Maryland electric customers face up to 24% bill hikes from PJM capacity auction: report Reliability-must-run contracts for two Talen Energy power plants added about $5 billion to PJM’s capacity costs in its last auction, Synapse Energy Economics found. Read More From: utilitydive.com
Read moreNatural gas consumption worldwide from 1998 to 2023 Worldwide natural gas consumption has been rising over the past 20 years. In 2023, natural gas consumption worldwide amounted to roughly four trillion cubic meters. Read More From: statista.com
Read moreThe World’s 5 Largest Oilfields and Their Impact By Michael Kern – Aug 19, 2024, 5:00 AM CDT The Ghawar Field in Saudi Arabia is the largest oilfield in the world, with an estimated 170 billion barrels of original oil in place. The Burgan Field in Kuwait, the Ahvaz Field in Iran, the Upper Zakum Oil Field in Abu Dhabi, and the Safaniya Oil Field in Saudi Arabia are also among the largest oilfields ever discovered. These massive oilfields have played… Read More »
Read moreChina’s Solar Output is Surging but Coal is Still King Coal currently accounts for almost two-thirds of China’s power generation. Kemp: In July 2024, Solar and hydro reached record output in China. Coal, it seems, will remain king in China’s energy mix for the observable future. China recently recorded record electricity consumption that was largely met by equally record production of hydropower and solar. Yet coal remained the country’s dominant source of electricity. Giving that up would be one… Read More »
Read morePoliticians address ongoing energy issue, bribery scandal with conflicting plans COLUMBUS, Ohio (WCMH) — Making reforms following the state’s biggest bribery scandal has been a slow path forward, but Ohio lawmakers are working to close that chapter and move forward with new energy legislation. “It’s a balancing act when you look at moving forward with trying to decarbonize and how we achieve that, while at the same time having the power we need to keep the lights on and expand,” Chair of… Read More »
Read moreSunPower Declares Bankruptcy By Irina Slav – Aug 06, 2024, 2:30 AM CDT SunPower, the California-based solar developer and operator, has filed for bankruptcy protection after slashing jobs and saying it would restate its financial results for the last two years on cost misclassification. The company also said it had entered into a stalking horse deal with Complete Solaria, which would buy some of SunPower’s business for $45 million in cash. Solaria would buy the Blue Raven Solar project and SunPower’s New… Read More »
Read moreCalifornia Power Bills Are Soaring By Tsvetana Paraskova – Aug 08, 2024, 5:00 PM CDT California residents face the second-highest average electricity bills in the U.S., driven by investments in wildfire mitigation, grid upgrades, and renewable energy integration. The surge in electricity costs has left nearly 1 in 5 California households behind on their energy bills. California is transitioning to a new net billing tariff for residential solar and a flat monthly fee structure for electricity in an effort to make… Read More »
Read moreNatural Gas: A Comprehensive Guide To The World’s Most Crucial Fuel By Michael Kern – Aug 05, 2024, 10:30 AM CDT Natural gas is a fossil fuel made up of methane and other hydrocarbons formed from the decomposition of organic matter. It is extracted via various methods and used as an abundant and relatively inexpensive source of energy for heating, cooking, and electricity generation. While natural gas has its benefits, it also poses environmental concerns such as greenhouse gas emissions and… Read More »
Read moreBy Irina Slav – Aug 06, 2024, 7:00 PM CDT Supermajors are scaling back renewables projects and investments due to poor returns compared to LNG. Big Oil prioritizes growing its LNG business, seeing strong demand for natural gas in the medium to long term. Renewables commitments falter as European oil and gas firms focus on energy security amid the energy crisis and skyrocketing prices. Read more From: oilprice.com
Read moreFOR IMMEDIATE RELEASE Significant Surge in Capacity Costs for PJM Electric Grid: What You Need to Know [Dublin, OH, 8/14/2024] – PJM Interconnection, which manages the electric grid covering Pennsylvania, New Jersey, Illinois, and other regions, has announced a dramatic increase in capacity costs following its latest auction. The new capacity cost has surged from $29/MW-Day to $269/MW-Day, representing a 9-10x increase. This significant rise, set to begin in June 2025 and last for 12 months, will affect every… Read More »
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