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In the past 20 years, natural gas has displaced most coal-fired generation in Pennsylvania

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Natural gas-fired power plants generated 2% of the electricity produced in Pennsylvania in 2001. Over the next 20 years, natural gas-fired generation in the state increased rapidly, reaching 52% in 2021. Natural gas displaced most coal-fired generation, which fell from 57% of the electricity generated in Pennsylvania ...

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U.S. crude oil production will increase to new records in 2023 and 2024

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In our January 2023 Short-Term Energy Outlook, we forecast that crude oil production in the United States will average 12.4 million barrels per day (b/d) in 2023 and 12.8 million b/d in 2024, surpassing the previous record of 12.3 million b/d set in 2019. In 2022, U.S. crude oil production averaged an estimated 11.9 ...

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Nuclear power plants generated 68% of France’s electricity in 2021

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France has one of the largest nuclear power programs in the world. Nuclear power plants in France generated 361 billion kilowatthours of electricity in 2021, accounting for 68% of the country's annual electricity generation, the highest nuclear generation share in the world.

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Daily natural gas spot prices in western United States exceed $50.00/MMBtu in December

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On December 21, 2022, daily natural gas spot prices at three major trading hubs in the western United States (Pacific Gas & Electric Citygate, Northwest Sumas on the Canada-Washington border, and Malin, Oregon) were higher than $50.00 per million British thermal units (MMBtu). These hub prices were higher than in ...

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Increasing renewables likely to reduce coal and natural gas generation over next two years

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In our latest Short-Term Energy Outlook, we expect that increased U.S. power generation from new renewables capacity—mostly wind and solar—will reduce generation from both coal-fired and natural gas-fired power plants in 2023 and 2024.

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EIA forecasts lower wholesale U.S. natural gas prices in 2023 and 2024

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In our January Short-Term Energy Outlook (STEO), we forecast the natural gas spot price at the U.S. benchmark Henry Hub will average $4.90 per million British thermal units (MMBtu) in 2023, more than $1.50/MMBtu lower than the 2022 average. We expect prices to stay nearly the same in 2024 as dry natural gas production ...

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U.S. commercial buildings consumed more fuel for space heating than anything else in 2018

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In 2018, nearly one-third (32%) of the energy consumed by commercial buildings in the United States was used for space heating, the largest end-use category tracked in our latest Commercial Buildings Energy Consumption Survey (CBECS).

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EIA expects U.S. gasoline and diesel retail prices to decline in 2023 and 2024

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We forecast retail gasoline and diesel prices will decline in 2023 and 2024, according to our latest Short-Term Energy Outlook (STEO), after reaching multiyear highs in the first half of 2022. We forecast that retail prices for regular-grade gasoline will average $3.32 per gallon (gal) in 2023 and continue to decrease ...

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Crude oil prices forecast to decline beginning in the second half of 2023

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In our January 2023 Short-Term Energy Outlook, we forecast the Brent crude oil price (the global benchmark) will rise from an average $81 per barrel (b) in December 2022 to average $83/b in the first quarter of 2023 (1Q23). We expect this forecast increase to follow the upcoming EU ban on seaborne imports of petroleum ...

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Wholesale U.S. electricity prices were volatile in 2022

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Average wholesale electricity prices at major trading hubs in the United States rose throughout much of 2022 and were, at times, volatile as a result of extreme weather events. The limited availability of coal to substitute for higher-priced natural gas also contributed to higher electricity prices.

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Average 2022 wholesale U.S. natural gas cost more than any time since 2008

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In 2022, the wholesale U.S. natural gas spot price at the national benchmark Henry Hub in Louisiana averaged $6.45 per million British thermal units (MMBtu), the highest annual average—in both real and nominal terms—since 2008, based on data from Refinitiv Eikon. The 2022 average Henry Hub real natural gas spot price ...

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U.S. retail gasoline prices rose in summer but ended 2022 lower than start of 2022

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Rising crude oil prices and increased gasoline demand early in 2022 contributed to rising U.S. retail gasoline prices in the summer, but gasoline prices ended 2022 lower than at the start of the year because of more refinery production and less demand during the second half of the year.

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