This addendum to the March Newsletter includes the FERC State of the Markets Report for 2024 and relevant events. The Report provides the industry and public with key information on market conditions and emerging issues in natural gas and electricity markets as well as significant market trends and fundamentals for the year. The National Association of State Energy Officials (NASEO) Electricity Program shares this information with the Kentucky Office of Energy Policy.

FERC State of the Markets Report for 2024 Released

The Federal Energy Regulatory Commission, Office of Energy Policy and Innovation, has recently issued its annual State of the Markets report for 2024 to provide key information on market conditions, emerging issues in natural gas and electricity markets, and significant market trends and fundamentals for the year. The report covers electricity demand; natural gas and electricity prices; impacts of extreme weather, load growth, and resource mix on wholesale prices; updates on the interconnection queue; retirement; transmission development; and other issues. FERC will host a briefing on the report in the coming weeks.

Key Findings in 2024

• Lower natural gas and wholesale electricity prices.
• Marginal increase in natural gas demand, higher electricity demand, and lower net generation.
• More electricity generation capacity additions than retirements, but resource types differ. Most capacity additions came from solar and battery storage that have a lower capacity factor, while retiremenents primarily came from coal and natural gas capacity that hiver a higher capacity factor.
• Higher natural gas storage levels, higher natural gas capacity additions, and more transmission line miles completed.

Supply Chains for the Future Electricity System Webinar April 16

April 16, 2025, 12:00 - 1:00 PPM ET

Register here.

The electricity system is navigating simultaneous needs to meet increasing demand, replace aging infrastructure, and harden against extreme weather events. Hosted by the National Academies of Science, Engineering, and Medicine, the webinar explores how to navigate these competing pressures on manufacturing, supply, and market availability.

The full event details are available here.

In-Person Workshop

Reinventing the Right of Way: Policy, Technical, and Economic Implications of Siting Transmission Lines Along Transportation Corridors 

April 7-9, 2025, Washington, D.C.  

Hosted by the National Academies of Sciences, Engineering, and Medicine.

Please register here.