ElA Cuts Oil Price Estimates, Raises U.S. Natural Gas Price Forecast

June 12, 2024

The U.S. Energy Information Administration lowered its 2024 estimates for benchmark crude prices by around 4%, citing recent price declines, while raising its estimates for U.S. natural gas prices. In its monthly Short Term Energy Outlook, the ElA said Tuesday it expects spot Brent to average $84.15 a barrel in 2024, down from its previous […]

The total eclipse shows us how important solar energy is to the US

April 10, 2024

You don’t know what you’ve got until it’s gone, and the total eclipse is a stark reminder of that adage when it comes to the key role solar energy currently plays in the US. More than 31 million people — nearly 10 percent of the population in the US — live in an area that will experience […]

Republicans make Texas pitch for scrapping Biden LNG pause

House Energy and Commerce Republicans traveled to Texas on Monday to make the local argument for the immediate cancellation of Biden administration’s pause on new gas export terminals. The Energy, Climate and Grid Security Subcommittee field hearing in Port Arthur came as House Speaker Mike Johnson (R-La.) prepares to release a Ukraine aid package that […]

New England’s Forward Capacity Auction closes with adequate power system resources for 2027/2028

New England’s annual capacity auction closed with sufficient power system resources to meet forecast peak demand in 2027/2028. Nearly all of the new resources securing capacity supply obligations were energy storage, solar, wind, or demand-reducing resources. ISO New England Inc. runs the auction each year to procure the resources needed to meet consumer demand for […]

Prime Time

March 12, 2024

Pro-nuclear advocates welcomed a historic announcement last week when Amazon Web Services (AWS), the world’s largest operator of data centers, made a decisive move that all but validated the inevitable: “One of the US’s largest nuclear power plants will directly power cloud service provider Amazon Web Services’ new data center. Power provider Talen Energy sold […]

Natural gas prices soar 11%, bouncing after Chesapeake cuts production outlook

February 21, 2024

Natural gas futures jumped sharply Wednesday, bouncing after ending the previous session at the lowest in more than 3½ years after Chesapeake Energy, a major shale producer, cut its production outlook. Meanwhile, crude oil futures ticked slightly higher in rangebound trading as investors monitored developments in the Middle East and weighed the outlook for global […]

Eversource Energy posts quarterly loss, to sell stake in two wind projects

Eversource Energy on Tuesday, February 13th, reported a loss in the fourth quarter, as the utility recorded after-tax impairment charges of about $1.62 billion related to its offshore wind projects. Eversource plans to sell its stake in two offshore wind projects – South Fork Wind and Revolution Wind to Global Infrastructure Partners – for $1.1 […]

ISO New England proposes capacity market changes, further 2-year delay for upcoming auction

February 15, 2024

The Federal Energy Regulatory Commission in January approved a 1-year delay to New England ISO’s Forward Capacity Auction 19. Now, the grid operator has asked for a further 2-year delay to develop a new approach to procuring resource commitments. ISO New England on Thursday, February 8th, said it wants to shift from its annual Forward […]

Biden Administration delaying thought of new natural gas export terminals in U.S.

January 30, 2024

The Biden administration said Friday it is delaying consideration of new natural gas export terminals in the United States, even as gas shipments to Europe and Asia have soared since Russia’s invasion of Ukraine. The decision by President Joe Biden, announced as the 2024 presidential election year kicks off, aligns the Democratic president with environmentalists […]