The U.S. Energy Information Administration (EIA) projects retail gasoline and diesel prices to decrease in 2023 and 2024, following record highs during the first six months of 2022. The expected price decline can be attributed to projections of lower demand expansion for diesel and motor gasoline, due to high production costs and high inflation. The…...
The U.S. trading hubs’ average wholesale electricity prices increased in 2022 compared with 2021 on account of extreme weather conditions and the limited supply of coal to replace higher-priced natural gas, according to a Jan. 10 report from the U.S. Energy Information Administration. Extreme weather and manpower shortages in the railroad and coal mine industries…...
The New York State Office of Renewable Energy issued siting permits for three solar projects that have a combined capacity of 309 megawatts. These projects are expected to spur more than $458 million in capital investment and create more than 460 jobs in development, construction, as well as operations and maintenance. Once operational, these projects,…...
The U.S. Environmental Protection Agency on Jan. 4 announced the first of its kind Smart Home Energy Management System, or SHEMS, which will assist homeowners in obtaining ENERGY STAR certification and creating a one-of-a-kind smart home. SHEMS refers to a package of smart home products that are connected to a central service and enables end…...
The energy component of the S&P Goldman Sachs Commodity Index, or GSCI, increased 10 percent at the end of 2022 compared to the first trading day of that year, according to a Jan. 3 report from the U.S. Energy Information Administration. The increase in the index can be largely attributed to the Russian invasion of…...
The North Carolina Utilities Commission on Dec. 30 issued an order adopting an initial Carbon Plan creating a least cost future pathway to meet the carbon dioxide emissions reduction obligations of the state. Legislation enacted in October 2021 mandates a 70 percent reduction in emissions from electricity generating assets in North Carolina owned or utilized…...
The U.S. Environmental Protection Agency on Dec. 20 finalized national clean air standards to cut smog- and soot-forming emissions from heavy-duty trucks beginning with model year 2027, the first update in more than 20 years and more than 80 percent stronger than current standards. The move is a step towards the implementation of the historic…...
The U.S. Energy Department on Dec 19 released a notice of intent to offer $45 million for states and local governments to advance the application of the latest building energy standards to aid in the development of buildings and cut down energy bills for residential and commercial consumers. The Building Energy Codes: Resilient and Efficient…...
The U.S. Department of Energy Office of Petroleum Reserves announced on Dec. 16 that it will begin repurchasing crude oil for Strategic Petroleum Reserves, or SPR, by buying oil at a lower price than the $96 per barrel average it was sold for. This will be the first fixed price replenishment, in order to secure…...
The California Independent System Operator Board and the Western Energy Imbalance Market Governing Body have approved both the Energy Storage Enhancements and Resource Sufficiency Energy Enhancements initiatives, according to a Dec. 16 news release. The initiatives are expected to be adopted by the upcoming summer when extreme temperatures create high demand during peak hours. The…...
The Federal Energy Regulatory Commission (FERC) staff on Dec. 16 issued its seventeenth annual report on demand response and advanced metering. From 2020 to 2021, demand resource totals in the wholesale markets rose by about 1,833 megawatts representing a 6 percent annual increase. The estimated advanced meter penetration rates nationwide for each of the residential,…...
The growth in utility-scale power generation from renewable energy sources, the rapidly-growing electricity production sources, increased from 21 percent in 2021 to 24 percent in 2022 during the first half of 2022, according to the U.S. Energy Information Administration. Among these, hydropower, wind, and solar are the major energy sources contributing to renewable electricity generation…...