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Released January 19, 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. Finalizes $1.1 Billion in Credits for California Nuclear Plant - The Biden administration has finalized $1.1 billion in credits aimed to help keep open PG&E Corporation's (NYSE:PCG) (Oakland, California) Diablo Canyon nuclear power plant in California, the Department of Energy said on Wednesday. The $6 billion Civil Nuclear Credit Program was funded by the 2021 Bipartisan Infrastructure Law to help existing nuclear power plants. The first payment of awards for Diablo Canyon, California's last nuclear plant, is scheduled for 2025. Diablo's two reactors, which the Energy Department said provide 9% of California's power generation, had been slated to shut in 2024 and 2025. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here for the plant profile. (Reuters)
CRUDE OIL
U.S. Crude Oil Stocks Fall - U.S. crude inventories fell by 2.5 million barrels to 429.9 million barrels in the week ending Jan. 12, the U.S. Energy Information Administration (EIA) said. Gasoline stocks rose by 3.1 million barrels in the week to 248.1 million barrels, the EIA said. Distillate stocks rose by 2.4 million barrels in the week to 134.8 million barrels. (Reuters)
POWER
EIA Sees U.S. Wholesale Electricity Prices Close To or Lower than Last Year - Wholesale electricity prices for 2024 in most areas of the U.S. are seen to be close to or slightly lower than in 2023, because of relatively stable generation fuel costs, the EIA said in a report on Thursday. The agency forecasts U.S. wholesale prices to range between $30 per megawatt-hour (MWh) and $40 per MWh outside of the Northeast, where the agency expects prices to increase and average $48/MWh in New York and $60/MWh in New England. (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. Finalizes $1.1 Billion in Credits for California Nuclear Plant - The Biden administration has finalized $1.1 billion in credits aimed to help keep open PG&E Corporation's (NYSE:PCG) (Oakland, California) Diablo Canyon nuclear power plant in California, the Department of Energy said on Wednesday. The $6 billion Civil Nuclear Credit Program was funded by the 2021 Bipartisan Infrastructure Law to help existing nuclear power plants. The first payment of awards for Diablo Canyon, California's last nuclear plant, is scheduled for 2025. Diablo's two reactors, which the Energy Department said provide 9% of California's power generation, had been slated to shut in 2024 and 2025. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Plant Database can click here for the plant profile. (Reuters)
CRUDE OIL
U.S. Crude Oil Stocks Fall - U.S. crude inventories fell by 2.5 million barrels to 429.9 million barrels in the week ending Jan. 12, the U.S. Energy Information Administration (EIA) said. Gasoline stocks rose by 3.1 million barrels in the week to 248.1 million barrels, the EIA said. Distillate stocks rose by 2.4 million barrels in the week to 134.8 million barrels. (Reuters)
POWER
EIA Sees U.S. Wholesale Electricity Prices Close To or Lower than Last Year - Wholesale electricity prices for 2024 in most areas of the U.S. are seen to be close to or slightly lower than in 2023, because of relatively stable generation fuel costs, the EIA said in a report on Thursday. The agency forecasts U.S. wholesale prices to range between $30 per megawatt-hour (MWh) and $40 per MWh outside of the Northeast, where the agency expects prices to increase and average $48/MWh in New York and $60/MWh in New England. (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).
