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Released July 25, 2024 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
POWER
U.S. Wind Power Output Falls to Three-Year Low - The amount of electricity produced by windfarms in the U.S. fell to a 33-month low on Monday, forcing power generators to crank up natural-gas fired plants to keep air conditioners humming during a hot summer day. Wind power in the Lower 48 states produced about 335,753 megawatt-hours on July 22, the lowest since October 4, 2021, according to preliminary data from the U.S. Energy Information Administration (EIA). (Reuters)
NextEra Considers Nuclear Restart - NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida) is considering a restart of its Duane Arnold nuclear plant in Iowa. Executives with NextEra said rising U.S. power consumption would provide opportunities and demand if the company proceeds with resurrecting its nuclear plant, which was shut in 2020. "It is something that we are looking at, but there's a lot of thought that has to go into it," said NextEra Chief Executive Officer John Ketchum, who added that the company would need to fine a risk-free approach to any restart. Subscribers to Industrial Info's Global Market Intelligence (GMI) Plant Database can click here for the plant profile. (Reuters)
COAL
IEA: Global Coal Demand to Remain Flat This Year and Next - Global coal demand is set to remain largely flat this year and next as higher electricity demand in some major economies offsets the rapid expansion of solar and wind, the International Energy Agency (IEA) said in an update on the coal market. Global use of coal rose by 2.6% in 2023 to an all-time high, driven by strong growth in the two largest coal consumers, China and India. "Our analysis shows that global coal demand is likely to remain broadly flat through 2025, based on today's policy settings and market trends," said Keisuke Sadamori, the IEA's director of energy markets and security. "The continued rapid deployment of solar and wind, combined with the recovery of hydropower in China, is putting significant pressure on coal use. But the electricity sector is the main driver of global coal demand, and electricity consumption is growing very strongly in several major economies," he added. (Reuters)
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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
POWER
U.S. Wind Power Output Falls to Three-Year Low - The amount of electricity produced by windfarms in the U.S. fell to a 33-month low on Monday, forcing power generators to crank up natural-gas fired plants to keep air conditioners humming during a hot summer day. Wind power in the Lower 48 states produced about 335,753 megawatt-hours on July 22, the lowest since October 4, 2021, according to preliminary data from the U.S. Energy Information Administration (EIA). (Reuters)
NextEra Considers Nuclear Restart - NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida) is considering a restart of its Duane Arnold nuclear plant in Iowa. Executives with NextEra said rising U.S. power consumption would provide opportunities and demand if the company proceeds with resurrecting its nuclear plant, which was shut in 2020. "It is something that we are looking at, but there's a lot of thought that has to go into it," said NextEra Chief Executive Officer John Ketchum, who added that the company would need to fine a risk-free approach to any restart. Subscribers to Industrial Info's Global Market Intelligence (GMI) Plant Database can click here for the plant profile. (Reuters)
COAL
IEA: Global Coal Demand to Remain Flat This Year and Next - Global coal demand is set to remain largely flat this year and next as higher electricity demand in some major economies offsets the rapid expansion of solar and wind, the International Energy Agency (IEA) said in an update on the coal market. Global use of coal rose by 2.6% in 2023 to an all-time high, driven by strong growth in the two largest coal consumers, China and India. "Our analysis shows that global coal demand is likely to remain broadly flat through 2025, based on today's policy settings and market trends," said Keisuke Sadamori, the IEA's director of energy markets and security. "The continued rapid deployment of solar and wind, combined with the recovery of hydropower in China, is putting significant pressure on coal use. But the electricity sector is the main driver of global coal demand, and electricity consumption is growing very strongly in several major economies," he added. (Reuters)
About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
