Onyx Power and Gas Consulting continues with its weekly series providing the Short-Term Energy Outlook as of September 10, 2019. This series of news articles should provide a complete insight on the current conditions of the energy…enjoy, check out archives and come back each week for additional information on how all sorts of energy sources impact our daily lives.
- EIA expects the share of U.S. total utility-scale electricity generation from natural gas-fired power plants will rise from 34% in 2018 to 37% in 2019 and 38% in 2020. EIA forecasts that the share of U.S. generation from coal will average 25% in 2019 and 22% in 2020, down from 28% in 2018. EIA’s forecast nuclear share of U.S. generation remains at about 20% in 2019 and in 2020. Hydropower averages a 7% share of total U.S. generation in the forecast for 2019 and 2020, similar to 2018. Wind, solar, and other nonhydropower renewables together provided 10% of U.S. total utility-scale generation in 2018. EIA expects they will provide 10% in 2019 and 12% in 2020.
- EIA forecasts generally lower wholesale electricity prices in 2019 compared with 2018. The lower forecast prices reflect lower natural gas fuel costs. In the first half of 2019, the average U.S. cost of natural gas delivered to power generators was 9% lower than the same period in 2018. EIA expects the delivered cost of natural gas during the second half of 2019 to be 31% lower than last year. Forecast electricity prices in the southeast are less than 1% lower than 2018, while prices in New England are 28% lower.
- EIA forecasts that utility-scale renewable fuels, including wind, solar, and hydropower, will collectively produce 18% of U.S. electricity in 2019 and 19% in 2020. EIA expects that annual generation from wind will surpass hydropower generation for the first time in 2019 to become the leading source of renewable electricity generation and that it will maintain that position in 2020.
- EIA expects electric power sector generation from renewables other than hydropower—principally wind and solar—to grow from 409 billion kilowatthours (kWh) in 2019 to 467 billion kWh in 2020. In EIA’s forecast, Texas accounts for 19% of the U.S. nonhydro renewables generation in 2019 and 21% in 2020. California has a share of 15% in 2019 and 14% in 2020. Regionally, the Midwest and Central power regions each have shares in the 16% to 17% range of the U.S. generation total from renewables other than hydropower.
The professional consultants at Onyx Power & Gas Consulting are always ahead of the current issues that may affect energy consumption and pricing. Now is the time to partner with an Onyx professional consultant to discuss energy management and secure energy prices based on today’s stable pricing. Volatility in the energy markets makes it too precarious to take chances. Partner with Onyx Power & Gas in Making Energy Make a Difference!