EIA forecast that residential electricity sales would grow by 2.4% in 2021 and by 1.6% in 2022 and commercial sector retail electricity sales by 0.9% in 2021 and by 1.8% in 2022. Energy use in homes, commercial buildings, manufacturing, and transportation. U.S. Renewable Energy Consumption, Table 8b. EIA expects that monthly average spot prices will average $3.01/MMBtu in 2021, which is up from the forecast average of $2.07/MMBtu for 2020. Generally lower gas prices, however, are seen giving a bump to gas-fired generation. Subscribe to feeds for updates on EIA products including Today in Energy and What's New. EIA forecasts residential sector retail electricity sales will grow by 2.7% in 2021. Average Consumer Prices and Expenditures for Heating Fuels During the Winter, U.S. electricity generation by fuel, all sectors, Expanded Forecasts for Wholesale Electricity Prices and Electricity Generation and Fuel Consumption, Energy-weighted industrial production indices, Changes to Electricity and Renewables Tables. Forecast Completed: March 4, 2021  |  This increase is primarily a result of colder temperatures in the first quarter of 2021 compared with the same period in 2020. Energy-Related Carbon Dioxide Emissions, Energy-Related Carbon Dioxide Emissions at the State Level, through 2018, State Energy Data System: Lubricants through 2019, ISO-New England secures supply in 15th Forward Capacity Market auction, Monthly Crude Oil and Natural Gas Production ›, Midwest and Rocky Mountain Transportation Fuels Markets, East Coast and Gulf Coast Transportation Fuels Markets, Macroeconomics and Carbon Dioxide Emissions, Table 7a. Crude oil, gasoline, heating oil, diesel, propane, and other liquids including biofuels and natural gas liquids. Amid increased industrial production, retail power sales to the industrial sector were seen rising 1.2% in 2021 and by 1.1% in 2022. EIA Cuts Oil Price Forecast. EIA forecasts industrial consumption will average 23.8 Bcf/d in 2021 (up 1.3 Bcf/d from 2020) as a result of increasing manufacturing activity amid a recovering economy. Text Only Full Report Short, timely articles with graphics on energy, facts, issues, and trends. U.S. Renewable Electricity Generation and Capacity, Annual Energy Outlook Electric Power Projections, Annual Energy Outlook Levelized Generation Costs, Table WF01. U.S. Looking ahead to 2021, the EIA reduced its price predictions in its latest forecast. EIA continues to expect downward crude oil price pressures will emerge in the coming months as the oil market becomes more balanced, with EIA’s forecast Brent price falling to $65/b in … In February, U.S. LNG exports averaged 7.5 Bcf/d, a 2.3 Bcf/d (23%) decline from January. EIA expects U.S. crude oil production will average 11.1 million b/d in 2021 and 12.0 million b/d in 2022. EIA forecasts Brent crude oil prices will average $67/b in March and April 2021. "EIA expects Henry Hub spot prices will average $2.95/MMBtu in 2021 and increase further to $3.27/MMBtu in 2022." Rising Brent prices in February continued to reflect expectations of rising oil demand as both COVID-19 vaccination rates and global economic activity have increased, combined with ongoing petroleum supply limitations by the Organization of the Petroleum Exporting Countries (OPEC) and partner countries (OPEC+). Brent crude oil prices in the forecast average $58/b in the second half of 2021. Released November 22, 2016 | tags: AEO costs electricity forecasts/projections generating capacity generation + power plants revenue. EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. U.S. Natural Gas. Average Electricity Prices Stay Low: Average electricity prices are anticipated to grow from 10.6 to 11.0 cents per kilowatt-hour between 2017 and 2050, a remarkably low 4% increase over 33 years. EIA forecasts that consumption will increase by another 3.8 million b/d in 2022 to average 101.3 million b/d. Higher Q1 spot prices Reserves, production, prices, employment and productivity, distribution, stocks, imports and exports. In addition, The U.S. Energy Information Administration (EIA) expects OPEC crude oil production will average 25.3 million barrels per day (b/d) in April, which is similar to expected production for March and down 1.6 million b/d from EIA’s forecast for April OPEC production in last month’s STEO. EIA forecasts that consumption of electricity in the United States will increase by 1.6% in 2021 after falling 3.8% in 2020. U.S. EIA estimates that inventory withdrawals were 829 billion cubic feet (Bcf) in February, the largest February withdrawal on record. The OPEC+ extension of existing supply cuts through April added significantly to near-term upward oil price pressures. EIA forecasts that electricity consumption in the United States will increase by 2.1% in 2021 after it fell 3.8% in 2020. Price: The EIA forecasts an average price of $2.07 per MMBtu over the course of 2020, down 4.2% from the September forecast. Coal’s forecast share of electricity generation averages 23% in both 2021 and 2022, up from 20% in 2020. Wind and solar, in particular, will …    |   Natural gas will continue to generate the largest amount of electricity this year followed by coal and renewables. EIA forecasts another record year in 2020 with production rising to 94.7 Bcf/d in 2020. Exploration and reserves, storage, imports and exports, production, prices, sales. In 2021, EIA expects residential natural gas consumption to average 13.1 Bcf/d (up 0.4 Bcf/d from 2020) and commercial consumption to average 9.3 Bcf/d (up 0.7 Bcf/d from 2020). All Tables EIA forecasts US crude oil production to average 12.4 million b/d in 2019 and 13.2 million b/d in 2020, which are both more than 300,000 b/d higher than in the January forecast. EIA expects retail sales of electricity in the commercial and industrial sectors in 2021 will increase by 0.7% and 3.7%, respectively.    |   EIA expects retail sales of electricity in the commercial and industrial sectors in 2021 will increase by 0.7% and 3.7%, respectively. Financial market analysis and financial data for major energy companies. EIA estimates that U.S. energy-related carbon dioxide (CO2) emissions decreased by 11% in 2020. Overall, EIA is forecasting that total US consumption of natural gas will average 81.71 Bcf/d in 2021, down 1.9% from 2020, amid lower demand for gas consumed for electric power. U.S. EIA forecasts that electricity consumption in the United States will increase by 2.1% in 2021 after it fell 3.8% in 2020. Sign up for email subcriptions to receive messages about specific EIA products. Financial market analysis and financial data for major energy companies. EIA expects the share of U.S. electric power generated with natural gas will average 36% in 2021 and 35% in 2022, which is down from 39% in 2020. In addition, several U.S. LNG export facilities (including Freeport, Cameron, and Corpus Christi) experienced lower natural gas feedstock supply in mid-February following. EIA's free and open data available as API, Excel add-in, bulk files, and widgets. Following the freeze-offs, EIA forecasts crude oil production will rise to almost 11.0 million b/d in March. Monthly and yearly energy forecasts, analysis of energy topics, financial analysis, congressional reports. It expects 2021 prices to …   |   IEA to produce world’s first comprehensive roadmap to net-zero emissions by 2050. Overall, EIA sees US electricity consumption declining 4% in 2020, with commercial and industrial retail sales declining by 7% and 5.6%, respectively, while residential retail sales hold steady. All Figures, Provides custom data views of historical and forecast data "As a result of low natural gas prices, EIA forecasts that electricity generation from natural gas in the United States will reach 1,505 billion kWh in 2020 — a new record," Capuano said. Brent crude oil spot prices averaged $62 per barrel (b) in February, up $8/b from January’s average and up $7/b from February 2020.   |   In 2021, EIA expects higher monthly averages for Henry Hub natural gas spot prices: $3.01 per million British thermal units, compared to … Comprehensive data summaries, comparisons, analysis, and projections integrated across all energy sources. Crude oil, gasoline, heating oil, diesel, propane, and other liquids including biofuels and natural gas liquids. Monthly and yearly energy forecasts, analysis of energy topics, financial analysis, congressional reports. EIA estimates that U.S. crude oil production averaged 10.4 million b/d in February, which is down 0.5 million b/d from estimated January production. The Energy Information Administration forecast the renewables share of US electricity generation will double by 2050. Release Date: March 9, 2021  |  February 3, 2021 EIA’s AEO2021 explores the impact of COVID-19 … Come test out some of the products still in development and let us know what you think! Maps, tools, and resources related to energy disruptions and infrastructure. Subscribe to feeds for updates on EIA products including Today in Energy and What's New. Coal’s forecast share of electricity generation averages 23% in both 2021 and 2022, up from 20% in 2020. Most of the decline reflects the cold temperatures that affected much of the country, particularly Texas. Lesson plans, science fair experiments, field trips, teacher guide, and career corner.  |  International energy information, including overviews, rankings, data, and analyses. Maps, tools, and resources related to energy disruptions and infrastructure. The decline in natural gas production was mostly a result of freeze-offs, which occur when water and other liquids in the raw natural gas stream freeze at the wellhead or in natural gas gathering lines near production activities. For 2022, EIA forecasts total electricity consumption will grow by another 1.4%. For 2022, EIA forecasts total electricity consumption will grow by another 1.4%. U.S. EIA forecasts residential sector retail sales will grow by 2.2% in 2021. Maps by energy source and topic, includes forecast maps. Price: The EIA lowered its 2020 view on WTI crude — the U.S. benchmark — by 23 cents to $38.76 a barrel, and pulled back its price forecast for next year by 35 cents to $44.72 a barrel. STEO Data browser › Lesson plans, science fair experiments, field trips, teacher guide, and career corner. Comprehensive data summaries, comparisons, analysis, and projections integrated across all energy sources. EIA forecasts Brent crude oil spot prices, the international benchmark, will average $65 per barrel in 2020, compared with an average of $64 in 2019. State energy information, including overviews, rankings, data, and analyses. In 2020, EIA expects U.S. residential electricity prices to average 13.1 cents per kilowatthour, which would be 0.4% higher than the average electricity price in 2019. Short, timely articles with graphics on energy, facts, issues, and trends. The February 2021 withdrawal was significantly larger than the five-year (2016–20) average February withdrawal of 452 Bcf. EIA expects Brent prices will average $59/b in 2022. Sign up for email subcriptions to receive messages about specific EIA products. Coal’s forecast share of electricity generation averages 23% in both 2021 and 2022, up from 20% in 2020.
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