Increases in U.S. residential electricity bills in 2023 were outpaced by inflation
In 2023, U.S. residential electricity bills increased by 2% each month compared with 2022. That growth rate was slower than inflation, which was 4.1% in 2023. Over the past decade, residential electricity prices have increased more slowly than overall inflation.
U.S. hydropower generation expected to increase by 6% in 2024 following last year’s lows
Last year, U.S. hydropower electricity generation fell to its lowest since 2001. This year, we expect hydropower to increase 6% and account for 250 billion kilowatthours of electricity generation in the power sector, based on forecasts in our Short-Term Energy Outlook (STEO). We expect hydropower to increase in nearly every part of the country, with […]
U.S. natural gas trade will continue to grow with the startup of new LNG export projects
In our recently released Short-Term Energy Outlook (STEO), we forecast that U.S. liquefied natural gas (LNG) exports will continue to lead growth in U.S. natural gas trade as three LNG export projects currently under construction start operations and ramp up to full production by the end of 2025. We also forecast increased natural gas exports […]
Mild winter weather may lead to persistently high natural gas inventories through 2025
U.S. working natural gas inventories ended the winter heating season (November 1b—March 31) at 2,290 billion cubic feet (Bcf), 39% more than the previous five-year (2019b—23) average. Relatively high natural gas inventories all winter have contributed to record-low Henry Hub natural gas spot prices. The surplus to the five-year average grew over winter 2023—24 because […]
China imported record amounts of crude oil in 2023
China, the world’s largest importer of crude oil, imported 11.3 million barrels per day (b/d) of crude oil in 2023, 10% more than in 2022, according to China customs data. Refiners in China imported record volumes of crude oil in 2023 to supply the country’s increasing refining capacity in order to support the country’s transportation […]
The United States exported a record volume of natural gas in 2023
The United States exported 10% more natural gas in 2023 than in 2022, a record of 20.9 billion cubic feet per day (Bcf/d), according to our Natural Gas Monthly. U.S. liquefied natural gas (LNG) exports accounted for more than half of all U.S. natural gas exports, and natural gas exports by pipeline to Canada and […]
Natural gas filled in most of the drop in solar generation in Texas during April 8 eclipse
On April 8, 2024, a total solar eclipse briefly but fully obscured sunlight to utility-scale solar electric generation facilities along the eclipse’s path, from Texas through Maine. Texas was especially affected because of how much solar capacity was in the path of totality.
Introducing the Wholesale Electricity Market Portal
Yesterday, we publicly released the new Wholesale Electricity Market Portal to help users examine and access electricity markets data in the seven Regional Transmission Organizations and Independent System Operators.
How accurate were EIA’s Winter Fuels Outlook forecasts?
Every October, in our Winter Fuels Outlook, we publish forecasts for residential energy consumption, prices, and expenditures for the upcoming winter months. Generally, these forecasts have performed well. Our October forecasts for energy expenditures during the five-month period from November 2023 through March 2024 were within 3% of our final estimates for homes primarily heated […]
Solar capacity additions are changing the shape of daily electricity supply in Texas
The maximum hourly average solar generation during the winter of 2022–23 was 2.1 gigawatthours (GWh) and increased to 3.8 GWh in the winter of 2023–24. The maximum hourly average wind generation slightly increased during the same period from 15.1 GWh to 15.7 GWh. The maximum hourly average for all other fuels was 78.0 GWh in […]