WEEK OF JAN. 31, 2025

The PJM Interconnection will move to set a price cap and price floor for its next two capacity auctions under an agreement reached Tuesday with Pennsylvania Gov.

PJM plans to set a $325/MW-day price cap and a $175/MW-day floor for its 2026/27 and 2027/28 delivery year capacity auctions, according to a notice PJM sent to its members

The Department of Energy predicts that up to 160 GW of new resources will be needed by 2030 to meet U.S. electricity demand.

At the same time, Wood Mackenzie reports that the U.S. will add 262 GW of distributed energy resources between 2023 and 2027 — an amount nearly equivalent to the construction of all new centralized generation.

The Federal Energy Regulatory Commission will address regulatory issues around colocating large loads, such as data centers, at power plant sites, FERC Chairman said in an interview.

“Colocation is a huge issue that we need to get in front of,” Christie said. “There’s a strong consensus that we need to move forward.”

Utility-scale energy storage developer esVolta is close to bringing online three battery storage projects in Texas totaling 490 MW/980 MWh.

The lithium-ion battery storage projects include the 150 MW/300 MWh Desert Willow project in Midlothian and the 100 MW/200 MWh Burksol project in Dickens County.

As part of Constellation Energy’s plan to buy Calpine, Calpine will sell power plants in the PJM Interconnection totaling 3,546 MW to allay concerns the combined company could use its market power to affect power prices, the companies told the Federal Energy Regulatory Commission on Friday.

“Applicants have committed to a proposed divestiture plan that fully addresses even theoretical competitive concerns to avoid a potentially protracted proceeding and speed the government approval process,” Constellation and Calpine said in their application for the deal at FERC.

Wholesale power prices will rise in most regions of the U.S. this year except the Northwest and parts of Texas, according to a Monday report from the Energy Information Administration.

“Other regions of the country are likely to see higher wholesale prices over the next year as a result of higher costs for natural gas,” EIA said in its January Short-Term Energy Outlook.

While production remains strong for many, challenges in refining margins and fluctuating oil prices are impacting their earnings.

ExxonMobil will release its Q4 financial results on January 31, 2025, at 5:30 a.m. CT, followed by a live conference call at 8:30 a.m. CT.

Early actions of the White House Administration are setting the critical foundation to encourage investment leveraging America’s energy abundance to enable America’s AI leadership.

The joint development, in conjunction with GE Vernova, aims to establish the first multi gigawatt-scale co-located power plant and data center during the President’s second term.

Crude oil inventories in the United States saw a large build of 3.5 million barrels during the week ending January 24, according to the U.S. Energy Information Administration.

Crude oil prices were trending lower today prior to the release of the U.S. Energy Information Administration, with both the WTI and Brent benchmarks trading down roughly half of a percent.

See more Notable News articles such as these via Utility Dive, OilPrice.com and BIC Magazine.