Commodities and Futures News

U.S. power use to rise in 2022 as economy continues to grow -EIA

2022.04.12 20:46

U.S. power use to rise in 2022 as economy continues to grow -EIA
FILE PHOTO: A wind farm shares space with corn fields the day before the Iowa caucuses, where agriculture and clean energy are key issues, in Latimer, Iowa, U.S. February 2, 2020. REUTERS/Jonathan Ernst

(Reuters) – U.S. power consumption will rise in 2022 and 2023 as the economy grows, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday.

The EIA projected power demand will climb to 3,995 billion kilowatt-hours (kWh) in 2022 and 4,040 billion kWh in 2023 from 3,930 billion kWh in 2021.

That compares with a coronavirus-depressed eight-year low of 3,856 billion kWh in 2020 and an all-time high of 4,003 billion kWh in 2018.

EIA projected 2022 power sales would ease to 1,468 billion kWh for residential consumers, but rise to 1,358 billion kWh for commercial customers as more people return to work in offices and 1,022 billion kWh for industrials.

That compares with current all-time highs of 1,477 billion kWh in 2021 for residential consumers, 1,382 billion kWh in 2018 for commercial customers and 1,064 billion kWh in 2000 for industrials.

EIA said natural gas‘ share of power generation will slide from 37% in 2021 to 35% in 2022 and 2023 as gas prices rise. Coal’s share, meanwhile, will hold at 23% in 2022, the same as 2021, before sliding to 21% in 2023 as renewable output rises.

The percentage of renewable generation will rise from 20% in 2021 to 22% in 2022 and 23% in 2023. Nuclear power will hold at 20% in 2022 and 2023, the same as 2021.

The agency projected 2022 natural gas sales would rise to 13.55 billion cubic feet per day (bcfd) for residential consumers, 9.35 bcfd for commercial customers and 23.16 bcfd for industrials, but fall to 29.89 bcfd for power generation.

That compares with all-time highs of 14.32 bcfd in 1996 for residential consumers, 9.63 bcfd in 2019 for commercial customers, 23.80 bcfd in 1973 for industrials and 31.75 bcfd in2020 for power generation.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 76,147.40 2.03%
vested-xor
Vested XOR (VXOR) $ 3,405.08 99,999.99%
ethereum
Ethereum (ETH) $ 2,852.74 7.32%
tether
Tether (USDT) $ 1.00 0.08%
solana
Solana (SOL) $ 194.20 4.33%
bnb
BNB (BNB) $ 600.27 2.54%
usd-coin
USDC (USDC) $ 1.00 0.06%
xrp
XRP (XRP) $ 0.55293 3.61%
dogecoin
Dogecoin (DOGE) $ 0.194245 0.81%
staked-ether
Lido Staked Ether (STETH) $ 2,848.49 7.28%
cardano
Cardano (ADA) $ 0.39262 10.58%
tron
TRON (TRX) $ 0.160537 2.10%
the-open-network
Toncoin (TON) $ 4.92 4.20%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,376.56 7.37%
avalanche-2
Avalanche (AVAX) $ 27.61 4.61%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 2.06%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 75,930.34 1.90%
weth
WETH (WETH) $ 2,847.53 7.22%
chainlink
Chainlink (LINK) $ 12.51 5.36%
bitcoin-cash
Bitcoin Cash (BCH) $ 383.82 3.24%
sui
Sui (SUI) $ 2.32 2.25%
polkadot
Polkadot (DOT) $ 4.15 2.00%
leo-token
LEO Token (LEO) $ 6.24 0.19%
usds
USDS (USDS) $ 1.01 0.05%
uniswap
Uniswap (UNI) $ 9.15 1.24%
litecoin
Litecoin (LTC) $ 72.15 3.91%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,999.89 7.26%
near
NEAR Protocol (NEAR) $ 4.23 2.84%
aptos
Aptos (APT) $ 9.75 4.59%
pepe
Pepe (PEPE) $ 0.00001 11.44%
bittensor
Bittensor (TAO) $ 519.54 0.09%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.43 1.71%
internet-computer
Internet Computer (ICP) $ 7.75 1.19%
dai
Dai (DAI) $ 1.00 0.03%
monero
Monero (XMR) $ 165.93 1.99%
ethereum-classic
Ethereum Classic (ETC) $ 20.07 4.75%
stellar
Stellar (XLM) $ 0.100012 3.96%
kaspa
Kaspa (KAS) $ 0.118819 0.81%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.14%
whitebit
WhiteBIT Coin (WBT) $ 19.40 0.45%
aave
Aave (AAVE) $ 186.14 10.05%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.344664 5.49%
blockstack
Stacks (STX) $ 1.68 0.85%
okb
OKB (OKB) $ 40.36 3.22%
crypto-com-chain
Cronos (CRO) $ 0.088971 5.04%
dogwifcoin
dogwifhat (WIF) $ 2.38 1.99%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.01%
arbitrum
Arbitrum (ARB) $ 0.575256 9.38%
filecoin
Filecoin (FIL) $ 3.77 4.06%
mantle
Mantle (MNT) $ 0.662004 12.27%