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The U.S. Energy Information Administration March 7 Short-Term Energy Outlook forecasts a drop in wholesale electricity prices in 2023 that "reflects the forecast drop in natural gas prices from 2022 to 2023."
Natural gas prices are forecast to be down more than 50 percent from last year.
In addition, EIA said, "increasing electricity generation from renewable sources contributes to lower power prices."
Mild weather in the eastern part of the U.S. is contributing to an 11 percent decline in consumption of natural gas.
EIA said January and February weather "may be close to the warmest on record for that period in data going back to 1895."
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NewsClips:
-- Post-Gazette - Anya Litvak: Greene County House That Exploded In 2018 From Natural Gas Leak Stands As A Monument To Leaking Gas Pipelines, Leaking Gas Wells, Leaking Gas Storage Areas
-- WESA: CMU Researchers Find High Levels Of A Hazardous Chemical Acrolein Weeks After Ohio/PA Train Derailment [Acrolein Also Used In Shale Gas Fracking Fluid ,To Treat Shale Gas Drilling Impoundments]
-- Inquirer: Solar Panels Can Cost $20,000 But Some Philly-Area Homeowners Say They’re Worth The Investment As Energy Prices Go Up [Driven By Natural Gas Price Spikes]
-- Bloomberg: Oil Investors Get $128 Billion Payout As Doubts Grow About Fossil Fuels; Long-Term Projects Like Refineries, Natural Gas Power Plants Could Become Stranded Assets
Related Articles This Week - Energy:
-- Gov. Shapiro’s Budget Proposes Major Initiative To Speed Up DEP Permit Reviews/ Inspections; Double Oil & Gas Fund Investment In State Parks/Forests Infrastructure [PaEN]
-- Rep. Greg Vitali Named Majority Chair Of House Environmental Committee; House Appoints Committee Members [PaEN]
-- DEP Oil & Gas Advisory Board Meets March 13 To Hear Updates On Regulation Of Natural Gas Storage Areas, Chapter 78 Regs; Federal Well Plugging Program, Carbon Capture, Hydrogen Development [PaEN]
-- DEP Hosting 6 Regional Engagement Sessions On Climate Action For Environmental Justice Communities Starting April 5 [PaEN]
-- The Guardian: One Of The Worst Global Methane Leaks In 2022 Was In PA - Equitrans In Cambria County; Routine Abandonment, Non-Compliance Of Conventional Gas Wells [PaEN]
-- DEP Methane Overflight Research Study Resulted In Voluntary Reductions In Oil & Gas, Landfill Facilities; Coal Industry Uncooperative [PaEN]
-- Scranton Times Editorial: Lower Boom On Natural Gas Leaks, Audit Abandoned Gas Well Capping [PaEN]
-- Save Our Streams PA Hosting April 28-30 Abandoned Well Weekend Workshop In Bradford County [PaEN]
-- Susquehanna River Basin Commission Meets March 16 On 6 Natural Gas Drilling Water Uses; 4.5 MGD Out-Of-Basin Transfer [PaEN]
-- Senate Passes Bill Blocking Local Elected Officials From Moving To Cleaner Energy Sources To Combat Climate Change [PaEN]
-- Rep. Fiedler, Labor Leaders, Educational, Environmental Leaders Announce Bill To Create Grant Program To Invest In Solar Energy Facilities At Schools [PaEN]
-- PA Solar Center Hosts March 17 Webinar On Opportunities For PA In Solar Supply Chain, Solar Recycling And Reuse [PaEN]
-- Penn State PA Technical Assistance Program Hosts March 23 TEC Talk On Trends On Industry Decarbonization At Hazleton Campus [PaEN]
-- U.S. EIA: 'Increasing Electricity Generation From Renewable Sources Contributes To Lower Power Prices' In 2023 [PaEN]
-- Bill Setting Decommissioning Rules For Utility-Scale Solar Energy Facilities Passes The Senate [PaEN]
-- Sen. Yaw Proposes Independent Energy Office To Promote Development Of PA’s Diverse Energy Portfolio - Natural Gas, Nuclear Power, Coal [PaEN]
-- U.S. Senate Hearing: Energy, Environmental Impacts Of Cryptocurrency Mining In Pennsylvania [PaEN]
-- Republicans On Senate Committee Report Out Bill Allowing General Assembly To Kill Regulations By Doing Nothing [PaEN]
[Posted: March 7, 2023]
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