China's energy administration reports that China's power consumption in January-February was up 1.3% compared to the previous year.
The National Energy Administration (NEA), which released data on Tuesday, showed that China's electricity consumption increased by a sluggish 1,3% during the first two month of the year due to an unseasonably mild winter. However, the growth rate rose to 9% in late February. According to NEA data, February's power consumption was 743.7 kWh and for the entire two-month period it was 1.56 trillion kWh. China's National Bureau of Statistics reported on Monday that China's electricity generation had fallen 1.3% in the first two month of the year.
CERAWEEK - Small nuclear power struggles on the cusp of US electric demand boom
Small modular nuclear reactors are touted by everyone from the U.S. Energy Secretary to Big Tech as the answer to the booming demand for power. However, the technology has struggled to reach commercialization due to cost and regulatory obstacles. The artificial intelligence industry, which is powered by energy-hungry data centres, will likely increase electricity consumption in the United States. Small modular reactors supporters say that the technology would eventually be cheaper, faster…
EIA predicts that US crude and gas production will reach record levels in 2025
The U.S. Energy Information Administration's (EIA) Short Term Energy Outlook report (STEO), released on Tuesday, said that the U.S. production of crude oil, natural gas, and electricity will all reach record levels in 2025. The agency expects that crude oil production will average 13,61 million barrels a day (bpd), in 2025, and 13,76 million bpd by 2026. This is up from the 13.22 million bpd of 2024. The report also predicted that domestic consumption of petroleum and liquid fuels would increase to 20.5 millions bpd by 2025, and 20.6million bpd by 2026 from 20.3million bpd.
Evergy's pipeline for power users such as data centers has jumped to 11,2 GW
Evergy Inc.'s pipeline of very large electricity clients, such as data centers, has increased to 11,2 gigawatts, which is more than its current maximum total demand. Evergy, a Midwestern company that covers Missouri and Kansas in the United States, has announced an increase of 8% on its capital spending plan for 2025-2029, to $17.5 billion. The demand for cloud computing and artificial intelligence has pushed up U.S. electricity consumption after a two-decade hiatus. This year, the country is expected to hit record levels.
Industry body: China's solar growth to slow for the first time in six years
According to a forecast by an industry association on Thursday, China's rapid expansion in solar is expected to slow down this year for first time since 2019. The industry's growth will moderate. According to Wang Bohua (Honorary Chairman of the China Photovoltaic Industry Association), new solar capacity in 2025 will range between 215 gigawatts in a conservative scenario and 255 GW with a more optimistic outlook. This would represent a 8% to 23% decrease from the 277.57 GW record installations last year.
IEA: Global electricity demand will grow by 4% until 2027
The IEA released a report Friday that predicted the global electricity demand to increase by 4% – or more than Japan's total annual consumption – each year until 2027. However, the expansion of energy sources with low emissions should help counteract this trend. The IEA said that the 85% growth in global demand is expected to come from emerging and developing economies. China will account for more than half the growth with a 6% annual growth rate. China's power demand has grown faster than its economy since 2020…
NiSource increases its earnings forecast for 2025 on the basis of higher power demand
NiSource, a U.S. electric utility and gas company, raised its earnings forecasts for 2025 on Wednesday and beat the fourth-quarter profit expectations. According to the U.S. Energy Information Administration, power companies will benefit from rising electricity consumption - which is expected to reach new records in 2025 - due to energy-hungry data centers that are needed to scale up Big Tech's AI ambitions. Electric utilities in the United States have been trying to increase customer bills due to extreme weather and rising demand.
WEC Energy's quarterly profit increases as it expands its data center services
WEC Energy Group announced on Tuesday a profit that more than doubled during the fourth quarter. The electric utility benefited from lower operating costs and higher revenues as it expanded its service to Microsoft data centers. U.S. energy companies, like Milwaukee's WEC Energy, are embracing the rise in demand for electricity due to the proliferation of AI data centres and the electrification or buildings and industries. WEC plans to provide electricity for a campus of 3.3 billion dollars in data centers being built by Microsoft in southeast Wisconsin.
EIA: US power consumption will reach new highs by 2025 and 26.
The Short Term Energy Outlook, published by the Energy Information Administration on Tuesday, predicted that U.S. electricity consumption would reach record levels in 2025 and in 2026. EIA projects that the demand for electricity will increase to 4,175 billions kWh by 2025, and 4,252 trillions kWh by 2026. This is a significant increase from the 4,089 billions kilowatt hours (kWh) recorded in 2024. EIA predicts that by 2025, residential customers will consume 1,519 billion kWh of electricity. Commercial customers will consume 1,457 trillion kWh and industrial customers 1,056 trillion kWh.
Are price movements a result of structural shifts? China's commodity imports are bifurcated: Russell
China's imports in 2024 of major commodities were a mixed bag. Iron ore, coal, and natural gas volumes reached record levels, while crude oil was weak. Raw data from the largest buyer of natural resource in the world suggests that some parts of the economy perform well, while others are struggling or are undergoing structural changes. The main challenge when analysing China's imports of commodities is to separate temporary factors from those that are part a longer-term trend. Crude oil may be the best example. Customs data published on Monday showed that imports in 2024 will be 553.42 millions metric tons.
DOE-backed report: U.S. data centers' power consumption could triple by 2028
According to a Department of Energy report, the U.S. power consumption for data centers could triple within three years and account for 12% of all electricity consumed in the United States. The Lawrence Berkeley National Laboratory's report is due to be released this Friday. It comes as the U.S. government and power industry are trying to figure out how the sudden increase in data center demand by Big Tech will impact electrical grids, electricity bills, and climate change. According to a Berkeley Lab report…
Denmark Issues Offshore Wind Permit
The Danish Energy Agency has granted a construction permit for 240-megawatt (MW) Jammerland Bugt offshore wind farm, which is expected to start operating in 2029, developer European Energy said on Tuesday.The project is located in the Bay of Jammerland, on the western side of the island of Zealand.The offshore wind farm is expected to produce power equating the electricity consumption of around 240,000 European households per year, the developer said.The company did not provide any details on the cost of the project…
AEP considers additional asset sales to fund capital expenditure plan boost
American Electric Power executives announced on Wednesday that they are considering asset sales in order to fund their five-year capital expenditure plan of $54 billion, a 25% increase from the previous plan. AEP also considers cutting layers of management as well as various equity strategies in order to reduce costs and raise funds to fund its build out plan, which includes $10 Billion in transmission construction for new power demands from data centers and large customers. Bill Furman, CEO of AEP…
Egypt to bid for LNG cargoes up to 20 to meet Q1 2025 Demand
Three trading sources said on Monday that Egypt will issue an tender to procure up to 20 LNG cargoes to meet the demand in the first quarter 2025. The largest Arab country, which has the most people in it, is now a net gas importer. It has bought more than 50 cargoes this year. Plans to be a reliable gas supplier to Europe have been abandoned. Sources said that the Egyptian General Petroleum Corporation is expected to announce the tender for the purchase of between 15 and twenty cargoes LNG.
EIA: US power consumption will reach new highs by 2024 and 25.
The U.S. Energy Information Administration's (EIA's) Short Term Energy Outlook, released on Tuesday, predicted that the U.S. electricity consumption would reach record levels in 2024-2025. EIA projects that the demand for electricity will increase to 4,093 kilowatt hours (kWh) by 2024, and 4,163 kWh by 2025. This compares to 4,000 billion kWh by 2023, and a record setting 4,067 trillion kWh by 2022. EIA predicted that by 2024, the number of power sales for residential customers would increase to 1…
Scatec secures power sale deal for Egypt's hybrid solar and battery project
Scatec, a Norwegian renewable energy developer, announced on Thursday that it had signed a power purchase agreement with Egyptian Electricity Transmission Company for 25 years. The project is Egypt's first hybrid power system combining solar and battery storage. Scatec announced that it had signed a 25-year PPA in U.S. dollars with EETC to build a solar power plant of 1 gigawatt and a battery storage system (BESS) of 100 megawatts. The company has not disclosed the value of the contract.
EIA: US power consumption expected to hit record levels in 2024 and 25
The U.S. Energy Information Administration's (EIA) Short Term Energy Outlook, published on Tuesday, said that the U.S. electricity consumption will reach new records by 2024 and 2025. The EIA projects that power consumption will increase to 4,101 billion Kilowatt Hours (kWh) by 2024, and 4,185 billion in 2025, due to the growing demand for power from data centers, manufacturing, and electrification in transportation and buildings. This compares to 4,000 billion kWh by 2023, and a record setting 4,067 trillion kWh by 2022.
EIA: US power consumption will reach new highs by 2024 and 25.
The U.S. Energy Information Administration's (EIA) Short Term Energy Outlook, released on Tuesday, predicted that the U.S. electricity consumption would reach record levels in 2024-2025. EIA projects that the demand for electricity will increase to 4,101 billion Kilowatt Hours (kWh) by 2024, and 4,185 billion in 2025. This compares to 4,000 billion kWh by 2023, and a record setting 4,067 trillion kWh by 2022. EIA predicted that by 2024, the number of residential customers would increase to 1,503 billions kWh, while commercial customers will see 1,413 billions kWh and industrial customers 1,039 billions kWh.
China releases guidelines on green energy trading
A notice posted on the website of China's state planner said that China had issued guidelines on medium- and long term green power trading. The notice called for a market based approach. According to a notice jointly released by the National Development and Reform Commission and the National Energy Administration, the rule outlines a pricing mechanism whereby the green power price will be determined based on the electricity price plus a green certificate price. The report said that transactions should not have a price limit…
China releases guidelines on green energy trading
A notice posted on the website of China's state planner said that China had issued guidelines on medium- and long term green power trading. The notice called for a market based approach. According to the joint notice issued by National Development and Reform Commission and National Energy Administration, the rule lays down a pricing mechanism whereby the green power price will be determined based on the electricity price plus price of the green certificates. The green certificates issued by NEA are tradable and represent 1,000 kilowatt hours (kWh) each of renewable energy consumption.
