{"id":6622,"date":"2023-04-11T18:17:51","date_gmt":"2023-04-11T18:17:51","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/u-s-power-demand-seen\/"},"modified":"2023-04-11T18:22:49","modified_gmt":"2023-04-11T18:22:49","slug":"u-s-power-demand-seen","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/u-s-power-demand-seen\/","title":{"rendered":"U.S. power demand seen sliding 1% in 2023 on milder weather"},"content":{"rendered":"<p>(Reuters) &#8211;     U.S. power consumption is expected to slip about 1% in 2023 from the previous year as milder weather slows usage from the record high hit in 2022, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday.<\/p>\n<p>EIA projected that electricity demand is on track to slide to 4,000 billion kilowatt-hours (kWh) in 2023 from a historic high of 4,048 billion kilowatt-hours (kWh) in 2022, before rising to 4,062 billion kWh in 2024 as economic growth ramps up.<\/p>\n<p>Less demand coupled with more electricity generation from cheap renewable power sources and lower natural gas prices is forecast to slash wholesale power prices this year, the EIA said.<\/p>\n<p>The on-peak wholesale price at the North hub in Texas\u2019 ERCOT power market is expected to average about $35 per megawatt-hour (MWh) in 2023 compared with an average of nearly $80\/MWh in 2022.<\/p>\n<p>As capacity for renewables like solar and wind ramp up and as natural gas prices ease, the EIA said it expects coal-fired power generation to be 17% less in the spring of 2023 than in the spring of 2022.<\/p>\n<p>Coal will provide an average of 17% of total U.S. generation this year, down from 20% last year, the EIA said.<\/p>\n<p>The share of total generation supplied by natural gas is seen remaining at about the same this year at 39%. The nuclear share of generation is seen rising slightly to 20% this year from 19% in 2022. Generation from renewable energy sources grows the most in the forecast, increasing to 24% this year from a share of 22% last year.<\/p>\n<p \/>\n<p> (Reporting by Laila Kearney in New York; Editing by Jonathan Oatis and Mark Porter)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/u-s-power-demand-seen\/a-wind-farm-shares-space-with-corn-fields-the-day\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportDomesticNews\/tagreuters.com2023binary_LYNXMPEJ3A0OU-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3A0OU-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; U.S. power consumption is expected to slip about 1% in 2023 from the previous year as milder weather slows usage from the record high hit in 2022, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday. EIA projected that electricity demand is on track to slide to [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":6623,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1214],"tags":[],"class_list":["post-6622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-domestic"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportDomesticNews\/tagreuters.com2023binary_LYNXMPEJ3A0OU-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/6622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=6622"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/6622\/revisions"}],"predecessor-version":[{"id":6624,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/6622\/revisions\/6624"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/6623"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=6622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=6622"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=6622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}