Author: US Energy Information Administration

Washington State’s Emissions Allowance Program’s 1st Auctions

Washington State wrapped up its first full year of auctions for tradable emission allowances in December, as the state considers joining an integrated regional greenhouse gas reduction program with California and Québec. In 2021, the Washington state legislature set up a cap-and-invest program that creates tradable emission allowances as a measure to … [continued]

Henry Hub Daily Natural Gas Spot Price Fell to Record Lows in February

The U.S. benchmark Henry Hub daily natural gas price averaged $1.50 per million British thermal units (MMBtu) on February 20, 2024, the lowest price in inflation-adjusted dollars since at least 1997, according to data from Refinitiv Eikon. High natural gas production, low natural gas consumption, and higher natural gas inventories than the … [continued]

Retirements of U.S. Electric Generating Capacity to Slow in 2024

Operators plan to retire 5.2 gigawatts (GW) of U.S. electric generating capacity in 2024, a 62% decrease from last year when 13.5 GW was retired and the least in any year since 2008, according to our latest Preliminary Monthly Electric Generator Inventory. Coal and natural gas jointly account for 91% of the planned capacity retirements in the United States this year.

Solar & Battery Storage to Make Up 81% of New U.S. Electric-Generating Capacity in 2024

Developers and power plant owners plan to add 62.8 gigawatts (GW) of new utility-scale electric-generating capacity in 2024, according to our latest Preliminary Monthly Electric Generator Inventory. This addition would be 55% more added capacity than the 40.4 GW added in 2023 (the most since 2003) and points to a continued … [continued]

Data source: S&P Global Commodity Insights

U.S. Natural Gas Consumption Established A New Daily Record in January 2024

On January 16, 2024, a record high of 141.5 billion cubic feet (Bcf) of natural gas was consumed in the U.S. Lower 48 states (L48), exceeding the previous record set on December 23, 2022, according to estimates from S&P Global Commodity Insights. Well-below-normal temperatures caused by a large mass of arctic … [continued]