U.S. energy consumption declined one percent year-on-year during 2023 to 94 quadrillion British thermal units (quads), according to a July 3 report published by the U.S. Energy Information Administration. Fossil fuels, which consist of coal, natural gas and petroleum accounted for around 83 percent of total U.S. energy consumption. Non fossil fuels, which consist of…...
Average weekly U.S. gasoline prices have lost 19 cents per gallon (gal) in value since the 2024 high recorded on April 22 to $3.48/gal on July 1, according to a July 2 report published by the U.S. Energy Information Administration. The price decline can be attributed to rising gasoline stocks, relatively subdued demand and comparatively…...
The Bureau of Ocean Energy Management on July 1 issued its final approval for the construction and operation of Avangrid’s New England Wind 1 and 2 projects. The two projects would have a total capacity of 2.6 gigawatts (GW) and have the potential to power over 900,000 households every year. The approval follows the bureau’s…...
Electricity demand increased in the eastern and midwestern region of the U.S due to a heatwave, according to a July 1 report published by the U.S. Energy Information Administration. Demand across the Eastern interconnection hit a high of 502,670 megawatts (MW) during a single hour on June 21, in comparison to an hourly June peak…...
Growth in commercial electricity demand during 2023 was more evident in states going through speedy development of large-scale computing facilities such as data centers, according to a June 28 report published by the U.S. Energy Information Administration. Electricity consumption across the U.S. commercial sector has improved since the COVID 19 pandemic, with yearly U.S. electricity…...
The Department of Energy awarded $63 million to support the commercialization of four transformative energy technologies. The funding is through the Seeding Critical Advances for Leading Energy technologies with Untapped Potential, also known as SCALEUP. This marks the third cohort of projects selected under the program. The SCALEUP initiative provides new funding to previous Advanced…...
U.S. energy production rose 4 percent to a record high of around 103 quadrillion British thermal units (quads) during 2023, according to a June 26 report published by the U.S. Energy Information Administration. Moreover, U.S. energy consumption declined by 1 percent to 94 quads during 2023. Production surpassed consumption during 2023 by a record 9…...
Electric utilities are increasingly using batteries to move electricity from periods of low prices to periods of high prices, a strategy known as arbitrage, according to a June 25 report published by the U.S. Energy Information Administration. Utilities state that arbitrage is the most common use case of battery storage with 10,487 MW of battery…...
The New York State Public Service Commission has approved a $64.59 million settlement agreement resolving an ongoing investigation into Central Hudson Gas & Electric Corporation’s billing system failures. This settlement could increase by another $2 million if the company fails to implement monthly meter readings on time. A more detailed breakdown of the settlement revealed…...
Constellation Energy has shut down its Mystic Generating Station, a natural gas-fired power plant located in Massachusetts. Mystic is one of the nation’s oldest power plants that has supplied electricity to the Boston area since the 1940s, according to a June 24 report from the U.S. Energy Information Administration. The company retired the Mystic plant…...
New York Governor Kathy Hochul has launched the eighth annual round of solicitation for large-scale renewable energy projects in the state. Expanding on New York’s 10-Point Action Plan, the new projects will advance the state’s goal of generating 70 percent of its electricity from renewables by 2030. The solicitations will be managed by the New…...
The U.S. Senate last week approved President Biden’s three nominees to serve on the Federal Energy Regulatory Commission (FERC) bringing the agency to its full complement of five commissioners. Industry and clean energy groups welcomed the move saying that a fully staffed commission is crucial to address challenges posed by an aging electric grid, the…...