plant owners plan for 39.7 gigawatts (GW) of new electricity generating capacity to start commercial operation in 2021. Solar will account for the largest share of new capacity at 39%, followed by wind at 31%. About 3% of the […]
Wholesale U.S. electricity prices were generally lower and less volatile in 2020 than 2019
During 2020, wholesale electricity prices at major trading hubs in the United States were generally lower than in 2019, although prices in the western states trended higher in the last half of the year. Compared with 2019 prices, these wholesale hub prices in 2020 ranged from 5% lower in the California Independent System Operator (CAISO) […]
In 2020, U.S. natural gas prices were the lowest in decades
In 2020, natural gas spot prices at the national benchmark Henry Hub in Louisiana averaged $2.05 per million British thermal units (MMBtu), the lowest annual average price in decades. Prices started the year relatively low because mild winter weather led to less natural gas demand for space heating. Prices remained low as economic effects induced […]
U.S. average gasoline prices and vehicle travel fell to multiyear lows in 2020
U.S. regular retail gasoline prices averaged $2.17 per gallon (gal) in 2020, 44 cents/gal (17%) lower than in 2019 and the lowest annual average since 2016. Gasoline prices at the beginning of the year were more than $2.50/gal; however, responses to the COVID-19 pandemic resulted in widespread reductions in passenger travel and gasoline demand, contributing […]
Crude oil prices briefly traded below $0 in spring 2020 but have since been mostly flat
In the first half of 2020, responses to the COVID-19 pandemic led to steep declines in global petroleum demand and to volatile crude oil markets. The second half of the year was characterized by relatively stable prices as demand began to recover. As petroleum demand fell and U.S. crude oil inventories increased, West Texas Intermediate […]
EIA releases new U.S. Energy Atlas with updated maps and enhanced navigation
Today, the U.S. Energy Information Administration (EIA) released the U.S. Energy Atlas, a new interface for web map applications and a comprehensive open data catalogue. The U.S. Energy Atlas shows detailed energy infrastructure in redesigned maps with enhanced navigation and data accessibility features. With the U.S. Energy Atlas, users can now combine EIA’s data with […]
U.S. jet fuel consumption during the week of Thanksgiving was about half of last year’s
For the week of Thanksgiving 2020, estimated consumption of major transportation fuels (motor gasoline, distillate, and jet fuel) was 11% lower than during Thanksgiving week 2019. About half as much jet fuel was consumed during the week of Thanksgiving as last year, measured using product supplied as a proxy for consumption: 1.1 million barrels per […]
U.S. liquefied natural gas exports set a record in November
During the summer of 2020, monthly exports of liquefied natural gas (LNG) from the United States were the lowest in 26 months but have since increased, and in November, estimated LNG exports surpassed the previous record set in January 2020. In the December 2020 Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) estimated that […]
