U.S. natural gas usage for power generation during summer 2024 is forecast to reach close to the record volume consumed last year, according to a May 30 report published by the U.S. Energy Information Administration. The agency projects that U.S. natural gas usage for power generation will average 44.7 billion cubic feet per day (bcfd)…...
The Biden administration has launched a new initiative to address the challenges and opportunities faced by the power grid in the 21st century. The initiative, Federal-State Modern Grid Deployment Initiative, is a collaboration with 21 states, federal agencies, and stakeholders to facilitate quick and cost-effective adaptation of the power grid. Participating states will strive to…...
The Biden administration on May 28 announced a policy statement and new principles to develop high-integrity voluntary carbon markets, or VCMs, that can unlock private capital to drive decarbonization efforts. The move is intended to support the responsible development of VCMs with “guardrails in place,” so that the market is equipped to spur credible climate…...
U.S. biodiesel imports increased twofold during 2023 compared to 2022 and were recorded at 33,000 barrels per day (b/d), according to a May 28 report published by the U.S. Energy Information Administration. Moreover, U.S. biodiesel imports continued to increase in the first two months of 2024. Majority of the biodiesel imports come from Germany, whereas…...
Regulators and lawmakers across the U.S. are increasingly exploring the possibilities of deploying virtual power plants (VPPs) as a cost-effective means to provide grid services. VPPs have garnered attention as…Read the full report …...
The Federal Energy Regulatory Commission has released its annual summer market and reliability report, providing an outlook for energy markets and electric reliability for the period of June-September 2024. The report forecasts warmer-than-average summer temperatures that increase electricity demand and adequate generating availability, although extreme conditions could challenge specific regions. Data center consumption has been…...
Regulators and lawmakers across the U.S. are increasingly exploring the possibilities of deploying virtual power plants (VPPs) as a cost-effective means to provide grid services. VPPs have garnered attention as fossil fuel-fired power plants retire and renewable energy resources continue to grow amid increasing electricity demand.
The U.S. Energy Department’s Office of Petroleum Reserves has announced plans to release one million gas barrels from the Northeast Gasoline Supply Reserve to help lower prices during summer. The department said the initiative is strategically timed to ensure sufficient supply for the tri-state and northeast regions during a period of high demand – between…...
The retail price of regular U.S. gasoline averaged $3.58 per gallon(gal) as of the Monday before Memorial Day, according to a May 23 report published by the U.S. Energy Information Administration. The retail price of U.S. gasoline is one percent higher compared to the same period last year. The price increase can be attributed to…...
Meteorologists are predicting a stronger hurricane season this year, which elevates risk for weather associated production disruptions in the U.S. natural gas and oil sectors, according to a May 22 report published by the U.S. Energy Information Administration. Reports from AccuWeather are forecasting around 20 to 25 storms this year, with a likelihood of around…...