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EIA expects significant increases in US wholesale electricity prices this summer

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The US Energy Information Administration (EIA) forecasts that prices in US wholesale electricity markets this summer will significantly increase over last summer’s prices. EIA forecasts summer electricity prices will average $98/MWh in California’s CAISO market and $90/MWh in the ERCOT market in Texas. MMBtu in May 2021.

Price 476
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EIA expects continued high prices for diesel and home heating oils

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US distillate fuel inventories average 17% below the five-year average in the forecast for 2023. Inventories are just one part of the supply equation for diesel and other distillates. We expect notable decreases in electricity generation from natural gas and coal next year. EIA forecasts Russia will produce 9.3

Oil 334
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Bloomberg NEF forecasts falling battery prices enabling surge in wind and solar to 50% of global generation by 2050

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The result will be renewables eating up more and more of the existing market for coal, gas and nuclear. The levelized cost of electricity (LCOE) from new PV plants is forecast to fall a further 71% by 2050, while that for onshore wind drops by a further 58%. Coal emerges as the biggest loser in the long run. NEO 2018 sees $11.5

Wind 220
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Benchmark: hard-rock lithium can be 3x as carbon intensive as lithium from brine

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Hard rock sources of lithium currently make up 60% of global mined lithium supply and are forecast to continue to do so through to 2030, according to Benchmark’s Lithium Forecast. Both the Australian and the Chinese electricity grids are highly dependent on fossil fuels with a large amount of coal power.

Carbon 397
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BNEF: Net-zero transition potentially a $3.5T investment opportunity for Indonesia

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Based on BNEF’s New Energy Outlook, its annual long-term scenario analysis on the future of the energy economy, the report examines how Indonesia’s energy supply may evolve under BNEF’s Economic Transition Scenario (ETS) as well as a Net Zero Scenario (NZS) compliant with the goals of the Paris Agreement.

Indonesia 195
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EIA expects US motor fuel consumption to increase this summer, but remain below 2019 levels

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The US Energy Information Administration (EIA) forecasts an increase in demand for petroleum products during the 2021 summer driving season as the impacts of COVID-19 diminish in the United States. EIA also forecasts the Brent crude oil price will average $64 per barrel this summer, a 78% increase from last summer’s average of $36 per barrel.

2019 186
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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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US oil production is the largest source of production growth in the forecast, but that growth remains uncertain because of relatively low capital investment from oil producers, EIA noted. Areas of uncertainty include Russian oil supply and OPEC production. EIA forecasts US gasoline prices to average around $3.30