Energy Update
(Thu, 25 Jun 2020) Nigeria is the largest crude oil producer in Africa and holds the largest natural gas reserves on the African continent. Hydrocarbon production is an important revenue stream for the government, but commodity price swings and sporadic supply disruptions to production are significant risk factors for the government and the economy.
(Thu, 18 Jun 2020) <p style='color: #666;'>New monthly data are available for</p>
<ul style='color: #666;'>
<li>Electricity</li>
<li>Petroleum</li>
<li>Natural gas</li>
<li>Coal</li>
</ul>
<p style='color: #666;'>New annual data are available for</p>
<ul style='color: #666;'>
(Wed, 10 Jun 2020) The average spot (wholesale) price of electricity in New England for winter 2019â20 (November 1, 2019âMarch 31, 2020) was about $28 per megawatthour (MWh), down about 40% from the average price of electricity of $47/MWh for the winter of 2018â19. This price reduction was calculated using Internal Hub prices generated by the Independent System Operator of New England (ISO-NE)âa proxy for the average system prices for wholesale electricity in New England.
(Wed, 10 Jun 2020) The 2020 natural gas storage refill season (April 1âOctober 31) has started out strong, lagging behind only 2019 and 2015 for total net injections for the Lower 48 states through May. Net injections into working natural gas totaled 102 billion cubic feet (Bcf) for the week ending May 29, 2020.
(Wed, 03 Jun 2020) The U.S. Energy Information Administrationâs (EIA) two metrics for assessing 2019 underground working natural gas storage capacity in the Lower 48 states compared with the previous year show mixed results: one metric reported a small increase and the other a small decrease. EIA measures working natural gas storage capacity in two ways: design capacity and demonstrated peak capacity.
(Thu, 21 May 2020) The average spot (wholesale) price of natural gas in New England for winter 2019â20 (November 1, 2019âMarch 31, 2020) was $3.17 per million British thermal units (MMBtu), down about 40% from $5.40/MMBtu for the winter of 2018â19 based on trends at the Algonquin Gas Transmission (Algonquin) Citygateâa key regional benchmark for natural gas prices in New England.
(Thu, 07 May 2020) In EIA's Weekly Natural Gas Storage Report (WNGSR) published on May 7, 2020, EIA reported a net injection for the Lower 48 states of 109 billion cubic feet (Bcf)âthe biggest net injection since September 27, 2019. The net injection was 35 Bcf more than the typical injection for this particular week, on average, for the past five years (2015-2019). The overall surplus of working natural gas inventory compared with the five-year average is now 395 Bcf.
(Wed, 06 May 2020) The United Arab Emirates, a member of OPEC, is currently the seventh-largest petroleum and other liquids producer in the world. Relatively energy intensive compared with other industrialized countries, the United Arab Emiratesâ economy is fueled largely by natural gas and petroleum and other liquids.
(Tue, 05 May 2020) Distributed generation refers to onsite, behind-the-meter generation of energy. This often includes electricity from renewable energy systems such as solar photovoltaics and small wind turbines, but it can also include electricity and captured waste heat from combined heat and power (CHP) systems in the buildings and industrial sectors. EIA works with technology experts to project distributed generation and CHP equipment cost and performance characteristics.
(Mon, 04 May 2020) Energy efficiency (EE) incentives offered by electric and natural gas utilities and state EE organizations are an important component of evolving state and local EE policies.
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