WEEK OF APR. 19, 2024

The electric demand growth outlook has shifted, with data centers now expected to drive a surge in demand.

This abrupt change is creating one of the biggest challenges facing the power sector, and advanced nuclear technology could be part of the solution, according to David Crane, U.S. Department of Energy undersecretary for infrastructure.

The approved Integrated Resource Plan authorizes Georgia Power to build three new methane gas and oil-burning units at Plant Yates and purchase 750 MW of power from a Mississippi Power coal-fired plant through a PPA.

“It will cost Georgia Power’s customers approximately $3 billion to build and acquire these new energy sources.

Equinor is advancing two merchant energy storage projects totaling 110 MW/220 MWh that will participate in the Electric Reliability Council of Texas markets.

The Texas projects are Equinor’s first U.S. battery storage projects since the Norwegian company bought East Point Energy in July 2022.

The Advanced Grid Deployment report is the latest in a series of DOE reports that aims to show how various energy technologies can reach commercial liftoff, led by the private sector with support from the government.

The report assessed 20 advanced grid solutions — including advanced conductors, advanced distribution management systems, topology optimization and communications technologies.

Danish investment firm Copenhagen Infrastructure Partners announced Monday that it has completed its acquisition of Liberty Renewables, a 1.3 GW portfolio of onshore wind projects in development in New York.

“CIP has a strong track record of developing and financing renewable energy projects across multiple markets in the U.S., and we are excited to leverage this expertise for the successful delivery of this portfolio in New York,” Andy MacCallum, president of Liberty Renewables, said in a release from CIP.

The U.S. Department of Energy on Friday finalized new energy efficiency standards for the most common types of light bulbs, continuing the White House administration’s efforts to save consumers money on utility bills.

The new standard goes into effect in July 2028, applies only to newly-produced bulbs, and over 30 years will save Americans more than $27 billion on utility bills and avoid 70 million metric tons of carbon dioxide emissions, the agency projected.

EIA also forecasts increased natural gas exports by pipeline, mainly to Mexico.

In the STEO forecast, net exports of U.S. natural gas (exports minus imports) grow 6% from 2023 in 2024 to 13.6 billion cubic feet per day (Bcf/d). In 2025, net exports increase another 20% to 16.4 Bcf/d.

U.S. liquefied natural gas (LNG) exports accounted for more than half of all U.S. natural gas exports, and natural gas exports by pipeline to Canada and Mexico accounted for the remainder.

LNG exports: LNG exports continued to drive the growth in total U.S. natural gas exports last year, increasing 12% (1.3 Bcf/d) from 2022. U.S. LNG exports averaged a record 13.6 Bcf/d in December 2023.

Crude oil prices moved lower today after the Energy Information Administration reported an inventory increase of 2.7 million barrels for the week to April 12.

This compared with a significant build of 5.8 million barrels for the previous week and an estimated 4-million-barrel build for the week to April 12 as reported by the American Petroleum Institute on Tuesday.

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