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EIA expects significant increases in US wholesale electricity prices this summer

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The US Energy Information Administration (EIA) forecasts that prices in US wholesale electricity markets this summer will significantly increase over last summer’s prices. EIA forecasts summer electricity prices will average $98/MWh in California’s CAISO market and $90/MWh in the ERCOT market in Texas.

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BNEF: steel industry set to pivot to hydrogen in green push; additional $278B for clean capacity and retrofits

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Steel is responsible for around 7% of man-made greenhouse gas emissions every year and is one of the world’s most polluting industries. Government and corporate net-zero commitments are pushing the steel industry to cancel out its emissions by 2050. The steel industry cannot afford to wait for the 2040s to start its transition.

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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 A high level of uncertainty remains in our outlooks, but we have consistently forecast that elevated crude oil prices would help drive record-level annual US oil production levels in 2023. million barrels per day this year and 12.8

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GlobalData: Global coal production set to grow to 2022, despite major players scaling down capacities

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Although Germany, the UK, US, Canada and Ukraine are phasing out domestic coal production capacity, expansion of production capacity in countries such as India and Indonesia is predicted to generate modest annual growth of 1.3% in coal production over the next four years, with output reaching 7.6 to 7,188.8 to 7,194.1 Mt in 2018.

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BNEF, Snam, IGU report finds global gas industry set to resume growth post-pandemic; low-carbon technologies for long-term growth

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However, the resulting low gas prices, as well as clean air and climate policies, will promote further switching to gas from other more polluting energy sources, such as oil and coal. The pandemic has created disruption in the global energy sector, but low gas prices will ultimately stimulate demand growth as the economy recovers.

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Renewables to overtake coal as largest global electricity source in 2025

Teslarati

While more effort is needed to reach that goal, one energy organization has predicted that renewables will overtake coal generation as the world’s largest electricity source in early 2025. The post Renewables to overtake coal as largest global electricity source in 2025 appeared first on TESLARATI. What are your thoughts?

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Bloomberg NEF forecasts falling battery prices enabling surge in wind and solar to 50% of global generation by 2050

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The result will be renewables eating up more and more of the existing market for coal, gas and nuclear. The levelized cost of electricity (LCOE) from new PV plants is forecast to fall a further 71% by 2050, while that for onshore wind drops by a further 58%. Coal emerges as the biggest loser in the long run. NEO 2018 sees $11.5

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