Energy Update
(Fri, 21 Feb 2020) On February 5, 2020, the Independent System Operator for New England (ISO-NE) announced the results of its 14th annual Forward Capacity Market (FCM) auction. ISO-NE holds the auctions to ensure that the New England power system will have sufficient electricity supply resources to meet the future demand for electricity. In this most recent auction, ISO-NE secured electric generating capacity covering June 1, 2023, through May 31, 2024.
(Fri, 21 Feb 2020) On February 5, 2020, the Independent System Operator for New England (ISO-NE) announced the results of its 14th annual Forward Capacity Market (FCM) auction. ISO-NE holds the auctions to ensure that the New England power system will have sufficient electricity supply resources to meet the future demand for electricity. In this most recent auction, ISO-NE secured electric generating capacity covering June 1, 2023, through May 31, 2024.
(Thu, 20 Feb 2020) In the U.S. Energy Information Administrationâs (EIA) February <em>Energy Outlook</em> (STEO), EIA forecasts the Lower 48 working natural gas in storage (stocks) will end the 2019–20 heating season (November 1–March 31) at 1,935 billion cubic feet (Bcf), or 243 Bcf more than the five-year average.
(Thu, 30 Jan 2020) The U.S. Energy Information Administration (EIA) reported Lower 48 statesâ net withdrawals from storage of 201 billion cubic feet (Bcf) for the week ending January 24, 2020. This weekâs estimate is the largest net withdrawal from stocks thus far in the 2019–20 heating season (October 31–March 1) and the largest total net withdrawal from working gas since EIAâs February 1, 2019 report last winter.
(Wed, 29 Jan 2020) On Monday, February 3, 2020, the Independent System Operator for New England (ISO-NE) will open its annual Forward Capacity Market (FCM) auction. ISO-NE uses the FCM auctions to ensure that the New England power system will have sufficient resources to meet future demand for electricity. Owners of various resources compete in the annual auctions to obtain a Capacity Supply Obligation (CSO) in exchange for receiving a market-priced capacity payment.
(Wed, 29 Jan 2020) Estimated daily natural gas use for power generation has averaged about 28.4 billion cubic per day (Bcf/d) so far this winter (November 1, 2019âJanuary 29, 2020) and is up about 3 Bcf/d, or 12%, compared with the same period in 2018â19. Power burn, estimated based on S&P Global Platts data, reached 34 Bcf/d on January 20, 2020âthe second-highest natural gas use for power during a day in the winter.
(Fri, 24 Jan 2020) Halfway through the 2019â20 winter heat season, underground working natural gas stocks for the Lower 48 states totaled 2,947 billion cubic feet (Bcf) as of Friday, January 17, 2020. Cumulative net withdrawals from working gas totaled 782 Bcf as of January 17, which is the lowest cumulative total at this point in a heating season since 2011 and 29% less than the previous five-year average.
(Tue, 21 Jan 2020) The <em>Drilling Productivity Report</em> (DPR) uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil and natural gas wells to provide estimated changes in oil and natural gas production for seven key regions.
(Wed, 15 Jan 2020) Depending on the nature of oil and natural gas resources specific to particular regions, changes in future oil prices can produce very different results. Relatively higher oil prices push investment toward oil projects and away from natural gas projects, and relatively lower oil prices typically produce the opposite effect.
(Thu, 12 Dec 2019) In the <em>International Energy Outlook 2019</em>, India has the worldâs fastest-growing population and the fastest-growing gross domestic product (GDP), which means long-term energy consumption projections are uncertain because of the rapid change magnified by the size of the economy. This discussion explores two aspects of uncertainty about Indiaâs future energy consumption: assumptions about economic composition and industrial sector energy intensity.
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