U.S. EIA: 'Increasing Electricity Generation From Renewable Sources Contributes To Lower Power Prices' In 2023

The U.S. Energy Information Administration March 7 Short-Term Energy Outlook forecasts a drop in wholesale electricity prices in 2023 that "reflects the forecast drop in natural gas prices from 2022 to 2023."

Natural gas prices are forecast to be down more than 50 percent from last year.

In addition, EIA said, "increasing electricity generation from renewable sources contributes to lower power prices."

Mild weather in the eastern part of the U.S. is contributing to an 11 percent decline in consumption of natural gas.

EIA said January and February weather "may be close to the warmest on record for that period in data going back to 1895."

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[Posted: March 7, 2023]  PA Environment Digest