EIA raises crude oil, gasoline price forecasts for 2018

(Thu, 10 May 2018) EIA’s May <em>Short-Term Energy Outlook</em> (STEO) forecasts that Brent crude oil prices will average $71 per barrel (b) in 2018, $7/b higher than forecast in last month’s STEO. Correspondingly, EIA’s forecast for regular gasoline retail prices increased to an average of $2.79/gallon (g) in 2018, $0.15/g higher that in last month’s STEO. Monthly average Brent crude oil spot prices have increased in 9 of the past 10 months, most recently averaging $72/b in April.

Solar surpasses biomass to become third-most prevalent renewable electricity source

(Wed, 09 May 2018) Electricity generation from solar resources in the United States reached 77 million megawatthours (MWh) in 2017, surpassing for the first time annual generation from biomass resources, which generated 64 million MWh in 2017. Among renewable sources, only hydro and wind generated more electricity in 2017, at 300 million MWh and 254 million MWh, respectively.

Future of U.S. nuclear power fleet depends mostly on natural gas prices, carbon policies

(Tue, 08 May 2018) Existing U.S. nuclear power generating plants operate under increasingly competitive market conditions brought on by relatively low natural gas prices, increasing electricity generation from renewable energy sources, and limited growth in electric power demand. Several sensitivity cases prepared for EIA’s <em>Annual Energy Outlook 2018</em> (AEO2018) show the potential effects on the U.S. nuclear power fleet of different assumptions for natural gas prices, potential carbon policies, and nuclear power plant operating costs.

Natural gas and renewables make up most of 2018 electric capacity additions

(Mon, 07 May 2018) EIA expects nearly 32 gigawatts (GW) of new electric generating capacity will come online in the United States in 2018, more than in any year over the past decade. Although renewables such as wind and solar accounted for 98% of the 2 GW added so far this year (based on data for January and February), EIA expects about 21 GW of natural gas-fired generators will come online in 2018.

Nuclear Power Outlook

(Mon, 07 May 2018) In EIA’s <em>Annual Energy Outlook 2018</em> Reference case, U.S. nuclear power generating capacity is projected to decline from 99.3 gigawatts (GW) to 79.1 GW over the projection period of 2017–50. To address some of the uncertainty surrounding this projection, this Issues in Focus article presents sensitivity cases under different assumptions for oil and natural gas availability, nuclear power unit costs, and carbon policies.

Pages